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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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Oil Approaches Prices Not Seen Since Start of Pandemic as Optimism on Vaccines, U.S. Stimulus Drives Prices
- December 18,2020
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- SUSTG Team
Oil reached its highest close in almost 10 months as U.S. lawmakers worked toward finalizing a stimulus deal that may boost near-term demand ahead of a broad roll-out of the Covid-19 vaccine. Futures in New York were near $48.50, headed for a seventh weekly gain, Bloomberg reports.
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Saudi Arabia’s Economy Still Shrank in 3Q Despite Rebound Trend
- December 17,2020
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- SUSTG Team
Saudi Arabia’s economy shrank more slowly in the third quarter of this year as the government relaxed some measures put in place to curb the spread of the Coronavirus but the oil sector continued to weigh on the Kingdom’s overall economic outlook, according to reports.
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Saudi Arabia Unveils 2021 Fiscal Budget with Spending Reductions, Eying Economic Rebound
- December 16,2020
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- SUSTG Team
Saudi Arabia unveiled a new budget for the 2021 year, cutting spending to rein in a fiscal deficit brought on by a lower oil prices in 2020 and adjusting the Kingdom’s fiscal strategy to a post-Coronavirus pandemic era.
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Declaring Victory over Coronavirus, Saudi Authorities Announce Launch of Covid-19 Vaccination Program
- December 15,2020
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- SUSTG Team
Declaring victory over the coronavirus, Saudi Arabia announced the launch of its Covid-19 vaccination program, a week after approving Pfizer Inc. and BioNTech SE’s vaccine for its citizens. Saudi Arabia recorded only 139 new cases of infection on Sunday, the first time the figure has been under 150 since the pandemic began to take hold […]
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Saudi Arabia’s Air Force Receives Final F-15SA Fighter Aircraft in Deal Signed under Obama Administration
- December 14,2020
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- SUSTG Team
The Royal Saudi Air Force has received the last F-15SA advanced fighter aircraft from the United States as part of a massive $29bn foreign military sales (FMS) agreement agreed to with the Obama administration in 2010. An advanced version of the F-15S, the F-15SA is equipped with several capabilities to enable the Royal Saudi Air Force […]
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Princess Reema in Vogue Middle East: ‘Profound, Historic Changes’ for Women in Saudi Arabia
- December 11,2020
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- SUSTG Team
Saudi Arabia’s Ambassador to the United States Princess Reema bint Bandar penned an open letter for Vogue Middle East discussing the progress made and path forward for Saudi Arabia’s women, noting that women in the Kingdom are “cracking the glass ceiling.”
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MUST-READS
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Kingdom of Saudi Arabia – TOW 2A & TOW 2B Missiles
The State Department has made a determination approving a possible Foreign Military Sale to the Kingdom of Saudi Arabia of TOW 2A tube-launched, optically-tracked, wireless-guided, radio frequency missiles (BGM-71E-4B-RF), TOW 2B tube-launched, optically-tracked, wireless-guided, radio frequency missiles (BGM-71F-3-RF), and support and related elements of logistics and program support for an estimated cost of $440 million. The Defense Security Cooperation Agency delivered the required certification notifying Congress of this possible sale today.
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Women camel jockeys race in Saudi Arabia, breaking a social barrier
Welcome to the Crown Prince Camel Festival, an event that has been dubbed the Grand Prix of camel racing, where camels race some 250 laps for prizes worth US$13 million. This camel festival, held in honour of Saudi Arabia’s Crown Prince Mohammed bin Salman, is now in its sixth year and is on par with the richest horse races worldwide. It has come to be recognised as a serious international sport and a great tourist attraction in several Middle Eastern countries. This year, some 21,000 camels are taking part.
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Saudi Arabia to enforce USB Type-C charging ports for electronic devices from January 1
This decision introduced by the Communications, Space and Technology Commission (CST) and the Saudi Standards, Metrology and Quality Organization (SASO) aims to enhance the user experience in Saudi Arabia, reduce additional costs for consumers, and provide high-quality charging and data transfer technology while improving the quality of tech products.
