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Recent stories from sustg

  • Journey of a lifetime
     

    To say that I was excited to be in the presence of such history would be an understatement. I had been looking forward to this trip for months and was absolutely beside myself. My purpose was to travel with my mother to Saudi Arabia to perform the Umrah, a mini version of the annual Hajj […]

     
  • 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 […]

     

MUST-READS

  • China deepens ties with Saudi Arabia at Hong Kong gathering

    China’s vice-premier He Lifeng told Hong Kong’s elite last month that he had “some suggestions” for the territory — a list that included building closer ties with the Middle East. Hong Kong should “further expand its circle of friends” by developing relationships in the region, he said. This week, it is taking an important step in its effort to do so. Saudi Arabia’s Future Investment Initiative Institute, which hosts the Gulf state’s so-called Davos in the Desert conference in Riyadh, opened its first Asia gathering in Hong Kong on Thursday.

  • Jon Rahm Is Set to Join Saudi-Backed LIV Golf

    Reigning Masters champion Jon Rahm is set to leave the PGA Tour for the Saudi-backed LIV Golf in an industry-rattling deal that stands to inject fresh uncertainty into the future of an already topsy-turvy sport. A deal for Rahm is expected to be announced this week, people familiar with the matter said, assuming talks don’t fall apart. The prospect of landing Rahm, a 29-year-old who’s ranked No. 3 in the world, is a stunning coup for LIV that comes at a jarring moment: the PGA Tour and Saudi Arabia’s Public Investment Fund are on the precipice of a Dec. 31 deadline to finalize a deal to join forces, an agreement between once-enemies that shocked the golf world but remains far from settled.

  • Why Hong Kong wants more business with Saudi Arabia

    In opening remarks on Thursday, Hong Kong Chief Executive John Lee called the gathering “yet another significant step forward, in the deepening [of] ties between Hong Kong and the Middle East, particularly the Kingdom of Saudi Arabia.” The two-day event was organized by the Hong Kong government, its stock exchange and the Future Investment Initiative (FII) Institute — a nonprofit founded by the Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund. The institute hosts an annual event in Riyadh dubbed “Davos in the Desert.” ADVERTISING

  • Wind and solar pose climate threat too, oil giant Saudi Arabia argues

    The pitch from the world’s biggest oil player includes a Saudi government document, obtained by POLITICO’s E&E News, expressing concern about the “lifecycle” greenhouse gas emissions of wind, solar and other renewable energy sources, whose popularity has grown as countries look for alternatives to planet-heating fossil fuels.

  • Russia and Saudi Arabia urge all OPEC+ powers to join oil cuts

    Saudi Arabia and Russia, the world's two biggest oil exporters, on Thursday called for all OPEC+ members to join an agreement on output cuts for the good of the global economy only days after a fractious meeting of the producers' club. Hours after Russian President Vladimir Putin went to Riyadh in a hastily arranged visit to meet Saudi Crown Prince Mohammed bin Salman, the Kremlin released a joint Russian-Saudi statement about the conclusion of their discussions.

  • Israel now willing to discuss post-war vision for Gaza, U.S. officials say

    Israel is showing more willingness to discuss plans for Gaza after the war, according to two U.S. officials with direct knowledge of talks this week between the Israeli government and the Biden administration.

  • Israel Says It Has Killed Half of Hamas’s Battalion Commanders

    The Israeli military has killed about half of Hamas’s midlevel commanders in Gaza, Israeli officials said, as its troops pressed forward Wednesday into the suspected hiding place of the group’s leader in a bid to eliminate its top brass. Israel is deploying a deliberate strategy to find and kill the militant group’s midlevel operatives to disrupt Hamas’s ability to fight in Gaza, though military analysts caution doing so is unlikely immediately to deliver the victory it craves.

  • Israel says it is engaged in the heaviest fighting yet in Gaza

    Some of the heaviest fighting since the start of Israel's air-and-ground assault on Gaza was taking place Wednesday in Khan Younis, with artillery shelling and gunfire echoing through the Palestinian territory's second-largest city. But combat operations were also continuing in Gaza's north, the focus of Israel's first phase of the war that Israel says is aimed at crushing Hamas. "We are in the heart of Jabaliya, in the heart of Shujaiya, and now also in the heart of Khan Younis," the head of Israel's Southern Command, Maj. Gen. Yaron Finkelman, said at a news briefing on Tuesday. Jabaliya, the site of a major refugee camp, and Shujaiya, are located in Gaza's north. Khan Younis, considered a Hamas stronghold, is located toward the south end of the Strip.

  • Cargo ship breaks down in Egypt’s Suez Canal and crashes into a bridge. Traffic is not disrupted

    A cargo ship broke down in Egypt's Suez Canal on Wednesday and crashed into a bridge over the crucial waterway, authorities said, adding that the incident did not disrupt traffic through the canal. Adm. Ossama Rabei, head of the Suez Canal Authority, said the Singapore-flagged One Orpheus went off course after its rudder broke down before ploughing into the Mansi Bridge, near the port city of Ismailia. The extent of the damage to both the ship and the bridge is unclear.

  • Iran says it sent a capsule capable of carrying animals into orbit as it prepares for human missions

    Iran said Wednesday it sent a capsule into orbit capable of carrying animals as it prepares for human missions in coming years. A report by the official IRNA news agency quoted Telecommunications Minister Isa Zarepour as saying the capsule was launched 130 kilometers (80 miles) into orbit. Zarepour said the launch of the 500-kilogram (1,000-pound) capsule is aimed at sending Iranian astronauts to space in coming years. He did not say if any animals were in the capsule.