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Recent stories from sustg
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Russia’s Putin Arrives in Saudi Arabia to Discuss Oil Market Stability, Regional Tensions
- October 14,2019
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- SUSTG Team
Russia’s President Vladimir Putin is in Saudi Arabia to visit with top Saudi leaders, his first trip to the Kingdom in over a decade. The visit is a sign of Russia’s “growing Middle East clout,” Reuters reports, as tensions brew in regional hotspots where Russia and Saudi Arabia’s interests diverge. Putin will sign oil agreements, which will […]
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Range of ‘Positive Developments’ Seen in Latest Saudi Economic Data for August 2019
- October 1,2019
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- SUSTG Team
Economic data for Saudi Arabia for the month of August revealed a number of “positive developments” in several areas, according a recently-released monthly chartbook report by Jadwa Investment. The Riyadh-based bank noted that POS transactions rose by 18 percent year-on-year, while non-oil PMI index edged up, and cement sales and production rose by 12 percent and […]
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Britain, France, and Germany Join U.S. in Blaming Iran for Attacks
- September 24,2019
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- SUSTG Team
Britain, France and Germany have joined the United States in blaming Iran for recent attacks on key Saudi Arabia oil facilities, according to reports, issuing a joint statement Monday on the sidelines of the United Nations General Assembly. “We condemn in the strongest terms the attacks on oil facilities on Saudi territory on September 14th, 2019 in Abqaiq […]
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Brazen Attacks on Key Saudi Oil Facilities Knock Half of Daily Saudi Production Offline, Place Region on Edge
- September 16,2019
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- SUSTG Team
In the early hours of Saturday morning, two of Saudi Arabia’s most important oil facilities were brazenly attacked and set ablaze, causing a disruption of half of Saudi Arabia’s total daily oil production and 5% of the world’s crude supply and throwing the tense region into greater risk of conflict. The attacks on Saudi Arabia hit […]
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Saudi Arabia Names New Energy Minister, Appointing Royal with Deep OPEC Experience
- September 9,2019
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- SUSTG Team
Saudi Arabia has named a new energy minister in Prince Abdulaziz bin Salman, a son of King Salman and older half brother of Crown Prince Mohammed bin Salman, to replace Khalid Al-Falih. Abdulaziz bin Salman is the first member of the royal family to serve as oil minister in Saudi Arabia, a break from longstanding […]
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Saudi Arabia Announces Six Flags Qiddiya with Plans for the World’s ‘Longest, Tallest and Fastest Roller Coaster’
- August 27,2019
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- SUSTG Team
Saudi Arabia has unveiled the official park design for Six Flags Qiddiya, a family-oriented theme park currently under construction just outside of Riyadh. The announcement, along with a website for the future park, said that Six Flags Qiddiya will feature “a number of record-breaking roller coasters, unique thrill experiences, incredible live shows and more arranged into 6 […]
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Saudi Embassy Responds to Misinformation in U.S. Election Debates
- August 8,2019
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- SUSTG Team
The spokesperson for the Saudi embassy in Washington, Fahad Nazer, responded to “worrisome and false” allegations being made by U.S. politicians against Saudi Arabia as the 2020 election cycle gears up. Nazer sought to “set the record straight” especially on accusations connecting Saudi Arabia with Al-Qaeda made by longshot Democratic candidate, representative Tulsi Gabbard from Hawaii. […]
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‘History in the Making’: Saudi Arabia Allows Women to Travel Independently; Enacts Other Reforms
- August 5,2019
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- SUSTG Team
Saudi Arabia’s decision to allow women to travel independently is being hailed a historic leap for gender equality in the Kingdom as women celebrate their new rights and freedoms enacted under King Salman and Crown Prince Mohammed bin Salman. “The new regulations are history in the making,” Princess Reema Bint Bandar, Saudi Arabia’s first woman ambassador […]
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Saudi Binladen Group Seeks Restructure Advisor for Billions of Debt – Report
- July 31,2019
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- SUSTG Team
The Saudi BinLaden Group is seeking an advisor to help the troubled company restructure as much as $20-$30 billion in debt, according to a new report in Reuters. The once-dominant construction company in the Kingdom that has fallen on hard times is now looking for a comeback. In late 2017, the Saudi government, through a Finance-ministry […]
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Saudi Arabia in talks with ‘regional and global investors’ for Qiddiya, the Kingdom’s mega entertainment and sports city – report
- July 24,2019
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- SUSTG Team
Saudi officials are engaged in talks with “regional and global investors” for the Kingdom’s first mega entertainment and sports city that’s being developed as part of the kingdom’s plans for life after oil, Bloomberg reports. The company is looking at options for investment including “joint ventures, land leasing and privatization to fund the project,” according to comments from the company’s […]
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MUST-READS
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Saudi Arabia approves license for National Bank of Iraq to open branch
The Saudi Cabinet approved a license for the National Bank of Iraq to open a branch in the kingdom, the state news agency said on Tuesday on Twitter.
