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Recent stories from sustg

  • Global Markets Drag on TASI
     

    The TASI has dipped over the past month, primarily due to global factors. First quarter results of listed companies point to ongoing strength in the domestic economy, with profits 14.9 percent higher than in the first quarter of 2011. Nonetheless, the TASI is down by 10 percent since the end of March, mirroring falls on […]

     
  • USTR: Saudi Continues to Protect Intellectual Property Rights
     

    The Office of the U.S. Trade Representative on Monday released the 2012 Special 301 Report reviewing the intellectual property protection policies of foreign nations.  Saudi Arabia is not named on the “Watch List” again this year and has not been since a successful Out-of-Cycle Review in 2009 to resolve IP issues in cooperation with the […]

     
  • How Gulf Countries Are Splurging at Home
     

    Asa Fitch, writing in the Wall Street Journal, details the extent to which oil dollars are fueling economic growth “at home” for GCC countries: Booming oil prices are flooding Arab countries with money, but where the lion’s share of that wealth would once have been pumped into the world’s financial markets, much of it is […]

     
  • Island in the Gulf – A Film of Juraid Island
     

    One of the great joys of living in Saudi Arabia has always been the natural environment itself – the dunes, the jebals and especially the Gulf with its beaches, reefs and islands. For those lucky enough to visit Juraid Island, fifteen miles offshore from Jubail, the experience has always been unforgettable. A pristine island shaped […]

     
  • Foreign Military Sales Keep Production Lines Hot
     

    “Partnership building is part of one of the largest benefits that we see,” Hunt said. “It’s building and maintaining friendships, it’s about building allies. United States Central Command, or CENTCOM, is obviously a very busy place for the United States now. The more that we can help those countries not only defend, but operate amongst […]

     
  • SEC unveils SR452b projects
     

    The Saudi Electricity Company (SEC) has allocated SR452 billion to implement energy projects until the year 2021 according to SEC Chairman of the Board of Directors Dr. Saleh Bin Hussein Al-Awaji. These projects will provide services consistent with international standards, including building up an adequate power at a peak time about 10 percent of combined capacity. The […]

     
  • US and Saudi team up for renewable energy projects
     

    The United States and Saudi Arabia are prepared to sign a number of deals related to the establishment of investment and service projects depending on renewable energy resources, Arab News reported. US Assistant Secretary of Commerce for Manufacturing and Services, Nicole Lamb, said the US would support the Kingdom on its drive to develop clean […]

     
  • The arms spending map of the world
     

    How much do countries spend on their militaries? This data from the Stockholm International Peace research Institute shows the world in arms spending – both in dollars over time and as a percentage of GDP.

     
  • Major Banks Expanding in Saudi Arabia
     

    “We’d be crazy to limit ourselves to a handful of bankers when we can see oil prices are going to sustain the Saudi economy for the foreseeable future,” Rory Gilbert, the head of Middle East and North Africa at London-based Barclays’s wealth management unit, said in an interview this week in Dubai. “In four or […]

     
  • A Nuclear Iran: CNN
     

    What do we really know about the Iranian nuclear threat?  Iran says it wants the right to have its peaceful nuclear program formally recognized.  But from the outside, Iran has long given the impression it has something to hide.  And fear that Iran may soon have the capability to build a nuclear weapon, has spurred […]

     

MUST-READS

  • Saudi intensifies investments in tourism talents

    The Ministry of Tourism had earlier allocated US$100 million to the Tourism Pioneers programme, which enabled 100,000 young people from its second-largest city, Jeddah to study at top institutions in France, Spain, Italy, Switzerland, the UK and Australia in 2022. On completion, participants will be equipped to “secure employment opportunities in leading hospitality companies in the Kingdom,” to help “create a skilled and ambitious workforce to support the tourism sector,” said the ministry in a statement.

  • Saudi intensifies investments in tourism talents

    The Riyadh School of Tourism and Hospitality, set to open in 4Q2024, is co-founded by the tourism ministry and Riyadh-based entertainment mega project Qiddiya in collaboration with the UNWTO. The institute will offer a range of educational programmes, from diplomas to Master’s degrees, and intends to welcome 25,000 students annually by 2030.

