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BofA Revises Upward 2021 Brent Oil Price by $10 a Barrel – Report
- February 23,2021
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- SUSTG Team
Bank of America (BofA) Global Research has hiked its forecast for Brent crude oil prices for this year, citing tighter supplies due to the Texas freeze and OPEC+ output curbs and unmatched global monetary stimulus, Reuters reports, citing a research note from the bank.
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Saudi Arabia’s PIF Significantly Increases Investments in U.S. Markets, Wins Big on Live Nation
- February 22,2021
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) significantly increased its holdings and investments into U.S. companies in the fourth quarter (Q4) of last year, public filings made public last week show, after slashing its exposure in Q3. The PIF’s total investments in the U.S. market reached $12.8 billion in the fourth quarter last year, up from $7 billion […]
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Secretary of Defense Lloyd J. Austin III, Crown Prince Mohammed bin Salman Speak by Phone
- February 19,2021
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- SUSTG Team
On February 18, Secretary of Defense Lloyd J. Austin III spoke by phone with Crown Prince and Minister of Defense Mohammed bin Salman to “reaffirm the strategic defense partnership between the United States and the Kingdom of Saudi Arabia,” the Pentagon said in a readout of the call.
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U.S. Treasury Secretary Janet Yellen, Saudi Finance Minister Mohammed Al-Jadaan Speak by Phone to Discuss Coronavirus, Economic Recovery
- February 18,2021
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- SUSTG Team
U.S. Treasury Secretary Janet Yellen and Saudi Finance Minister Mohammed Al-Jadaan discussed the coronavirus pandemic and other issues during a call on Wednesday, the U.S. Treasury Department said. The call is the first between the two finance chiefs after Yellen’s approval as President Joe Biden’s Secretary of the U.S. Treasury.
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After Steady Rise in Oil Prices, Saudi Arabia Plans Production Increase – Report
- February 17,2021
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- SUSTG Team
Saudi Arabia, the world’s largest oil producer, plans to increase oil output in the coming months as a nearly year-long recovery in oil prices is giving the Kingdom confidence that the market has improved enough to reverse a recent big production cut, the Wall Street Journal reports.
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Saudi Arabia to End Contracts with Foreign Companies Without a Regional HQ in the Kingdom After 2023
- February 16,2021
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- SUSTG Team
Saudi Arabia announced on Monday that it will stop signing contracts with foreign companies from 2024 unless their regional headquarters are based in the Kingdom, part of a push to give more of the Kingdom’s economic opportunities to countries that will hire local talent and compete with neighboring cities in other Gulf nations.
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Saudi Arabia Fends Off Houthi Attacks on Civilian Targets, Will Continue to Treat Houthis ‘As a Terrorist Organization’
- February 15,2021
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- SUSTG Team
Yemen’s Houthi group said on Monday it had struck Saudi Arabia’s Abha and Jeddah airports with drones, knocking operations offline at the two international airports for two hours in a continuation of seemingly relentless attacks aimed at civilians. The Houthis confirmed the attacks on their Twitter account, according to Reuters. There was no Saudi confirmation […]
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Dazzling Designs Revealed for a ‘Coral Bloom’ Concept at Saudi Arabia’s Red Sea Project’s Main Hub Island at Shurayrah
- February 12,2021
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- SUSTG Team
Saudi Arabia this week unveiled a new, visionary design and plans for the Red Sea project’s main hub island at Shurayrah, a “Coral Bloom” concept created by world-renowned architecture firm Foster + Partners.
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U.S. Secretary of State Blinken, Saudi FM Discuss Yemen Cooperation by Phone; State Department Condemns Houthi Attacks
- February 11,2021
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- SUSTG Team
U.S. Secretary of State Antony Blinken discussed diplomatic efforts to end the war in Yemen and bolstering Saudi Arabia’s defenses in a call with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud on Wednesday, the U.S. State Department said.
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Saudi Research and Marketing Group Hires Two Goldman Bankers as Execs, Looks to Expand
- February 10,2021
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- SUSTG Team
Saudi media powerhouse Saudi Research & Marketing Group (SRMG) hired two bankers from Goldman Sachs Group Inc. in the Gulf in a bid to to bolster its regional and global presence, according to a report in Bloomberg.
