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Recent stories from sustg

  • Islamic funds seek socially responsible roadmap
     

    The Islamic investment sector can widen its customer base by adopting a socially responsible model, according to industry experts, but distribution channels, a sophisticated investor base and incentive schemes need to be enhanced first. The links between Islamic finance and socially responsible investments (SRI) are not new, but the former needs a similar transformation which […]

     
  • Changing patterns in U.S. crude imports
     

    U.S. crude oil import patterns have been undergoing significant shifts in recent months. While growing domestic tight oil production from the Bakken formation in North Dakota and elsewhere has helped displace imports from some countries, U.S. import volumes from the Canadian oil sands and Saudi Arabia have been on the rise. In total, U.S. crude […]

     
  • At the SACM Career Fair in Washington, Saudi Arabia’s Brightest Are Met With Opportunities (PHOTOS)
     

    Across the United States, around the end of the month of May every year, graduating students from high schools and universities join with families and friends to celebrate their achievements in

     
  • Saudi Satire Ignites YouTube’s Massive Growth in Middle East
     

    Fahad Albutairi never expected a career in broadcast or comedy, and he certainly didn’t expect to emerge as a YouTube star known to millions. Albutairi is the co-founder and star of the La Yekthar Show, a small cadre of YouTube shows shot in Saudi Arabia that have become wildly popular in the last year. His […]

     
  • Saudi female entrepreneurs exploit changing attitudes
     

    In Saudi Arabia, a small but determined number of women are overcoming obstacles to build their own thriving businesses. Social constraints in the conservative Kingdom have not stopped women from amassing substantial individual wealth. An estimated $11.9 billion is held by women primarily in bonds and bank accounts, according to asset managers Al Masah Capital. […]

     
  • Saudi Arabian Airlines Officially Becomes ‘Saudia’, Embraces Privatization
     

    Saudi Arabian Airlines has today been formally renamed Saudia and has become a full member of the SkyTeam alliance while at the same time confirming the first stage of the long-awaited privatisation will go ahead in the next month.

     
  • Saudi construction sector ‘most buoyant globally’
     

    Massive construction projects in the GCC, particularly around social and transport infrastructure, will offer tremendous opportunities valued at up to $500 billion for contractors, Deloitte Middle East’s annual report “GCC Powers of Construction: Five Lessons to Learn From” released Wednesday said. The Deloitte report showed that there is imminent growth in the Saudi Arabian construction […]

     
  • IMAX ARABIA 3D Now Available for Mass Consumption on Netflix Streaming
     

    IMAX ARABIA 3D, the film directed by Hamzah Jamjoom, is now available to watch at any time on Netflix’s instant streaming option for the first time.

     
  • Saudi Budget Needs Less Than $80/Bbl To Be Balanced
     

    Top oil exporter Saudi Arabia would still be able to balance its budget even if oil prices fall to less than $80 per barrel, Al Arabiya television reported Tuesday, citing the kingdom’s finance minister, Ibrahim Al-Assaf. “As you know the oil revenues are affected by two factors; price and production…the price that leads to a […]

     
  • The Gulf Military Balance in 2012
     

    The Burke Chair at CSIS is issuing a new report called the Gulf Military Balance in 2012. The report shows that the Gulf military balance is dominated by five major groups of military forces: the Southern Gulf states, Iran, Iraq, outside powers like the US, and non-state actors like the various elements of Al Qa’ida, the […]

     

MUST-READS

  • Saudi Arabia calls for restraint after air strikes on Yemen

    Saudi Arabia called for restraint and "avoiding escalation" in light of the air strikes launched by the United States and Britain against sites linked to the Houthi movement in Yemen, the kingdom's foreign ministry said on Friday. Saudi Arabia, which has in recent months engaged in peace talks with Yemen's Houthis, was closely monitoring the situation with "great concern," the foreign ministry said in a statement.

  • New premium residency categories will allow foreigners to buy property, invest in Saudi Arabia

    Saudi Arabia has added five new categories allowing eligible applicants to sign up for residency permit, in a move that aims to ease the process for residents who wish to apply for the visa scheme.
    The categories are: Skilled and talented individuals (specialists, executives), talents (cultural, sports), investors, entrepreneurs and property owners.