  • Boeing aims to ‘stabilize’ defense business as it pitches Mideast countries

    The Dubai Air Show opened with a whopping win for the company’s commercial business: a $52 billion purchase of widebody airliners from Emirates, followed by other orders, including a rebuy of 737 Maxes by Ethiopian Airlines. And on the defense side, NATO announced yesterday that it would buy six Boeing surveillance aircraft, the E-7 Wedgetail, marking another international win for the program. That all came just weeks after the company told investors that its defense business was proving harder to turn around than expected amid high-profile program delays and losses on fixed-price contract

  • Premature Gaza babies evacuated to Egypt; deaths reported at Indonesian hospital

    A first group of prematurely born babies evacuated from Gaza's biggest hospital were taken into Egypt for treatment on Monday, while Palestinian health authorities said people were killed inside another hospital encircled by Israeli tanks.

    More than two dozens babies were expected to cross, according to the Palestinian Red Crescent and Egypt's Al Qahera TV. The newborns had been in north Gaza's Al Shifa hospital, where several other newborns died amid a collapse in medical services partly caused by power cuts when fuel ran out.

  • Foreign investment in Saudi capital market reaches $93bn

    Foreign investment in the Saudi capital market reached SAR347.01 billion ($92.52 billion) in 2022, up from SAR305.34 billion in 2021 and SAR86.86 billion in 2018, according to the kingdom’s market regulator. Overseas investors constituted 14.2 percent of the total free float value in the Tadawul All Share Index (Tasi) last year, compared to 3.77 percent in 2018, the state-owned SPA news agency reported.

  • Foreign firms race to open Saudi offices before deadline

    A wave of ribbon-cutting ceremonies is sweeping the Saudi capital as multinationals face a January deadline to open regional headquarters in the Gulf kingdom or lose out on government contracts. In what has become a common scene, executives in suits and Saudi officials in white robes gather to inaugurate the new offices, sipping Arabic coffee in a haze of incense smoke while singing the praises of last year’s fastest-growing G20 economy. Announced in February 2021, Saudi Arabia’s regional headquarters (RHQ) programme is widely seen as a bid to compete with Dubai in the neighbouring United Arab Emirates, a favourite base for global firms with business in the Middle East.

  • Multinationals Rush to Sign Contracts with Saudi Arabia

    A wave of ribbon-cutting ceremonies is sweeping the Saudi capital as multinationals face a January deadline to open regional headquarters in the Gulf kingdom or lose out on government contracts.
    In what has become a common scene, executives in suits and Saudi officials in white robes gather to inaugurate the new offices, sipping Arabic coffee in a haze of incense smoke while singing the praises of last year's fastest-growing G20 economy.

  • Saudi social insurance subscribers reach 10.7 mln in Q3 2023: GOSI

    Saudi Arabia’s General Organization for Social Insurance (GOSI) said a total of 10.69 million public and private sector employees were registered in the social insurance scheme by the end of Q3 2023, an increase of almost 2% from 10.5 million in Q2 2023

  • Record-shattering roller coaster simulates falling from cliff with 155 mph speeds

    The massive roller coaster called "Falcon’s Flight" is located at Six Flags Qiddiya – a theme park that’s under development near Riyadh as part of the country’s Vision 2030 initiative aimed at promoting the Kingdom of Saudi Arabia’s economic, social and cultural diversification. The park is expected to open in October 2024. The Falcon’s Flight roller coaster is expected to have a 650-foot height and reach top speeds of 155 mph over the course of a 13,000-foot track, according to Intamin, the roller coaster’s designer and manufacturer. One of its major drops is designed to emulate a plunge over the side of a cliff.

  • Deals worth $1.5bn likely to be signed at Egyptian-Saudi business forum

    Investments between Saudi Arabia and Egypt are set to flourish as multiple agreements worth $1.5 billion are expected to be signed during the Egyptian-Saudi Business Forum. According to Egyptian-Saudi Business Council member Turki Al-Hokair, the event will coincide with the visit of Saudi Commerce Minister Majid bin Abdullah Al-Qasabi to Egypt and is scheduled for Nov. 20 in Cairo, Egyptian newspaper Al-Ahram reported.