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Recent stories from sustg

  • Al-Qaida’s wretched utopia and the battle for hearts and minds
     

    Driving east out of Aden, we were just a few hundred metres past the last army checkpoint when we saw the black al-Qaida flag. It flew from the top of a concrete building that had been part-demolished by shelling. From here into the interior, all signs of control by the government of Yemen disappeared. This […]

     
  • Positive Steps: Interview with Saudi Minister of Finance Al Assaf
     

    The industrial sector is the real excitement for us, which is growing at a rate of 15 per­cent, which is not a joke. The other one is service sector, like the financial services or the restaurant and hotels or other services in the economy. A particular sector that we are excited about is the mineral […]

     
  • “Milestone” oil manipulation case unsettles traders
     

    U.S. regulators’ $14 million settlement with high-frequency trading firm Optiver over oil price manipulation in 2007 is a “milestone” victory in their toughening stance on market malfeasance which is being closely watched by traders. In its first major case against an algorithmic trader, the Commodity Futures Trading Commission said late on Thursday that a court […]

     
  • Home boom aids Saudi Telecom profit surge
     

    Soaring demand for broadband helped Saudi Telecom Co (STC) post a 60 percent increase in first-quarter profit on Wednesday, with the former monopoly reporting rising revenues in its mobile, fixed line, corporate and wholesale units. The former monopoly, which will pay a quarterly dividend of 0.5 riyals per share, made a profit of 2.52 billion […]

     
  • Saudi tops in job creation in GCC
     

    The Gulf region continued to create jobs despite the impact of Arab Spring in 2011 with the regional powerhouse Saudi Arabia topping the list followed by Qatar and Oman, according to a new survey. The oil and gas industry, healthcare and retail sectors enjoyed the largest headcount expansion in 2011, while banking and construction fared the […]

     
  • Chart of the Day: A Short History of 200 Years of Global Energy Use
     

    If you want to tell the story of worldwide energy consumption over the past 200 years, you need three chapters. Chapter 1: The Coal Age. Chapter 2: The Oil Age. Chapter 3: The China Age. In the early days of industrialization, the use of biofuels such as wood declined as the West learned to live […]

     
  • Saudis Increasing Riyadh Water Supply
     

    With the bulk of Saudi Arabia’s drinking water coming from desalination plants, the country’s sky-rocketing population growth puts enormous demand on water supply. Arab News reports that a new desalination plant in the Eastern Province is gearing up to go online. When it is producing, it will nearly double the amount of water flowing into […]

     
  • Internet in the Middle East Still Short of Its Potential
     

    Last week’s third ArabNet conference for digital entrepreneurs in the MENA region was, by the standard of these things, a modest affair. But nonetheless it showed how the regional digital economy has grown, and how it is poised to take off. As one commentator said: “Jordan for the talent, Lebanon for the creativity, Egypt for […]

     
  • Saudi to maintain oil supply if U.S. draws stocks
     

    Saudi Arabia is likely to maintain high oil production in the event consumer countries release emergency stocks, but it will not seek to lure buyers for more oil by discounting its crude, industry sources said. U.S. Secretary of State Hillary Clinton on Saturday in Riyadh sought an assurance from Saudi King Abdullah that the kingdom […]

     
  • Hillary Clinton: Time running out for diplomacy with Iran
     

    U.S. Secretary of State Hillary Rodham Clinton made clear Saturday that time is running out for diplomacy over Iran’s nuclear program and said talks aimed at preventing Tehran from acquiring a nuclear weapon would resume in mid-April. With speculation over a possible U.S. or Israel military attack adding urgency to the next round of discussions […]

     

MUST-READS

  • Record US oil output challenges Saudi mastery

    U.S. crude oil production set a record for the second month running in September, highlighting the challenge to Saudi Arabia and its OPEC⁺ partners as they cut their own production to boost prices. Repeated OPEC⁺ output cuts since the fourth quarter of 2022 have thrown a lifeline to U.S. producers, averting a deeper slump in prices and conceding more market share to them. U.S. crude and condensate production increased by 224,000 barrels per day (b/d) to 13.24 million b/d in September from August, according to the U.S. Energy Information Administration.

  • Saudi Studio Telfaz 11 Announces Genre-Bending Epic ‘Al-Gaid’

    Saudi Arabia’s rapidly expanding Telfaz11 Studios has announced the genre-bending epic “Al-Gaid” (working title), set to be the first feature to go into production under its exclusive nine-picture deal with Neom, the sprawling production hub in Saudi’s northwestern corner. Set against the backdrop of the 19th-century wintery northern Arabian desert, “Al-Gaid” is penned by Saudi novelist and writer Ahmed Alhokail and blends the revenge genre with Bedouin soap opera tropes, “crafting a unique narrative tailored for an Arab audience,” according to a Telfaz11 statement. “Rooted in an authentic Saudi perspective, ‘Al-Gaid’ aims to revolutionize the landscape of Saudi epic films.”

