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December Economic Data Shows Slight Cooling but Non-Oil Exports Grow, Jadwa Says
- February 6,2019
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- SUSTG Team
The latest monthly economic chartbook released by Jadwa Investment found a cooling in some key economic data points, although the Saudi stock market soared by 10% in January as oil prices rose. The Riyadh-based Jadwa’s report found that POS rose by 10 percent while cash withdrawals were flat, and non-oil PMI index was marginally down […]
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Private-Sector Program ‘Direction’ in Saudi Arabia Boosts Cross-Cultural Understanding, Dialogue
- February 1,2019
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- SUSTG Team
A private-sector program in Saudi Arabia is seeking to enhance relations between the Kingdom and nations around the world through delegations of Saudi youths in order to spread “a culture of moderation and respect for others” in line with the Kingdom’s Vision 2030. The program, called “Direction,” designs, executes and manages supportive programs for Saudi and Arab […]
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‘MSCI Tadawul 30 Index’ Goes Live with 30 Biggest Saudi Equities
- January 30,2019
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- SUSTG Team
MSCI Inc. and the Saudi Stock Exchange (Tadawul) announced today the launch of the MSCI Tadawul 30 Index, a tradeable index, according to a press release. The Index is based on the MSCI Saudi Arabia IMI Index that represents the performance of large, mid and small-cap stocks of the Saudi Arabia equity market. The Index […]
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Saudi Arabia Explores Interconnected Gas Grid for Region
- January 16,2019
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- SUSTG Team
Saudi Arabia may pursue an interconnected natural gas grid in the region that would link together the Kingdom with Oman, Kuwait, and the United Arab Emirates, according to reports. “I am talking to my colleagues in Oman, Kuwait, UAE, about extending a gas grid in the region and we hope to exchange gas and we also have […]
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Reports: Potential Deal for New Saudi Investment in U.S. Energy Sector
- January 9,2019
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- SUSTG Team
Saudi Arabia is reportedly eyeing an investment in U.S. liquefied natural gas (LNG) in what would mark a “sea change in the energy flows between the U.S. and Saudi Arabia,” the Wall Street Journal reported Tuesday citing unnamed sources. The WSJ reports the “landmark decision” would mark a shift for Saudi Arabia, which in the past has been an energy […]
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Salaries in Saudi to Increase 5-6% in 2019, Women Participation to Rise 15%, Study Says
- January 7,2019
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- SUSTG Team
Salaries for mid-level to senior professionals in Saudi Arabia will rise between 5-6% on average in 2019 and women will see a 15% rise in workforce participation in 2019, a recent study by GCC-based recruitment consultancy Cooper Fitch said. The study, the Cooper Fitch Salary Guide for the Kingdom of Saudi Arabia in 2019, provides salary expectation […]
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Positive Trends Seen in Latest Saudi Economic Data; Non-Oil PMI Up
- January 2,2019
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- SUSTG Team
A recently-released report from Jadwa Investment found a positive trend in Saudi economic data for the month of November, with POS and cash withdrawals rising by 18 percent and 2 percent respectively, year-on-year, and growth in the non-oil PMI index. The monthly report from the Riyadh-based investment firm analyzes key macro and micro economic trends in […]
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King Salman Announces ‘Sweeping’ Cabinet Reshuffle Affecting Top Domestic, Foreign Policy Posts
- December 27,2018
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- SUSTG Team
King Salman announced on live TV on Thursday a major and sweeping reshuffling of top cabinet positions in Saudi Arabia, the first such change in leadership since June. The royal decree replaces Saudi Arabia’s Foreign Minister Adel Al-Jubeir with former finance minister Ibrahim Al-Assaf. Al-Assaf was detained, then released within weeks of his detention at Riyadh’s Ritz-Carlton […]
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BBC Travel Profiles Asir’s ‘Flower Men’, Natural Beauty as Kingdom Eyes Tourism Push
- December 11,2018
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- SUSTG Team
A recently published story in the BBC highlights the unique culture and natural beauty of the Asir province in Saudi Arabia, whose male inhabitants don colorful and ornate head dresses made of local flowers. The U.K.-based news service traveled to Asir province in the south of the Kingdom, one of the least traveled places in Arabia by Western […]
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OPEC, Russia Will Cut 1.2 million Barrels of Oil Production a Day; Price Jumps
- December 7,2018
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- SUSTG Team
OPEC and Russia have agreed to collectively throttle back oil production by 1.2 million barrels per day to dry up a global supply glut, according to energy reporters from the Wall Street Journal. OPEC nations would cut 800,000 barrels and the Russia-led group would handle the remainder, according to the WSJ. Oil prices on indices […]
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MUST-READS
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PM Modi meets Saudi Arabia Foreign Minister, exchanges views on regional situation
This is the first ministerial visit from Saudi Arabia to India since the outbreak of the Covid-19 pandemic. Prince Faisal bin Farhan is on a three-day visit to New Delhi.
