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Recent stories from sustg

  • Al-Rabiah moves to push foreign trade and investment
     

    Commerce and Industry Minister Tawfiq Al-Rabiah yesterday opened a major workshop for the development of Saudi commercial attaches as part of the ministry’s efforts to promote trade and investment relations with foreign countries. The workshop attended by top officials from related departments and agencies discussed ways to improve the performance of Saudi commercial attaches abroad […]

     
  • Graphic: The Rise of Saudi Oil Consumption
     

    Saudi Arabia uses as much oil per person as America, largely to run oil-fired power plants to run domestic air conditioners. And the more of its oil siphoned off for such uses, the less cushion there is in the worlds oil supply. Thats a big problem now but is becoming less of one. America and […]

     
  • Critical Commercial and Economic Ties: Interview with Jose Fernandez
     

    The 2nd US-Saudi Business Opportunities Forum in Atlanta in December brought together a high level delegation of over 200 Saudi officials and business people with over 1000 Americans to explore the $1 trillion-plus commercial openings available in the coming decade in the Kingdom. The response to the Forum – and what it means for American investment and […]

     
  • Secretary of State Clinton to Visit Saudi on Friday and Saturday
     

    Clinton will be in Saudi Arabia’s capital of Riyadh Friday and Saturday. There, she’ll meet with Saudi King Abdullah and participate in an event dedicated to the “strategic cooperation” between the U.S. and Gulf Arab states. Washington and many of its allies say Syrian President Bashar Assad has lost all legitimacy in a year of […]

     
  • Geithner welcomes Saudi oil pledge
     

    U.S. Treasury Secretary Timothy Geithner said he welcomed Saudi Arabia’s pledge to continue to make sure oil supplies are sufficient to meet demand.

     
  • Car-nage
     

    In his weekly piece for Arab News, Abdulateef Al-Mulhim takes a look at the extraordinary toll exacted on Saudi roads. With well-engineered roads and streets and access to the latest and safest automobiles, he says, Saudi Arabia still leads the world in highway fatalities. He offers a few ideas about how to gain control over […]

     
  • Jadwa Saudi Chartbook – March 2012 – Banking
     

    Bank deposits rose for the fifth consecutive month in January, with demand deposits accounting for the entire rise to reach almost 60 percent of total bank deposits. Bank excess deposits at SAMA remained very high, giving scope for further lending growth.    

     
  • Jadwa Saudi Chartbook – March 2012 – Trade
     

    According to Jadwa Investment’s March 2012 Chart Book,  “Non-oil exports hit a new all-time high in December owing to greater production of petrochemicals and plastics. Imports also jumped that month and data on letters of credit issued for imports suggest further rises are likely in the months ahead.”  

     
  • What to Know About the TASI Opening
     

    Saudi Arabia, the world’s largest oil exporter and the Middle East’s biggest economy, is about to complete a gradual process to open its stock market, known as the Tadawul or TASI, directly to international investors for the first time. The initial step toward this action was to give other GCC countries the right to invest […]

     

MUST-READS

  • Saudi SMEs see $270m boost from government-backed fund

    More than SR1 billion ($270 million) has been allocated to small and medium enterprises in Saudi Arabia since 2017 by a government-backed platform known as Forsa. The Human Resources Development Fund announced in a statement that the platform, part of the “Nine Tenths” program, has witnessed significant growth, with approximately SR500 million being allocated in the year 2023 alone. Forsa serves as a link between suppliers and buyers, enabling registered entities to electronically review and submit price quotations for government and private sector procurement, according to the statement.

  • Naga review: A Hollywood-style comedy-thriller, but a distinctly Saudi story

    Adwa Bader plays Sarah, a young Saudi woman who is given a strict curfew by her incredibly conservative father after she asks him if she can go shopping. But the shopping spree is a bluff and Sarah has different plans. Instead of perusing the stores around Riyadh, Sarah meets up for a secret rendezvous with her potential suitor Saad (Yazeed Almajyul). Saad tells Sarah he has an invitation to an underground party way out in the desert. Sarah can’t resist the allure and quickly agrees to go. But only if Saad promises to have her back by 10pm, which is when her father has insisted he’ll be outside the store to pick her up.

