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As Saudi Non-Oil Revenue Soars, Uncertainty Looms Over Oil Market
- October 30,2020
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- SUSTG Team
Saudi Arabia saw a significant boost in non-oil revenue in the third quarter of this year, with an increase of 63% year-on-year to SR123 billion ($32.8 billion), new data shows, an encouraging trend for policymakers as the market for oil continues on an uncertain path in the face of a global pandemic and global economic slowdown.
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Images: Architect Jean Nouvel Reveals Design for Sharaan Resort in Al-Ula, Saudi Arabia
- October 28,2020
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- SUSTG Team
French architect Jean Nouvel unveiled his design for Sharaan, a new resort hidden within the rock dwellings of Al-Ula, a cultural oasis in north-west Saudi Arabia.
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Top Names in Golf Commit to Saudi International Tournament in February
- October 27,2020
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- SUSTG Team
Saudi Arabia’s annual golf tournament secured two of the sports top names to compete in February, winning commitments from the world’s top-ranked golfer and the latest major championship winner on Monday to play in the Saudi International. Dustin Johnson, the world’s number one golfer, and Bryson DeChambeau, who won the U.S. Open by six strokes in […]
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Arab News Launches ‘Research and Studies’ Unit to Deliver ‘Thought-Provoking Studies by Experts on Regional Affairs’
- October 13,2020
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- SUSTG Team
Arab News, Saudi Arabia’s leading English-language daily news publication, has announced the establishment of a new Research and Studies Unit (RSU) which will “deliver thought-provoking studies written by a team of acclaimed resident and non-resident experts on a number of regional affairs,” according to a press release from the company.
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U.S. Again Tops Arms Exporters to the Middle East, Saudi Arabia, Report Says
- September 25,2020
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- SUSTG Team
A newly released report by the Center for International Policy finds the U.S. dominated arms and defense exports to the Middle East region between 2015-2019, accounting for nearly half of all deliveries of major weapons systems.
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G20 Trade and Investment Ministers Meet as Kingdom Reportedly Suggests Delay Main Summit until December
- September 22,2020
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- SUSTG Team
Trade and Investment Ministers from the G20 held a meeting today under the Saudi G20 Presidency to strengthen trade and investment policy cooperation towards an inclusive and sustainable economic growth amid the COVID-19 pandemic.
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Saudi Arabia’s Oil Exports to the U.S. Hit 35-Year Lows as Goldman Sees Oil at $65 Next Year
- September 2,2020
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- SUSTG Team
Saudi Arabia’s oil exports to the United States fell nearly 50% year-on-year in August 2020, reaching a 35-year low in oil imported from the Kingdom, according to CNN which cited info from ClipperData.
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Brent Oil Reaches 5 Month High as Saudi Aramco Announces Discovery of Two New Oil and Gas Fields
- August 31,2020
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- SUSTG Team
The price of oil on the UK’s Brent Oil index reached a 5-month high on Monday as supply output cuts continue to push the price of oil higher, according to reports.
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PIF Sets Up New Real Estate Subsidiary to Help Meet Increasing Local Demand for Housing
- August 20,2020
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) said it had set up a new real estate subsidiary, called “Roshn,” to help meet increasing local demand for housing, according to reports.
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Saudi Mega-city NEOM Signs Agreement with US-based Bechtel for Executive Project Management Work
- August 12,2020
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- SUSTG Team
Saudi Arabia’s futuristic mega-city NEOM has awarded a contract to U.S.-based Bechtel for executive project management work on the development of the primary, base infrastructure for NEOM, according to a press release issued by NEOM.
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MUST-READS
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Saudi Arabia’s leaders congratulate Biden, saying they want to deepen relations with the U.S.
It remained unclear how that rhetoric would translate into policy, but the Saudi leadership considers the United States its most important ally and clearly wants warm ties with its new president. The cables, reported late Sunday by the Saudi press agency, congratulated Mr. Biden on his victory, spoke of strong relations between the two countries and the Saudis’ desire to deepen them.
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Oil Drops Below $38 on Surging Virus, Close U.S. Vote Count
Oil fell a second day, dropping below $38 a barrel in New York, as a surging coronavirus and uncertain U.S. elections weighed on sentiment. Futures dropped 2.2%, with equity markets also lower as investors took risk off the market. Joe Biden appeared to be on the brink of victory in the presidential race -- amid increasing numbers of legal complaints from incumbent Donald Trump -- but he may have to deal with a split Congress. Mounting coronavirus cases, with America becoming the first country to top 100,000 cases in a day, are also dragging oil lower.
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Perspective: What the F-35 Deal Says About U.S.-UAE Relations
From the perspective of the United States, however, the timing makes a lot of sense. Defense companies need to secure deals and appease their shareholders in the context of a global economic slowdown that is likely to take a high toll on the industry over the next five years. The road ahead appeared particularly rocky for Lockheed Martin, which has faced repeated criticism over the F-35 program and had to slow down deliveries in 2020 as the pandemic disrupted its supply chain.
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U.S. undertook cyber operation against Iran as part of effort to secure the 2020 election
The move against Iranian hackers working for the Islamic Revolutionary Guard Corps came shortly after they launched an operation two weeks ago posing as a far-right group to send threatening emails to American voters and also posted a video aimed at driving down confidence in the voting process, said the officials, who spoke on the condition of anonymity because of the operation’s sensitivity.
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China Guzzles Saudi Arabian Oil While Riyadh Keeps U.S. Flow Low
Last month, the kingdom directed at least 1.8 million barrels a day of crude oil to China, the highest deliveries since a surge in buying back in April and May when prices crashed, tanker-tracking compiled by Bloomberg shows. Meanwhile, daily exports to the U.S. slumped to a paltry 97,000 barrels.
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What the U.S. Election Means for Global Climate Action
In June 2017, when President Donald Trump announced his intention to withdraw the U.S. from the Paris climate agreement, many worried other countries would follow suit. Those fears haven’t come to pass, even as the U.S. officially exits the accord on Nov. 4 — the day after the presidential election.
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Israeli minister says normalisation deals need U.S. president tough on Iran
Saudi Arabia and Qatar are among countries slated to establish relations with Israel under a regional rapprochement launched by U.S. President Donald Trump, an Israeli official said on Monday. Straying from Israel’s reticence about Tuesday’s U.S. election, Intelligence Minister Eli Cohen said implementing further normalisation deals could depend on the next president displaying continued “resolve” against Iran.
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Arrested, Tortured, Imprisoned: The U.S. Contractors Abandoned in Kuwait
It’s clear that some of the accused, though not all of them, were not guilty of the charges against them. But regardless, the United States has some basic responsibilities to the welfare of all its citizens imprisoned overseas. And frequently, especially under this administration, it goes above and beyond those obligations. Acosta and the others believe there is a simple reason that their predicament has been overlooked: race. All but three of these contractors are Black; not one of them is white.
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Iran brands U.S. ‘pirates’ over seized Venezuela-bound oil
Iran accused the United States on Friday of acting like the “Pirates of the Caribbean” after Washington said it had sold off Iranian crude oil shipments that it seized on their way to Venezuela. Washington said on Thursday it had sold 1.1 million barrels of previously seized Iranian oil that was bound for Venezuela, in the Trump administration’s latest move to increase pressure on Tehran less than a week before the Nov. 3 U.S. presidential election.
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Top U.S. officials were briefed on an active threat against Pentagon leaders, say five officials
U.S. military, intelligence and law enforcement officials were briefed late last month on a threat against the Pentagon's most senior leaders while they are on American soil, not just traveling overseas, according to five senior U.S. officials with direct knowledge of the matter.
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