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Ahead of Budget Announcement, Inflation in Saudi Arabia Hits 7-Year Low
- December 23,2014
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- SUSTG Team
Ahead of Saudi Arabia’s budget announcement, which is expected for the end of the week after a special meeting, inflation in Saudi Arabia is approaching its lowest levels since April 2007, Asharq Alawsat reports. The 7-year low is expected to be official when Saudi Arabia’s Central Department of Statistics and Information releases official data before […]
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#SaudiTBT: King Faisal Bin Abdulaziz al-Saud on the Tarmac of Le Bourget Airport in Paris, 1939
- November 13,2014
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- Richard Wilson
Returning in March 1939 from the London Conference (St. James Palace Conference) which attempted to negotiate an agreement between Jews and Arabs in Palestine, Faisal Bin Abdulaziz Al-Saud stands on the tarmac of Le Bourget Airport in Paris, France with members of his delegation. Among other issues, the London Conference was unable to resolve the matter of […]
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Trading Begins Tomorrow on NCB’s ‘Steeply’ Discounted IPO as the Government Eyes Financial Sector Reforms
- November 11,2014
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- Lucien Zeigler
Trading is set to begin tomorrow on steeply discounted shares of Saudi Arabia’s National Commercial Bank as Saudi Arabia’s capital market regulator will introduce rules for credit rating agencies next September, according to reports. Matthew Martin and Sarmad Khan of Bloomberg quote Asim Bukhtiar, a vice president and head of research at Riyad Capital, as saying […]
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The Best SPA Photos from October 2014
- November 3,2014
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- SUSTG Team
In the September edition of the best photos from the Saudi Press Agency, a dazzling performance from Saudi security forces, infrastructure in the Kingdom, ancient woodworking and more.
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Investing in Middle East Healthcare for both Financial and Social Returns
- October 31,2014
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- Mussaad Al-Razouki
It is no secret that Gulf Cooperation Council (GCC) governments are spending billions of dinars, riyals and dirhams on upgrading their healthcare infrastructure. Local and regional newspapers are filled with stories on newer, bigger and flashier hospital projects. Saudi Arabia’s 2013-2014 budget includes funds for 19 new hospitals in addition to the 102 hospitals currently […]
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At C3 US-Arab Business Summit in New York, Experts Discuss Opportunities
- October 8,2014
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- SUSTG Team
On Monday, business and government officials gathered in New York City for the C3 U.S.-Arab Business Summit to discuss opportunities and key issues to the region. In his Keynote address, UAE Businessman Khalaf Ahmad Al Habtoor, Chairman of the Al Habtoor Group, discussed his path to success and how he built his business empire over […]
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John Sfakianakis Hired by London-Based Ashmore Group PLC to Lead Middle East Expansion – Report
- September 29,2014
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- SUSTG Team
Bloomberg’s Matthew Martin reports that veteran banker John Sfakianakis has been hired by UK-based Ashmore Group PLC to head expansion into the Kingdom ahead of Saudi Arabia’s market opening. According to the report, citing unnamed sources, Sfakianakis will be director for the GCC for Ashmore. Sfakianakis is a frequent contributor to SUSTG.com.
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Jamal Khashoggi on the BBC News Hour: Saudi Arabia Will Continue to Fight IS ‘Short of Sending Ground Troops’ [Audio]
- September 25,2014
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- Lucien Zeigler
In an interview on the BBC News Hour, Saudi journalist Jamal Khashoggi addressed the latest developments in the joint U.S.-Arab military action against Islamic State positions in Iraq and Syria. “Saudi Arabia is already at war with ISIS since 2003, when IS was still Al Qaeda, so it is the same thing – the same […]
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UAE Fighter Pilots who Bombed IS in Syria Led by Female Commander
- September 25,2014
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- SUSTG Team
A Saudi Prince and a female fighter pilot from the United Arab Emirates took part in this week’s airstrikes on the Islamic State in Syria, according to reports and photos emerging on the social networking site Twitter. Fighter pilots from the UAE’s air force were led by Maj. Mariam Al Mansouri, a female commander of the […]
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‘Security, Lack of Co-Operation’ to Blame in Delay of Newcomers to Saudi’s Mobile Market, Report Finds
- September 24,2014
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- SUSTG Team
Reuters reports that state security requirements and a lack of co-operation from Saudi Arabia’s existing telecom operators have delayed the launch of two new mobile companies until later this year, citing their chief executives. “VMMEA in March said it hoped to launch services in the first half of 2014, while Mobily initially said its Jawraa’s […]
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MUST-READS
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The Ukraine Crisis and the Gulf: an Emirati Perspective
Whatever Putin’s initial ambitions, they were hampered by these underestimations. He has yet to bring convincing evidence to legally justify this attack. All claims arguing that Russia’s war was a pre-emptive strike against Western aggression (i.e. the presence of Ukrainian-based chemical factories or the act of self-defense against NATO’s eastward expansion coupled with threats against Russian security) are not substantiated by any evidence. People who buy these falsehoods do so more out of an anti-Western stance, and because they are fascinated by Putin’s one-man show.
