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Construction Titan, Saudi Bin Laden Group, Suspended from new Projects Following Review of Mecca Crane Collapse
- September 16,2015
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- SUSTG Team
Custodian of the Two Holy Mosques King Salman on Tuesday ordered that top officials of the Saudi Binladin Group be banned from traveling outside the kingdom after investigators pinned the blame partially on the construction company for Friday’s deadly crane crash in Makkah, Arab News reports. The company is also forbidden from taking on new […]
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The Middle East’s Migration Crisis Brings Regional Challenge Home to Europe, Gulf States
- September 15,2015
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- SUSTG Team
As a global crisis emerges on how and even if it is possible to accommodate the displaced from Syria’s conflict, a once-distant conflict for many in Western nations and in Gulf states is now a real and visible problem that cannot be ignored. With hundreds of thousands of migrants in exodus – many of whom have left Syria as […]
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Jadwa Investment September 2015 Chartbook: Saudi Government Slows Reserves Drawdown, Oil Affects Stock Market
- September 2,2015
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- SUSTG Team
Jadwa Investment’s September 2015 Saudi Chartbook, a detailed look at key economic performance data for the Kingdom’s economy, finds oil prices pushing downward on the Saudi stock market, but a slowdown to 10-month lows in the Government’s drawdown on assets. Jadwa Chief Economist Dr. Fahad Alturki, in a message to investors, noted four key findings in […]
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MERS Surges Ahead of Hajj in Test to New Health Minister
- August 24,2015
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- SUSTG Team
Saudi Arabia’s Ministry of Health confirmed 49 new cases of Middle East Respiratory Syndrome (MERS) coronavirus in the last week as the urgency to keep the forthcoming Hajj period free of the infectious disease rises. So far, Saudi Arabia has identified 1,147 infections of the virus, including 487 deaths, since the appearance of the disease […]
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Saudi Oil Exports Boosted to Record Numbers as IMF Urges Fiscal Policy Changes and Greater Economic Diversification
- August 19,2015
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- SUSTG Team
Saudi Arabia’s oil exports rebounded in June from a five-month low as the largest OPEC producer boosted output to a record, Bloomberg reports. Exports climbed to 7.37 million barrels a day from 6.94 million barrels in May, according to JODI data. Saudi Arabia told OPEC its June production was a record, exceeding a previous all-time high set in […]
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U.S. Secretary of Defense Ash Carter to Visit Saudi Arabia Next Week to Push Benefits of Iran Deal
- July 16,2015
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- SUSTG Team
U.S. Defense Secretary Ash Carter will travel to Saudi Arabia as part of the Obama administration’s efforts to convince skeptical allies in the region about the benefits of the Iran nuclear deal, National Security Adviser Susan Rice told Reuters in an exclusive interview on Wednesday. Carter’s trip had not been announced previously. Although Saudi Arabia […]
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Saudi Oil Export Revenues Down 46% in 2015 as Drawdown on Net Foreign Assets Continues
- June 30,2015
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- SUSTG Team
Saudi Arabia exported 1.4 billion barrels of oil in the first half of the current year for a total revenue value of SAR305 billion ($81.33 billion), according to latest figures. These revenue figures are down about 46% from the same period last year. The Kingdom also consumed about 23% of all the oil it produced for […]
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Laughing Off Daesh Threats: Saudi Comedian Uses Satire Against Self-Described Islamic State
- June 25,2015
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- SUSTG Team
A Saudi comedian threatened with beheading by Islamic State supporters on social media, and accused of apostasy by a Saudi Imam, says he will continue to use humor as a tool against the extremist group. Nasser al-Qasabi is a 53 year-old Saudi comedian. A recent sketch, entitled ‘Selfie’, which aired on the Saudi television channel MBC, […]
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Saudia’s ‘Largest aircraft leasing deal in history’ to include 50 Airbus planes
- June 24,2015
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- SUSTG Team
According to a press release, Saudia is set to lease 50 Airbus planes as the national carrier of Saudi Arabia expands its fleet, including 30 Airbus aircraft of A320-200 model and 20 aircraft of A330-300 model. In a statement last week, Airbus confirmed that Saudia will become the first airline in the world to operate the new Airbus […]
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Large Jump in May Oil Shipments to China Moves Russia Past Saudi Arabia
- June 23,2015
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- SUSTG Team
Russia has leaped ahead of Saudi Arabia as the top oil supplier to China, according to Bloomberg, as the race to supply the world’s second-largest oil consumer heats up. Bloomberg: “China imported a record 3.92 million metric tons from its northern neighbor in May, according to data emailed by the Beijing-based General Administration of Customs on Tuesday. […]
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MUST-READS
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Alinma Bank, Foodics sign strategic partnership to empower SMBs in Saudi
Under this partnership, the two brands have come together to launch new products to enable small business owners to have full autonomy over their business decisions, allowing them to sell from anywhere at any time and accept payments on the go. This will allow them to maximise their sales and their productivity, while keeping track of their sales figures, inventory and customers.
