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Saudi Economy: Latest Economic Indicators Point to Evidence of Recovery — Jadwa Investment
- March 2,2021
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- SUSTG Team
Economic indicators for the Saudi economy from the month of January continued to point to a recovery in the non-oil sector, Jadwa Investment says in its latest Chartbook detailing the fundamentals of the Kingdom’s economy.
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‘New Launching-Off Point’ for U.S.-Saudi Ties: U.S. Imposes Sanctions, Visa Bans on Saudis for Khashoggi Killing, but Crown Prince Not Sanctioned
- March 1,2021
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- SUSTG Team
The Biden administration announced sanctions and visa bans on Friday targeting Saudi Arabian citizens over the 2018 killing of journalist Jamal Khashoggi, but stopped short of imposing sanctions on Crown Prince Mohammed bin Salman himself, Reuters reports. A senior Biden administration official, speaking on condition of anonymity to Reuters, said the approach aims to create […]
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President Joe Biden, Saudi Arabia’s King Salman Speak by Phone in First Call of New U.S. Administration
- February 26,2021
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- SUSTG Team
President Joseph R. Biden, Jr. spoke today with King Salman bin Abdulaziz al-Saud of Saudi Arabia to discuss the longstanding partnership between the United States and Saudi Arabia, the first such call between the two G20 nation leaders since Biden took office in January.
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Saudi Arabia’s Tourism Ambitions Expand to Mountainous Asir Province
- February 25,2021
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) launched a new venture that will invest $3 billion in developing tourism and infrastructure in the southwestern mountainous Asir region, according to Reuters and Saudi Arabia’s official press agency.
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Despite Uncertainty, Saudi Economy to Experience Broad-Based Recovery in 2021 – Jadwa Investment
- February 24,2021
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- SUSTG Team
Saudi Arabia will experience a broad-based economic recovery in 2021 as the Kingdom moves beyond the damage caused by the Coronavirus pandemic and low oil prices, Jadwa Investment said in a recent research note. The Riyadh-based bank’s expectations for the Kingdom’s economy come despite a “considerable degree of uncertainty” surrounding the Coronavirus and vaccination roll-outs across […]
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BofA Revises Upward 2021 Brent Oil Price by $10 a Barrel – Report
- February 23,2021
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- SUSTG Team
Bank of America (BofA) Global Research has hiked its forecast for Brent crude oil prices for this year, citing tighter supplies due to the Texas freeze and OPEC+ output curbs and unmatched global monetary stimulus, Reuters reports, citing a research note from the bank.
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Saudi Arabia’s PIF Significantly Increases Investments in U.S. Markets, Wins Big on Live Nation
- February 22,2021
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) significantly increased its holdings and investments into U.S. companies in the fourth quarter (Q4) of last year, public filings made public last week show, after slashing its exposure in Q3. The PIF’s total investments in the U.S. market reached $12.8 billion in the fourth quarter last year, up from $7 billion […]
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Secretary of Defense Lloyd J. Austin III, Crown Prince Mohammed bin Salman Speak by Phone
- February 19,2021
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- SUSTG Team
On February 18, Secretary of Defense Lloyd J. Austin III spoke by phone with Crown Prince and Minister of Defense Mohammed bin Salman to “reaffirm the strategic defense partnership between the United States and the Kingdom of Saudi Arabia,” the Pentagon said in a readout of the call.
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U.S. Treasury Secretary Janet Yellen, Saudi Finance Minister Mohammed Al-Jadaan Speak by Phone to Discuss Coronavirus, Economic Recovery
- February 18,2021
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- SUSTG Team
U.S. Treasury Secretary Janet Yellen and Saudi Finance Minister Mohammed Al-Jadaan discussed the coronavirus pandemic and other issues during a call on Wednesday, the U.S. Treasury Department said. The call is the first between the two finance chiefs after Yellen’s approval as President Joe Biden’s Secretary of the U.S. Treasury.