  • Navantia Delivers 4th Avante 2200 Corvette to Saudi Arabia

    His Royal Highness Prince Khalid bin Salman bin Abdulaziz, Saudi Minister of Defense commissioned yesterday to the Royal Saudi Arabian Navy (RSNF) the fourth of the five Avante 2200 corvettes. The event  was held at the King Faisal Naval Base in Jeddah, where the ship had undergone completion of localization works of major combat systems. The ceremony was attended by H.E. General Fayyad bin Hamed Al-Ruwaili, Chief of the General Staff, and H.E. Vice Admiral Fahd bin Abdullah Al-Ghofaily, the Chief of Staff of Royal Saudi Naval Forces; as well as by the Vice Minister of Commerce of Spain, Xiana Méndez; the Chief of Spanish Navy Personnel, Admiral Gonzalo Sanz and Navantia’s Chairman, Ricardo Domínguez.

  • US to modernize secretive Saudi RE-3A surveillance aircraft

    he US State Department has made a determination approving a possible Foreign Military Sale to the Saudi Arabia of RE-3A Tactical Airborne Surveillance System (TASS) aircraft modernisation and related equipment for an estimated cost of $582m. The 4 December announcement, published by the US Defense Security Cooperation Agency (DSCA), stated that Saudi Arabia had earlier requested to purchase hardware and software modifications to modernise its fleet of RE-3A TASS aircraft. Including in its request were seven GPS/INS security systems with selective anti-proofing module, five L3Harris BlackRock communications intelligence sensor suites, KY-100M narrowband/wideband secure communications terminals, integrated signals intelligence (SIGINT) systems, among other equipment. The principal contractor will be L3 Technologies, the DSCA stated.

  • Saudi’s Red Sea Global Confirms New Giga-Project Full of Affordable Hotels

    Saudi Arabia's "Maldives of the Middle East", The Red Sea, will cost you at least $500 a night to experience. To remedy this, the developers are planning a whole new development to place their mid-market hotels.

  • Pirelli rules out Saudi sovereign fund taking stake in company – exec

    Saudi Arabia's Public Investment Fund (PIF) will not take a stake in Italy's Pirelli, the tyremaker's Executive Vice Chairman Marco Tronchetti Provera said on Tuesday. "It's what you see, there's nothing more," he said referring to Pirelli's joint venture with the Saudi sovereign wealth fund to build a tyre manufacturing facility in the Gulf country. "There isn't going to be anything else," Tronchetti Provera said when asked about a potential entry of PIF in Pirelli's shareholding.

  • Putin to Visit Saudi Arabia and U.A.E. on Wednesday

    President Vladimir V. Putin will make a rare trip to the Middle East on Wednesday, the Kremlin announced, saying he would discuss bilateral relations, oil and international affairs in Saudi Arabia and the United Arab Emirates. The trip is part of a flurry of diplomatic meetings the Russia leader will conduct this week; on Thursday in Moscow, Mr. Putin will host President Ebrahim Raisi of Iran, the leader of another key player in the region. Mr. Putin, who has not traveled beyond China, Iran and the former Soviet states since he launched the full-scale invasion of Ukraine in February 2022, will visit both the Emirates and Saudi Arabia in one day, Dmitri S. Peskov, his spokesman, told journalists during a briefing on Tuesday.

  • Palestinian media says at least 50 killed in Israeli air strike in north Gaza

    The official Palestinian news agency said at least 50 people were killed on Monday in an Israeli air strike that hit two schools sheltering displaced people in the north of the Gaza Strip. The reported attack took place as Israeli bombs also rained down on southern areas of the enclave and Israeli troops and tanks pressed a ground campaign against Hamas militants in that sector. The strike hit the Daraj neighbourhood in Gaza City, the WAFA agency said. It was not immediately possible to verify the report independently, and a spokesperson for the Israeli army said it was looking into the report.

  • US kills 5 Iran-backed militia members in drone strike in Iraq

    US forces killed at least five Iran-backed militia members in a drone strike after the US “identified an imminent attack” was likely to be launched by militia forces in Kirkuk, Iraq, on Sunday, a US official said. It wasn’t immediately clear which group the forces killed on Sunday belonged to. The number of attacks by Iran-backed proxy groups on US and coalition forces in Iraq and Syria has risen to 76 since October 17, a defense official told CNN.

  • Continuing War Casts Long Shadow Over Egypt-Gaza Border

    Egypt’s Rafah border crossing with the besieged Gaza Strip has been a site of hope and despair in the unprecedented aftermath of Hamas’ deadly October 7 attack on southern Israel.