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Saudi banks’ aggregate profit grows 14% in March
Saudi Arabia-listed banks reported a 14 percent rise in aggregate net profit before Zakat and tax to the tune of SR 4.02 billion in March 2021 as against SR 3.53 billion a year earlier, according to data from the Saudi Central Bank (SAMA). The data covers 11 listed banks and some foreign banks operating in the Kingdom.
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Lebanon arrests two brothers suspected in Saudi drug haul
Lebanon has detained two brothers suspected of being involved in a foiled attempt to smuggle amphetamines into Saudi Arabia that prompted the Saudi authorities to impose a ban on importing Lebanese produce, the caretaker government said on Sunday.
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10 Amazing Metal Bands from the Middle East
So we asked Out of Nowhere to round up their top picks for the best Middle Eastern metal bands. Below, take a listen to their choices and watch the "Blind Crow" music video. Guaranteed, you'll gain a mind-blowing insight into the kind of music much of metal has been missing out on.
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Saudi Central Bank adds Geidea & STC Pay to national payment system
To strengthen the financial sector in the Kingdom, payments brands in Saudi Arabia (mada, SADAD, SARIE and Esal) bonded under the umbrella of Saudi Payments, which acts as the operator of the national payment infrastructure in the Kingdom.
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Lebanese composer missing in Saudi Arabia – sources, local media
A Lebanese music composer close to the president's party is believed to be detained in Saudi Arabia for unknown reasons, according to local media reports confirmed by two sources close to him and a security source.
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Saudi Payments enables non-bank entities to join national payment system
STC Pay will be able to issue Mada cards (digital and plastic), which will allow customers to make electronic payments through points of sale and websites, or to withdraw cash through ATMs inside the Kingdom.
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Saudi National Bank posts 20% rise in quarterly profit
Saudi National Bank (SNB), the country's biggest lender, posted a 20.3% rise in first-quarter net profit on Monday with lower impairments and higher fees, in a sign that the economy has been recovering from last year's pandemic lockdowns. SNB reported a net profit of 3.4 billion riyals ($907 million) for the quarter that ended on March 31, up from 2.8 billion riyals in the same period a year earlier.
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Lebanese president calls for effort against drug smuggling after Saudi ban
President Michel Aoun asked Lebanon’s security forces to step up operations against smuggling after Saudi Arabia banned imports of Lebanese produce due to what it called a rise in the illicit drug trade. Aoun spoke at the start of a meeting on the topic with caretaker prime minister Hassan Diab.
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Saudi Central Bank issues SR200 banknote to celebrate 5th anniversary of Vision 2030
Noting that the new banknote comes in gray color with a picture of the founder King Abdul Aziz on the front of the banknote, the logo of the Kingdom's Vision 2030 in 3D design, in addition to the Saudi Central Bank name, and the banknote value in the Arabic letters and numbers. The back of the banknote carries an image of "Qasr Al Hukm" in Riyadh City, the Saudi Central Bank name, and the banknote value in the English letters and numbers.
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