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PHOTOS: Wild Weather Strikes Across Saudi Arabia as Rain, Floods Cause Damage and School Closings
- November 17,2014
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- SUSTG Team
The rain season began in several provinces of Saudi Arabia this past weekend with rain and floods reported in Mecca, Jeddah, and Hail provinces. Photos provided by the SPA show hail and rain storms caused flooding and damage in Taif and Mecca while Jeddah experienced thunderstorms. Director of Civil Defense in Taif Saleh Mansi Al-Harthi has […]
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Iraq’s President in Saudi Arabia Latest Evidence of Improved Relations
- November 12,2014
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- SUSTG Team
Iraq’s President Fuad Masum visited Saudi Arabia’s King Abdullah in Riyadh last night, the latest evidence of a thaw in diplomatic relations between the two countries. “The Iraqi president expressed his happiness to visit the kingdom and meet with his brother the king,” according to the SPA. The meeting was the highest level meeting of officials between […]
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Trading Begins Tomorrow on NCB’s ‘Steeply’ Discounted IPO as the Government Eyes Financial Sector Reforms
- November 11,2014
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- Lucien Zeigler
Trading is set to begin tomorrow on steeply discounted shares of Saudi Arabia’s National Commercial Bank as Saudi Arabia’s capital market regulator will introduce rules for credit rating agencies next September, according to reports. Matthew Martin and Sarmad Khan of Bloomberg quote Asim Bukhtiar, a vice president and head of research at Riyad Capital, as saying […]
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Jadwa Investment’s November 2014 Saudi Chartbook finds Bank Lending to Private Sector Year-on-Year Highs
- November 11,2014
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- SUSTG Team
Jadwa’s November 2014 Chartbook shows bank lending to the private sector recorded its highest year-on-year growth at 13.2 percent and noted that economic data was positive for September. “Bank lending to the private sector recorded its highest year-on-year growth at 13.2 percent, the highest since November 2013,” Jadwa Investment said, noting that generally “economic data was […]
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Energy Subsidies in the Gulf a Staggering $160 billion Annually, World Bank Says
- November 5,2014
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- Lucien Zeigler
Gulf states are spending an average of 10% of GDP on energy subsidies each year, a total of $160 billion, an IMF official said according to Arab News. “The GCC and other MENA states must start cutting energy subsidies now otherwise problems associated with them will get worse,” said Shantayanan Devarajan, chief economist for the World Bank in Middle […]
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First Global Entrepreneurship Forum Kicks off in Riyadh, Saudi Arabia as Kingdom Eyes SME Growth
- November 3,2014
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- Lucien Zeigler
The first Global Business Entrepreneurship Forum (GEF) was held in Riyadh, Saudi Arabia today to bring together top business and startup leaders to the Ritz Carlton Hotel near the Diplomatic Quarter in the Saudi capital. Organized by the Centennial Fund, the GEF’s first event in Riyadh was a chance for entrepreneurs and others in the […]
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The Best SPA Photos from October 2014
- November 3,2014
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- SUSTG Team
In the September edition of the best photos from the Saudi Press Agency, a dazzling performance from Saudi security forces, infrastructure in the Kingdom, ancient woodworking and more.
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Investing in Middle East Healthcare for both Financial and Social Returns
- October 31,2014
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- Mussaad Al-Razouki
It is no secret that Gulf Cooperation Council (GCC) governments are spending billions of dinars, riyals and dirhams on upgrading their healthcare infrastructure. Local and regional newspapers are filled with stories on newer, bigger and flashier hospital projects. Saudi Arabia’s 2013-2014 budget includes funds for 19 new hospitals in addition to the 102 hospitals currently […]
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Video: Full Keynote Address by HRH Prince Turki Al Faisal at the 2014 AUSPC
- October 30,2014
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- SUSTG Team
Prince Turki al-Faisal’s remarks to the 23nd Annual Arab-U.S. Policymakers Conference, entitled, “Framing and Charting the Region’s Issues, Interests, Challenges, and Opportunities: Implications for Arab and U.S. Policies” Saudi Arabia’s Prince Turki al-Faisal is Chairman, King Faisal Center for Research and Islamic Studies, Riyadh, Saudi Arabia and former Saudi Arabian Ambassador to the United Kingdom and to […]
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Al-Jubeir: ‘Every Time the U.S. and Saudi Arabia Have Come Together, We have Done Wonders for the Region’
- October 30,2014
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- SUSTG Team
In his luncheon keynote remarks to the National Council on US-Arab Relation’s annual policymaker’s forum in Washington, D.C., Saudi Arabia’s Ambassador to the United States Adel al-Jubeir discussed the historical and current status of the Saudi-U.S. relationship and it’s track record of success when facing regional and global challenges. Full video of his remarks can […]
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Saudi crown prince meets with Pakistani army chief in Riyadh
Saudi Crown Prince Mohammed bin Salman received Pakistani Army Chief General Asim Munir in Riyadh on Wednesday, Saudi Press Agency reported. During the reception, Saudi-Pakistani relations and opportunities to develop them were reviewed. A number of issues of common interest were also discussed.
