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Recent stories from sustg

  • Top-10 ranking in sight for Tadawul
     

    Saudi Arabia’s stock exchange is expected to quickly rank among the world’s 10 most active markets if it opens up to international investors.

     
  • American Public Opposes Israel Striking Iran
     

    A new poll finds that only one in four Americans favors Israel conducting a military strike against Iran’s nuclear program. Seven in ten (69%) favor the US and other major powers continuing to pursue negotiations with Iran, a position that is supported by majorities of Republicans (58%), Democrats (79%) and Independents (67%).

     
  • SACM Career Fair and Graduation Ceremony Begins in Washington
     

    Saudi students from around the United States are descending on the U.S. capital for a graduation ceremony and career fair organized by the Saudi Arabian Cultural Mission (SACM) on May 26-27. SACM, in coordination with the Saudi Ministry of Higher Education, will host the SACM Career Fair and Graduation Ceremony this weekend at the Gaylord […]

     
  • 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 […]

     

MUST-READS

  • 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.

  • Saudi Arabia extends cut in amount of oil it sends to the world

    The OPEC oil cartel led by Saudi Arabia and allied producers including Russia made another big swipe at propping up lagging crude prices Thursday, expanding some output cuts into next year and bringing up-and-coming oil supplier Brazil into the fold. Lower oil prices have been a good thing for U.S. drivers, who have been able to fill their gas tanks for less money in recent months. But it’s bad news for OPEC+ countries whose oil income bolsters their economies and who have faced setbacks in pushing prices higher despite initial fears that the Israel-Hamas war could affect oil flows.

  • Saudi wealth fund to buy 49% of luxury hotel chain Rocco Forte

    Saudi Arabia's PIF sovereign wealth fund will buy a 49% stake in luxury hotel group Rocco Forte Hotels and help to support its expansion, the owner of Britain's Balmoral hotel said on Monday. PIF's purchase gives the hotel group an enterprise value of around 1.4 billion pounds ($1.8 billion), one source close to the matter said on Monday, confirming a report in the Financial Times.

  • Saudi Arabia unveils groundbreaking national data index

    The Saudi Data and Artificial Intelligence Authority (SDAIA) and the National Transformation Program (NTP) jointly launched the pioneering National Data Index (Nudei).

    Introduced during the Saudi Data Forum in Riyadh, this initiative, an evolved version of the Open Data Platform, and the Data Governance Platform, marks a significant stride toward fostering transparency, cultivating a national data-driven economy, and evaluating data maturity across government entities.

  • Saudi Arabia: Riyadh Season draws over 5 million visitors in record time since October 28 launch

    Riyadh Season, which commenced on October 28, has become a sensation, attracting an impressive 5 million visitors within less than a month.
    Under the theme of “Big Time,” Riyadh Season made an unforgettable launch with “The Battle of the Baddest,” a grand opening that brought together visitors and renowned personalities from around the world.

  • In cultural shift, Saudi Arabia allows pets on public transportation

    Saudi Arabia’s Transport General Authority posted a lengthy document on X documenting the rights of bus, train and boat passengers in the kingdom. In the document, the authority said that “small” animals can be brought onto modes of transportation provided they are kept in a box or designated area and don't pose a danger or obstruct people’s movement.

  • Saudi Arabia’s PIF Raises Up to $5 Billion Loan With Korea Export Agency

    Saudi Arabia’s sovereign wealth fund raised a loan of up to $5 billion from a group of nine banks in a deal that involves the Korean export credit agency to help boost trade between the two countries. The Public Investment Fund, which manages about $778 billion in assets, has agreed the initial $3 billion loan with a tenor of 13 years with Korea Trade Insurance Corp. and has an option to boost it to $5 billion, according to a statement on Tuesday.

  • Italy, Saudi and South Korea compete to host 2030 world fair

    Italy, Saudi Arabia and South Korea are battling it out in Paris on Tuesday for the right to host the Expo 2030 world fair, a five-yearly event that attracts millions of visitors and billions of dollars in investment. The three countries' delegations have been in horse-trading overdrive over the past few months to win votes from the 182 member states of the Bureau International des Expositions, holding splashy lobbying events in the French capital.

  • flynas Becomes 1st Saudi Airline To Join UN Tourism Organization

    Over the past few months, the airline has forged closer ties with the United Nations’ environmental and tourism agencies, including becoming the first Middle Eastern low-cost carrier to join forces with the United Nations Global Compact (UNGC) in August. The latest update sees flynas align with the UNWTO as an affiliate member, a first for Saudi Arabia.

  • Private sector employee can do two jobs in Saudi Arabia

    Earlier this year, the Ministry of Human Resources unveiled an authentication plan via its Qiwa platform obligating private sector institutions to document 20 per cent of their employees’ contracts in the first quarter of 2023, 50 per cent in the second half, and 80 per cent in the third quarter.
    The plan is designed to preserve rights of parties to the contractual relationship, provide a stable labour environment conducive for the employee’s productivity increase and boosting the job market in the kingdom.