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Saudi, Iran Row Over 2016 Hajj Heats Up
- May 31,2016
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- SUSTG Team
Iran says it will not allow its pilgrims to attend the Hajj this year following weeks of talks with Saudi Arabia, according to reports. According to Saudi Arabia’s Foreign Minister, Adel Al-Jubeir, Saudi Arabia would not acquiesce to “unacceptable” demands. Al-Jubeir commented that, “Iran refused to sign the memorandum and was practically demanding the right to hold […]
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Comprehensive Document Outlining Saudi Arabia’s Counterterrorism Strategy, Successes Released
- May 26,2016
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- Lucien Zeigler
The Embassy of Saudi Arabia in Washington has distributed a comprehensive document outlining the Kingdom’s efforts to fight terrorism. The detailed publication was distributed to Congress as debate regarding the September 11, 2001 terrorist attacks heat up following the recent unanimous Senate vote to pass the Justice Against Sponsors of Terrorism Act (JASTA) bill. The Kingdom […]
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Senate Passes JASTA Despite Stiff Opposition from White House, Saudi Leaders
- May 18,2016
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- SUSTG Team
The Senate on Tuesday passed H.R.3815, also known as the Justice Against Sponsors of Terrorism Act (JASTA), a bill that would allow the families of victims of the Sept. 11, 2001, attacks to sue Saudi Arabia over its alleged support for terrorism, despite stiff opposition from the White House and Saudi leaders. This is the second time […]
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Responding to Bloomberg Freedom of Information Act Request, U.S. Treasury Reveals How Much U.S. Debt is Held by Saudi Arabia
- May 17,2016
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- SUSTG Team
The U.S. Treasury Department revealed for the first time ever how much debt Saudi Arabia is holding, breaking an unusual and longstanding policy of secrecy regarding how much the Kingdom holds. Saudi Arabia held $116.8 billion in U.S. debt at the end of March. That is down 6% from its highest level in January 2016. Bloomberg first reported the […]
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Saudi General’s New Warning on Yemen’s Capital Underscores Importance of Latest U.N.-Backed Peace Talks
- May 12,2016
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- SUSTG Team
The Saudi-led coalition will fight to regain Yemen’s capital city from Houthi rebels if current peace talks backed by the United Nations collapse, according to Saudi Arabia’s Brigadier General Ahmed Asseri, who has been the official spokesman for the Saudi military during the conflict. The threat underscores the importance to Saudi Arabia of bringing a lasting solution to […]
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Graphic: Saudi Arabia Reshuffles Government Leaders, Modifies Ministries
- May 9,2016
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- SUSTG Team
Saudi Arabia’s King Salman issued a Royal Order on Saturday, May 7th, 2016 making changes to the government structure and key leaders. The Royal Order follows the recently released ‘Vision 2030’ economic and development plan to transform the Saudi economy and society into the 21st Century. The full text of the changes as issued by […]
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The 13 ‘Programs’ in Saudi Arabia’s Vision 2030
- April 27,2016
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- Lucien Zeigler and Richard Wilson
Saudi Arabia’s Vision 2030 document, released on Monday April 25th, provides an ambitious roadmap for significant changes to the Kingdom’s economy and society over the next 15 years. The document highlights three general themes: a “vibrant society“, a “thriving economy“, and an “ambitious nation,” under which the document makes commitments to achieve progress on both […]
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Graphic: Visualizing the Themes in Saudi Arabia’s ‘Vision 2030’ Roadmap
- April 26,2016
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- SUSTG Team
Saudi Arabia’s recently released ‘Vision 2030’ provides the framework of ambitious plans to transform the Kingdom’s economy and society. Additional details – especially in regard to the economy-focused National Transformation Program – will be released over the next 4-6 weeks. Drafted by the Council of Economic and Development Affairs on instructions from King Salman, the just-released document provides […]
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President Obama, King Salman Attend GCC Summit in Riyadh; Pledge to build on ‘Deep Strategic Partnership’
- April 21,2016
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- Lucien Zeigler and Richard Wilson
President Obama and King Salman attended the summit of the Gulf Cooperation Council (GCC) members in Riyadh, Saudi Arabia today at the Al-Diriyah Palace. The White House on Wednesday called the summit “an important opportunity for the United States and its Gulf partners to strengthen cooperation against [the Islamic State group] and also to address regional […]
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Muted Reception for President Obama in Riyadh Belies Strong U.S.-Saudi Cooperation on Security, Economy
- April 20,2016
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- Lucien Zeigler
President Obama arrived in Riyadh today to a chilly official reception from Saudi Arabia indicative of strained ties between his administration and the Kingdom. While King Salman welcomed the other heads of state of the visiting GCC leaders with “pomp and circumstance,” President Obama deplaned Air Force One and was met by the governor of Riyadh […]
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LebanonFormer Lebanese minister Diab set to be named PM: Sources
Former Minister of Education and Higher Education Hassan Diab looks set to be named Lebanon's new prime minister on Thursday, senior political sources have said, a move that would thrust a little-known engineer to the forefront of efforts to tackle an acute economic crisis.
