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Oil Continues Fall to $76 on Brent as Aramco Cuts Prices for Asia and Europe
- January 5,2023
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- SUSTG Team
Saudi Arabia cut oil prices for its main market of Asia and for Europe, “signaling that demand remains sluggish as economies slow and coronavirus cases in China surge,” according to Bloomberg.
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Hyundai Motor Joins EV Car Race in Saudi Arabia with Planned Factory; Signs MOU with Saudi Ministry of Industry and Mineral Resources
- January 3,2023
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- SUSTG Team
South Korea’s Hyundai Motors has joined the race to build EV cars in Saudi Arabia, signing a memorandum of understanding with Saudi Arabia’s Ministry of Industry and Mineral Resources to build a factory for the complete assembly of electric cars in the Kingdom, the Saudi Press Agency (SPA) reported.
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Green Riyadh Project Launches as Authorities Eye Ambitious ‘Giga’ Tree-Planting Initiatives
- December 29,2022
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- SUSTG Team
Authorities in Saudi Arabia’s capital Riyadh launched the Green Riyadh project, one of four giga-projects for the city and region: an ambitious tree-planting strategy to “greenify” many parts of the Kingdom’s largest city, according to a report from the Saudi Gazette.
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Saudi Arabia, Japan Eye Increased Trade and Cooperation at Riyadh Investment Forum
- December 28,2022
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- SUSTG Team
Saudi Arabia and Japan signed several new agreements and understandings at a Saudi-Japan investment forum to boost trade and relations between the two nations, according to reports.
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Saudi Arabia’s Mineral Wealth Exceeds $1.3 Trillion, Ministry Says
- December 22,2022
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- SUSTG Team
Saudi Arabia’s Ministry of Industry and Mineral Resources has announced that the Kingdom’s mineral wealth is now valued in excess of $1.3 trillion, including deposits of copper, zinc, phosphates, uranium and gold, the Saudi Press Agency has reported.
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Germany Sets Sights on Importing Saudi Ammonia to Make Hydrogen by 2026
- December 20,2022
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- SUSTG Team
European economic powerhouse Germany has said it hopes to import green ammonia from Saudi Arabia at a terminal to be opened in 2026, according to a report in the UAE-based The National.
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NEOM’s Green Hydrogen Facility, Set to Be World’s Largest, Gets Financing Agreements with Banks, SIDF
- December 19,2022
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- SUSTG Team
NEOM’s Green Hydrogen Company (NGHC), an equal joint venture created by ACWA Power, Air Products, and NEOM which will create the world’s largest green hydrogen plant, has inked facility agreements with local, regional, and international banks and Saudi Arabia’s SIDF to finance the construction of the plant, according to reports.
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New Draft Rules from Saudi Arabia’s CMA Set to Further Open Stock Market to Investors
- December 15,2022
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- SUSTG Team
Saudi Arabia plans to further open up its capital market to foreign investors by September 2023, with its capital market regulator, the Capital Markets Authority (CMA), proposing several changes to simplify requirements for qualified foreign investors (QFIs) and adding new channels for overseas retail investors in the country’s bourses, according to reports.
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Saudi Arabia’s PIF Buys 9.5 Percent Stake in German Renewables firm Skyborn
- December 12,2022
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- SUSTG Team
Saudi Arabia’s Public Investment Fund has acquired a 9.5 percent stake in German renewable firm Skyborn Renewables, as the growing sovereign wealth fund of the Kingdom continues to expand with international investments.
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Adding to Growing List of Natural Treasures, ‘Desert Fish’ Rock Formation Discovered in Al-Ula
- December 7,2022
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- SUSTG Team
The recent discovery of a giant fish-shaped rock emerging from the sands of the Saudi desert near Al-Ula adds to a growing collection of natural wonders in Saudi Arabia.
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MUST-READS
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Migrant crossings to Spain’s Ceuta slow, but row with Morocco deepens
The influx has hiked existing tensions between Spain and Morocco, with Prime Minister Pedro Sanchez on Wednesday accusing Rabat of “disrespect” over the crisis. The spat comes with Spain and Morocco at loggerheads over Madrid’s decision to provide medical treatment for the ailing leader of the Western Sahara independence movement who has Covid-19.
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Saudi Arabian remake of inspiring Spanish film ‘Campeones’ to be released in September
An Arabic-language adaptation of Campeones, a 2018 Spanish comedy-drama film, is scheduled to hit cinemas later this year. Its Oscar-winning producer Andres Vicente Gomez hopes the 90-minute Saudi remake, called Champions, will impact Arab audiences and transform the lives of people with physical disabilities.
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The Saudi Arabian Pavilion at the 2021 Venice Biennale Explores Spatial and Social Encounters in the Saudi Residences
Titled "Accommodations", the Saudi Arabian Pavilion at the 17th International Architecture Exhibition – La Biennale di Venezia, will analyze the spatial and social encounters of hosting and housing in Saudi Arabia, where histories, protocols, and gestures are intertwined. Curated by Hussam Dakkak, Basmah Kaki, and Hessa AlBader, alongside Brooklyn-based curators Uzma Z. Rizvi and Murtaza Vali, the exhibition will be on display from May 22nd to November 21st, 2021.
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Clubhouse App Creates Space for Open Talk in Middle East
While the app is currently limited to iPhone users, who make up a small and affluent subset of the Middle East, Clubhouse may draw more government scrutiny once it releases an Android version, which is expected as early as this month. In Iran, a bootleg Android version is already gaining steam.
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Iranian Foreign Minister’s Leaked Comments Spark Political Frenzy
The IRGC's role in Iranian foreign policy, mainly in the region, and its opposition to improved ties with the West are no secret. Neither is it a surprise that Iran's postrevolutionary system heaps power in the hands of an unelected supreme leader and other hard-line institutions. But Zarif's blunt insights into the power that the IRGC wields and his obvious frustrations with the revolutionary guards and with ally Russia, which according to Zarif opposes any Iranian thaw with the West, came as a surprise to many.
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Foreign vehicles exceeding lifespan barred from entering Saudi Arabia
The PTA said that the implementation of the conditions on foreign vehicles will be as follows: taxis 5 years, buses 10 years, and trucks 20 years from the manufacturing date. The vehicle’s life expectancy will be calculated from the beginning of the year it was manufactured
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Red Sea Development Company Comments on NASA’s Photo of Islands from Space
One of the astronauts of the special crew of “Expedition 64” from the International Space Station of the US National Aeronautics and Space Administration (NASA) took several pictures of hundreds of islands located on the northwestern coast of Saudi Arabia. These included 90 islands that belong to the Red Sea Project, which is tipped as the Future of the Global Tourism Destinations.
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Saudi Arabia energy minister and U.S. counterpart agree to enforce cooperation in the energy field – SPA
Saudi Arabia’s energy minister Prince Abdulaziz bin Salman and the U.S. counterpart Jennifer Granholm spoke on phone on Thursday and agreed to work closely to enforce cooperation in the energy field, the Saudi state news agency reported.
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Column: India and Saudi Arabia spar over oil prices
Tensions this month between India and Saudi Arabia over rising oil prices have underscored the growing importance of the bilateral relationship and its potential to generate conflict as well as cooperation.
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Saudi Arabia closes March domestic issuance of sukuk program at 7.674 bln riyals -SPA
Saudi Arabia’s National Debt Management Center closed on Tuesday its local issuance for March, 2021 of the kingdom’s sukuk, or Islamic bonds, program at a total of 7.674 billion riyals ($2.05 billion), Saudi state news agency (SPA) said.
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