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Iraq’s Clashes Sends Oil Higher Before Retreat
- August 30,2022
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- SUSTG Team
Oil surged to the biggest gain in six weeks before paring some of those gains after Iraq’s state marketing company said exports haven’t been affected by violent clashes in Baghdad, according to Bloomberg.
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Monsha’at Report — Number of SMEs in Saudi Arabia Grows 25.6% in 1H 2022
- August 29,2022
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- SUSTG Team
Saudi Arabia’s General Authority for Small and Medium Enterprises (Monsha’at) said the number of registered SMEs in Saudi Arabia hit 892,063 in the first half of this year, registering a 25.6 percent increase from the fourth quarter of 2021.
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Global migration trends, big cat conservation in Saudi Arabia, the new Saudi companies law and more!
- August 26,2022
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- SUSTG Team
Episode 59! The hosts talk about a newly-released and interesting UN report on global migration trends, big cat and other endangered species conservation in Saudi Arabia, and much more in the program’s finishing Yallah! segment. Programming note: The 966 will return next week with a featured interview, then be back in full swing as September […]
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Saudi Arabia’s Non-Oil Exports Surge by 31% in Q2 to $23 Billion
- August 25,2022
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- SUSTG Team
Saudi Arabia’s non-oil exports surged by 31 percent in the second quarter to SR86.2 billion ($22.9 billion) from SR65.8 billion in the same period last year, the General Authority for Statistics, also known as GASTAT, said in a report.
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Saudi Arabia’s Energy Minister Says Paper and Physical Oil Markets ‘Have Become Increasingly More Disconnected’
- August 23,2022
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- SUSTG Team
Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said “extreme” volatility and lack of liquidity mean the futures market is increasingly disconnected from fundamentals, and as a result, OPEC+ may be forced to cut production to balance the market, Bloomberg reports.
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C3 US-Arab Healthcare and Business Summit Set for September 19th, 2022 at Union League Club in New York City
- August 22,2022
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- SUSTG Team
The C3 US-Arab Healthcare and Business Summit, a leading conference in the sector now in its 11th Annual edition, is set to take place September 19th, 2022 at the Union League Club in New York City.
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PIF Returns to Buy-Low Playbook with 2Q Stock Market Buying Spree
- August 18,2022
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) bought shares in Alphabet, Zoom Video, and Microsoft this week as part of a wider pick of U.S. stocks, bringing the market value of the sovereign wealth fund’s investment portfolio to about $40.8 billion at the end of the second quarter, Reuters reports.
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IMF: Saudi Economy Likely to be One of the Fastest Growing in the World in 2022
- August 17,2022
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- SUSTG Team
The International Monetary Fund (IMF) on Wednesday maintained its economic growth forecast for Saudi Arabia at 7.6% this year, bucking the global trend toward recession and likely placing it among the top growing economies in the world in 2022.
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Report: Israeli Energy Companies Create JV for Saudi, Gulf Push
- August 16,2022
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- SUSTG Team
Israeli companies Enlight Renewable Energy Ltd. and natural gas producer NewMed Energy LP plan to jointly develop renewable energy projects in North Africa and the Middle East, including in Saudi Arabia and Oman, Bloomberg reports.
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Saudi Central Bank Study: Digital Payments Exceed Cash for First Time in Saudi Arabia
- August 15,2022
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- SUSTG Team
Electronic payments exceeded the use of cash for the first time in Saudi Arabia in 2021, a study conducted by Saudi Arabia’s Central Bank found.
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MUST-READS
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Saudi Arabia Opens Airspace to Israeli Flights for First Time
Saudi Arabia announced Wednesday that it would allow any flights going to and from the United Arab Emirates to fly over its territory, a move that would give Israel access to some of the kingdom’s airspace for the first time. The announcement, made at the request of the United Arab Emirates, came days after the first direct flight from Israel to the emirates — a symbolic move as the two nations begin normalizing relations.
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Saudi-Led Coalition Destroys Explosive-Laden Drone, Boat Launched by Yemen’s Houthis: SPA
The Saudi-led coalition fighting in Yemen intercepted and destroyed an explosive-laden drone at Saudi Arabia's Abha international airport and a remotely controlled explosive-laden boat in the south of the Red Sea both launched by Iran-aligned Houthis on Sunday, Saudi state news agency (SPA) reported. As a result of intercepting the drone, some splinters fell on the airport, causing no injuries or damage, coalition spokesman Colonel Turki al-Malki said, according to SPA.
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Mars ahead! UAE’s Hope spacecraft spots Red Planet for 1st time
The UAE's Hope probe launched from Japan toward Mars on July 19, representing the first time an Arab nation has gone beyond Earth's orbit. Now, the spacecraft is already one fifth of the way through its long journey, according to a statement from the program.
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Saudi’s SPARK, Kuwait’s NAPESCO to invest $100m for oil and gas facility
In a move to support the oil and gas upstream sector in the Kingdom, Saudi Arabia’s King Salman Energy Park (SPARK) and Kuwait’s National Petroleum Services Company (NAPESCO) — a private company offering pumping services to the energy secto — are planning to invest $100m (SAR375m) to develop an equipment facility. In a statement on its official Twitter account, SPARK said that the facility will manufacture downhole tools, gyroscope, in addition to several oilfield equipment.
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Juan Carlos: Spain’s former king confirmed to be in UAE
Spain's former king Juan Carlos has been living in the United Arab Emirates (UAE) since 3 August, the Spanish royal palace has confirmed, putting an end to speculation over his whereabouts.
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Saudi’s commercial arbitration centre opens branch at SPARK
The Saudi Center for Commercial Arbitration (SCCA) has opened its new branch at King Salman Energy Park (SPARK), located in Al Khobar, as part of its strategic plan to expand and support its client base.
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Saudi-led coalition downs ballistic missile aimed at kingdom: SPA
The Saudi-led coalition fighting the Houthi movement in Yemen said on Sunday in a statement carried by state news agency SPA that it had intercepted and downed a ballistic missile launched towards civilian targets in southern Saudi Arabia.
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UAE Taps Space Diplomacy for Earthly Benefits
The global space industry is currently valued at about US$350 billion and expected to inch towards US$1 trillion by 2040, with private sector involvement. Further, with a market value of US$30 billion, about 6,000 small satellites may be launched globally by 2030. To tap this investment, research and collaboration potential, the UAE passed a federal law on regulation of the space sector in 2018.
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The Saudi Power-Broker of Spanish Soccer’s Second Division
When it wasn’t raffling off German hatchbacks, Almeria was climbing the standings of Spain’s second division to the brink of moving up to La Liga. This month, it secured a place in Spanish soccer’s promotion playoffs. But the real mystery isn’t how it reached those heights. It’s why a member of Saudi’s royal court would take an interest in a small, underfunded club on the south coast of Spain in the first place. “The Minister is a man of football,” is El Assy’s short answer. That much is clear from Sheikh’s online presence, where his millions of followers are led to believe he’s one of the best connected people in the sport.
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Saudi crown prince, Trump discuss king’s health – SPA says
Saudi Arabia’s Crown Prince Mohammed bin Salman received a phone call on Thursday from U.S. President Donald Trump regarding the health of the Saudi king, state news agency SPA reported. The two also discussed regional and international developments, SPA said.
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