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Recent stories from sustg
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Report: Kingdom Owns a Majority Stake in Tesla Rival Lucid Motors
- June 26,2020
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- SUSTG Team
Saudi Arabia has amassed a more than 50% stake in California EV startup and Tesla rival Lucid Motors, according to a report in The Verge.
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Aerial View of Jeddah Port Stars in NASA Earth Observatory’s Image of the Day
- June 24,2020
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- SUSTG Team
The NASA Earth Observatory made its image of the day a stunning aerial photo of Jeddah, Saudi Arabia’s port from directly above.
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New York-based Wahed Invest, an Online Halal Investment Platform, Secures Funding from Saudi Aramco
- June 8,2020
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- SUSTG Team
New York-based online Islamic investment platform Wahed Invest has secured backing from Saudi Aramco, the world’s biggest company, to expand into the Middle East and make Riyadh its hub for the region, according to Bloomberg.
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Analysis: With Saudi Arabia’s PIF Investment in Two Canadian Energy Companies, Strategic Investment Shift Continues
- June 3,2020
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) invested in two Canadian energy companies in the first quarter of 2020, expanding its holdings in the sector likely at lower-than-usual valuations as oil prices hit cyclical lows this year.
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WTI, Brent set for biggest monthly gains in years
- May 29,2020
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- SUSTG Team
Despite a fall today, crude oil prices are set for their biggest monthly gain in years after historic production cuts and a rebound in demand. The U.S. crude benchmark (WTI) has jumped almost 80 per cent in May, Bloomberg reports, the biggest gain in exchange data compiled by Bloomberg going back to 1983. That comes after […]
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U.S., Saudi Forces Conduct Joint Military Exercises on Saudi Islands
- May 27,2020
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- SUSTG Team
Forces from the United States and Saudi Arabia are conducting “routine and joint sustainment training” on and around Karan and Kurayn islands, Kingdom of Saudi Arabia this week, according to a statement from the U.S. Naval Forces Central Command.
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Kingdom’s National Development Fund Plans Near-Doubling of Funds to Saudi Businesses in 2020
- May 22,2020
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- SUSTG Team
Saudi Arabia’s National Development Fund (NDF) plans to provide an extra $5.9bn to Saudi businesses on top of the $6.8 it usually disperses annually, according to reports, as the Kingdom looks to weather the economic headwinds created by the global Coronavirus pandemic and lower oil prices.
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Ramadan Kareem from the SUSTG Team
- April 23,2020
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- SUSTG Team
The SUSTG team expresses our warmest wishes on the occasion of the holy month of Ramadan.
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COVID-19-Induced Oil ‘Demand Destruction’: Jadwa Sees Saudi Crude Production at 9.4 mbpd Average in 2020
- April 20,2020
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- SUSTG Team
With a bleak outlook for oil demand growth in 2020 by OPEC, and recent pledged cuts agreed to by the so-called OPEC+ group of producers last week, Saudi Arabia is set to produce about 2 million barrels per day less on average compared to previous forecasts, Jadwa Investment writes in a new quarterly oil market […]
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Oil Continues Steep Decline; U.S. Crude Reaches 17-Year Low
- March 18,2020
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- SUSTG Team
Oil prices fell for a third session on Wednesday on indices around the world, and U.S. crude futures tumbled to a 17-year low “as the outlook for fuel demand darkened with travel and social lockdowns triggered by the coronavirus epidemic,” according to Reuters.
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MUST-READS
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China’s Top Priority In Afghanistan Is Stability, Experts Say
“The main concern is that whatever problems there are in Afghanistan stay in Afghanistan,” said Andrew Small, a senior transatlantic fellow in the German Marshall Fund’s Asia program. “They want the Taliban to establish a government that at least jumps through enough hoops that it can reach diplomatic legitimacy….They don’t want a pariah state on its border again.”
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Saudi league aiming to replace China as Asia’s top drawcard
“It was an honor to play for a big club like Guangzhou in China but I'm very happy to be in Saudi Arabia,” Talisca said after joining Al-Nassr. “There are a lot of great players coming here and the league has a lot of potential to grow. It's an exciting time to be here.”
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US warns Middle East allies not to give China a military base
“There are certain categories of cooperation with the PRC that we cannot live with,” the State Department’s Mira Resnick, a deputy assistant secretary in the bureau of political-military affairs, told a Senate Foreign Relations subcommittee. “And we have made that clear.”
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China Meets With Taliban, Stepping Up as U.S. Exits Afghanistan
At the session with Taliban co-founder and political office chief Mullah Abdul Ghani Baradar in the northeastern Chinese city of Tianjin on Wednesday, Foreign Minister Wang Yi called the Taliban a pivotal military and political force in Afghanistan that is expected to play an important role in reconstructing the country, according to China’s Foreign Ministry.
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UAE to Burn Mountains of Trash as China Stops Importing Waste
The United Arab Emirates is building one of the world’s largest waste-to-energy plants to deal with its growing trash load. Dubai is constructing a $1.1 billion facility that will burn garbage to generate power. A smaller plant -- the UAE’s first on a commercial scale -- will start operating this year in the emirate of Sharjah. Once two other projects in Abu Dhabi are finished, the country may incinerate almost two-thirds of the household waste it currently produces.
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China’s low-carbon energy transition goals rely on big coal mines
China wants to cut carbon emissions, and has set itself the ambitious goal of being carbon neutral by 2060. To get anywhere close to achieving that task, it will have to sharply curtail its coal consumption, which for decades has made up the bulk of its energy mix.
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U.S. Weighs New Sanctions on Iran’s Oil Sales to China if Nuclear Talks Fail
U.S. negotiators have been working with European and other international partners in Vienna since April to revive the 2015 deal that limits Iran’s nuclear program in exchange for an easing of broad sanctions. As those talks falter, the U.S. is running through options intended to induce Iran to keep negotiating or punish it if it doesn’t, according to U.S. officials and people familiar with the matter.
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Opinion: How the Afghanistan Withdrawal Costs the U.S. With China
Yet as details of the Biden administration’s post-withdrawal strategy for Afghanistan emerge, its benefits for American competitiveness against Beijing look nebulous. In fact, the U.S. departure from Kabul could end up undermining, rather than strengthening, America’s strategic hand against China.
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China’s Saudi oil imports plunge 21%
Imports from second-largest supplier Russia also dropped from a month earlier, to 5.44 million tonnes, or 1.28 million bpd. The scale-backs by the top two exporters were in line with a steep annual decline of nearly 15% to this year's lowest total crude imports into China. Imports from United Arab Emirates arrivals fell 25% last month from year-ago levels.
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Apple’s new encrypted browsing feature won’t be available in China, Saudi Arabia and more: report
It’s unclear whether Private Relay will simply be excluded from system upgrades for users in China and the other countries where it’s restricted, or it will be blocked by internet providers in those regions. It also remains to be seen whether the feature will be available to Apple users in Hong Kong, which has seen an increase in online censorship in the past year.
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