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After Summit Agreement, Saudi Arabia’s Crown Prince Extends Saudi Hospitality to Visiting Qatari Emir
- January 6,2021
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- SUSTG Team
This week, Saudi Arabia and other GCC nations buried the hatchet with neighboring Qatar after a diplomatic standoff that lasted over three years. The two sides, working toward a fresh start in recent weeks, finalized the end of the feud at Tuesday’s 42nd GCC Summit in Saudi Arabia, reuniting to once again reinvigorate trade between […]
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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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Positive Economic Data Seen in Latest Saudi Chartbook for January 2021 – Jadwa Investment
- January 4,2021
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- SUSTG Team
A more optimistic Saudi private sector reacting to the start of the vaccine rollout in the Kingdom is is being credited for positive data seen for Saudi Arabia’s economy, Jadwa Investment says in its latest Charbook for the month of January 2021. Saudi Arabia’s non-oil PMI saw a significant monthly rise in November, the latest data available and reported […]
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Saudi-led Coalition Strikes Targets in Yemen after Aden Airport Attacked
- December 31,2020
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- SUSTG Team
Saudi-led coalition warplanes struck targets in Yemen’s Houthi-held capital Sanaa on Thursday in retaliation for attacks in the southern port city of Aden the previous day, including at the airport which killed at least 25, according to reports. The attacks at the Aden airport on Wednesday took place as officials in a government backed by […]
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Trump Administration Approves Nearly $300 Million in Bomb Sales to Saudi Arabia
- December 30,2020
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- SUSTG Team
The Trump Administration’s State Department has approved a possible the sale of nearly $300 million in GBU-39 Small Diameter Bomb I (SDB I) Munitions and related equipment to Saudi Arabia, the latest large U.S.-Saudi security deal to be approved in recent years. The principal contractor will be U.S.-based Boeing, St. Louis, MO.
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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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October Data: Saudi Oil Exports Drop $5 Billion, Down Nearly One Third
- December 24,2020
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- SUSTG Team
Saudi Arabia’s oil exports in the month of October fell by 18.9 billion riyals ($5.04 billion), down by nearly a third, while non-oil exports fell by 0.3%, according to data obtained by Reuters.
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More Golf Stars Join List of Committed Players for Saudi International in February
- December 23,2020
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- SUSTG Team
More international golf stars have joined the growing list of players who have committed to playing in the Saudi International at Royal Greens Golf & Country Club, beginning February 4th 2021. Norwegian youngster Viktor Hovland and American Ryder Cup star Tony Finau are the latest top international stars to confirm their entry for the third edition […]
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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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Saudi Arabia Joins Dozens of Nations in Blocking International Travel as Mutant Coronavirus Strain Alarms Authorities
- December 21,2020
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- SUSTG Team
Saudi Arabia suspended late on Sunday all international commercial flights for a renewable week except for the foreign flights already in the kingdom which will be allowed to leave, according to reports. The variant, detected in England, is up to 70 percent more transmissible than earlier versions, officials said. People in southeast England, where the […]
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MUST-READS
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Countering Extremism: Social MediaState Department trolls Islamic State militants on Twitter
The Twitter account “State of Islam” using the handle @Dawla_accountt tweeted to its 1,226 followers Monday night: “#IslamicState is the SOLE SAVIOUR of millions of Sunni muslims against Iraqi-Syria Army butchers,” with an attachment to three propaganda photos claiming to show brutality against Sunnis. About 16 hours later, a team at the State Department responded directly to the tweet.
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U.S. State DepartmentObama Taps Senior Aide for No. 2 State Department Job
After months of intense debate between the White House and the State Department, President Barack Obama nominated Deputy National Security Advisor Tony Blinken for the position of deputy secretary of State, the No. 2 job in Foggy Bottom on Friday. The president came to that view despite the opinion of Secretary of State John Kerry, who advocated for Wendy Sherman, the under secretary of state for political affairs and chief U.S. negotiator on the Iran nuclear talks.
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'Little Sparta'In the UAE, the United States has a quiet, potent ally nicknamed ‘Little Sparta’
The American presence at Al-Dhafra, which the Pentagon has not publicly acknowledged, is a vital part of the U.S.-led campaign against Islamic State militants: The base’s twin runways have launched more strike aircraft — including the Air Force’s most-sophisticated warplane, the F-22 Raptor — than any other military facility in the region.
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InvestmentWhy Foreign investment is elusive for MENA startups
But why can’t they raise funds while remaining in the Middle East? “In the hierarchy of Silicon Valley venture firms,” says Nasr, “the focus is generally on the Bay Area first, California second, and the rest of the US after that. Most US VCs don’t have a presence or much awareness outside North America. When you’re investing, one of the most important things is the market; so other than very big markets such as China, India or Brazil, there is not much interest or appetite.”
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MENA StartupsWhat do investors in the MENA want from startups?
While most of the funders surveyed currently have a presence in either Jordan, the UAE, or Lebanon, 83% plan to expand and increase their activity in the next two years, and most of them are seeking to become more involved in Saudi Arabia and the UAE. While challenges in obtaining investment differ from one market to the other, there are some similarities across the region. Thirty-six percent of entrepreneurs surveyed said that the supply of venture funding in their countries was small, and 24% thought that investors are not offering enough value beyond cash.
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Mobile GamingPlayPhone partners with Saudi Arabian mobile carrier to take games to the Middle East
Mobily is the leading mobile carrier in Saudi Arabia, and it has more than 200 million mobile subscribers. Mobily will call its store PlayZone, and it will make it available in the Middle East and North Africa, starting with Saudi Arabia and the United Arab Emirates. More countries will roll out in the future.
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MediaMisstated Excerpt of Times Article Offers Fresh Take on President Sisi of Egypt
There is no such thing as bad press for President Abdel Fattah el-Sisi, at least not if it is translated by the Egyptian news media.
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YemenHouthi rebels sign deal with Yemen parties to form new government
The accord aims to address a decade-old Shi'ite Houthi insurgency and a spate of bloodshed this month that posed a major threat to U.N.-backed efforts to stabilise the country, which neighbours oil giant Saudi Arabia and has also struggled to contain al Qaeda militants and southern secessionists.
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Ma'adenSaudi Ma’aden, Alcoa start commercial ops at huge aluminium plant
Saudi Arabian Mining Co (Ma'aden) said on Monday its joint aluminium smelter with U.S.-based Alcoa has started commercial operations. The $10.8 billion aluminium plant at Ras al-Khair, on the Gulf coast of the kingdom, had experienced issues during the initial start-up phase last year when it had to shut one of its two smelting lines in October due to problems encountered during ramp-up.
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Solar PowerSolar Power Investors Start to See Some Light and Heat
Prices have stabilized as growth in demand for panels is finally outpacing capacity expansion. This benefits manufacturers. Most top-tier suppliers of solar modules reported profit margins that topped 15% in the first quarter, up from 10% toward the end of 2013, according to Matthew Feinstein of Lux Research.
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