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Recent stories from sustg
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Khalid bin Musaed bin Saif bin Abdulaziz Al-Saif (1953-2024)
*A note from SUSTG’s President, Richard Wilson.* My friend, Khaled Al-Saif, a true Saudi patriot, passed away on February 18.
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SoftBank to Create Industrial Robots for Saudi Arabia
Alat (Arabic for ‘machines’), the PIF funded $100 billion initiative to create an automated manufacturing hub in Saudi Arabia will invest up to $150 million in partnership with SoftBank.
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2nd Edition of FII in Miami, Florida Kicks Off Tomorrow
Leaders from the public and private sector, business and finance executives and others will descend this week on Miami for the second FII event to take place in that city to discuss potential solutions to the planet’s ongoing conflicts and climate change, as well as artificial intelligence.
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What it’s like to live in Saudi Arabia during Riyadh Season, PIF-backed Alat launches with eyes on a big impact, and more…
The boys are back for their normal format and catch up on just some of the seemingly endless new developments and storylines emerging from Saudi Arabia of late.
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Science Museum Group to create ‘museum hub’ in Saudi Arabia
The Science Museum Group is to create a Museums Hub in Saudi Arabia which it says will become a “center of excellence for science and culture and support the wider museum sector”. The new hub, to be located in Riyadh, hoped to enable the Science Museum Group to work with museum professionals, researchers and educators […]
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Saudi Family Office Mithaq Capital Buys Majority Stake in Struggling Retailer Children’s Place
Saudi Arabia’s Mithaq Capital, a family office owned by the Al Rahji Family, snapped up shares in struggling children’s retailer The Children’s Place to take a majority stake in the company, Semafor reports.
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House Prices in Riyadh Continue Climb into Record Territory — Knight Frank Report
Global real estate consultancy Knight Frank released today its Winter 2023/24 Saudi Arabia Residential Market Review, available now on the company’s website.
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A Look at Saudi Arabia’s Latest Tourism Figures
Tourism minister Ahmed bin Aqeel Al Khateeb recently revealed Saudi Arabia’s latest tourism figures — key numbers for the Kingdom as it looks to diversify its economy in part by attracting visitors to the Kingdom.
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Discussing Saudi Arabia’s growth and construction projects with Waleed Abdel-Fattah, President of the MENA Region at Hill International
Waleed Abdel-Fattah, President of the MENA Region at Hill International, joins The 966 to talk about Saudi Arabia’s building boom and Hill’s traction in KSA since entering the market to help build out what is now known as KAFD. Hill has 100 offices across 42 countries, and its main geographical areas are the US, Europe […]
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Saudi Arabia Leads Arab Push for Palestinian State as Anger over Israel’s Brutality Mounts in East and West
Saudi Arabia is pushing for Arab states to take “a common position on how to end Israel’s war on Hamas as fears grow over its attacks on the refugee haven of Rafah — while increasing calls for an independent Palestinian state,” Bloomberg reports.
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MUST-READS
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Qatar Standoff Tests China’s Neutrality on Saudi-Iran Feud
Talks this week on letting Iran join a Beijing-based cooperation bloc highlight the challenge China faces in trying to avoid taking sides in the Middle East’s spiraling sectarian crisis.
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A Saudi-Iranian tug of war over Lebanon
“The president (Aoun) knows that he can benefit much more from being friends with the Gulf countries than being completely on the side of Iran and Hezbollah.
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Commentary: Holy War of Words: Growing Saudi-Iranian Tensions
At the very least, the tension represents a setback for U.S. policy, since the Obama administration had hoped that such animosity would be reduced at least somewhat by last year's nuclear agreement with Iran.
