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Saudi Crown Prince Mohammed bin Salman will Visit Washington, Other U.S. Cities in Early March
- February 2,2018
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- SUSTG Team
The Royal Embassy of Saudi Arabia in Washington is working to organize a visit by crown prince Mohammed bin Salman to the United States in early March, the first trip to the U.S. since he became crown prince last year, according to reports. Rumors of a forthcoming visit by the powerful crown prince have surfaced in […]
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Saudi Arabia Releases Prince Alwaleed bin Talal and Three Other Prominent Detainees
- January 29,2018
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- SUSTG Team
Just hours after a Reuters interview with reporter Katie Paul, Prince Alwaleed bin Talal was released from his cushy confines in the Ritz Carlton, Riyadh, where he and other prominent businessmen and royals have been detained in a crackdown on corruption in Saudi Arabia that started in November. Prince Alwaleed gave a tour of his large […]
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Saudi Aramco CEO Says Company Eying U.S. Expansion
- January 26,2018
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- SUSTG Team
Saudi Aramco’s CEO Amin Nasser said the company was eying expansion in the United States “where President Donald Trump’s tax cuts and support for the oil industry are making business increasingly attractive,” Reuters reports. Nasser also lauded the Trump administration as being friendly toward the oil industry. “The Trump administration has been positive towards the energy […]
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Saudi Arabia Announces 9 New Desalination Plants in 18 Months
- January 22,2018
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- SUSTG Team
Saudi Arabia said it would build 9 new desalination plants in the next 18 months on the Red Sea coast, according to an announcement by the Saudi Minister of Environment, Water and Agriculture, Eng. Abdulrahman al-Fadhli. The new plants will cost SAR 2 billion ($533 million). The minister said the plants would be built “using modern techniques” […]
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Saudi Arabia’s King Salman Orders $2b ‘Deposit’ to Yemen to Shore Up Currency
- January 18,2018
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- SUSTG Team
Saudi Arabia’s King Salman ordered a $2 billion transfer to the Yemeni central bank, according to reports, as the Kingdom looks to shore up the economy of its war-torn southern neighbor. The Saudi Ministry of Culture and Information (MoCI) said in a statement that the money is meant “to address the deteriorating economic situation” in Yemen. “All […]
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Bloomberg News, MiSK Launch Course in Dubai to Train Aspiring Saudi Journalists
- January 16,2018
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- SUSTG Team
Bloomberg news and Saudi Arabia’s MiSK Foundation have teamed up to launch a course on financial reporting to train aspiring Saudi journalists, according to a report in Arab News. The intensive week-long course is taught at the Bloomberg Middle East headquarters in Dubai. 30 Saudi undergraduates, including 22 women and eight men, were chosen by MiSK […]
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Ritz Carlton Riyadh May Re-Open in February as Prince Alwaleed bin Talal Reportedly Negotiating for Release
- January 15,2018
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- SUSTG Team
The palatial Ritz-Carlton in Riyadh may re-open in mid-February 2018 after it served as a makeshift detainment center for Saudi elites accused of corruption charges. The hotel has re-opened its online reservation system, accepting new guests as soon as February 14th. Reservations attempted before that date re-direct to a notification that no rooms are available at […]
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Ride-Sharing Apps in Saudi Arabia Begin Recruiting Women as Drivers
- January 11,2018
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- SUSTG Team
Ride sharing apps Uber and Careem have reportedly begun recruiting female drivers following the landmark royal decree permitting women the right to drive in Saudi Arabia, CNN reports. Careem has launched a series of 90-minute-long training sessions in Saudi, targeting Saudi women who have already obtained valid driving licenses from abroad. Those sessions are “taught by […]
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Saudi Aramco, Partners Launch Offshore Focused Shipyard at Ras Al-Khair Industrial City
- January 3,2018
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- SUSTG Team
Saudi Aramco and partners announced a joint venture to build a shipyard on the kingdom’s east coast, part of the Saudi Arabian government’s drive to diversify the economy beyond oil. Along with UAE-based Lamprell, the National Shipping Company of Saudi Arabia (Bahri), and South Korea-based Hyundai Heavy Industries, Saudi Aramco says the shipyard will be focused on […]
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Two Top Officials in Crackdown Sweep Return to Public Eye
- January 2,2018
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- SUSTG Team
Two top officials detained in last year’s crackdown on corruption in Saudi Arabia have returned to the public eye following settlement payments, according to reports. Prince Miteb bin Abdullah, former head of the Saudi national guard and son of the late King Abdullah, was photographed alongside Crown Prince Mohammed bin Salman at a horse race […]
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MUST-READS
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Israeli Tech and the GulfHow Do Israel’s Tech Firms Do Business in Saudi Arabia? Very Quietly
Trade and collaboration in technology and intelligence are flourishing between Israel and a host of Arab states, even if the people and companies involved rarely talk about it publicly.
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Donald Trump PresidencyTrump’s first arms sales, holdovers from the Obama era, are business as usual
The State Department announced the first arms sales of the Trump administration Monday, saying it approved sending various munitions and equipment to four countries, including Saudi Arabia. Approval of the transfers has to be finalized by Congress. The $1.85 billion in sales is a fraction of the $40 billion in transfers the Obama administration agreed to as recently as 2015, but the decision signals continuity in foreign arms sales under President Trump.
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Donald Trump PresidencyDonald Trump’s international business ventures face increased global terror risk, security experts warn
Businesses around the world bearing US President Donald Trump's name face an increased risk now that he is in the White House, security experts warn, especially as several are in areas previously targeted by violence.
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IranThere’s a battle in Iran over the Islamic Revolutionary Guards Corps business empire
Rouhani’s efforts to rein in the IRGC economically have intensified since Iran and the P5+1 signed and adopted the Joint Comprehensive Plan of Action (JCPOA) in 2015
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Award for Corporate ExcellenceGE’s all-female business center in Saudi Arabia
The staff of 1,000 handles finance and accounting, human resources, supply chain and information technology management and more for dozens of companies, not just GE.
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Non-Oil BusinessSaudi Arabia Tries To Kick Oil Addiction; Non-Oil Business Spikes
News has broken that Saudi Arabia’s non-oil private sector activity increased in November. The uptick comes after back-to-back slowdowns in September and October.
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Saudi FootballWill Kuwaiti business woman own prominent Saudi football club?
Kuwaiti business woman and honorary member of al-Nasr Football Club, Khawla al-Hassawi, has announced she is seeking to buy shares in the club after the cabinet’s decision to privatize clubs in Saudi Arabia. The cabinet’s decision will turn professional football league clubs into companies.
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Gulf Ruling FamiliesRuling Families and Business Elites in the Gulf Monarchies: Ever Closer?
All the ruling families – from a variety of starting points – have themselves moved much more extensively into business activities over the past two decades.
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White Collar CrimeBusinessman held over $26.6 mln illegal transaction in Saudi Arabia
Police have arrested a Saudi businessman and two of his Asian workers for allegedly conducting illegal transaction of SR100 million and accused them of money laundering, a Saudi Gazette report has revealed. The Bureau of Investigation and Public Prosecution probed the three after receiving a bank message that huge amounts have been deposited in the account of the businessman’s establishment by companies and individuals in and outside the Kingdom.
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GCC Business CycleEconomics 101: Interpreting the GCC business cycle
The GCC economic cycle has the added feature that the long-run trend is driven by oil prices, because oil prices are so central to economic activity. This makes the long-run trend very volatile, owing to the volatility of oil prices, whereas in a standard economy, the long-run trend is quite stable.
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