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U.S. Envoy for Yemen Tim Lenderking Again Visits Riyadh in Push to Bring Yemen War to Close
- June 17,2021
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- SUSTG Team
Veteran diplomat and U.S. Special Envoy for Yemen Tim Lenderking traveled to Saudi Arabia this week to continue efforts at bringing to a close the ongoing war in Yemen, the State Department and reports confirm. Lenderking held meetings with senior officials from both the official Yemeni government and the Kingdom and UN Special Envoy Martin Griffiths, according to […]
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Goldman Sachs Raises Expectations for Saudi Arabia’s Oil Production and Economic Growth – Report
- June 15,2021
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- SUSTG Team
According to a report in Bloomberg, Goldman Sachs Group Inc. raised its expectations for Saudi Arabia’s oil production and economic growth in 2021 as crude prices soared over $70 a barrel this week and pandemic-related lockdowns continued to ease.
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Shoura Council Calls on Saudi Body to Study Expanding Foreign Ownership of Saudi Land
- June 11,2021
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- SUSTG Team
Saudi Arabia’s Shoura Council has called on the Kingdom’s Real Estate General Authority “to coordinate with the relevant authorities to study its proposal allowing non-resident foreign individuals to own real estate in Saudi Arabia amid specific controls,” the local Saudi Gazette reports.
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Saudi Arabia’s PIF Leads Investment in Gulf Infrastructure Fund from Aberdeen Standard Investments and Investcorp
- June 10,2021
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) has emerged as the lead investor in a planned $800 million Middle East infrastructure fund being established by Aberdeen Standard Investments and Investcorp, Bloomberg reports, citing a statement.
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Saudi Arabia Updates Travel Ban List, Removes 11 Countries
- June 9,2021
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- SUSTG Team
Saudi Arabia has reduced the number of countries where its nationals and citizens are banned from traveling from 20 to just 9 as it continues to open up its airways following the global pandemic.
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Flurry of New Deals Builds on Early 2021 Momentum for Saudi Venture Capital
- June 7,2021
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- SUSTG Team
Saudi Arabia’s venture capital scene continues to grow at an impressive clip as new deals and investments into Saudi companies – or by Saudi venture firms – builds on early growth so far in 2021.
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U.S. State Department Blasts Yemen’s Houthis, Says Iran-Backed Group Bears ‘Major Responsibility’ in Conflict
- June 4,2021
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- SUSTG Team
The Biden administration’s State Department on Friday blamed Iran-aligned Houthis for the failure of a ceasefire to take hold in Yemen and accused them of failing to take additional meaningful steps to end the conflict, Reuters and other news agencies report. “While there are numerous problematic actors inside of Yemen, the Houthis bear major responsibility for refusing to engage […]
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U.S. Defense Secretary Austin, Crown Prince Mohammed bin Salman Speak by Phone; U.S. ’emphasized U.S. Commitment to Helping Saudi Arabia Defend its Territory’
- June 3,2021
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- SUSTG Team
U.S. Defense Secretary Lloyd J. Austin III spoke with Saudi Crown Prince Mohammed bin Salman on Wednesday and emphasized that the U.S. was committed to helping Saudi Arabia defend its territory and people, the Pentagon said in a statement.
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Saudi Arabia’s Economy Jolts to Life as New Economic Data Shows ‘Significant’ Increase in PMI, Non-Oil Exports
- June 2,2021
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- SUSTG Team
Saudi Arabia saw a significant increase in non-oil PMI in April 2021 as both business activity and new orders grew at a faster rate, Jadwa Investment’s recently-released Chartbook for the month said.
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OPEC+ Believes Glut Created with Pandemic ‘Nearly Gone’, Sees Stockpiles Diminishing Rapidly in 2021 – Report
- June 1,2021
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- SUSTG Team
The so-called OPEC+ coalition of oil-producing nations lead by Saudi Arabia and Russia is “expecting world oil markets to get acutely tight” in 2021, a year after taking the unprecedented steps of slashing production in the face of weak demand created by the Coronavirus pandemic, Bloomberg reports.
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MUST-READS
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Saudi-UKBritain’s Labour Party call for UK to withdraw support for Saudi-led coalition in Yemen fails
Boris Johnson rejects calls for end to arms sales to Saudi Arabia as it maintains ‘positive diplomatic influence where UK interests are at stake’
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U.S.-Saudi InvestmentUS eyes private sector investments as part of Saudi’s National Transformation Program
“Some new sectors and sub sectors are emerging as part of the programme. The US government is trying to identify new technologies and solutions that can be introduced in Saudi Arabia from the private sector side in health care, power generation among others,” said Douglas J Wallace, commercial counsellor in the US embassy in Riyadh on the sidelines of AmCham Abu Dhabi round-table summit on Wednesday.
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EconomySaudi Arabia Starts Contractor Repayments After Long Delays
Saudi Arabia is repaying debts to contractors after long delays that squeezed company finances and hurt investor sentiment. Stocks gained.
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War in YemenYemen conflict: Truce to start on Thursday, says UN envoy
A 72-hour truce in conflict-ravaged Yemen is set to begin on Thursday, the UN special envoy has announced.
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U.S.-Saudi CommerceU.S. Official: Saudi Arabia Biggest Commercial Partner in Middle East
Arun Kumar, U.S. Assistant Secretary of Commerce, told Asharq al-Awsat that “Saudi Arabia is the biggest commercial partner of the U.S. in the Middle East,” describing the relations between the two countries as solid.
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Islamic Revolutionary Guard CorpsIranian commander breaks silence on wartime arms imports
Rafiqdoost spoke about the deep collaboration between Iran and the Eastern Bloc countries during the Iran-Iraq War
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Saudi International BondSaudi Arabia to Start Debut Bond Investor Meetings Oct. 12
The kingdom will conduct meetings in London, Los Angeles, Boston and New York from Oct. 12, two people said, asking not to be identified because the information isn’t yet public.
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Israeli SettlementsU.S. condemns new Israeli plan on settlements: State Department
The United States strongly condemned Israel's decision to advance a plan for a new settlement deep in the West Bank, the State Department said on Wednesday, saying it would damage prospects for a two-state solution.
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Ma'adenSaudi’s Ma’aden starts commercial output at alumina refinery
Production will reach maximum annual capacity of 1.8 million tonnes of alumina by early 2017, meeting Ma'aden's domestic requirement of 1.4 million tonnes for its smelter and allowing the surplus to be sold elsewhere in the region and internationally, the company said.
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Civil Service PaySaudi abandons Islamic calendar as part of cost-cutting measures
The change, approved by cabinet last week, brings civil service pay in line with the government's January-December fiscal year, the Arab News and Saudi Gazette reported.
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