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OPEC+ Set to Revise Down ‘Optimistic’ Oil Demand Outlook; Oil Rallies to $73
- September 10,2021
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- SUSTG Team
Two OPEC+ sources told Reuters that OPEC will likely revise down its 2022 oil demand growth forecast on Monday, as the specter of a persistent Delta variant of the coronavirus drags optimism about the global economic recovery.
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Saudi Arabia Re-Allows Entry From and Travel to UAE, Argentina and South Africa – SPA
- September 8,2021
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- SUSTG Team
Saudi Arabia removed the United Arab Emirates, Argentina and South Africa from its entry banned country list and re-allowed citizens to travel to the three countries starting Sept. 8, Reuters reports, citing state media. The decision comes just weeks before Dubai is set to host the Dubai Expo 2020 trade fair.
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Saudi Arabia Ranks 2nd in G20 in Digital Competitiveness — Report
- September 6,2021
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- SUSTG Team
Saudi Arabia has been ranked second among the G20 countries in the Digital Competitiveness Report for the year 2021, a publication issued by the European Center for Digital Competitiveness, according to a report. The reports findings are based on data provided by the Global Competitiveness Index issued by the World Economic Forum, and supporting data […]
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Saudi Arabia Emphasizes ‘A New National Mind-Set’ for $1 Trillion in Mining Opportunities
- September 3,2021
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- SUSTG Team
Saudi Arabia is re-energizing its efforts to attract foreign investment into local mining and minerals opportunities, with the Kingdom’s Vice-Minister of Mining Affairs declaring that Saudi has a “a new national mind-set” on the sector.
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Jadwa Chartbook for September 2021: PMI Indicates Continued Expansion for Saudi Economy
- September 2,2021
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- SUSTG Team
Jadwa Investment’s recently-released Chartbook for the month of September shows a Saudi economy awaking from the pandemic year with solid figures in non-oil PMI, consumer spending, and POS transactions.
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Bloomberg Report: Saudi Arabia Continues to Combat Pandemic with ‘World’s Toughest Rules’
- September 1,2021
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- SUSTG Team
Since the start of the global pandemic last year, Saudi Arabia’s authorities and leadership have implemented progressive policies to help the Kingdom mitigate the spread of the Coronavirus within its borders. From imposing strict fines for individuals and businesses who flaunt rules on mask mandates and distancing requirements to shutting down international travel, and even all but cancelling […]
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8 Reportedly Injured in Houthi Terrorist Drone Attack at Abha International Airport
- August 31,2021
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- SUSTG Team
At least eight people were wounded on Monday in Houthi terrorist drone strikes on Saudi Arabia’s Abha International Airport, Reuters reports, citing local sources and news outlets. The terrorist attack also also damaged a civilian airplane, Saudi state TV reported.
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Saudi Arabia’s Technology Ministry Announces ‘LaunchKSA’ to Power Digital Innovation with $1 Billion Backing
- August 27,2021
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- SUSTG Team
Saudi Arabia’s Ministry of Communications and Information Technology (MCIT) announced the launch of LaunchKSA, which promises to enhance innovation, augment digital know-how, support youth, and transform Saudi Arabia into the region’s largest digital economy.
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Saudi Economy: Jadwa Investment Revises 2021 GDP Forecast Upward as Activity Rises
- August 26,2021
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- SUSTG Team
With both oil and non-oil economic activity in Saudi Arabia growing as the Kingdom’s economy bounces back from the pandemic, Riyadh-based Jadwa Investment said in a research note that it will upgrade Saudi Arabia’s 2021 forecasted GDP.
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Saudi Arabia Sees a Boom in the Kingdom’s Freelancer Workforce
- August 23,2021
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- SUSTG Team
The number of freelance workers in Saudi Arabia is growing quickly as the Kingdom’s economy continues to recover from the pandemic, according to fresh data from the Ministry of Human Resources and Social Development.
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MUST-READS
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Arab Space ProgramsThe Arabs hoping to explore space
On a recent visit to the United Arab Emirates, Virgin boss Sir Richard Branson reaffirmed plans to build a space port in Abu Dhabi within two years. It is just the latest development in a fledgling local space industry that sees big profits in extraterrestrial exploration.
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Trump Saudi VisitMajor Oil, Aerospace Deals Expected During Trump’s Visit To Saudi Arabia
President Trump's visit to Saudi Arabia will be a busy one for the oil sector as General Electric (GE), Schlumberger (SLB), Baker Hughes (BHI) and Halliburton (HAL) are expected to announce deals with Saudi Arabia's state run oil company, according to a Bloomberg report.
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Fiscal PolicySaudi Arabia’s fiscal map becoming more transparent
It is precisely this kind of uncertainty and volatility that Saudi Arabia wants to avoid and push toward diversifying its non-oil revenue options. On the revenue side, Saudi Arabia is on the path toward greater options.
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ShootingSaudi forces kill wanted man at Shi’ite district- newspaper
Saudi security forces shot dead a wanted man in eastern Saudi Arabia on Wednesday, a local newspaper reported, after gunmen tried to stop redevelopment work at the old quarter of Awamiya, where authorities say Shi'ite militants are hiding.
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IranPresidential hopefuls spar over economy as Trump turns screws on Iran
Staged or not, the slogans echoed the battle-cries of the broader election campaign, where Rouhani's rivals have focused on his handling of an economy threatened by high unemployment, low oil prices, slow growth outside the crude sector and a new, unpredictable foe in U.S. President Donald Trump.
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EntrepreneurshipSaudi scientist sees new generation of professionals sparking change
Hayat is the first Saudi and female scientist to become a UNESCO Goodwill Ambassador for sciences, which is in recognition of her work to create an ecosystem of entrepreneurship and social innovation for scientists, technologists and engineers in the Middle East.
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Saudi-IranPowerful Saudi prince says no space for dialogue with Iran
Saudi Arabia’s deputy crown prince said Tuesday in a rare and wide-ranging interview that there is no space for dialogue with rival Iran due to its Shiite ambitions “to control the Islamic world.”
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Saudi Aramco IPOLack Of Transparency Could Hurt Aramco’s $2 Trillion Valuation
The primary discussion taking place is the overall level of transparency offered by Aramco's leadership, which is supported by the Saudi government. After several days of attending the GCC Petroleum Media Forum in Abu Dhabi, attended by all GCC ministers of oil, including Saudi minister Khalid Al Falih, and a long list of government advisors, the issue of transparency has yet to be solved.
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Space MiningSpace May Be Next Frontier for Earth’s Crude Oil Giants: Analyst
“Space mining is still a long way from commercial viability, but it has the potential to further ease access to space,” Poponak wrote. “Water and platinum group metals that are abundant on asteroids are highly disruptive from a technological and economic standpoint.”
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Israel-GazaAssassination of senior Hamas operative sparks tensions between Israel, Gaza
Hamas closed its only civilian border crossing with Israel on Sunday, and Israeli troops were on high alert as tensions between the two enemies continued to rise, two days after a senior Hamas operative was mysteriously shot dead at point-blank range in the garage of his home.
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