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PHOTO: Kerry Meets with King Salman in Saudi Arabia
- March 5,2015
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- SUSTG Team
U.S. Secretary of State John Kerry is in Riyadh today to meet with King Salman and other high-level Saudi officials. The Secretary’s “Full Schedule” of meetings is an opportunity for the Secretary to build rapport with new Saudi officials, a State Department spokesperson said. The Saudi Press Agency (SPA) published this photo from today’s meeting […]
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#FocusKSA: SUSTG Speaks with Sharif Atta of SQM Frontier Management on the Opening of the Saudi Stock Market to Wider Foreign Investment
- March 4,2015
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- SUSTG Team
Sharif Atta of SQM Frontier Management speaks with SUSTG’s Richard Wilson on the opening of the Tadawul, or Saudi Stock Market, to wider foreign investment this Spring. The conversation is part of SUSTG and SUSRIS’ ongoing #FocusKSA discussions on Saudi Arabia.
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Secretary of State John Kerry Heads to Riyadh for a ‘Full Schedule’ Visit; Moment Seen as a ‘Get-to-Know You’ Opportunity for the Secretary
- March 4,2015
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- SUSTG Team
U.S. Secretary of State John Kerry is visiting Saudi Arabia for what the State department called a “full schedule” of meetings with King Salman, GCC ministers, Deputy Crown Prince Mohammed bin Nayef, and Minister of Foreign Affairs Prince Saud al Faisal. Secretary of State John Kerry will arrive Wednesday night and stay overnight in Riyadh. On Thursday, […]
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‘Subtle Change of Energy Policymaker Line-Up’ Gives King Salman Firm Hand on Energy Policy, Report Says
- March 3,2015
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- SUSTG Team
When Saudi Arabia’s King Salman announced a shake-up of leadership shortly after ascending to the throne in January, one of the Kingdom’s most powerful positions – Minister of Petroleum and Natural Resources – was left unchanged. Ali Al Naimi has been Minister for 20 years, and was CEO and President of Saudi Aramco for 12 years before […]
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Sisi in Saudi Arabia as Kingdom Strengthens Diplomatic, Security Ties with Egypt
- March 2,2015
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- SUSTG Team
Egypt’s President Abdel Fatteh el Sisi visited Saudi Arabia for talks with King Salman over the weekend as cooperation between the Kingdom of Saudi Arabia and Egypt on diplomatic and security challenges reaches a high point. Sisi, whose rise to power was a defeat for the Muslim Brotherhood that has long been at odds with Saudi […]
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Despite ‘Kafalah’ Lending Programs for SMEs, Saudi Banks Leave Startup Entrepreneurs Without Needed Funding
- February 27,2015
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- SUSTG Team
Saudi banks are making it difficult for startups get off the ground by decreasing loans to new entrepreneurs, according to a Bloomberg report, despite the fact that these loans are backed by a government SME Loan Guarantee Program. Deema Almashabi writes that entrepreneurs cannot count on receiving necessary startup capital because “banks are not lending to any startups […]
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Tadawul Up 11.2 Percent This Year, Funds Seen as Increasingly Bullish on Saudi Arabian Equities
- February 26,2015
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- SUSTG Team
After a rough second half of 2014, Saudi Arabia’s stock market, the Tadawul or TASI, has begun a bounce-back. The bourse is up 11.2 percent this year, and a recent Reuters survey of regional asset managers found bullishness in those polled about Saudi Arabia equities and the Tadawul. The current gains in Riyadh are the […]
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King Salman’s Cash Payments Give One-Off Jolt to Saudi Economy
- February 25,2015
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- Lucien Zeigler
After the death of King Abdullah and the smooth succession to Saudi Arabia’s new King Salman, the new Custodian of the Two Holy Mosques announced a one-off $32.3 billion spend of two months of wages and other cash handouts to Saudi citizens, government employees, soldiers, pensioners and students on government stipends at home and abroad. After the announcement, […]
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MERS Still ‘Baffling’ Scientists as WHO Criticizes Implementation of Prevention Methods in Saudi Arabia; Riyadh Hospital Temporarily Closed
- February 24,2015
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- SUSTG Team
As MERS cases spike in Saudi Arabia, a delegation of World Health Organization (WHO) and other international organizations visited Saudi Arabia and concluded that the Kingdom must do more to combat the spread of the disease, particularly in hospitals, according to a press release from the WHO today. “Although data collection and surveillance have improved globally […]
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Prince Turki al Faisal Says Poorly-Coordinated ‘Pinprick’ Attacks on Daesh Are Too Limited to Succeed
- February 20,2015
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- SUSTG Team
Saudi Arabia’s Prince Turki al Faisal told NPR that limited attacks on the self-styled Islamic State, or Daesh, are unlikely to work and that efforts thus far have been “disjointed.” “Having simply these pinprick attacks on certain areas is not going to resolve the issue,” al Faisal said, and added, “You really have two air […]
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MUST-READS
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Saudi Arabia’s economic diversification: Driving growth beyond oil
Saudi Arabia’s non-oil sector is experiencing a surge in activity, signaling a pivotal turning point in the Kingdom’s economic diversification efforts. With recent data indicating a growth trajectory, the country stands poised to redefine its economic landscape beyond its traditional reliance on oil revenues.
