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Recent stories from sustg
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Latest Data: Improvements in Saudi Arabia’s Labor Market in Line with Pick-up in Overall Economic Activity
- February 3,2021
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- SUSTG Team
Unemployment in Saudi Arabia declined to 14.9 percent in Q3 2020, the latest date for which such data are available, down from 15.4 percent in Q2 2020, a recent report from the Riyadh-based Jadwa Investment finds, citing figures from the official General Authority for Statistics.
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List of World’s Top Golfers Competing at Third Saudi International Grows as Kevin Na Commits
- January 21,2021
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- SUSTG Team
The field of competitors for next month’s Saudi International powered by Softbank Investment Advisers is growing as another top golfer in the world has joined some of the sports biggest names confirmed to compete in Saudi Arabia. Five-time PGA Tour winner Kevin Na, who won the PGA Tour’s Sony Open in Hawaii on Sunday, is […]
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$5 Billion Hydrogen Project JV Planned for NEOM Hires Financial Advisor – Report
- January 13,2021
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- SUSTG Team
A three-organization joint venture hydrogen project between Air Products, NEOM, and ACWA Power has hired financial firm Lazard to advise on a planned $5 billion hydrogen project in the NEOM high-tech business zone in Saudi Arabia, according to a Reuters report, citing sources.
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Gulf Rift Ends after 42 Months; Qatari Emir Heads to GCC Summit as Skies, Borders Re-Open
- January 5,2021
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- SUSTG Team
Saudi Arabia and other GCC nations effectively ended their 42 month-long rift with neighboring Qatar on Monday, signaling a new era in Gulf political and economic relations and bringing to a close a long dispute begun in June 2017.
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Saudi Arabia’s PIF Makes Two Moves in Security, Defense Space
- December 29,2020
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) and its defense subsidiary SAMI announced separate moves in the defense and security space this week, according to reports. The PIF said Tuesday it had established a company to develop and expand the private security sector in the Kingdom, creating the National Security Services Co. (SAFE). SAFE will focus on […]
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Saudi Arabia’s Tourism Minister: Kingdom Needs to Inject $200 Billion into Industry — Report
- December 22,2020
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- SUSTG Team
Saudi Arabia’s tourism minister Ahmed Al-Khateeb dismissed naysayers of the Kingdom’s ambitious tourism plans, telling Arab News‘ Frank Kane in an exclusive interview that the Kingdom’s target of obtaining 100 million visits by 2030 is not overambitious with big investments in the industry.
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Houston-Based Baker Hughes, Saudi Aramco to Develop Oil, Gas Products Using Nonmetallic Resources
- December 9,2020
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- SUSTG Team
Saudi Aramco and Houston-based Baker Hughes have announced the formation of Novel, a 50/50 Joint Venture (JV) to develop and commercialize a broad range of non-metallic products for multiple applications in the energy sector, the companies said in a press release.
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Saudi Economy More Resilient than Expected in Q2, Q3 2020; Recovery Possible Next Year – Jadwa Investment
- November 27,2020
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- SUSTG Team
Saudi Arabia’s economy proved to be more resilient than expectations in the face of dual crises of the Coronavirus pandemic and a drop in oil prices in 2020, Jadwa Investment writes in an economic update.
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Road to the G20: Saudi Arabia Set to Host Main Leaders’ Summit this Weekend
- November 19,2020
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- SUSTG Team
Saudi Arabia is set to host the G20 Leaders Summit this weekend, the main event involving the heads of the 20 nations chaired virtually by the Kingdom due to the Coronavirus pandemic.
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Saudi Economy Contracts 4.2% in 3Q, Improves from 2Q; Fitch Affirms Credit Rating at ‘A’
- November 10,2020
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- SUSTG Team
Saudi Arabia’s economy shrank 4.2% in the third quarter from a year earlier, government data showed on Tuesday, but the contraction was smaller than the second quarter when the economy was reeling from coronavirus-linked lockdowns, Reuters reports. The economy expanded by 1.2% on a seasonally-adjusted quarter-on-quarter basis in the third quarter from a contraction of 4.9% […]
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MUST-READS
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Saudi Oil PolicySaudi crude oil stocks likely to draw down: Barclays
Saudi Arabia's domestic crude consumption is expected to pick up strongly going into the summer season, but with the kingdom intent on meeting global oil demand by keeping production high, it is likely to draw on its stocks at home and abroad, analysts at Barclays Capital said in a research note Monday.
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Commercial Aviation: Gulf AirlinesU.S.-Gulf Airline Feud Shadows Industry Amid 80% Surge in Profit
Global airlines buoyed by a record profit forecast are also grappling with how to mend a rift between the largest U.S. carriers and their rivals in the Persian Gulf.
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Iran NegotiationsU.N., Iran head for showdown over nuclear inspections
The chief U.N. nuclear inspector on Monday rejected a ban by Iran's supreme leader blocking U.N. experts from seeing Iranian military sites or meeting with Iranian atomic scientists, deepening a confrontation with Tehran over how much openness the country must accept under any nuclear deal.
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War in Yemen: Border ConflictSaudi Arabia Shoots Down Scud Missile Fired From Yemen
In a potentially major escalation of the months-long war, Yemeni rebels fired a Scud missile into Saudi Arabia early Saturday. The attack suggests that despite more than two months of airstrikes by a Saudi-led coalition, Yemen's Shiite rebels, known as Houthis, still have the military firepower to threaten cities inside Saudi Arabia.
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OmanIn the Shadow of Qaboos: Contemplating Leadership Change in Oman
On paper, the succession appears rather straightforward. But it has never been implemented previously, having been devised in 1996 and updated by Qaboos subsequently. The plan is based not only on the traditions of the ruling Al Busaidi family – in power now for nearly two-and-threequarter centuries – but also on Qaboos’ perceptions of what is needed to ensure smooth, efficient, and uncontentious successions and transitions.
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Saudi EconomyThe Cost of Oil’s Slump: Saudi Economy Shows Signs of Slowdown
Saudi Arabia’s oil-fueled economic boom is showing signs of losing steam. Official data released last week showed demand for loans growing at the slowest pace since 2011 and the kingdom’s currency reserves plunging for a third month in a row.
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TadawulSaudi Arabia Stocks flat, Egypt inches down
Stock markets in Saudi Arabia and Egypt moved very little in early trade on Wednesday, lacking strong catalysts.
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OilSaudi Arabia, Partners Turn Down Chinese Requests for Extra Oil
Saudi Arabia and its main Middle East OPEC partners are turning down Chinese requests for extra oil as they hold back fuel for their own refineries just as demand from the world's biggest crude importer hits new records.
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Saudi Oil PolicySaudi Arabia, partners turn down Chinese requests for extra oil
"Over the summer, Middle East producers, particularly Saudi Arabia and Abu Dhabi, will have limited additional barrels for sale as new refineries continue their ramp up and increased summer burn absorbs supply," said U.S.-based research and analysis provider Pira Energy.
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Anti-ISIS CampaignMeet the Shadow Warrior Leading the Fight Against the Islamic State
His advocates, of whom there are many in military circles, hope Nagata’s record of foresight will lend credibility to his message. “He called this,” said the special operations officer who attended the meeting in Tampa, one of more than a dozen current and former military officials interviewed for this article. “He was Nostradamus, man.”
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