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Saudi Competitiveness, Energy, Women in Focus at 9th Global Competitiveness Forum in Riyadh
- January 26,2016
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- SUSTG Team
The 9th Global Competitiveness Forum (GCF) in Riyadh entered its third and final day with a focus on energy, women in the workforce, and increasing Saudi Arabia’s competitiveness in the global economy. Annually, it is one of the largest business forums in the Kingdom and is well-attended by government, business, and academic leaders from Saudi […]
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U.S. Chamber of Commerce and Council of Saudi Chambers Kick-off U.S.-Saudi Arabia CEO Summit
- January 25,2016
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- SUSTG Team
On January 24, 2016 at the Council of Saudi Chambers of Commerce building the U.S.-Saudi CEO Summit kicks off a focused, high-level private-sector initiative to assess the U.S.-Saudi commercial and business environment in order to enhance bi-lateral trade, investment and cooperation. The Saudi-US Trade Group team is in Riyadh to participate in the inaugural U.S.-Saudi […]
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U.S., Saudi Business Leaders to Meet in Riyadh for U.S.-Saudi CEO Summit, GCF 2016
- January 21,2016
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- SUSTG Team
U.S. and Saudi business leaders will convene in Riyadh this weekend and into next week for events aimed at promoting business opportunities and investment in Saudi Arabia and enhancing the bi-lateral commercial relationship with the United States. The inaugural U.S.-Saudi CEO Summit, organized by the U.S. Chamber of Commerce and the Council of Saudi Chambers […]
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Saudi-led Intervention in Yemen to Restore Hadi Continues into 10th Month with ‘Different Objectives’
- January 19,2016
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- SUSTG Team
The Saudi-led intervention in Yemen continues into its 10th month of fighting with some gains but no decisive victory for the coalition seeking to restore power to the UN-recognized Hadi government and oust control of parts of the country from Houthi militia members. The coalition has retaken Aden, Yemen’s southern port, and according to Saudi […]
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FM Al-Jubeir: Most Effective Way to Solve Regional Crises ‘Through our close partnership and alliance with the United States of America’
- January 15,2016
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- SUSTG Team
U.S. Secretary of State John Kerry on Thursday stood by ally Saudi Arabia in its widening rift with Iran over the execution of a Shiite cleric while urging the regional rivals to pursue a diplomatic solution, the Associated Press reports. Kerry said Washington stands by its friends, “but we also want to see diplomacy work. […]
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Oil Dips Below $30 on Brent for the First Time Since 2004 as Iran, China Put Downward Pressure on Prices
- January 14,2016
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- SUSTG Team
The price of oil on Brent fell below $30 a barrel for the first time since April 2004, but eventually recovered to $30.22, according to reports. Oil prices have fallen by 70% in the past 15 months. A gusher of supply from around the world continues to put downward pressure on prices. According to CNBC, U.S. […]
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Delivery Schedule, Costs Become Sticking Points in U.S.-Saudi Littoral Combat Ship Deal
- January 13,2016
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- SUSTG Team
Saudi Arabia is balking at the potential sale from the U.S. Navy of 4 Lockheed Martin Littoral Combat Ships (LCS) because of concerns about delivery schedules and costs, according to a report in Defense News. One source thought the time to deliver the first ship would be around seven years, which the Saudis reportedly think […]
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With 49 New Arrests, Saudi Arabia Continues Clamp Down on Domestic Extremists
- January 12,2016
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- SUSTG Team
Saudi Arabia has arrested 49 suspected terrorists over the past 10 days, according to Saudi officials and as reported in the Saudi Gazette. The arrests were “a preemptive crackdown in various parts of the Kingdom,” security sources said, adding that the suspected terrorists surrendered without any resistance. They consisted of 36 Saudis, six Syrians, four Yemenis, a […]
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Saudi Stocks Hit 4-Year Low as Global Markets Shudder at China’s Second Halt in Trading This Week
- January 7,2016
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- SUSTG Team
Saudi Arabia’s stock market has continued a tumultuous start to the new year, with the Kingdom’s benchmark index falling another 4.8 percent on Thursday to a four-year low. According to the Financial Times, the drop this year has totaled 10.6 percent, and leaves it 44 per cent weaker than its post financial crisis peak in 2014. The TASI […]
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‘Major Economic Shake-Up’ In the Works for Saudi Arabia
- December 21,2015
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- SUSTG Team
Saudi Arabia’s deputy crown prince Mohammed bin Salman, Minister of Defense and chair of the powerful Council of Economic and Development Affairs, is planning a major economic shake-up that involves “plans to reshape the economy to withstand low oil prices,” sources told Reuters privately. The strategy includes state spending reforms and privatizations. Bloomberg reports that Saudi officials […]
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MUST-READS
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Analysis: Depleted U.S. oil inventories leave market vulnerable to shocks
But there are some tentative signs the supply situation is stabilising: deficits in both crude and products inventories to the pre-pandemic five-year average have narrowed slightly since late September.
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Iraqis Reject Both Iranian, U.S. Influence
Election results show citizens want a government that can stand on its own without being propped up by Iran, the United States, or shadowy militias.
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OPEC+ agrees to stick to oil production plan, defying U.S. pressure
Russian Energy Minister Alexander Novak told a news conference Thursday: “The decision was made previously to increase production by 400,000 (barrels per day) every month, and I underscore every month, until the end of 2022. Today the decision was reiterated to maintain current parameters which were decided on earlier.”
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U.S. Special Envoy for Yemen Lenderking’s Travel to the Middle East
The Special Envoy and his team remain focused on the need for the Houthis to stop their offensive on Marib and repeated attacks against civilian areas, which are exacerbating the humanitarian crisis.
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U.S. shale producers signal more oil coming, as OPEC counts on restraint
"As oil prices rise, it's increasingly likely that oil production growth resumes," said Josh Young, chief investment officer of energy investor Bison Interests. The gains, however, will remain below the rate of pre-COVID-19 increases, he said.
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U.S. bank Moelis, Emirates NBD hired to advise on IPO of Dubai’s DEWA
U.S. investment bank Moelis and Dubai lender Emirates NBD have been hired to advise on the initial public offering (IPO) of Dubai Electricity & Water Authority, sources familiar with the matter said. The Dubai government said on Tuesday it was planning a stock market flotation of the utility, among 10 state-backed companies to be listed as part of plans to boost activity on the local bourse.
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Iranian claims that U.S. tried to detain tanker false, Pentagon says
American officials said that in reality Iranian forces had seized a Vietnamese-flagged oil tanker last month, and U.S. naval forces were just monitoring the situation.
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China Binges on U.S. Gas to Manage Energy Shortage, Carbon Footprint
China’s natural gas needs are already huge and growing steadily as it pledges to cut demand for coal and seeks to hit a peak of carbon emissions by 2030. China is likely to overtake Japan this year as the world’s biggest importer of LNG. Natural gas accounted for around 8% of China’s total energy in 2020, up from around 3% in 2009.
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Aramco Chairman: Saudi-U.S. relations at ‘dawn of a new era’
“We’re moving from a relationship based on oil to a partnership based on the supply of clean energy in all its forms, a growing trade in materials, a growing exchange of ideas, a partnership based not on resource extraction, but on long-term value creation,” he said.
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Pentagon favors U.S. sale of more than $500 million worth of armed drones to Qatar, but State Department is wary
The Defense Department is encouraging the sale of more than $500 million worth of armed drones to Qatar, even as the State Department has slow-rolled the Qatari government's request, say three U.S. officials and a congressional aide familiar with the discussions.
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