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Russia’s Use of Iranian Kamikaze Drones Creates New Dangers for Ukrainian Troops
Over the past week, Shahed-136 delta-wing drones, repainted in Russian colors and rebranded as Geranium 2, started appearing over Ukrainian armor and artillery positions in the northeastern Kharkiv region, said Col. Rodion Kulagin, commander of artillery of Ukraine’s 92nd Mechanized Brigade.
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Saudi National Bank completes issuance of $878m worth of sukuk
Saudi National Bank has finalized a SR3.3 billion ($878 million) sukuk issuance in a bid to strengthen its capital base. Denominated in Saudi riyals, the offer started in late August and included a total of 3,300 bonds at a par value of SR1 million, according to a bourse filing. SNB Capital acted as the sole book-runner, lead arranger, and lead manager of the issuance.
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Americans Back Ukrainian Goal of Reclaiming Territory
As the Russia-Ukraine war rages on, a clear majority of Americans would rather see the U.S. support Ukraine in reclaiming lost territory from Russia, even if it means a prolonged war, than see a quick end to the conflict, even if it means ceding territory to Russia.
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Is Iran leveraging Ukraine war to access advanced Russian arms?
The commander of Iran’s Air Force says Tehran plans to buy advanced Sukhoi-35 (Su-35) fighter jets from Russia to renew its aging fleet—an upgrade from previous reported plans to purchase Su-30 aircraft. The announcement follows US allegations that the Islamic Republic is selling drones to Moscow, in what some observers now portray as part of a quid pro quo. The Iranian foreign ministry has neither confirmed nor denied either report but insists that growing cooperation with Russia is not out of the ordinary.
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Liz Truss and the Middle East: Where new UK PM stands on key issues
But her record as foreign secretary and previously as a minister for international trade also offers clues as to the likely direction the Truss-led government will take in the key policy areas involving the UK and the Middle East.
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Iran sends first shipment of drones to Russia for use in Ukraine
Transport planes departed Iran on Aug. 19 hauling at least two types of unmanned aerial vehicles, both capable of carrying munitions for attacks on radars, artillery and other military targets, according to intelligence gathered by U.S. and other spy agencies. But while the weapons could provide a significant boost for Russia’s war effort against Ukraine, the transfer has been marred by technical problems, security officials from the United States and an allied government said in interviews. In early tests by the Russians, the Iranian drones experienced numerous failures, the officials said.
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US Details Its Biggest Ukraine Arms Package Yet
The almost $3 billion package will be the largest single chunk of the total of $13.7 billion that the United States has U.S. announced since Russia’s February invasion. That total is more than the annual budget of some federal programs, such as the National Science Foundation ($9.2 billion) and the Small Business Administration ($1.7 billion), according to Statista. It is larger than the annual budgets of the federal judiciary ($9.7 billion), Congress ($6.6 billion), or the Executive Office of the President ($0.6 billion). It is creeping up on the budgets of the Environmental Protection Agency ($15.9 billion), if not NASA ($24.9 billion).
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Pride of Ukraine: Usyk beats Joshua, keeps heavyweight belts
Oleksandr Usyk kissed the blue-and-yellow flag of Ukraine and looked to the Saudi Arabian sky as he waited to discover if he had honored his war-torn country by retaining his world heavyweight titles. When he heard the winning words “and still,” an emotional Usyk raised his left arm and pulled the flag over his face. Six months ago, he was patrolling the streets of Kyiv with an automatic rifle and defending Ukraine from the invading Russians.
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Lebanese buyer rejects first batch of Ukrainian grain
The buyer has raised concerns over the quality of the grain, due to the five-month delay in its shipment. The charterer is now looking for a new buyer inside Lebanon or the Middle East, an Istanbul-based ship agent with knowledge of the matter told Middle East Eye.
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