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Recent stories from sustg
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Saudi Arabia Taps Foreign Reserves to Weather Coronavirus Crisis
- April 29,2020
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- SUSTG Team
Saudi Arabia’s central bank foreign reserves fell in March at their fastest rate in at least 20 years and to their lowest since 2011, Reuters reports, as the Kingdom draws down on reserves to weather the Coronavirus crisis and keep citizens and residents safe.
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Saudi Arabia’s PIF Eyes Bargain Stakes in Blue Chip Companies Likely to Rebound – Report
- April 16,2020
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- SUSTG Team
A “shopping list is being readied” for potential investments by Saudi Arabia’s Public Investment Fund in healthcare, technology, and logistics companies around the world as the coronavirus pandemic creates potential opportunities for bargain investments, according to a Financial Times report.
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Saudi Arabia to Spend $4 Billion in Fight Against Coronavirus
- April 8,2020
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- SUSTG Team
Saudi Arabia will increase its spending to fight the spread of the coronavirus in the Kingdom, earmarking an additional 7 billion riyals (USD 1.8 billion) yesterday on top of the 8 billion riyals (USD 2.1 billion) earmarked at the beginning of the virus outbreak, according to Asharq Alawsat.
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Saudi Arabia Approves Government Asset Privatization on Local Stock Market
- April 1,2020
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- SUSTG Team
Saudi Arabia’s government approved the listing of government assets planned for privatization on its stock market, according to reports.
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G20 Finance Chiefs, Central Bankers Hold Digital Meeting for Second Time in a Week to Discuss Coronavirus Response
- March 31,2020
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- SUSTG Team
Finance ministers and central bankers from the Group of 20 major economies met by videoconference on Tuesday, the second such meeting in a week, to discuss a global response to the spread of the coronavirus the its impact on economy, Reuters reports.
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Saudi Arabia Enacts Curfew as Kingdom Seeks to Best COVID-19
- March 23,2020
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- SUSTG Team
Saudi Arabia has enacted a curfew to stop the spread of COVID-19 within the Kingdom’s borders, prohibiting citizens and residents from being outside the home at night for three weeks starting Monday.
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Saudi Arabia Widens Travel Ban; Coronavirus Cases Increase
- March 12,2020
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- SUSTG Team
Saudi Arabia has extended flight bans to the European Union and other countries as the Kingdom announced 24 new cases overnight, bringing its total to 45.
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Saudi Arabia launches Y20 summit as a Platform Connecting Youths with G20 leaders
- March 2,2020
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- SUSTG Team
Saudi Arabia launched the Y20 (Youth 20) summit on Sunday evening, a platform which seeks to bring youth voices to international decision-makers.
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Report: Saudi Arabia Pushing for a ‘Major, Short-Term Oil Production Cut’
- February 3,2020
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- SUSTG Team
OPEC and its allies are “considering cutting their oil output by a further 500,000 barrels per day (bpd)” with eyes on mitigating the impact on oil demand from the coronavirus, Reuters and the WSJ report.
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Oil Demand Growth Forecasted to Trend Higher in 2020
- January 21,2020
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- SUSTG Team
Oil demand growth is set to trend higher this year compared with 2019, a recent report from Jadwa Investment finds, citing OPEC forecasts and other global economic factors.
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MUST-READS
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Secretary Pompeo to Launch U.S.-Saudi Arabia Strategic Dialogue
Secretary Michael R. Pompeo will welcome Saudi Arabian Foreign Minister His Highness Prince Faisal bin Farhan Al Saud to Washington, D.C. on Wednesday, October 14 for the inaugural U.S.-Saudi Strategic Dialogue. The dialogue will focus on our shared commitments to the furthering of regional security and prosperity, economic development, and the people-to-people exchanges that have underpinned our bilateral relationship since the seminal meeting between President Roosevelt and King Abdulaziz aboard the USS Quincy 75 years ago.
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Perspective: Middle East Absent from the U.S. Election
Tellingly, prominent Washington D.C. research institutes (‘think tanks’) that focus on the region have not, as they often have during past election seasons, produced reports containing sweeping recommendations for a comprehensive U.S. ‘strategy’ in the Middle East.
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Israel would oppose any U.S. F-35 sale to Qatar, Israeli minister says
Intelligence Minister Eli Cohen made the comments in response to a Reuters report that Qatar - whose Iran links trouble Israel - had submitted a formal request to Washington to buy the Lockheed Martin Corp. LMT.N stealth jet.
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Kataib Hezbollah Iran-backed militias offer ‘conditional’ cease-fire against U.S. in Iraq
The militias have plagued U.S.-linked diplomatic and military targets for months, firing rockets at embassies and bases and targeting Iraqis who drive logistics convoys serving the U.S.-led coalition.
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U.S. Issues Additional Sanctions Against Iranian Banks
The Trump administration on Thursday imposed a new round of economic sanctions against Iran’s financial sector, as Washington seeks to increase pressure on Tehran in the weeks leading up to the presidential election. The measure imposes penalties against 18 Iranian banks and comes days before a United Nations arms embargo on the country is set to expire. The action could effectively lock Iran out of the global financial system, further cratering its already collapsing economy.
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SAIC Wins $49.5 Million U.S. Navy contract for Royal Saudi Naval Forces (RSNF) C4ISR Upgrades and Refurbishment
The U.S. Navy awarded Science Applications International Corp. (NYSE: SAIC) a $49.5 million single-award task order to continue to provide the Royal Saudi Naval Forces support services for command, control, communications, computers, and intelligence, surveillance and reconnaissance (C4ISR) upgrade and refurbishment. Work will take place in the Kingdom of Saudi Arabia.
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Kuwait’s new emir meets senior U.S. and Iranian officials
Kuwait’s new Emir Sheikh Nawaf al-Ahmad al-Sabah on Sunday met senior U.S., Iranian and Gulf officials who separately paid their respects over the death of the Gulf Arab state’s former ruler.
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U.S. Boosts Crude Sales to China, Forcing Saudis to Find Other Markets
The U.S. is quickly ramping up oil sales to China, the world’s biggest importer, forcing traditional suppliers in the Mideast to look for new markets or hold on to their crude in an already oversupplied world. The U.S. accounted for 7% of Chinese crude imports through mid-September, according to London-based market intelligence firm Vortexa Ltd—up from 0.4% in January. Meanwhile, market share for Saudi Arabia, China’s biggest traditional supplier, fell to 15% from 19% in the same period. Based on recent tanker data, U.S. exports to China are expected to reach as much as 700,000 barrels a day at the end of October, forecasts Virginie Bahnik, a senior analyst at Geneva-based Petro-Logistics SA.
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U.S. blacklists more Syrians in fresh push for Assad to end war
The United States on Wednesday blacklisted what it called “key enablers” of Syrian President Bashar al-Assad’s government, reinforcing efforts to push Damascus back to United Nations-led negotiations to end Syria’s nearly decade-long civil war.
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Factbox: How a Biden presidency would transform the U.S. energy landscape
Should Joe Biden win November’s U.S. presidential election, there could be a number of changes in energy policy.
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