  • Saudi Arabia’s Crown Prince arrives in Qatar for 44th GCC summit

    The summit is expected to tackle several topics such as political, security and economic cooperation among GCC countries with the ongoing events in Gaza dominating the summit’s work, Al Arabiya reported. The summit is being held “at a time where our region and the world are witnessing great challenges that our Gulf countries can play a major role in resolving and mitigating their effects,” Qatar’s Emir said on X. Israel launched a war on Gaza after Hamas militants stormed across the Israeli border on October 7 and carried out an attack that left 1,200 people dead.

  • Day 5 of COP28: Saudi Green Initiative Forum begins

    The Saudi Green Initiative Forum kicked off on Monday as COP28 continues to mobilize world leaders towards serious action against climate change. Held under the slogan “From Ambition to Action”, the third edition of the forum discussed critical sustainability, primarily energy transition, protecting the seas, and unlocking climate finance to enable climate action at the UN climate summit.

  • Saudi Arabia seeking further digital advancements in Silicon Valley 

    Discussions between Abdullah bin Amer Al-Swaha and Antonio Neri, president and CEO of Hewlett Packard Enterprise, were held on Dec. 5 to enhance local content and contribute to the growth of the Kingdom’s digital economy. The meeting focused on extending the strategic partnership into modern technology, cloud computing, and the localization of servers, as reported by the Saudi Press Agency. The minister highlighted Saudi Arabia’s potential for a strong digital infrastructure and its status as the largest market in the region. Talks also centered around the exploration of collaboration and partnership opportunities across various sectors.

  • Saudi Arabians envisage a rise in cross-border payments by 2024, study shows

    Mastercard’s Borderless Payments Report 2023 reveals 43% of people in Saudi Arabia expect to send cross-border payments more frequently in the next 12 months. Around 40% of people in Saudi Arabia expect to receive more cross-border payments in the next year.

  • Can Saudi Pro League become one of the world’s ‘top five’?

    A room full of raised eyebrows greeted Cristiano Ronaldo’s assertion in September that Saudi Arabia will one day be home to one of the ‘top five’ leagues in world football. Indeed, Ronaldo was being a good marketeer, playing his role as an ambassador for Saudi football to perfection. After all, this division has historically attracted little global interest despite being home to Asia’s most successful club team ever – Al Hilal.

  • Saudi Arabia’s Barn’s to launch IPO within 12 months

    Saudi Arabia’s Barn’s is planning to launch an initial public offering (IPO) within the next year. Founded in 1992 by the Al Amjaad Group, Barn’s currently operates more than 550 stores across Saudi Arabia – the Middle East’s largest market. Of its total store count, more than 70% is franchised. Speaking at the coffee chain’s annual Franchise Meeting in Jeddah, Al Amjaad Group CEO Mohamed Al Zain said the planned IPO would enable the public ‘to move from loyal customers to investors in the company’s success’.

  • Dassault Aviation CEO Confirms Rafale Talks With Saudi Arabia

    Dassault Aviation SA confirmed negotiations to sell Rafale fighter jets to Saudi Arabia, and said the company is confident an order from India for the hot-selling warplane will come through. Saudi Arabia is especially interested in the Rafale because, unlike with the Eurofighter Typhoon, there’s no worry about unforeseen export controls, Dassault Aviation Chief Executive Officer Eric Trappier told reporters Tuesday in Paris. The talks with Saudi Arabia, under way for several months, are unaffected by the conflict between Israel and Hamas, he added.

  • Record US oil output challenges Saudi mastery

    U.S. crude oil production set a record for the second month running in September, highlighting the challenge to Saudi Arabia and its OPEC⁺ partners as they cut their own production to boost prices. Repeated OPEC⁺ output cuts since the fourth quarter of 2022 have thrown a lifeline to U.S. producers, averting a deeper slump in prices and conceding more market share to them. U.S. crude and condensate production increased by 224,000 barrels per day (b/d) to 13.24 million b/d in September from August, according to the U.S. Energy Information Administration.