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SoftBankSaudis, Abu Dhabi chill to Softbank’s Masayoshi Son and Vision Fund 2
For now, the Saudis and Mubadala are not ruling out an eventual investment and may just be balking to get better terms from Softbank; as FOX Business was first to report, the Saudis are looking for reduced fees should they invest in the Fund.
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Saudi AramcoSaudi Aramco completes acquisition of 17% stake in South Korean Hyundai Oilbank
“The investment in South Korea’s Hyundai Oilbank supports Saudi Aramco’s Downstream growth strategy of expanding its global footprint in key markets in profitable integrated refining, chemicals and marketing businesses which enable Saudi Aramco to place crude oil and leverage its trading capabilities,” the company said in a statement on Tuesday.
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LebanonLebanese army clashes with supporters of Hezbollah, Amal in Beirut
Lebanese troops lobbed tear gas on Tuesday to disperse supporters of Shi'ite groups Hezbollah and Amal who tried to storm a square in Beirut in response to a video that purportedly offended Shi'ite figures, witnesses and media reports said.
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First Abu Dhabi BankUAE’s largest bank expands further in Saudi Arabia
First Abu Dhabi Bank (FAB), the UAE’s largest bank, has further expanded into Saudi Arabia with the opening of a branch in Jeddah. The Saudi Arabian Monetary Authority (SAMA) has granted FAB a licence to open three branches in the kingdom, with the bank commencing operations in Riyadh and Al Khobar earlier in 2019.
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Arctic DrillingGoldman Sachs rules out financing for Arctic drilling. Will other U.S. banks follow?
Goldman Sachs just became the first big U.S. bank to say it will no longer finance new drilling or oil exploration in the Arctic. It may not be the last.
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Housing and Real EstateVideo: Strong Growth Ahead for Saudi Mortgage Market, Says Hootan Yazhari of Bank of America Merrill Lynch
Hootan Yazhari, managing director for frontier markets at Bank of America Merrill Lynch, discusses his outlook for Saudi Arabian banks.
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NCBBiggest Saudi Bank Abandons Talks to Create Mega Lender
National Commercial Bank, Saudi Arabia’s biggest lender, ended talks to merge with Riyad Bank, a deal that would have created a lender with $200 billion in assets. The boards agreed to terminate talks, according to a statements to the Saudi stock market, without giving further details. Talks between the two banks began a year ago.
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LebanonLebanon crisis: Dozens wounded in second night of clashes in Beirut
On Monday morning, President Michel Aoun postponed until Thursday formal consultations with parliamentary blocs on who to choose as prime minister. Mr Hariri, who had been expected to be nominated despite withdrawing his candidacy last month, requested the delay to allow "more consultation", the presidency said.
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Iran in the RegionIRGC threat to Israel infuriates Lebanon
General Morteza Qorbani said, “If the Zionist regime makes the smallest mistake toward Iran, (the Revolutionary Guards) will reduce Tel Aviv to ashes from Lebanon,” without firing a single missile from Iranian territory.
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