  • ROSHN, EVIQ sign deal to speed up EV adoption in Saudi Arabia

    Saudi Arabia’s real estate developer ROSHN Group has signed a deal with Electric Vehicles Infrastructure Co. to accelerate EV adoption in the country. The deal between the Public Investment Fund-owned realty firm and the EV charging solution provider will give a new impetus to the Kingdom’s ongoing efforts to fight climate change. Under the agreement, ROSHN and EVIQ will work to assess and develop infrastructure solutions tailored for EVs in residential communities and commercial properties that fall under ROSHN’s development umbrella across the Kingdom, the Saudi Press Agency reported.

  • Saudi Arabia Raises Mineral Wealth Estimate to $2.5 Trillion

    Alkhorayef confirmed that new findings include rare earth elements, transitional metals, and significant rises in the amounts of phosphate ore and other minerals like copper, zinc, and gold. He highlighted that the announced results are a result of efforts in recent years in exploration and mining surveys. This includes substantial work in issuing mineral exploration licenses, which have quadrupled in the last three years compared to the six years before the new mining investment system.

  • Real Madrid Star Toni Kroos Mocks Saudi Arabia Fans On Social Media

    "The truth is that the fans have been excellent," the Spaniard said. "It was a spectacular atmosphere. A more soccer atmosphere," he further stated. On this occasion, punters in the KSU Stadium were treated to a Madrid derby for the ages - an eight goal thriller that lasted 120 minutes and looked set to be headed for penalties until substitutes Brahim Diaz and Joselu both netted in extra time.

  • Saudi Arabia’s Quality of Life Program concludes deals worth over $200m to promote positive living

    Saudi Arabia’s Quality of Life Program concluded 20 agreements and strategic partnerships with government agencies, the private sector, and the non-profit sector in 2023, resulting in the marketing and implementation of investment opportunities totaling SR800 million ($213 million) in various sectors. The agreements aim to support the program’s responsibility to achieve goals targeting quality of life in the Kingdom’s Vision 2030.

  • Saudi Arabia’s NEOM: $500 bln project unveils new mega mountain resort Aquellum

    Saudi Arabia’s NEOM – the Kingdom’s $500 billion mega business and tourism project – has unveiled its latest luxury destination; mountain resort Aquellum. Billed as an “experiential space embedded within the mountains”, NEOM said Aquellum is hidden within a 450-meter-high mountain range. To access the resort, visitors will embark on the world’s first floating marina and board a specially designed vessel to enter Aquellum through a concealed underground canal, unveiling a hidden community that “offers an incredible sensory journey.”

  • Germany approves missile export to Saudi Arabia in departure from previous policy

    Government spokesperson Steffen Hebestreit on Wednesday confirmed a report by news magazine Der Spiegel that Germany’s Security Council, made up of Chancellor Olaf Scholz and several other ministers, approved the export of 150 air-to-air missiles for the Iris-T air defense system at the end of 2023. The government of then-Chancellor Angela Merkel imposed a ban on arms exports to Saudi Arabia following the killing of Saudi journalist Jamal Khashoggi at the kingdom’s consulate in Istanbul in 2018. It later made a conditional exception for systems developed jointly with other countries.

  • What are Saudi Arabia’s premium residency visas?

    Apart from long-term residency, it exempts holders from certain fees. Holders additionally enjoy visa-free travel and the right to own real estate and businesses. It also extends family sponsorship rights, allowing for the inclusion of family members under the residency. For dependents, the maximum age has been recently extended to 25. All these benefits are part of Saudi Arabia’s Vision 2030 initiative, aimed at attracting global talent and investment to diversify its economy.

  • Saudi Arabia agreed with Canada to re-exchange trade delegations

    Saudi Arabia agreed with Canada on re-exchanging trade delegations after 5 years of suspension after the two countries restored full diplomatic ties last year, the Saudi state TV said on Thursday. The Federation of Saudi Chambers of Commerce signed an agreement with the Canadian side to form a joint Saudi-Canadian business council, the TV added.