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Recent stories from sustg

  • 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 […]

     
  • U.S. Might Have More Oil Than Saudi Arabia, But…
     

    People are often confused about the overall extent of U.S. oil reserves. Some claim that the U.S. has hundreds of billions or even trillions of barrels of oil waiting to be produced if bureaucrats will simply stop blocking development. In fact, in a recent debate between Republican candidates contending for Gabrielle Giffords’ recently vacated House seat, one candidate […]

     
  • Five short stories from World Energy Outlook
     

    The IEA’s World Energy Outlook (WEO) is an annual tradition, the result of much work, data analysis and presentation. A formative volume is produced for all to read and digest, but few of us have the time to do so in the detail required.  As such we rely to some extent on IEA presentations and summary documents. […]

     
  • Saudi Arabia will act to lower soaring oil prices
     

    In an op-ed in the Financial Times, Ali Al Naimi writes, “High international oil prices are bad news. Bad for Europe, bad for the US, bad for emerging economies and bad for the world’s poorest nations. A period of prolonged high prices is bad for all oil producing nations, including Saudi Arabia, and they are […]

     

MUST-READS

  • Rystad Energy on Saudi Arabia crude production cuts

    Regardless of the path they take, Saudi Arabia’s decision on the production cuts will ultimately shape the short-term future of global oil prices. The kingdom is balancing the desire to keep prices high by limiting supply with the knowledge that doing so will lead to a further drop in overall market share. Crude prices have experienced significant downward pressure in recent weeks, with prices fell below US$80 per bbl last week after a dramatic sell-off driven by oversupply concerns.

  • Central Bank Digital Currency Development Enters the Next Phase

    Central bank digital currencies can improve payment systems as well as financial inclusion—if they are appropriately designed. If not, they could pose risks. While not all countries may see an immediate case to deploy a CBDC, many countries are exploring CBDCs so they will have the option to introduce one in the future if it becomes pertinent for them. Benefits are more likely to come in time, following the policies pursued by countries and the private sector’s response, as well as the evolution of technology

  • How the U.S. Market Went Sideways for a Wind-Power Giant

    Denmark’s national oil-and-gas company, now known as Ørsted, bet big on renewables a decade ago. It renounced fossil fuels, renamed itself after a 19th-century physicist and embarked on a debt-fueled expansion, becoming the biggest offshore-wind developer outside China. Surfing investor enthusiasm for all things green, Ørsted surpassed BP in market value early in the pandemic.

  • China, Saudi Arabia sign currency swap agreement

    The People's Bank of China and the Saudi Central Bank recently signed a local currency swap agreement worth 50 billion yuan ($6.93 billion) or 26 billion Saudi riyals, both banks said on Monday, as bilateral relations continued to gather momentum.

    Saudi Arabia, the world's top oil exporter, and China, the world's biggest energy consumer, have worked to take relations beyond hydrocarbon ties in recent years, expanding collaboration into areas such as security and technology.

  • New airline compensation rules come into force in Saudi Arabia

    Under the guidelines, airlines are now obligated to offer a compensation of SR6,568 for lost or damaged luggage, ensuring that passengers are not left at a disadvantage due to mishandling of their belongings.

  • Great Expectations: The India-Middle East-Europe Economic Corridor

    The corridor project was launched through a memorandum of understanding signed by India, the United States, Saudi Arabia, the United Arab Emirates, the European Union, Germany, France, and Italy on the sidelines of the September G20 summit in New Delhi. It is envisaged as a network of rail, maritime, road, energy, and telecommunication links aimed at forging economic integration and growth by connecting South Asia, the Middle East, and Europe. The India-Middle East-Europe Economic Corridor is being framed as the West’s and India’s counter to China’s Belt and Road Initiative.

  • Vision 2030 Has Transformed Saudi Arabia’s Legal and Judicial Systems

    Saudi Arabia’s legal reforms aim to provide a legal environment conducive to business while at the same time upholding the centrality of sharia in the kingdom’s judicial and legal systems.

  • Yemen’s Houthis capture ship linked to Israeli billionaire

    A ship linked to an Israeli tycoon and its international crew have been captured by Yemen’s Ansarullah movement, better known as the Houthis. Israel has blamed the incident in the Red Sea on Iran, although Tehran denies any involvement. Meanwhile, Tel Aviv is also avoiding any reference to the apparent Israeli ownership of the vessel—possibly with the aim of reducing pressure to retaliate. The threat to Israeli civilian shipping highlights the broader repercussions of the war between Israel and the Palestinian Hamas movement in Gaza.

  • American officials growing frustrated with Israel over civilian death toll in Gaza

    US officials are becoming increasingly frustrated with Israel’s military and leadership over the targeting of civilians in Gaza, making these concerns clear during calls and meetings over the last 40 days. Israel has launched aerial, naval and land operations all across Gaza as it says it wants to put an end to Hamas over the militant group’s October 7 attacks, the deadliest Israel has witnessed in decades. In the meantime, Israel has forcibly displaced hundreds of thousands of Palestinian civilians and killed or injured thousands more.

  • Citigroup’s Top Saudi Arabia Banker Carmen Haddad Takes Vice Chairman Role

    Citigroup Inc. named Carmen Haddad, one of the firm’s most senior bankers in the Middle East, to a vice chairman role as the firm looks to deepen its business in the region. As Citigroup’s country officer for Saudi Arabia, Haddad helped lead the US bank’s efforts to re-establish a presence in the Kingdom in recent years, according to a memo to staff seen by Bloomberg. Haddad will now be vice chairman of Middle East wealth and banking, the memo said. Sponsored Content How an Economic Giant Is Fast Tracking Its New Miracle JapanGov