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  • Jadwa Investment: Shifts in Foreign Investor Flows and the TASI
     

    A recently released Jadwa Investment report discusses shifts in foreign investment in the Saudi stock market, also known as the TASI. “Big changes in foreign investment in the Saudi stock market tend to come ahead of moves in the TASI, meaning that local investors can benefit from tracking what foreign investors are doing. In six of the seven […]

     
  • High capital/solid profitability: Saudi banking system remains stable
     

    The outlook for Saudi Arabia’s banking system remains stable, says Moody’s Investors Service in a new Banking System Outlook. The key drivers of the outlook are (1) a benign operating environment; (2) low problem loan levels; (3) strong loss-absorption capacity, underpinned by high capital buffers and solid profitability; and (4) the sector’s stable, low-cost deposit […]

     
  • Saudi eases access to long-hidden ancient ruins
     

    “Spectacular… wonderful… breathtaking,” she says. “But where are the tourists? If we had a site like this in my country, we would have millions of tourists!” Dating back to the second century BC, the Nabataean archaeological site, also known as Madain Saleh, has long been hidden from foreign visitors in this ultra-conservative kingdom that rarely […]

     
  • GE Sees Gas Turbine Sales Gain Amid Saudis’ Solar Shift
     

    General Electric Co. GE predicts demand for its gas turbines will increase in Saudi Arabia, even with the kingdom working to supply a third of power needs from solar energy within the next two decades. Saudi Arabia already has 500 installed gas turbines from GE that generate about half its electricity, and the Middle Eastern […]

     
  • Modernity and tradition: Khalid Habash’s stunning photos of Saudi
     

    It is no secret that Saudi Arabia’s economy and society are modernizing at a remarkable pace. Already the Arab world’s largest economy, the Kingdom also has one of the world’s highest GDP growth rates.  Government spending is expansive and investment in infrastructure, education and numerous other sectors are at all time highs.  Soon to be […]

     
  • Confronting Tremendous Challenges: Prince Turki al-Faisal
     

    I think Saudi Arabia over the past 80 years has been going through an Arab Spring. When you look at the Kingdom when I was born in it for example, 1945, there were no schools in Saudi Arabia. There were no roads. Disease and poverty were the rule rather than the exception. Since then, the […]

     
  • US Eximbank OKs record-breaking $5 bln loan for Saudi petchem complex
     

    In its largest job-supporting authorization to date, the board of the Export-Import Bank of the United States (Ex-Im Bank) has approved a $4.975 billion direct loan to Sadara Chemical Company for the export of American goods and services required in the construction of a petrochemical complex in Jubail Industrial City II in the Kingdom of […]

     
  • Saudi restoration commemorates pact of princes, clerics
     

    Climb the rickety ladder through the Emir Omar bin Saud Palace courtyard in crumbling Diriyah and the image of old Saudi Arabia suddenly appears in an adobe roofscape set against dark green palms. The caramel tones of the mud walls, the smell of dust mingling with water and the muffled clanging of hammer on stone […]

     
  • Jadwa: Private sector leads real GDP growth in Q2
     

    Jadwa Investment recently released a report about GDP growth in Saudi Arabia, noting that the private sector was leading real GDP growth in the second quarter of 2012. Latest economic growth data released last week confirm that the healthy performance of the Saudi economy continued into the second quarter of 2012 albeit at slower pace than previous […]

     
  • Abdullah Alireza speaks at C3 Summit
     

    SUSTG attended the C3 Summit in New York City September 13-14, 2012. This was the inaugural event in what the organizers anticipate will be an annual gathering to ‘build new relationships, foster existing partnerships and exchange best practices’ between the U.S. and the Arab world. C3 (Community, Collaboration and Commerce) is looking to host the […]

     

MUST-READS

  • Saudi Arabia’s Aramco reports lower half-year profits as economic worries dampen energy prices

    Saudi oil giant Aramco reported half-year profits Tuesday of $56.3 billion, down from the year before amid worries about a slowing global economy. Aramco, formally known as the Saudi Arabian Oil Co., said its overall revenue for the half-year was $220.7 billion, up from $218.6 billion the year before. Profits in 2023 were $61.9 billion, nearly $5 billion higher.

