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Ritz Carlton Riyadh May Re-Open in February as Prince Alwaleed bin Talal Reportedly Negotiating for Release
- January 15,2018
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- SUSTG Team
The palatial Ritz-Carlton in Riyadh may re-open in mid-February 2018 after it served as a makeshift detainment center for Saudi elites accused of corruption charges. The hotel has re-opened its online reservation system, accepting new guests as soon as February 14th. Reservations attempted before that date re-direct to a notification that no rooms are available at […]
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Report: Saudi Government, SBG in Talks for State Takeover of Troubled Construction Giant
- January 12,2018
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- SUSTG Team
Saudi Arabia is taking managerial control of Saudi Binladin Group (SBG) and discussing a possible transfer of some of the giant construction group’s assets to the state while its chairman and other family members are in detention, Reuters reports today citing sources. Binladin is the biggest builder in the country and important to Saudi Arabia’s plans for […]
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‘145,000 Documents Processed’ for Saudi Citizens Account Providing State Financial Support – Report
- January 9,2018
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- SUSTG Team
The Saudi government says that its Saudi Citizen Account Program (SCAP) has handled “nearly 145,000 documents proving applicants eligibility for payments since its launch in February 2017,” according to the Saudi Press Agency and Arab News. SCAP is a welfare program that helps low- and middle-income families cope with the changes happening as a result of Vision […]
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First Utility-Scale Solar Plant Planned for Northern Saudi Arabia Receives Bids
- January 5,2018
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- SUSTG Team
Saudi Arabia has announced a shortlist of bidders for the first utility-scale solar plant planned for northern Saudi Arabia, according to reports. The planned 300-megawatt solar photovoltaic (PV) project is in Sakaka, Al-Jouf province. “All of the bids opened today (Tuesday) will now undergo stringent technical, financial and legal evaluation,” Turki al-Shehri, the head of the […]
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With Abbas Visit, Saudi Arabia’s King Salman Reaffirms Support for Palestine
- December 21,2017
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- SUSTG Team
Saudi Arabia’s King Salman reaffirmed Saudi Arabia’s longstanding support for the Palestinian cause during a meeting with Mahmoud Abbas at Al-Yamamah Palace in Riyadh on Wednesday, in the wake of President Trump’s controversial move to recognize East Jerusalem as the capital of Israel and move the U.S. embassy there. The meeting between King Salman and President Abbas is the […]
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‘Largest Ever’ Budgeted Expenditure for Saudi Arabia in 2018 as Kingdom Looks to Propel Growth
- December 20,2017
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- SUSTG Team
Government officials unveiled Saudi Arabia’s largest budgeted expenditure ever as the Kingdom looks to propel economic growth following two years of reduced spending. Compared to previous years, the budget is expansionary. Saudi Arabia will spend SR88 billion ($23.5 billion) more in 2018 compared with 2017. The announcement was made at a press conference at which Finance Minister Mohammed […]
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Saudi 2018 Budget will be ‘Expansionary’ after Two Years of Tight Spending
- December 18,2017
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- SUSTG Team
Saudi Arabia’s budget will be announced tomorrow and will include a “focus on expansion, development and investment” according to comments made on Al-Arabiya TV by a Saudi finance ministry official, and reported in Reuters. “If there was to be a title for the 2018 budget, it would be the budget of expansion and development and […]
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Nearly $20b in Stimulus for Saudi Economy in 2018
- December 14,2017
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- SUSTG Team
Saudi Arabia has unveiled a stimulus package to begin next year with money to support housing construction as well as fee waivers for small businesses. Saudi Arabia’s King Salman issued a royal decree approving 72 billion riyals ($19.2 billion) worth of measures to stimulate growth in the private sector next year (2018), and 200 billion […]
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Trump Administration, Saudi Government at Odds over Yemen Blockade, Jerusalem Decision
- December 7,2017
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- SUSTG Team
In an unusual public demand of Saudi Arabia, President Trump has called on Saudi leaders to ease the blockade of Yemen to allow for humanitarian aid to assist the war-torn and decimated country. “I have directed officials in my administration to call the leadership of the Kingdom of Saudi Arabia to request that they completely […]
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Energy Secretary Rick Perry Meets with Top Saudi Leaders; Photos from Visit Go Viral
- December 6,2017
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- SUSTG Team
U.S. Secretary of Energy Rick Perry visited Saudi Arabia over the weekend as part of a tour of three Gulf states, his first trip to the region since becoming the top U.S. energy official. Secretary Perry’s tour of Saudi Arabia was packed with events and visits with key Saudi officials as well as energy institutions in the […]
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MUST-READS
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InvestmentReuters poll: MENA fund managers to boost Egypt, UAE investments, still bearish on Saudi
Middle Eastern funds plan to increase their investments in Egypt and UAE and decrease allocations in Saudi Arabia, while keeping their exposure to other countries in the region at current levels, according to a Reuters poll.