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After Steady Rise in Oil Prices, Saudi Arabia Plans Production Increase – Report
- February 17,2021
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- SUSTG Team
Saudi Arabia, the world’s largest oil producer, plans to increase oil output in the coming months as a nearly year-long recovery in oil prices is giving the Kingdom confidence that the market has improved enough to reverse a recent big production cut, the Wall Street Journal reports.
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MUST-READS
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Saudi-SwedenUnited Arab Emirates recalls ambassador to Sweden after Saudi spat
The United Arab Emirates has recalled its envoy to Sweden a week after Saudi Arabia did the same. The move came after the Swedish foreign minister denounced Saudi Arabia's flogging of a rights activist.
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Saudi-SwedenSweden May Lose Gulf Allies Over Saudi Spat
Swedish Prime Minister Stefan Löfven's socialist-led government has come under a torrent of criticism from local political and corporate quarters after his administration decided not to negotiate a fresh five-year defense-industrial trade agreement with Saudi Arabia.
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Climate Change: SyriaStudy: Climate change helped spark Syrian civil war.We know the basic story in Syria by now: From 2006-2010, an unprecedented drought forced the country from a groundwater-intensive breadbasket of the region to a net food importer. Farmers abandoned their homes—school enrollment in some areas plummeted 80 percent—and flooded Syria’s cities, which were already struggling to sustain an influx of more than 1 million refugees from the conflict in neighboring Iraq. The Syrian government largely ignored these warning signs, helping sow discontent that ultimately spawned violent protests. The link from drought to war was prominently featured in a Showtime documentary last year. A preventable drought-triggered humanitarian crisis sparked the 2011 civil war, and eventually, ISIS.
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CybersecurityCyberspace Conflict Growing More Destructive, NSA’s Chief Says
“I liken our historical moment to the situation that confronted the U.S. early in the Cold War, when it became obvious that the Soviet Union and others could build hydrogen bombs and the superpower competition showed worrying signs of instability,” Rogers said in his testimony.
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Fear of the Islamic State spawns a renegade Afghan militia
The Margh militia is the latest of the many irregular armed groups brazenly forming across the nation, seldom challenged by authorities even as President Ashraf Ghani has vowed to disband them. With most U.S. and NATO forces gone and Afghanistan’s security forces struggling to fill the void, such renegade militias pose a major obstacle to Ghani’s promise of creating a new Afghanistan where the rule of law is respected.
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ExtremismKingdom sparing no effort in fight against extremism, terrorism: Saudi King
King Salman also addressed how acts committed by global terror groups such as the Islamic State of Iraq and Syria (ISIS) and Al-Qaeda affiliate the Al-Nusra Front were affecting relations between Muslims and other peoples from across the globe. He said such groups had “given an excuse to those already against Islam and who seek to harm it to vilify our upright and rightly guided faith whose followers number 1.5 billion people around the world and who are now associated with this mindless faction which has no relation to Islam in any way.”
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KuwaitKuwait pulls licence of company that publishes critical newspaper
Kuwait's trade minister has canceled the business license of the company that publishes a newspaper known for being critical of the government, citing violations of corporate regulations, the newspaper reported on Tuesday.
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GuantanamoGOP senators want greater transparency on Gitmo transfers
Republican senators on Thursday criticized the Obama administration for releasing five Yemeni detainees from Guantánamo Bay to Oman and Estonia, and called for more transparency.
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PressIran summons newspaper over Saudi king death headline
Vatan-e-Emrooz, a conservative daily, has been summoned over a front page story on January 6 headlined with a Persian expression often interpreted as "may I hear the news of his death".
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U.S. - PakistanKashmir shelling, spat over Pakistan aid mar run-up to Kerry trip
Reports of a $500-million Washington aid package to Pakistan and a period of intense border shelling in Kashmir have overshadowed the run-up to U.S. Secretary of State John Kerry's expected visit to South Asia in the next few days.Kerry is due to attend an investment summit promoted by Indian Prime Minister Narendra Modi at the weekend, and media reports say he will then travel to Islamabad.
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