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What Would a Saudi-Iran War Look Like? Don’t look now, but it is already here
Now Iran seems to have provided its Shiite Houthi allies with C-802 missiles, which have been used in a number of attacks on United Arab Emirates (UAE) warships in the Saudi-led war in Yemen. The Houthis are inflicting heavy damage on the Saudi military, destroying scores of U.S.-supplied main battle tanks and other armoured vehicles using Iranian-provided anti-tank guided missiles. Iran’s proxies are seizing terrain in southern Saudi Arabia and lobbing Scud missiles at military bases deep within the kingdom.
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The Saudi-Iranian Rivalry and the Gulf Littoral States
Each of the six Gulf Arab states perceives the nature and magnitude of the “Iranian threat” differently.
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In the Saudi-Iran Oil Clash, Riyadh Gains an Edge
Saudi Arabia is poised to boost its share of OPEC oil production in the coming months, as Iran's rapid recovery runs out of steam and the kingdom raises output as summer temperatures soar.
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Saudi-Iranian Haj accord yet to be signed
A much-anticipated agreement between Saudi Arabia and Iran regarding the pilgrimage arrangements for Iranian pilgrims was not signed on Thursday as planned after the Iranian delegation failed to show up.
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Saudi-Iran split muddies OPEC long-term strategy: Sources
OPEC has yet to agree on a long-term strategy as Saudi Arabia objects to a proposal from arch-rival Iran that the exporter group aim for tighter control of the oil market, sources said, pointing to deep divisions over the way forward. The OPEC board of governors met on Monday in Vienna to discuss the latest draft of its LTS. While they made progress on some issues, OPEC kingpin Riyadh disagreed with Tehran's proposal to include "effective production management" as a challenge for the group, two OPEC sources said. "Iran and Saudi did not agree," said one source, who declined to be identified. Iran, according to an earlier draft of the LTS seen by Reuters in November, had proposed that the first of 10 challenges OPEC listed for itself—"sustaining oil market stability"—be tweaked to refer to managing supply. "The first challenge could be expressed in a more clear way as follows: 'Sustainability of oil prices at optimal levels as well as maintaining effective production management, in light of dynamic market conditions,"' Iran wrote on the earlier draft. At stake, fundamentally, is whether the Organization of the Petroleum Exporting Countries puts its traditional role of fixing supply to prop up prices—a position favored by Iran and other members such as Algeria—at the top of its agenda. ‹ Doha summit fails to agree on output freeze Saudi Arabia isn’t the only country looking to kick its crude addiction Iran v Saudi Arabia's showdown in Doha › Or, in response to rising supply outside the group, OPEC steps back from attempting to manage the market - a view in line with the thinking of Saudi Arabia, which led a shift in OPEC strategy in November 2014 when the group refused to cut output. The debate matters for the oil industry and wider economy as oil prices, which began a slide from over $100 a barrel in June 2014 due to oversupply, deepened their collapse in response to OPEC's decision not to cut. Crude hit a 12-year low in January this year and is now trading around $45. That policy shift continues to divide the group, with members disagreeing about the need to support a fair oil price and boost revenues. The earlier LTS draft seen by Reuters carried annotations from Iran and Algeria for measures to support prices such as a price target or floor and a return to OPEC's quota system. Saudi Arabia and its Gulf OPEC allies oppose a return to quotas, which were dropped in 2011. The long-term report is prepared by OPEC's research team in Vienna and traditionally cautions that it does not articulate the final position of OPEC or any member country on any proposed conclusions it contains. OPEC officials will meet again this year in an attempt to reach agreement on the long-term strategy, sources said. Two OPEC sources described the areas of disagreement as relatively small.
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Saudi-Iranian Tensions at Play In Lebanon
“It is not a matter of money," he said. "The Saudi decision is about trust, which is more important than money.”
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Why Hamas hopes to keep a low profile in Saudi-Iranian tensions
Hamas’ relationship with Saudi Arabia witnessed a major breakthrough following Hamas leader Khaled Meshaal’s visit to Saudi Arabia in July. Meanwhile, Hamas and Iran are continuing political talks in Beirut to improve their relations.
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