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Recent stories from sustg

  • Tourists to KSA spend over $37b in 2023
     

    The Ministry of Tourism released it’s annual tourism statistics report for 2023 this week reflecting significant growth in tourist numbers and spending.

     
  • Saudi Arabia’s Capex Super Cycle – Goldman Sachs
     

    In its informative August 14, 2024 Briefing Insight entitled “Only a quarter of Saudi Arabia’s $1 trillion capex plan will go into oil” Goldman Sachs’ analyst team examines the Kingdom’s projected capital expense spending to 2030.

     
  • Saudi Arabia leads GCC IPO momentum in Q2 2024
     

    In Q2 2024, the GCC witnessed a significant uptick in IPO activity, with 13 listings raising a combined $2.64 billion. This surge in capital was primarily focused on the healthcare, education, and technology sectors.

     
  • Calligraffiti – Saudi Artist Ahmed Al-Sulaimani
     

    Saudi artist Ahmed Al-Sulaimani is making a name for himself blending Arabic calligraphy and graffiti-inspired techniques and was recently featured in an Arab News report.

     
  • Saudi Arabia Updates Investment Law
     

    Building on previously announced reforms under Vision 2030 and the National Investment Strategy, the Cabinet has approved an updated investment law for Saudi Arabia. The updated law brings together several existing freedoms and rights and expressly applies them to investors under one unified framework, providing investors with greater transparency, flexibility and confidence.

     
  • Prince Mohammed bin Salman Royal Reserve
    • August 9,2024
    • •
     

    Covering 24,500 KM2, the Prince Mohammed Bin Salman Royal Reserve is located south of Neom in northwestern Saudi Arabia. It covers 1% of Saudi Arabia’s terrestrial area and 1.8% of its marine area, it is home to over 50% of the Kingdom’s marine and terrestrial species.

     
  • Halo Space Preparing For Saudi Arabian Stratospheric Test Flight
     

    Spanish company HALO Space is developing a new form of space travel called stratospheric ballooning. This involves using a large helium-filled balloon to carry a pressurized capsule carrying passengers up to the stratosphere, which is about 35 kilometers 922 miles) above the Earth’s surface.

     
  • Saudi Arabia announces Labor Law amendments to improve work environment
     

    The Ministry of Human Resources and Social Development said the new amendments encompass 38 articles, deleting seven articles, and adding two new articles to the Labor Law. The new amendments will be effective after 180 days from the date of their publication in the official Gazette.

     
  • Chinese Language Instruction in KSA
    • August 6,2024
    • •
     

    During Saudi Crown Prince Mohammed bin Salman’s State Visit to China in February 2019 Saudi Arabia and China agreed to include the Chinese language as a curriculum at all stages of education in schools and universities across the Kingdom.

     
  • Saudi Solar Power capacity picking up speed
     

    GlobalData predicts that, at its current pace, Saudi Arabia’s renewable power capacity could increase at a compound annual growth rate (CAGR) of 40.1% between 2023 and 2030, to reach 31.5 GW by 2030 and 63.1 GW by 2035. 

     

MUST-READS

  • Iran struggles to fulfill potential of relations with India

    Alongside relations with neighboring states, Asia forms the core of the conservative Iranian government’s foreign policy focus, as Ebrahim Raisi set out in a presidential debate during the election campaign last June. Raisi criticized what he perceived as the western-oriented foreign policy of his predecessor Hassan Rouhani (2013-21) during several debates. In this vein, the Raisi administration in Aug. 2021 promised a pivot towards “Asia-centered” foreign policy and although some progress has been made, there have been more obstacles than the government anticipated. Iran’s India policy has been a particular challenge.

  • Russia seeking oil payments from India in dirhams

    Russia is seeking payment in United Arab Emirates dirhams for oil exports to some Indian customers, three sources said and a document showed, as Moscow moves away from the U.S. dollar to insulate itself from the effects of Western sanctions. Russia has been hit by a slew of sanctions from the United States and its allies over its invasion of Ukraine in late February, which it terms a "special military operation".

  • India’s coal imports hit record high in June

    India's coal imports hit a record high in June despite high global prices, data from three trade sources and Refinitiv ship tracking showed, as economic activity picked up and amid a domestic shortage of the fuel. India imported over 25 million tonnes of thermal coal and coking coal in June, rising by over a third compared with the same period last year, data from consultancies Coalmint and Kpler, and trader I-Energy Natural Resources showed.

  • A new corridor for India-Russia trade via Iran is almost ready

    INSTC is a multimodal transportation network of sea, road, and rail routes between Russia and India, two countries that notched up bilateral trade of up to $13 billion (about 1 lakh crore rupees) at the end of 2021. Following the breaking out of the Ukraine war, this trade doubled down on oil and other commodities.

  • UN says India’s population may overtake China’s in 2023

    The year 2023 is when India is likely to surpass China as the world’s most populous country, the UN has said. In 2021, India’s population was 1.412 billion, compared to China’s 1.426 billion and by 2050, it’s expected to increase at a much higher rate.

  • India’s Russian coal purchases spike despite sanctions

    India's purchases of Russian coal have spiked in recent weeks despite global sanctions on Moscow, as traders offer discounts of up to 30%, according to two trade sources and data reviewed by Reuters. Russia, facing severe Western sanctions over its invasion of Ukraine, warned the European Union in April against sweeping sanctions on coal, saying they would backfire as the fuel would be redirected to other markets.

  • Russia pips Saudi Arabia to be India’s second-largest oil supplier at 25 million barrels

    The fall in demand for Russian Ural oil also led to a fall in its spot prices. India took advantage of this situation and bought oil at a discount as high as $30 a barrel. It must be noted that earlier Russian oil was imported in far less quantity due to high freight costs. In April, India imported only 2,77,000 barrels from Russia but it increased to 8,19,000 barrels a month later.

  • Indian officials step up arrests, demolish houses to stop unrest over anti-Islam remarks

    Muslims have taken to the streets across India in recent weeks to protest against the anti-Islamic comments by two members of Prime Minister Narendra Modi's Hindu nationalist Bharatiya Janata Party (BJP). Clashes have broken out between Muslims and Hindus and in some cases between protesters and police in several areas. Police in Uttar Pradesh arrested more than 300 people in connection with the unrest.

  • Why India is in damage-control mode with Arab nations

    On May 26, BJP spokeswoman Nupur Sharma made comments on an Indian news channel about Prophet Mohammad that were deemed offensive and Islamophobic. Qatar, Kuwait and Iran summoned India's ambassadors, and the Gulf Cooperation Council, Saudi Arabia, the United Arab Emirates and the Organization of Islamic Cooperation issued statements of condemnation. At least 14 countries have so far condemned the remarks.

  • India scrambles to contain fallout over insulting comments about Islam

    Indian products were soon taken off shelves in the Persian Gulf after a high-ranking Muslim cleric called for boycotts. Hashtags expressing anger at Prime Minister Narendra Modi began trending on Arabic-language Twitter. Three Muslim-majority countries — Qatar, Kuwait and Iran — summoned their Indian ambassadors to convey their displeasure. The governments of Saudi Arabia, Indonesia and Afghanistan on Monday condemned the spokeswoman, Nupur Sharma, as did the Organization of Islamic Cooperation.