  • Saudi’s small crude price hike for Asia shows bigger concerns

    Asia's beleaguered oil refiners have received welcome relief on two fronts as crude prices slide and top supplier Saudi Arabia offered some relief. Saudi Aramco , the kingdom's state-controlled producer and the world's largest oil exporter, raised its official selling prices (OSPs) for September-loading cargoes for Asian customers by less than expected. The benchmark Arab Light grade saw an increase of 20 cents a barrel to a premium of $2 barrel above the Oman/Dubai average, Aramco said in a statement on Monday.

  • Mandarin teachers get ready for Saudi Arabia

    A total of 175 Chinese language teachers for primary and middle schools will begin their careers in Saudi Arabia in mid August.  They will become the first batch of Mandarin teachers to serve in Saudi Arabia, honoring an agreement on enhancing cooperation in Chinese language education that the two countries made last year. They completed pre-service training at Tianjin Normal University from July 29 to Friday.

  • Saudi Arabia’s World Cup Playbook

    In many ways, the tournament will be the culmination of Saudi Arabia’s ambitions in the sport. Three years ago, the country’s powerful wealth fund bought Premier League club Newcastle United. Cristiano Ronaldo, one of the biggest names in the sport, joined local club Al Nassr for an estimated $200 million annual salary. Efforts to recruit Lionel Messi for $400 million a year didn’t pan out, but Brazilian Neymar and French striker Karim Benzema now play in the Saudi league.

  • Saudi Arabia’s tourism transformation is all about diversification: Video

    Religious tourism has long been a major driver for Saudi Arabia's economy. The government is now targeting growth in its wider travel and tourism industry, with potential gains for the private sector.

  • Visit Saudi: The Impact of Tourism on the Saudi Economy

    The growth of tourism in the kingdom has been rapid. Spending by nonresidents visiting Saudi Arabia was four times higher in 2023 than in 2018. Meanwhile, spending by Saudi residents overseas is still below the peak of a decade ago. As a result, the net balance in the travel account of the balance of payments swung from a deficit of $3 billion in 2018 to a substantial surplus of $13 billion in 2023.

  • Qiddiya giga-project set to propel Saudi Arabia’s entertainment sector

    Canadian company AtkinsRéalis is the lead design consultancy for the project, and the firm’s Global Director of Creative, Theming and Show Design Bradley Caruk set out his vision for Qiddiya to  Arab News. “Having worked in the global entertainment industry for the past 25 years, I have learnt we are all the same. Everyone wants to have fun. With major innovative parks like Six Flags Qiddiya City, we have the unexpected – a fully immersive story-driven theme park experience,” he said.

  • Saudi Arabia urges citizens to leave Lebanon immediately

    Saudi foreign ministry urged its citizens on Sunday to leave Lebanon ‘immediately’ as regional tensions recently surged. In a statement, the ministry has reiterated its call for all Saudi nationals to avoid traveling to Lebanon. It said the Kingdom's embassy in Lebanon was closely monitoring the developments in the southern region of the country.

  • Report: Netanyahu decides not to seek normalization with Saudis before US election

    According to a report Sunday on Channel 12 news, Netanyahu made the decision because of the fast-moving US political developments, with the consideration that it might be worth waiting to see whether Republican nominee and former president Donald Trump is returned to the White House in the upcoming vote.

  • Saudi Arabia to raise stake in Binladin Group to boost construction sector

    Binladin’s history has been intertwined with the kingdom since the country was founded in 1932, according to a Bloomberg report. The construction firm has played a vital role in modernising the country by building highways, airports and economic freezones, and is also known for its work in the Islamic holy cities of Mecca and Medina. Meanwhile, the Public Investment Fund (PIF) is working with Morgan Stanley on a potential deal to buy into Binladin, said Bloomberg.  The $925bn fund is considering acquiring part or all of the 36 per cent stake owned by the ministry of finance.