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19th Saudi Relief Plane Departs for Lebanon
A 19th relief plane of the Saudi air bridge, operated by King Salman Humanitarian Aid and Relief Center (KSrelief), left King Khalid International Airport for Lebanon today, carrying food, shelter, and medical supplies.
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Saudi Arabia approves cooperation agreement with US for the use of outer space for peaceful purposes
The Cabinet session, chaired by Crown Prince and Prime Minister Mohammed bin Salman in Riyadh on Tuesday, approved a framework agreement for cooperation in the fields of air navigation and the exploration and use of airspace and outer space for peaceful purposes between Saudi Arabia and the United States of America. The Council also approved, in principle, the national general framework and guiding principles for foreign direct investment.
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Saudis Plan $100 Billion AI Powerhouse to Rival UAE Tech Hub
The state-backed entity will invest in data centers, startups and other infrastructure to develop artificial intelligence, the people said, asking not to be identified discussing plans that aren’t yet public. The initiative, called “Project Transcendence,” will also focus on recruiting new talent to the kingdom, developing the local ecosystem and encouraging tech companies to put resources in the country, they said. An AI hub being built by Saudi Arabia’s PIF and Alphabet Inc.’s Google may serve as the starting point for a broader initiative, the people said. The companies are planning to invest between $5 billion and $10 billion in the partnership, which will include work on creating Arabic language AI models, one person said. Alphabet shares gained 4% on Wednesday to $176.51.
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Shortfalls in migrant workers’ insurance scheme highlight need for major reforms on eve of ILO labour complaint
On 7 October Saudi Arabia announced the launch of an insurance scheme to protect migrant workers’ wages- the latest in a series of labour rights reforms over the past few years as part of the country’s Vision 2030 plan to diversify the economy. However, the scheme and other reforms still fail to offer sufficient protection to foreign workers from exploitation and abuse. The complaint lodged against Saudi Arabia by global trade union Building and Wood Workers’ International (BWI) relates to severe human rights abuses and wage theft involving 21,000 workers. BWI lodged its complaint to the ILO in June 2024. It will be heard on 7 November at the ILO Governing Body meeting, and if accepted, could create a committee to look into the complaints and produce a report recommending further action.
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Arab leaders congratulate Trump but wonder if he can end Middle East wars as promised
Arab leaders quickly congratulated Donald Trump on his U.S. presidential election victory. Some are hopeful he could bring an end to conflicts raging in the Middle East while others are looking for a stronger stance against Iran. Saudi Arabia’s King Salman and Crown Prince Mohammed bin Salman, United Arab Emirates leaders, and Qatar’s emir, Sheikh Tamim bin Hamad, all congratulated Donald Trump on his win, saying strengthening strategic partnerships is important.
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Green Light for Energy: Egypt-Saudi Arabia Interconnection Project Moves Forward
In recent years, Egypt has faced substantial electricity supply challenges, exacerbated by heat waves and gas shortages, which have led to persistent rolling blackouts across the country since July 2022. The strain on the electrical system has grown due to increased demand, particularly from widespread use of air conditioning in Egyptian cities. In spite of this challenge, Egypt is steadfast in its ambitious goal of generating 42 percent of its electricity from renewable sources by 2035. Cairo has not yet met this target. The state has invested heavily in hydropower along Egypt’s coast, and in by the end of 2022 hydropower accounted for 2,832 MW of Egypt’s 6,322 MW of renewable energy capacity, or around 45 percent. However, renewables still only account for a small portion of the overall electricity mix. Although Egypt’s potential for renewable energy is increasing—and it has developed extensive solar and wind programs in addition to hydropower—it has not yet attained the 42 percent goal, and does not appear likely to in the near future.
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Commentary: Why Trump’s Middle East policy will go to the highest bidder
Trump is widely seen in the Gulf as a man without a clear vision for the region. His regional policy will be determined by the two most powerful foreign policy lobbies in Washington: the pro-Israel lobby on one side and the Gulf lobbies on the other. The crucial question will be to what extent the Gulf lobby networks will be able to pull together to achieve a common position on key regional issues such as Palestine as well as Iran and its ‘Axis of Resistance’.
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Apprehension in Iran as Trump returns to power
Donald Trump’s political comeback has sparked a deluge of mostly negative reactions in Iran. Many in Tehran—including hardliners—have expressed resentment at his return to the White House. However, some view Trump’s victory as an opportunity for Reformist President Masoud Pezeshkian to engage with the US.
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Saudi Tourism officially launches coastal super-destination
The Saudi Red Sea represents a pioneering effort in sustainable coastal development, encompassing a pristine 1,800-kilometre stretch of virgin coastline. This launch presents an extraordinary opportunity for superyachts, featuring cutting-edge infrastructure, dive sites, luxury accommodations and untouched natural landscapes. Red Sea Global, NEOM, Amaala, Jeddah Historical and KAEC were among the coastal destinations that were present on the stand.
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