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Opinion: Reema Bandar Al-Saud – A New Shape for US-Saudi Relations
As my nation develops, so too, must the U.S.-Saudi partnership. And that is why the upcoming visit by President Joe Biden to Saudi Arabia is so pivotal. For our relationship to deliver peace and prosperity for both of our peoples and the wider world, we must redefine the contours of the next eight decades of this critical alliance.
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Protesters abandon seized palace with Sri Lanka in limbo; Rajapaksa’s final destination may be Saudi Arabia
It was not immediately clear what Rajapaksa’s final destination would be. The official initially indicated he planned to travel onward to Saudi Arabia, but later could only confirm his first stop in Singapore, where the plane believed to be carrying him landed Thursday evening.
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Expanding West Bank settlements test Biden visit: Video
Largely out of the public eye, Israeli settlements are expanding across the occupied West Bank, raising Palestinian fears of displacement, and posing a test for U.S. opposition to such building ahead of President Joe Biden's visit this week. Emma Jehle reports.
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Lebanon: Family dispute apparent motive of Saudi dissident’s murder, security source says
The murder of a Saudi dissident in Lebanon appears to be motivated by a family dispute, a security source has told Middle East Eye. Manea al-Yami was stabbed to death on Saturday in his home in Harek Hreik in the southern suburb of the capital Beirut, an area under the security control of Hezbollah.
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Balance between Saudi bank deposits and loans turns negative for the first time since at least 2013
Growth in Saudi banks’ aggregate credit to the private and public sectors slipped to 14.1 percent in May year-on-year, down from 14.7 percent in April, the most recent data from the Saudi Central Bank revealed. As for banks’ deposits, the rate of annual growth also slowed to 8.9 percent in May versus 9.4 percent in April. In absolute terms, the difference between the deposits and credit turned negative for the first time at least since 2013, according to data compiled by Arab News.
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Saudi dissident killed in Lebanon, opposition party says
Lebanon's internal security forces said a 42-year-old Saudi citizen had been stabbed to death by his two brothers in a family dispute on Saturday, without publishing the victim's name. It said that security forces had arrested the two brothers on Sunday and that they had confessed to the killing. A Lebanese security source confirmed to Reuters that the victim of the stabbing was Manea al-Yami.
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Saudi Arabia lifts COVID-19 travel restrictions for Lebanon: Ambassador
Saudi Arabia has dropped COVID-19 restrictions for passengers travelling from Lebanon, the Kingdom’s ambassador the Middle Eastern country announced on Twitter on Thursday. Saudi ambassador Walid bin Abdullah Bukhari said that the Kingdom had announced that Lebanese citizens will be allowed to travel directly in Saudi Arabia without having to spend 14 days outside Lebanon before entering the country.
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U.S. pressed Lebanon to criticize Hezbollah for launching drones
The Biden administration pressed the Lebanese government to criticize Hezbollah’s attempt to send drones to an Israeli natural gas rig in the Mediterranean and to commit to resolving the maritime border dispute with Israel only through negotiations, sources briefed on the issue told Axios.
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United Arab Emirates set to run Kabul airport in deal with Taliban, sources say
The Taliban and the United Arab Emirates are poised to strike a deal for the Gulf nation to run Kabul airport and several others in Afghanistan that could be announced within weeks, according to sources familiar with the negotiations. An agreement would help the Islamist militants ease their isolation from the outside world as they govern an impoverished country beset by drought, widespread hunger and economic crisis.
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