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Recent stories from sustg

  • 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 […]

     
  • The arms spending map of the world
     

    How much do countries spend on their militaries? This data from the Stockholm International Peace research Institute shows the world in arms spending – both in dollars over time and as a percentage of GDP.

     
  • Major Banks Expanding in Saudi Arabia
     

    “We’d be crazy to limit ourselves to a handful of bankers when we can see oil prices are going to sustain the Saudi economy for the foreseeable future,” Rory Gilbert, the head of Middle East and North Africa at London-based Barclays’s wealth management unit, said in an interview this week in Dubai. “In four or […]

     
  • A Nuclear Iran: CNN
     

    What do we really know about the Iranian nuclear threat?  Iran says it wants the right to have its peaceful nuclear program formally recognized.  But from the outside, Iran has long given the impression it has something to hide.  And fear that Iran may soon have the capability to build a nuclear weapon, has spurred […]

     
  • Saudi ‘tops in mobile users’
     

    Saudi Arabia has the highest proportion of mobile phone users in the world with 188 per cent, followed by Vietnam and Oman in the second and third places respectively, according to a recent study. The study which was conducted by the United Nations Conference on Trade and Development (UNCTAD) indicated that this percentage is by far […]

     
  • The Menu of Options in the Iranian Nuclear Talks
     

    For the first time in more than a year and a half, negotiators from Iran and the so-called P5+1 countries – the five permanent members of the United Nations Security Council, the U.S., Russia, China, France and England, plus Germany – will sit down with their Iranian counterparts this Friday in Istanbul to talk about […]

     

MUST-READS

  • Iran-backed militants threaten Saudi Arabia despite thaw in Tehran-Riyadh ties

    The Iranian-backed Iraqi militant group Kataib Hezbollah issued threats against Saudi Arabia, despite the recent détente in Tehran-Riyadh relations. After years of severed diplomatic relations, Iran and Saudi Arabia agreed to resume their diplomatic relations by signing a China-brokered renormalization deal in March 2023. Kataib Hezbollah, an Iraqi Shia group closely aligned with Iran's Islamic Revolutionary Guard Corps (IRGC), warned Saudi Arabia, which it termed the "Kingdom of Evil," of consequences for its perceived role in the Israel-Gaza conflict.

  • Green Hydrogen: Air travel could go renewable as future fuel investment skyrockets in UAE, Saudi Arabia

    With massive intent and investment, Middle Eastern countries, led by the UAE and Saudi Arabia, are in pole position to reap the benefits as green hydrogen inches closer to becoming the preferred fuel of the future. Last week, a study undertaken by Sweden’s Chalmers University of Technology, said that almost all air travel within a 1200-kilometre radius could be made with hydrogen-powered aircraft by 2045. The Chalmers project is also working on a heat exchanger, which will enhance this range even further.

  • Saudi wealth fund picks JPMorgan, Morgan Stanley for Nupco IPO

    SAUDI Arabia’s sovereign wealth fund has picked banks for the planned initial public offering of the kingdom’s largest medical procurement firm, as it hunts for cash to finance the crown prince’s ambitious economic agenda. JPMorgan Chase, Morgan Stanley and SNB Capital have been hired to work on Nupco’s IPO, according to people familiar with the matter. The deal could come as soon as this year, the people said, asking not to be identified as the information is not public.

  • Food and beverage sector dominates Saudi POS spending

    According to a report by the Saudi Central Bank, restaurants and cafes in the Kingdom have spearheaded a notable increase in point-of-sale (POS) transactions from June 30 to July 06. The food and beverage sector held the largest share of POS spending, with an 8.8 percent increase to SR2.05 billion, up from SR1.88 billion the previous week. This was followed by the restaurant and cafe sector, which saw a 9 percent rise in spending, reaching SR1.96 billion. This highlighted a resilient economic recovery.

  • Saudi Arabia to host inaugural Olympics Esports Games in 2025, says IOC

    The decision will be ratified at the IOC Session to be held on the eve of the Olympic Games in Paris, after which work will begin on selecting a host city for the inaugural edition. “We are very fortunate to be able to work with the Saudi NOC on the Olympic Esports Games, because it has great – if not unique – expertise in the field of esports with all its stakeholders,” IOC president Thomas Bach said in a statement.

  • Saudi Pro League to focus on younger signings, homegrown talent

    The Saudi Pro League is encouraging its clubs to foster homegrown talent and switch focus to wooing promising young internationals after making headlines for big name signings for huge money, a document outlining plans for the new season said. The league signed 97 foreign players last season and boasts 39-year-old global soccer superstar Cristiano Ronaldo and 32-year-old Brazil forward Neymar among other household names.

  • Saudi Prince’s Trillion-Dollar Makeover Faces Funding Cutbacks

    A government committee led by the de facto Saudi ruler, Crown Prince Mohammed Bin Salman, is close to completing a sweeping review of mega projects including the sprawling desert development known as Neom, people familiar with the matter said, asking not to be identified as the information is private.

  • Why Saudi Tourism’s Future Depends on Strong Private Sector Partnerships

    While Saudi’s tourism industry is currently keeping pace, it requires significant efforts to reach these future goals. Many of its new destinations are still developing their travel infrastructure or catering to niche markets. The country also faces the challenge of integrating these emerging markets into its existing tourism framework and effectively marketing them to attract the right visitors.

  • Saudi-Chinese partnership wins $2bn Diriyah deal

    Work will begin on a new mixed district at the Saudi giga-project Diriyah in the third quarter of 2024 after a SAR7.8 billion ($2 billion) construction contract, the largest yet, was awarded to a Chinese-Saudi partnership. Saudi contractor El Seif Engineering and China State Construction Engineering will build the district, which will contain educational institutions, cultural venues, offices and a luxury hotel in the northern part of Diriyah, the official Saudi Press Agency said. “This represents a major step in our accelerating development strategy and commitment to making Diriyah one of the most important and prominent tourist, humanitarian, and cultural destinations in the world,” Diriyah’s CEO, Jerry Inzerillo, said.

  • Saudia plane catches fire during landing at Peshawar airport; all passengers safe

    A Saudi Arabian Airlines aircraft caught fire while landing at Bacha Khan International Airport in Peshawar, Pakistan, on Thursday. Flight SV-792 was en route from Riyadh with 297 people on board. Saudi Arabian Airlines issued a statement confirming that all passengers were safely evacuated via inflatable emergency slides with no injuries reported. The aircraft is currently undergoing technical evaluation by specialists.