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Recent stories from sustg

  • Saudi Arabia’s $220bn spending spree
     

    Even at growth of 3.4 percent, Saudi Arabia’s economy will be the envy of most other large countries. That figure is above the average expected GDP (3 percent) of the G20 nations – of which the kingdom is one – according to Moody’s. And, waiting in the wings, is Saudi Arabia’s vast foreign reserves, which […]

     
  • ‘Expansionary’ Saudi 2013 Budget Provides for Record Spending on the Back of 2012 Surplus
     

    A recently released report by Jadwa Investment on Saudi Arabia’s 2013 budget highlights the Saudi government’s plans for record spending to sustain the Kingdom’s economic expansion next year.

     
  • Jadwa Investment – December 2012 Saudi Chartbook
     

    Jadwa Investment’s Saudi Chartbook for the month of December 2012 assesses a number of key aspects of the Saudi economy including the real economy, bank lending, banking indicators, inflation, trade, oil, exchange rates, the TASI (Saudi Stock Market), sectoral performance, and more. A summary of the report is provided for your consideration below, and the […]

     
  • AME Info’s series on doing business in Saudi Arabia: a guide to the guide
     

    AMEinfo, based in Dubai’s Media City, is a well-known provider of business news and information covering the Gulf and larger Middle East.  Founded in 1993 it was acquired by London-based Emap Communications in July 2006.  Emap also owns MEED. The AME info site now claims over two million readers monthly.

     
  • Saudi non-oil sector to expand 6% in 2013
     

    Saudi Arabia shows some tightness in the local financial system, reflecting a scarcity of corporate deposits, but this appears to be abating and might in any case reflect strong investment growth in the non-oil economy. Local firms continue to report strong growth in new orders, with exchange rate movements helping make non-oil exports more competitive. […]

     
  • Jadwa Investment – November 2012 Saudi Chartbook
     

    Jadwa Investment’s Saudi Chartbook for the month of November 2012 assesses a number of key aspects of the Saudi economy including the real economy, bank lending, banking indicators, inflation, trade, oil, exchange rates, the TASI (Saudi Stock Market), sectoral performance, and third quarter earnings. To read the entire report in full as a PDF, click […]

     
  • Anne Habiby: Entrepreneurship and Job Creation in the Arab World
     

    In addition to featured speakers such as President Bill Clinton and Mr. Abdullah Alireza  the recent C3 Summit in New York City presented a number of compelling panel discussions addressing commercial and trade issues related to doing business in the MENA region. SUSTG has featured the remarks at this event of Abdullah Alireza (Global Economic […]

     
  • The Saudi Economy: Still Shining
     

    A recently released October 2012 economic report by Jadwa Investment finds that a recent flow of data has been generally stronger than expected, and as a result of high oil production (which elevates the hydrocarbon sector growth to 6.1 percent for the year) Jadwa raises its projections for Saudi Arabia’s budget and current account surpluses. […]

     
  • Public policy considerations in Saudi Arabia’s new Arbitration Law
     

    We see plenty of coverage these days of Saudi Arabia’s growing economy; and justifiably so.  Expansionary government spending, elevated oil prices, a strong banking system, a maturing private-sector, increasing diversification, growing foreign investment and other factors contribute to an exciting period for Saudi Arabia. While elevated oil prices have fueled Saudi Arabia’s impressive recent growth, […]

     
  • Modernity and tradition: Khalid Habash’s stunning photos of Saudi
     

    It is no secret that Saudi Arabia’s economy and society are modernizing at a remarkable pace. Already the Arab world’s largest economy, the Kingdom also has one of the world’s highest GDP growth rates.  Government spending is expansive and investment in infrastructure, education and numerous other sectors are at all time highs.  Soon to be […]

     

MUST-READS

  • PGA Tour — LIV Golf Uneasy Truce Looms Over 2024 Masters

    On the morning of March 18, 2024, a Cessna 750 Citation X departed from St. Augustine, Florida, carrying professional golfers from the PGA Tour to a summit in Nassau, Bahamas. This meeting was a key development in the battle between the Tour and its insurgent challenger, LIV Golf. The tour wars had spilled from the sports page to the business page to the front page because of a juicy mix of geopolitics, cartoonish money, courtroom battles, brand-name protagonists and high-profile trash-talking on Capitol Hill.

