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Al-Falih Signals ‘Wait and See’ Approach to Trump’s Harsher Iran Oil Sanctions
- April 23,2019
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- SUSTG Team
The recent decision by President Trump to end all Iran sanction waivers by May was welcomed in Saudi Arabia, but the Kingdom indicated it would respond cautiously with decisions on oil production. “President Donald J. Trump has decided not to reissue Significant Reduction Exceptions (SREs) when they expire in early May,” a White House readout […]
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Saudi Arabia to Host 15th Annual G20 Meetings in Riyadh in 2020
- April 19,2019
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- SUSTG Team
Saudi Arabia will host the 15th annual G20 Leaders’ Summit on November 21 and 22, 2020 in Riyadh, the Saudi press agency (SPA) said this week. “Saudi Arabia is fully committed to the G20’s objectives and to the stability and prosperity of the international economic system,” it reported on Wednesday. G20 consists of the 19 world’s largest […]
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Iraqi Prime Minister Adil Abdul-Mahdi Visits Saudi Arabia as Relations Warm
- April 18,2019
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- SUSTG Team
Iraqi Prime Minister Adil Abdul-Mahdi and a delegation visited Saudi Arabia yesterday and met with King Salman and Crown Prince Mohammed bin Salman, as relations between the two nations continue to warm. The Prime Minister’s office said the leaders signed 13 agreements in areas such as trade, energy and political cooperation, without giving further details, according to […]
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Saudi Aramco to Acquire Stake in South Korean Hyundai Oilbank for $1.2 billion
- April 15,2019
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- SUSTG Team
Saudi Aramco says it has reached an agreement to acquire a $1.25 billion stake in South Korean refiner Hyundai Oilbank that would provide it with “a dedicated outlet for its crude to South Korea.” The deal was struck between Aramco and Hyundai Heavy Industries Holdings for Saudi Aramco’s subsidiary, Aramco Overseas Company B.V (AOC), to […]
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Saudi-based Telecom Firm Arabsat is SpaceX’s First Commercial Mission, Falcon Heavy Launch Successful
- April 12,2019
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- SUSTG Team
SpaceX’s Falcon Heavy successfully launched its first commercial mission today with Saudi-based telecom firm Arabsat as its customer in a key demonstration for billionaire entrepreneur Elon Musk’s space company in the race to grasp lucrative military launch contracts, Reuters reports and the companies involved confirm. The Falcon Heavy rocket blasted off from Florida’s Kennedy Space Center […]
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Trump, Crown Prince Mohammed bin Salman Speak by Phone, White House Says
- April 10,2019
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- SUSTG Team
U.S. President Donald Trump spoke with Saudi Arabia’s Crown Prince Mohammed bin Salman by phone on Tuesday, discussing Riyadh’s role in Middle East stability, maintaining pressure on Iran other issues, according to reports. “President Trump and the Crown Prince discussed regional developments and opportunities to further enhance the American-Saudi partnership on a range of security and economic […]
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Orders for Saudi Aramco’s Debut International Bond Topped $100 billion in ‘Vote of Market Confidence’
- April 9,2019
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- SUSTG Team
Orders for Saudi Aramco’s debut international bond topped $100 billion on Tuesday, Reuters reports, in what amounts to a “record breaking vote of market confidence” for Aramco after facing investor concerns about government influence over the company. Al-Falih had previously said the $10 billion bond offering had been oversubscribed well above $30 billion. Demand appeared […]
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House, Senate Vote to End U.S. Support of Yemen War, Setting Stage for Trump Veto
- April 5,2019
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- SUSTG Team
The U.S. House of Representatives approved a resolution on Thursday that would end all U.S. involvement with the Saudi Arabia-led coalition in the war in Yemen, Reuters reports. President Trump is likely to veto the resolution, the second veto of his presidency. The vote in the House was 247-175. 16 Republicans joined the majority Democrats in […]
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Lockheed Clinches $2.4 billion Deal for Sale of ‘Crown Jewel’ THAAD missiles to Saudi Arabia, Part of $15 billion Package
- April 2,2019
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- SUSTG Team
Bethesda, Maryland-based Lockheed Martin Corporation was awarded a $2.4 billion Pentagon contract on Monday for THAAD interceptor missiles, some of which will head to Saudi Arabia, Reuters reports. The announcement of the THAAD system was “part of a $15 billion package for defensive ballistic missile systems,” the UPI reports. Lockheed will provide interceptors and associated one-shot […]
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Saudi Aramco Opens its Books, Officially the World’s Most Profitable Company
- April 1,2019
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- SUSTG Team
State-owned Saudi Aramco is the world’s most profitable firm, eclipsing global heavyweights like Apple and Samsung, according to new data revealed ahead of a major bond issuance. Saudi Aramco’s earnings last year before interests, taxes, and depreciation stands at $224 billion, almost three times as much as Apple. Net income last year was $111.1 billion. The revelation of […]
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Saudi Aramco says pump malfunctioned at petroleum derivatives distribution station in Jazan
Saudi Aramco announced on Wednesday a malfunction in one of the pumps at the petroleum derivatives distribution station in Saudi Arabia’s southern Jazan region, state news agency (SPA) said. The state oil giant said “its technical teams are working around the clock to fix the technical malfunction, as soon as possible, and provide the petroleum products that the Jazan region needs from the station, without interruption, as the supply of petroleum products has gradually returned,” SPA said.
