SUSTG.com / Research

Discover stories, topics, and more about Saudi Arebia faster.

We can't find results matching your search.

Adjust your search and try again or browse topics and stories below.

Recent stories from sustg

  • 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 […]

     
  • Water Brings Green to Saudi Arabia
     

    Over the last two-and-a-half decades, a series of NASA’s Landsat satellites have captured these pictures of the growing agriculture industry in the northern reaches of the Syrian Desert in Saudi Arabia, not far from Jordan. Farmers use a technique called center-pivot irrigation to bring up water from below the desert floor to grow wheat and […]

     

MUST-READS

  • MBC Group Floats 10% Stake On Saudi Stock Exchange

    Shareholders at Saudi Arabian media giant MBC Group are seeking to raise as much as $222 million by listing the company on the Saudi Exchange, known as Tadawul. We reported on plans for the public offering earlier this month. The broadcaster is selling 33.25 million new shares, equivalent to 10 per cent of its total capital. The price range for the sale has been set between 23 and 25 riyals a share. HSBC Saudi Arabia is the lead manager on the sale alongside JP Morgan Saudi Arabia and SNB Capital, who are on board as financial advisors.

  • Tensions Rise at the COP28 Climate Summit

    Al Jaber struck back against critics of fossil fuels, who want to see them phased out in the coming decades in an effort to keep global temperatures from rising 1.5 degrees Celsius, a level considered disastrous by many experts. “There is no science out there, or no scenario out there, that says that the phaseout of fossil fuel is what’s going to achieve 1.5 C,” he said at an event before the summit.

  • Metallica set to make history as first US heavy metal band to play in Saudi Arabia

    Metallica will make history next month as the first US heavy metal band to play in Saudi Arabia. The group, composed of James Hetfield, Lars Ulrich, Kirk Hammett and Robert Trujillo, will perform in Riyadh on December 14, kicking off the three-day Soundstorm festival, one of the region's biggest events of its kind since its launch in 2019. A post from Metallica on Facebook read: “We're not done with 2023 yet, as an amazing opportunity has just come our way to perform at a major Festival, which we've never played, in a part of the world we rarely visit. We are excited to announce that on Thursday December 14th we will be the first ever hard rock band to play MDLBeast's Soundstorm Festival in Riyadh, Saudi Arabia.”

  • After success abroad, Saudi designers hit the runway at home

    Couturier Adnan Akbar's past clients included Princess Diana and two French first ladies, but until recently he had never staged a major fashion show in his native Saudi Arabia. The 74-year-old, dubbed the "Saint Laurent of the Middle East", was among the most decorated designers at this year's inaugural Riyadh Fashion Week, a milestone in a country that used to require women to wear hijab headscarves and abaya robes in public. On a runway set up in Riyadh's financial district, in front of a mixed-gender crowd of Instagram influencers and diplomats, models donned more than two dozen of Akbar's floor-length gowns, and one wedding dress sewn from French lace.

  • US compels Saudi fund to exit Altman-backed AI chip startup

    The Biden administration has forced a Saudi Aramco-backed venture capital firm to sell its shares in a Silicon Valley AI chip startup backed by OpenAI co-founder Sam Altman, Bloomberg News reported on Thursday. Altman-backed Rain Neuromorphics, a startup designing chips that mimic the way the brain works and aims to serve companies using artificial intelligence (AI) algorithms, raised $25 million in 2022.

  • America’s Cup Racing Sets Sail In Saudi Arabia

    When it comes to high-performance racing sailboats, no other event combines history, tradition and cutting-edge innovation quite like the America’s Cup. While the actual America’s Cup Regatta is scheduled to take place in Barcelona next summer, race teams are competing in a series of preliminary regattas all around the world between now and then. And for the first time in the America’s Cup’s 172-year history, the world’s top teams will be racing in the Kingdom of Saudi Arabia at The America’s Cup Preliminary Regatta Jeddah, presented by NEOM.

  • Red Sea Film Festival Opens With Will Smith, Johnny Depp, Sharon Stone

    Saudi Arabia’s Red Sea Film Festival kicked off its third edition on Thursday with the world premiere of Dubai-based Iraqi director Yasir Al-Yasiri’s fantasy “HWJN” and a glitzy red carpet featuring Will Smith, Sharon Stone, Baz Luhrmann, Ranveer Singh and a slew of Arabic stars. Johnny Depp also posed on the red carpet and attended the opening gala, but kept a lower profile. Depp is at the festival with Maïwenn’s Cannes-opener “Jeanne du Barry,” which was funded by the Red Sea Film Foundation. Maïwenn also made the trek to Jeddah. Depp’s relationship with the foundation now continues with his directorial effort “Modi,” a biopic about Italian painter and sculptor Amedeo Modigliani also backed by the fund. The actor is scheduled to deliver an onstage conversation in the coming days.

  • As Saudi Arabia wins bid for 2030 World Expo, a new book lifts the lid on the Kingdom’s push to be a key art world player

    Saudi Arabia boosted its cultural and diplomatic credentials yesterday (28 November) by winning the bid to host the Expo 2030 world fair, beating Italy and South Korea in a landslide vote during a closed-door meeting in Paris. The victory is the latest move to rebrand a state considered isolationist and ultra conservative until only a decade ago, which also has a concerning record on human rights.

  • Anyone For Tennis In Saudi Arabia?

    With a growing fan and player base, tennis is fast capturing the hearts and minds in the Kingdom, which boasts a 50 per cent sports participation rate. The Saudi Tennis Federation has a clear target demographic: the country’s 20m citizens under the age of 30. A look at the faces this week in the Fan Zone at the Next Gen ATP Finals presented by NEOM in Jeddah and in the stands at the King Abdullah Sports City confirms that young Saudis are quickly warming to the sport.

  • Saudi Arabia could ‘flush’ the oil market with a flood of supply to regain control over prices in the face of rising US production, crude expert says

    "We've more or less been saying potentially Saudi needs to just flush this thing out," Paul Sankey from Sankey Research told CNBC on Friday. He estimated that Saudi Arabia has capacity to ramp up its output by an additional 2.5 million barrels a day. For now, OPEC's de factor leader is trying to prop up crude by pumping less. On Thursday, it extended its cut of 1 million barrel per day into the first quarter. But Sankey noted Saudi Arabia shocked markets in 2014, when it similarly tried to flush the market by sinking crude prices from highs of around $110 a barrel to $50.