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Five Ways 9/11 Changed the Defense Industry
Two weeks before hijacked airliners slammed into the Twin Towers, Boeing tested a prototype rocket that would become the centerpiece of a limited defensive shield against intercontinental missiles. Nine days after the attacks, the U.S. Air Force ordered its first 10 F-22 Raptors, stealth fighters designed to dominate Russia’s best warplanes. And on Oct. 26, just days after Vietnam-era B-52s began carpet-bombing al Qaeda and Taliban insurgents in Afghanistan, the Pentagon announced that Lockheed Martin would build the tri-service combat jet now known as the F-35.
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Where will climate change migrants go?
As early as 2030, cities like Cairo, Hanoi, Dhaka, Tashkent could become climate immigration hotspots. The latest report, which focuses primarily on North Africa, East Asia, and Central Asia, builds on a document from 2018 that focused on sub-Saharan Africa, Latin America, and South Asia.
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Saudi Arabia, home to 15 of the 19 September 11 hijackers, is keen to show how much has changed
Saudi Arabia says it recently revolutionized the Al-Ha'ir prison — an effort to reform inmates with music, sports and even a company run by the inmates themselves, which manufactures perfume and furniture. The prisoners in charge of the operation wore business suits during the visit by Williams and her photographer. They were filmed by other inmates, and accompanied at all times by prison officials.
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More in U.S. Say American Lives Permanently Changed by 9/11
U.S. adults are more likely now than at any prior point to say that Americans have permanently changed the way they live. The 64% saying this is up slightly from 58% at the 10th anniversary, and from percentages near 50% in the first few years after 9/11. Asked about the effect on their own lives, 28% say they have permanently changed the way they live. This is unchanged from a decade ago, but slightly higher than Gallup measured between 2002 and 2006.
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HSBC Saudi Arabia offers the first climate change focused investment fund in the kingdom
HSBC Saudi Arabia is now offering the first environmental initiative investment fund in Saudi Arabia, known as the HSBC Global Equity Climate Change Fund, offering eligible investors exposure to renewable energy, clean transport, sustainable water management and climate change adaptation. This will provide interested customers participation and direct access to investments that help reduce the impact of climate change.
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Climate Change Is Making the Middle East Literally Uninhabitable
The Middle East is warming at twice the global average and by 2050 will be 4 degrees Celsius warmer as compared with the 1.5 degree mark that scientists have prescribed to save humanity. The World Bank says extreme climatic conditions will become routine and the region could face four months of scorching sun every year.
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Analysis: Iran’s Huge Caspian Gas Find Is A Geopolitical Gamechanger
Iran last week revealed a huge new gas deposit located in the Iranian sector of the Caspian Sea. The ‘Chalous’ structure is to be developed with the intention of forming a new gas hub in northern Iran to complement the southern gas hub centred on the massive South Pars field.
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How climate change shaped evolution in the Middle East
Published in Cell, this is the first comprehensive population-scale study of Middle Eastern DNA. It used linked-read sequencing, a technique which enabled the team to reconstruct the population history of the region in unprecedented detail. As well as providing insights into ancient human history, these data will be an important resource for the study of genetic health and adaptations, such as type 2 diabetes and lactose tolerance, in Middle Eastern populations.
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Perspective: Saudi Social And Economic Change Proves To Be A Delicate Balancing Act
Prince Mohammed’s Vision 2030 reform plan promises, according to the World Bank, to protect citizens from the pain of economic change by “modernizing the social welfare system, redirecting price subsidies toward those in need, preparing and training those unable to find employment, and providing tailored care and support to the most vulnerable citizen.” In doing so, the government has sought to soften the impact of higher energy prices as well as the introduction tripling of value-added tax (VAT) and expatriate levy.
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