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G7Europe Has Dug In Against Trump’s Iran ‘Maximum Pressure’ Campaign
Divisions over Iran will be on full display when Trump meets his European peers at a Group of Seven meeting starting Saturday in the coastal city of Biarritz.
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EntrepreneurshipEgypt’s RiseUp acquires Saudi’s MENAbytes for undisclosed sum
Egypt-based entrepreneurship summit organiser RiseUp has acquired Saudi-based tech start-up publication MENAbytes for an undisclosed sum. The acquisition includes the publication’s new data platform trackMENA, which helps users track start-ups, venture capital companies, investments and acquisitions in the MENA region.
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In-Kingdom Total Value Add Program (IKTVA)National Energy Services Reunited wins $600mn contracts in Saudi Arabia
As we have previously stated, we would like to see local high- caliber firms from Saudi Arabia that have proven their ability to handle complex projects to step up and take a larger role to help achieve Saudi Aramco’s In-Kingdom Total Value Add Program (IKTVA) goals
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OPECOPEC oil output hits lowest since 2011 on Saudi cut, sanctions: Reuters survey
OPEC oil output hit an eight-year low in July as a further voluntary cut by top exporter Saudi Arabia deepened losses caused by U.S. sanctions on Iran and outages elsewhere in the group, a Reuters survey found.
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Iran Nuclear AgreementEuropeans, China, Russia to meet Iran in Vienna on July 28
Britain, France, Germany, Russia and China will meet Iran in Vienna on July 28 to discuss how to save the 2015 nuclear deal, the EU’s foreign policy service said in a statement on Tuesday.
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Saudi-KuwaitKuwait Working With Saudis to Resume Neutral Zone Oil Output
Kuwait said it’s working with Saudi Arabia to resume oil production in the neutral zone between them that has been shuttered for at least four years. Saudi Minister of State for Energy Prince Abdulaziz Bin Salman visited Kuwait Wednesday. The two sides will discuss a resumption after the “completion of all technical issues required,” Tareq Al-Mezrem, a Kuwaiti government spokesman, told Kuwait’s state-run KUNA news agency.
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EU in the RegionBritain calls for European naval mission to counter Iran’s ‘piracy’
Britain called on Monday for a European-led naval mission to ensure safe shipping through the Strait of Hormuz, days after Iran seized a British-flagged tanker in what London described as an act of “state piracy” in the strategic waterway.
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HealthcareVIDEO: Saudi Arabia investigates hospital employees after feud
Saudi Arabia's Ministry of Health launched an immediate investigation on Thursday into the case of a medical professional who was filmed scolding a nurse in a public hospital in Muhayil city.
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EntrepreneurshipOn The Fast Track: Saudi Arabia’s Entrepreneurship Ecosystem
Saudi Arabia is a land of immense opportunities in many spheres, and this is also true when it comes to entrepreneurship. According to the 2019 Global Entrepreneurship Monitor report, around 76.3% of the adult population in Saudi Arabia has perceived good opportunities to start a business– with the percentage ranking second highest out of 49 countries analyzed.
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