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Saudi Economy: TASI Rises in April, and Consumer Spending Bounces Back
- April 30,2021
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- SUSTG Team
Recent data on Saudi Arabia’s economy showed a mixed picture for the Kingdom, with non-oil PMI trending lower in March, month-on-month, while remaining in expansionary mode, according to Jadwa Investment and official government figures.
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Saudi Arabia Crown Prince: U.S., Saudi Arabia Still ‘Brothers’, Says Differences Minimal
- April 28,2021
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- SUSTG Team
Crown Prince Mohammed bin Salman of Saudi Arabia said in televised remarks aired on Tuesday in the Kingdom that the United States was still a strong strategic partner under the Biden administration and that Riyadh and Washington had only a few differences which it was working to resolve.
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‘Rapid Radical Reduction’ in Solar PV Price a Massive Opportunity for Saudi Renewables
- April 27,2021
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- SUSTG Team
A significant and unforeseen drop in the cost to produce solar energy in recent years may enable Saudi Arabia to turbocharge its ambitions to diversify its economy and free up more oil for exports, as the Kingdom continues ahead with the development of several solar installations.
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Second Round of Saudi-Iran Talks Planned, Sources Tell Reuters; Both Sides Mum
- April 22,2021
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- SUSTG Team
Saudi and Iranian officials plan further direct talks this month, unnamed sources told Reuters, with the aim of easing tensions between the Middle East arch-rivals in a significant move for regional stability.
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In Latest Saudi Labor Figures, Women Lead Overall Drop in Unemployment
- April 21,2021
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- SUSTG Team
A recently-released report on the Saudi labor market, using figures from Q4 2020, showed a sizable drop in unemployment among Saudis from the previous quarter, according to Jadwa Investment, citing official government data. The General Authority for Statistics’ (GaStat) latest labor market release shows that unemployment in Saudi Arabia declined 2.3%, to 12.6% in Q4 2020, down […]
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Saudi Arabia Red Sea Development Co. On Track to Clinch $3.7 ‘Green Loan’ from Local Banks
- April 20,2021
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- SUSTG Team
Saudi Arabia could be just weeks away from clinching the first significant funding package for a key part of Crown Prince Mohammed bin Salman’s program to diversify the Kingdom’s economy, Bloomberg reports. The Red Sea Development Co.’s 14 billion-riyal ($3.7 billion) loan is set to close with a small group of local banks including Saudi National […]
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Reports Say Saudis, Iran Held Direct Talks Facilitated by Iraqis
- April 19,2021
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- SUSTG Team
The London-based Financial Times reports that Saudi Arabia and Iran have held direct talks in Iraq on easing tensions, with the process being facilitated by Iraqi prime minister Mustafa al-Kadhimi, who held talks with Prince Mohammed in Riyadh last month.
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Oil Rises Above $67 in Fifth Day of Gains as Demand Outlook Looks Strong
- April 16,2021
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- SUSTG Team
Oil rose above $67 a barrel on Friday, gaining for a fifth session, “as a stronger demand outlook and signs of economic recovery in China and the United States offset rising COVID-19 infections in some other major economies,” Reuters reports.
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New Regulatory Framework Aims to Encourage Foreign Ownership of Real Estate in Saudi Arabia – Report
- April 15,2021
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- SUSTG Team
A new report in the London-based Asharq Alawsat revealed an under-consideration initiative within a larger national strategy new regulations enabling non-Saudis’ ownership of real estate in the Kingdom, a move that hopes to attract foreign capital and increase investments in the sector.
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New KAPSARC Paper Examines Economic Diversification Under Saudi Vision 2030
- April 14,2021
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- SUSTG Team
A new paper published by the King Abdullah Petroleum Studies and Research Center (KAPSARC) in Saudi Arabia examines the Kingdom’s advances in economic diversification so far under Saudi Arabia’s Vision 2030 social and economic reform plans, launched in 2016.
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MUST-READS
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AerospaceSaudi Aerospace Engineering Industries to build US$ 765 mn facility in Jeddah
Saudi Aerospace Engineering Industries said on Monday it planned to build a SR2.87 billion ($765.33 million) aircraft maintenance, repair and overhaul facility in Jeddah in a joint venture to be led by Turkish airport builder and operator TAV.
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Syria TalksIran says may quit Syria talks, in worsening spat with Saudi rival
Iran said on Monday it would quit Syria peace talks if it found them unconstructive, citing the "negative role" of Saudi Arabia, in the latest twist in a spat between the regional rivals that bodes ill for efforts to ease turmoil across the Middle East.
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AfghanistanAs the Pentagon plan for Afghanistan shifts, dispatches from the war zone
Bagram has been at the heart of much of Afghanistan’s tumultuous history over the last 60 years. The airport here was first built in the 1950s, as Washington allied itself with Kabul during the Cold War. President Dwight D. Eisenhower even landed at the airport here in 1959, traveling south by motorcade about 30 miles to Kabul as part of an official visit.
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Saudi-SwedenSweden Seeks Saudi Investments as Ties Improve After Rights Spat
Sweden is exploring new investments in Saudi Arabia six months after a diplomatic spat threatened bilateral trade ties.
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Democratic DebateDemocratic debate: Presidential hopefuls spar over Syria, Iraq
Foreign policy played a major role in the first debate featuring the Democratic presidential candidates on Tuesday night, with the hopefuls sparring with frontrunner Hillary Clinton over Iraq, Syria and the use of military force.
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Middle East AirspaceMid-East airspace has become ′unpredictable′
We have to look at the different Middle East nations separately. Flying over most of the countries in the region is safe. But there's a higher risk for regular passenger airlines in Iraq, Syria, Afghanistan and a couple of neighboring areas. Most airlines already avoid this area anyway, though.
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Saudi-FranceFrance to agree aerospace deals with Saudi Arabia, sources say
France and Saudi Arabia are to agree big aerospace contracts when French Prime Minister Manuel Valls visits the kingdom on Tuesday, sources close to the matter said on Sunday.
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Saudi Women DriversSaudi woman driver sparks new debate
A Saudi woman said she was forced to drive her car in Dammam after she fell out with her driver and he walked away.
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Capital PunishmentSaudi execution set for juvenile offender sparks human rights uproar
The nephew of a prominent government critic, Nimr was held without charge for two years at a prison in Dammam in the kingdom's Eastern Province. Amnesty International charged in a report last month that he was tortured into confessing to taking part in the illegal protest, attacking security forces, possessing a machine gun and committing armed robbery.
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The Hajj tragedy sparks a firestorm for the Saudi crown prince and new frictions with Iran
The crown prince had already earned Iranian animosity when his security service engineered the capture of Ahmed Ibrahim Mughassil, the mastermind of the June 1996 Khobar terrorist attack in the Kingdom that killed 19 American servicemen.
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