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Saudi Arabia urged to release women’s rights activists by European envoys
Seven European human rights ambassadors criticized Saudi Arabia on Sunday over the continued detention of at least five women's rights activists, including Loujain al-Hathloul, whose case has been referred to a special court for terrorism offenses. Hathloul appeared in a Saudi court on Wednesday, as her trial was scheduled to start after 900 days in pre-trial detention.
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Saudis and Europeans reach compromise on climate as G20 projects unity
Analysts said the display of unity at the Saudi-chaired summit set the groundwork for progress to be made when Donald Trump exits the White House and Italy hosts the G20 next year.
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GCC countries surpass 1 million COVID-19 cases: Reuters tally
The six countries of the Gulf Cooperation Council (GCC) have recorded more than 1 million cases of infection with COVID-19, according to a Reuters tally of data published by each government. The tally in the energy producing region of more than 50 million people stood on Monday at 1,001,182 infections, with 9,162 deaths.
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Biden’s Election Makes U.S. More Popular in Europe, Less Popular in China and Russia
Morning Consult Political Intelligence polling conducted abroad suggests Biden’s election is already making those inroads, especially in Europe: Comparing responses gathered Oct. 3-Nov. 2 and Nov. 8-10, the United States’ net favorability — the share of people with favorable views minus unfavorable views — improved by an average of 22 percentage points among five of its European allies — France, Germany, Italy, Spain and the United Kingdom — with 42 percent expressing both favorable and unfavorable views in the latest tracking.
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Saudi Commerce Ministry granted European certificate
The CEO of the European Foundation for Quality Management (EFQM), Russel Longmuir, said during a virtual meeting with Saudi Commerce Minister Majid Al-Qasabi that among the 50,000 government bodies evaluated in the last 30 years, only 10 percent succeeded in obtaining a 4-star or higher rating.
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Podcast: Saudi Arabia’s health sector transformation: can it advance the domestic manufacture of pharmaceuticals?
In this podcast interview, Musaed Alkholief, Associate Professor at the College of Pharmacy, King Saud University, and Consultant at King Abdullah Institute for Research and Consulting Studies discusses how biopharmaceutical companies can unlock those undoubted opportunities presented by the proposed transformation of Saudi Arabia’s health sector.
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G20 YEA Saudi Virtual Summit 2020 kicks off under the theme ‘entrepreneurship is a source of innovation and resilience’
Chaired by H.R.H. Prince Fahad bin Mansour bin Nasser bin Abdulaziz Al Saud, the G20 Young Entrepreneurs’ Alliance (YEA) 2020 kicked on Thursday October 29th under the theme ‘Entrepreneurship is a Source of Innovation and Resilience.’ Local and global speakers took to the stage sharing insights, learnings, and expertise focusing on the summit’s theme that is built on three main topics, namely Entrepreneurship and the Economy, an Entrepreneurial Disruption, and Social and Environmental Aspects.
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Ethiopia Upbeat on Resolving Dam Feud With Egypt, Sudan
Ethiopia is confident of making headway in resolving a long-running dispute with Egypt and Sudan over a giant dam it’s building on a tributary of the Nile River during a fresh round of talks scheduled for Tuesday. The negotiations on the Grand Ethiopian Renaissance Dam are taking place under the auspices of the African Union, chaired by South African President Cyril Ramaphosa. President Abdel-Fattah El-Sisi of Egypt, Ethiopia’s Prime Minister Abiy Ahmed and Sudanese counterpart Abdalla Hamdok are all expected to attend the virtual meeting. Ramaphosa’s office didn’t immediately respond to a request for comment.
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Inside the ‘entrepreneur’s playground’ in Saudi Arabia
Saudi Arabia has been described as the “entrepreneur’s playground” for creative and innovative talents looking to grasp opportunities and launch in the kingdom. Robert Frith, curator of the annual creativity festival, Tanween, run by the King Abdulaziz Centre for World Culture (Ithra), told Arabian Business he is looking forward to this year’s event to see further evidence of this rapidly evolving sector.
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