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Saudi Arabia Megaproject Neom Says It Needs 20% of the World’s Steel
Manar Al Moneef, Neom's chief investment officer, spoke at the Global Logistics Forum in Riyadh on the weekend of October 13. According to the business news outlet Arabian Gulf Business Insight, she said, "Neom is going to be the largest customer [in logistics] over the next decade. If you look at our demand in logistics it's 5 percent of the global logistics market."
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Iran announces first joint military drills with Saudi Arabia in Red Sea
Iran has announced joint military drills with Saudi Arabia in the Red Sea, though the kingdom has yet to confirm. In a statement on Tuesday, the commander of Iran’s navy, Admiral Shahram Irani, said that they had been asked by Saudi Arabia to take part in the operations. “Saudi Arabia has asked that we organise joint exercises in the Red Sea,” he was quoted as saying by the Iranian news agency ISNA. “Coordination is underway and delegations from both countries will hold the necessary consultations on how to conduct the exercise." He did not give any details on a potential timescale.
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Al-Khorayef: Saudi Arabia to localize production of about 200 medicines
Minister of Industry and Mineral Resources Bandar Al-Khorayef confirmed that the ministry has identified approximately 200 medicines whose localization is a priority in Saudi Arabia due to their great importance in achieving drug security. Actual steps have begun to localize 42 of these medicines in coordination and integration with governmental and private entities. He also stressed that Saudi Arabia is moving forward to become a pivotal center for the pharmaceutical and vaccine industry in the region, through effective partnerships it has concluded with major global pharmaceutical companies. Al-Khorayef stressed the importance of unifying efforts and establishing a clear reference for localizing the pharmaceutical industry to attract qualitative investments to the sector, and accelerate the steps toward achieving the goals of Saudi Arabia’s Vision 2030 in the pharmaceutical sector.
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Saudi Arabia’s World Cup Stadiums Explained
The 2034 FIFA Men’s World Cup is coming to Saudi Arabia. The Kingdom, which has been rapidly expanding its infrastructure and pushing the boundaries of architectural innovation, will now build or renovate 15 stadiums across the country, marking a bold step in its bid to become a global sporting hub. The tournament will be hosted across 11 newly constructed venues, while four existing stadiums will undergo extensive renovations to meet FIFA’s rigorous standards.
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Saudi Arabia’s 2023 FDI data reflects success of Vision 2030: Al-Falih
“As a result of these positive shifts in FDIs, we expect to see more investors entering the Saudi market to take advantage of the country’s economic and investment strength, the stability of its policies, its long-term economic vision, and its solid financial and monetary fundamentals. Additionally, they will benefit from Saudi Arabia's strategic location, which serves as a gateway to growth opportunities throughout the Middle East and beyond,” Al-Falih said.
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Blinken and Crown Prince Salman discuss Gaza in US push for Israel-Saudi Arabia normalisation
US Secretary of State Antony Blinken met Saudi Crown Prince Mohammed bin Salman in Riyadh on Wednesday as part of a diplomatic push to “end the conflicts” in the Middle East. Mr Blinken “emphasised the need to end the war in Gaza, free the hostages and enable the people of Gaza to rebuild their lives free from Hamas", State Department spokesman Matthew Miller said in a readout of the meeting.
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Blinken scraps Jordan stop on Gaza truce tour, heading to Saudi Arabia instead
US Secretary of State Antony Blinken will travel to Saudi Arabia on Wednesday for talks on normalization with Israel as he pushes for a ceasefire in Gaza, a US official tells reporters. Blinken, who is on a regional tour expected to last throughout the week, will travel to Saudi capital Riyadh instead of previous plans to head to Jordan due to scheduling issues, the official says on condition of anonymity. The normalization deal is widely seen as dead in the water, as Riyadh is now conditioning it on the establishment of a Palestinian state — a nonstarter for Israel.
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