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MUST-READS
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Davos 2023: Saudi-US partnership is crucial for global security, says Saudi envoy
"Yes there was a moment of conflict and disagreement, but that doesn't take away from the fact that we are both strategic allies and we are friends, and this relationship is critical for the world," envoy Princess Reema bint Bandar Al Saud said at a panel at the World Economic Forum in Davos.
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Borderless partnerships critical for energy transition in Middle East
Energy investments in the Middle East and North Africa have been rising - they are projected to grow nine percent in the next five years to more than $879 billion. About 98 GW of new renewables capacity is planned across the region, with 39 GW due to come on stream by 2025.
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Saudi Ports Authority partners with Marasi to establish Seafarers Club
The Saudi Ports Authority, also known as Mawani, has signed a deal with Marasi Marine Services Co. to establish Seafarers Club at Jeddah Islamic Port, King Abdulaziz Port in Dammam and Ras Tanura Port. According to a Saudi Press Agency report, the Seafarers Club will be established to provide housing and entertainment services to local and international ship crews and international shipping lines. This will improve port facilities in the Kingdom, in line with the goals outlined in Vision 2030.
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Saudi Culinary Arts Commission begins search for country’s most important dishes
The Saudi Culinary Arts Commission has announced the ‘National & Regional Dishes Narratives’ initiative – a national initiative which seeks to identify and celebrate local dishes in Saudi culture across various regions in the Kingdom. In addition to identifying a national dish, the initiative will also include a study of the dishes that best represent each region of the kingdom to be selected and announced later this year. As part of the announcement, the commission has chosen ‘Jareesh’ as the national dish of the Kingdom of Saudi Arabia, and ‘Maqshush’ as the Saudi national dessert.
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Tales of the Bedouin – Part XXVI: The Remarkable Life of Bdah Al Hajri– Part 5, Finale
In this series, Mark Lowey, known as “Abu Jack” (Father of Jack) to his Saudi friends, tells the story of Bdah Al Hajri, whom he first encountered in the desert as an infant in 1979. Reunited in 2013, Abu Jack and Bdah have become close friends.
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Kevin Hart on the hunt for Yas Island ambassador with $100,000 salary
Once hired, the ambassador will take part in a variety of tourism activities for Yas Island, after arriving in Abu Dhabi in business class. The ambassador will then be provided accommodation on the island’s Fabulous Suite of W for 60 days. The winner will get to experience karting sessions on the Formula 1 track, as well as indoor climbing and skydiving at Clymb.
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The Social Dialogue Forum: Bringing together the Saudi labor market’s related parties
The Social Dialogue Forum shed light on the opportunities and challenges found in the labor market, through (3) main topics which included "The Impact of Training and Qualification Programs in Developing the Skills of National Cadres", "Business Models and Their Role in Developing the Work Environment", and "Protecting Wages and Documenting Contracts". (6) important initiatives fall under these topics, characterized by a specific mechanism for their implementation under the umbrella of concerted national efforts.
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Chart: Fragile Democracy
The share of the world living in either an electoral or liberal democracy was at its highest in the year 2000 when the figure was at 54 percent. As our infographic illustrates, this took a steep dive in 2019, dropping from 50 percent down to just 32. While the fragility of democracy is also plain to see elsewhere in the chart, this is the most dramatic example over the assessed period.
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Saudi Arabia issues mandate to display works by kingdom’s artists in hotels
"It is very exciting as the Saudi art world has been making great strides locally and internationally. Like any other society, artists need stronger markets to support and encourage their art. "This decision also goes hand in hand with Vision 2030 as it supports diversifying the economy and increasing local content. "Hotels are one of the first stops that any tourist makes and for them to be showcasing Saudi art shows pride in local culture and enriches tourists' journey and understanding of our culture."
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Saudi Database to Boost Women Participation in Economic Sectors
It will do so by building a database for directing invitations to enable women to enter appropriate projects. At the Council of Saudi Chambers, a Women Empowerment Coordination Council (WECC) was established in accordance with a Cabinet decision. The decision stipulated the formation of a women’s committee with experience and competence to coordinate with the relevant authorities to encourage private sector establishments to find activities and fields of work for Saudi women.
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