  • Wall Street Searches for AI Winners Across Emerging Markets

    Some of the world’s biggest money managers are searching for the next wave of artificial intelligence winners beyond the US. At a time when the global euphoria about AI has propelled a three-fold surge in Nvidia Corp. and a 50% jump in a key US index for semiconductor manufacturers in less than a year, investors are pointing toward emerging markets for better value and a bigger pool of options.

  • Abu Dhabi’s Lunate, Saudi Group Buy Into Iconic Dubai Tower

    An Abu Dhabi investment firm and a Saudi conglomerate have bought into the largest office tower in Dubai’s financial hub, securing a slice of one of the world’s few upbeat commercial property markets. The $105 billion fund Lunate and Saudi Arabia’s Olayan Financing Company have bought a 49% stake in ICD Brookfield Place in one of the largest commercial real estate transactions since the start of the pandemic, according to a statement. Financial details weren’t disclosed, though Bloomberg has previously reported the tower could be worth as much as $1.5 billion.

  • Saudi Arabia blocks 3,317 sites over intellectual property breaches, seizes over 41 million items

    Saudi Arabia blocked 3,317 websites last year for violating intellectual property rights rules in the kingdom, according to an official report.
    The Saudi Authority for Intellectual Property, a government agency, added that it seized more than 41 million items that had infringed intellectual property rights last year.

  • Saudi Arabia could lead this new and safer form of nuclear energy

    Saudi Arabia’s per capita fossil fuel consumption is the lowest among the Gulf states but still double that of Germany, representing a very significant financial opportunity cost in terms of revenue from exports. Moreover, a 2020 report from the Brookings Institute pointed out, “In the medium term, revenues from oil are expected to decline in the face of reductions in global demand starting around 2040, if not sooner.”

  • Saudi low-cost airline flyadeal’s vision to be a pioneer and innovator “investing in disruptive technology to make the passenger experience simple, efficient and user-friendly”

    Steven Greenway was appointed CEO of Saudi low-cost airline flyadeal in January 2024. “The pace at which the Kingdom is growing with mass investment in infrastructure, including aviation and tourism, is just staggering,” Greenway begins. “So for me, it was about taking a deep breath and a holistic overview of what’s happening.

  • Dengue outbreak raises concerns in Saudi Arabia as mosquito numbers surge

    Saudi Arabia is grappling with a surge in dengue fever cases, leading to growing concerns among health authorities who say intensified efforts are needed to control outbreaks and raise awareness on preventative measures.

    The virus is spread from the bite of an infected Aedes mosquito, primarily the Aedes aegypti species, which thrives in tropical and subtropical climates. It spreads dengue and other viruses, including Zika, making it one of the top three mosquitoes in the world in terms of the number of diseases it can spread.

  • Saudi Arabia starts enforcing first phase of regulating order delivery sector

    The Saudi Transport General Authority (TGA) has started enforcing the first phase of the decisions to regulate the order delivery sector from Tuesday, April 2. This covers three decisions such as obligating non-Saudis working in delivery applications to join one of the companies licensed for light transport activity in four regions of the Kingdom in the first phase; limiting freelance work to Saudis, in addition to issuing controls regulating the use of motorcycles in delivering orders in coordination with the General Department of Traffic, and adoption of uniform for drivers.

  • WTA Finals to be held in Saudi Arabia from 2024-2026 with record prize money

    The season-ending WTA Finals will be held in Saudi Arabia's capital Riyadh from 2024-2026, the women's tennis body said on Thursday, ending months of speculation and marking the Gulf country's latest foray into the sport.
    Riyadh will host the season finale - which features the top eight singles players and doubles teams - from Nov. 2-9 and replaces last year's hosts Cancun, Mexico.
    The WTA said its agreement with the Saudi Tennis Federation will offer record prize money of $15.25 million this year with further increases in 2025 and 2026.

  • Sand creature — like something out of ‘Dune’ — found in Saudi Arabia. See new species

    Along the coast of Saudi Arabia, the Red Sea retreats from the rocky and sandy beaches with the tide, revealing small pools teeming with life. The “lagoon-like” environments are scattered along the shore where land meets water, and in them, tiny creatures crawl up under the rocks and burrow into the sand. Then the rock lifts, and the creepy crawlies are met with the wide eyes of a researcher. One of these researchers is Chloé Fourreau, a PhD student at the University of Ryukyus in Japan. Fourreau is part of a team searching the coastline for the presence of Perinereis, a type of segmented marine ragworm. It wasn’t long before researchers found one — and it’s a new species.