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Saudi Arabia to Issue First Individual Tourist Visas in 2018, Prince Sultan bin Salman Says
- November 28,2017
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- SUSTG Team
Saudi Arabia plans to issue its first individual tourist visas next year as the Kingdom looks to expand tourism and leisure as part of its ambitious Vision 2030 economic and social reform plans. The confirmation came through comments made by Prince Sultan bin Salman, head of the Saudi tourism and national heritage commission, to CNNMoney’s Richard Quest. Visas […]
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With Regional Turmoil and Domestic Changes, Resolution of Qatar Crisis Slips in Priority for Saudi Arabia
- November 20,2017
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- SUSTG Team
The emergence of new foreign policy and domestic challenges for Saudi Arabia in recent weeks have taken precedent over resolving the Arab-led embargo of Qatar, according to Saudi Arabia’s leaders, as the United States reportedly has stepped in to support the Kingdom now elsewhere in the region. Exactly one month ago, Secretary of State Rex […]
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Media Conglomerate Saudi Research and Marketing Group Acquires Stake in Argaam Financial News Service
- October 18,2017
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- SUSTG Team
The Saudi Research and Marketing Group (SRMG) has acquired a controlling stake in the Argaam Investment and Trading Company, which publishes an online financial news service Argaam.com, according to reports. SRMG Chairman Prince Badr bin Abdullah Al-Saud said the acquisition “will help pave the way to a “brighter future” for the digital content industry in […]
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New Archeological Discoveries in Tabuk, Saudi Arabia Date Back to Stone Age
- October 13,2017
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- SUSTG Team
New rock and animal drawings and other archeological discoveries were unearthed in the Tabuk region of Saudi Arabia by experts from France and the Kingdom, according to reports. Operating under the supervision of the Saudi Commission for Tourism and National Heritage (SCTH), teams discovered a large number of tools, engravings and architectural units in three […]
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Saudi Arabia to Award Nuclear Reactor Contract by End of 2018; U.S. Set to Miss Out
- October 12,2017
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- SUSTG Team
Saudi Arabia plans to award a construction contract for its first nuclear reactors by the end of 2018, a senior government official said on Tuesday as reported in Reuters. “With sponsorship from the highest levels in the state, the contract will be signed by the end of 2018,” Maher al Odan, the chief atomic energy […]
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U.S. Approves Possible Sale of THAAD Missile Defense System to Saudi Arabia with Massive $15b Price Tag
- October 9,2017
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- SUSTG Team
The United States has given preliminary approval for the sale of a Terminal High Altitude Area Defense (THAAD) missile defense system to Saudi Arabia with a price tag of $15 billion, according to reports and a statement by the U.S. Defense Security Cooperation Agency (DSCA). The announcement, made on the heels of Saudi Arabia’s King Salman […]
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Saudi-Russia Ties Strengthen as King Salman Visits around Russia Energy Week
- October 4,2017
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- Lucien Zeigler
Saudi-Russia ties continue to warm ahead of King Salman’s visit as the Kingdom looks to expand bi-lateral investment opportunities, according to reports. Saudi Arabia and Russia are the two biggest energy players, producing almost a quarter of the world’s oil between them. As the de facto leader of OPEC, Saudi Arabia has forged a working […]
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Saudi Arabia to Get New Bankruptcy Law Next Year, Al-Qassabi Says
- September 22,2017
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- SUSTG Team
Saudi Arabia will begin implementing a new bankruptcy law early next year as part of efforts to attract foreign investment and encourage private sector activity, Reuters reports, citing Saudi-owned broadcaster Al Arabiya which aired comments from Minister of Commerce and Investment Dr. Majed Al-Qassabi. “(The) bankruptcy law has been passed to the Shura Council and […]
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Saudi Arabia’s ‘Longest Railway’ to Come Online in December
- September 15,2017
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- SUSTG Team
Saudi Arabia’s “longest railway” running over 1700 miles between capital Riyadh and the northern city of Gurayat will kick-start operations on December 24, 2017. Considered to be one of the world’s longest railway lines, the line will pass through Majmaa, Qassim, Hail, and the Al-Jouf regions of the Kingdom. Six railway stations are in the pipeline along the […]
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‘NTP 2.0’: FT Obtains Copy of Draft of Changes to Saudi National Transformation Plan
- September 7,2017
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- SUSTG Team
The London-based Financial Times has obtained an internal copy of a document that outlines Saudi Arabia’s desire to amend the Kingdom’s National Transformation Plan (NTP), dubbed “NTP 2.0.” The draft document “strips out some areas earmarked for change and extend[s] the timeline of other targets” of the NTP. The changes will keep the deadline of 2020 generally, […]
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MUST-READS
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Economic ConfidenceUAE, Saudi firms willing to loosen purse strings to expand
Middle East businesses are confident in the economic growth prospects for the year ahead and executives are willing to invest further in their businesses, according to the 2018 Global Business & Spending Outlook, a survey released today by American Express Middle East.
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UAE in SpaceFirst UAE astronaut heading to International Space Station in 2019
The United Arab Emirates has announced it will send an astronaut to the International Space Station (ISS) next year, becoming the latest nation to launch a citizen beyond Earth.
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War in YemenUAE’s campaign for Yemen port city a test of ‘Little Sparta’
"From our perspective, three years of war is enough. It is time for the political process," Emirati Minister of State for Foreign Affairs Anwar Gargash told journalists at a news conference Monday. "If the Houthis don't want to start the political process, we will force them to start the political process."
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War in YemenSaudi Arabia and UAE announce five-point plan for relief in Yemen’s Hodeidah
As part of the plan, the two coalition states aim to establish a shipping lane to Hodeidah from the UAE capital, Abu Dhabi, and Jizan, a city in southern Saudi Arabia, officials told a news conference in Riyadh.
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Qatar DisputeQatar says it is taking UAE to International Court of Justice
Qatar said it has filed a case against the United Arab Emirates at the International Court of Justice over alleged human rights violations, deepening a regional dispute a year after the UAE joined three other states in launching an embargo on their Gulf neighbour.
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Jordan AidUAE, Saudi Arabia and Kuwait agree $2.5bn aid package for Jordan
A $2.5 billion aid package for Jordan has been agreed by the UAE, Saudi Arabia and Kuwait at a summit in Makkah.
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Saudi-UAESaudi, UAE put economy at heart of alliance with joint investment plans
Saudi Arabia and the United Arab Emirates put jobs and investment at the center of their diplomatic alliance, saying on Thursday they would cooperate in areas ranging from energy and agriculture to tourism and financial services.
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Saudi-UAESaudi Arabia, UAE hold first meeting of 2-nation council
Saudi Arabia and the United Arab Emirates have held the first-ever meeting of their Saudi-Emirati Coordination Council, created amid a diplomatic dispute now affecting a wider regional bloc of Gulf Arab nations.
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TaxationUAE, Saudi Arabia sign double tax avoidance treaty
"The UAE and Saudi Arabia have signed an agreement to avoid double taxation on income and prevent tax evasion," the tweet said. "This agreement to avoid double taxation aims at strengthening cooperation frameworks in tax matters and consolidate financial, economic and investment relations between the UAE and Saudi Arabia."
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UAEUAE To Allow 100% Business Ownership For Companies As Part Of Changes To Visa System
The plan is expected to result in a clear boost for UAE’s emerging small businesses, as the country now has plans to allow for 100% business ownership of all enterprises in the country- an incentive previously only applicable for companies operating in the free zones
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