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Aramco and GCT Semiconductor sign 5G, AI deal in Saudi Arabia
Saudi Arabian state-owned Oil Group Aramco signed a Memorandum of Understanding (MoU) with chip company GCT Semiconductor to bolster the country’s 4G and 5G ecosystem through the development of mission-critical and public safety networks. While financial terms and the length of the MoU were not disclosed, GCT shared in a press statement that the pair will design and co-develop chipsets and modules for LTE, 5G and NTN spectrum in order to “support the localization of wireless end-user devices and IoT manufacturing.”
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Solar Spider Targets Saudi Arabia Banks via New Malware
The sophisticated threat group behind a complex JavaScript remote access Trojan (RAT) known as JSOutProx has released a new version of the malware to target organizations in the Middle East. Cybersecurity services firm Resecurity analyzed technical details of multiple incidents involving the JSOutProx malware targeting financial customers and delivering either a fake SWIFT payment notification if targeting an enterprise, or a MoneyGram template when targeting private citizens, the company wrote in a report published this week. The threat group has targeted government organizations in India and Taiwan, as well as financial organizations in the Philippines, Laos, Singapore, Malaysia, India — and now Saudi Arabia.
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Saudi Arabia blocks 3,317 sites over intellectual property breaches, seizes over 41 million items
Saudi Arabia blocked 3,317 websites last year for violating intellectual property rights rules in the kingdom, according to an official report.The Saudi Authority for Intellectual Property, a government agency, added that it seized more than 41 million items that had infringed intellectual property rights last year.
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Saudi Arabia could lead this new and safer form of nuclear energy
Saudi Arabia’s per capita fossil fuel consumption is the lowest among the Gulf states but still double that of Germany, representing a very significant financial opportunity cost in terms of revenue from exports. Moreover, a 2020 report from the Brookings Institute pointed out, “In the medium term, revenues from oil are expected to decline in the face of reductions in global demand starting around 2040, if not sooner.”
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Dengue outbreak raises concerns in Saudi Arabia as mosquito numbers surge
Saudi Arabia is grappling with a surge in dengue fever cases, leading to growing concerns among health authorities who say intensified efforts are needed to control outbreaks and raise awareness on preventative measures.
The virus is spread from the bite of an infected Aedes mosquito, primarily the Aedes aegypti species, which thrives in tropical and subtropical climates. It spreads dengue and other viruses, including Zika, making it one of the top three mosquitoes in the world in terms of the number of diseases it can spread.
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Saudi Arabia starts enforcing first phase of regulating order delivery sector
The Saudi Transport General Authority (TGA) has started enforcing the first phase of the decisions to regulate the order delivery sector from Tuesday, April 2. This covers three decisions such as obligating non-Saudis working in delivery applications to join one of the companies licensed for light transport activity in four regions of the Kingdom in the first phase; limiting freelance work to Saudis, in addition to issuing controls regulating the use of motorcycles in delivering orders in coordination with the General Department of Traffic, and adoption of uniform for drivers.
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WTA Finals to be held in Saudi Arabia from 2024-2026 with record prize money
The season-ending WTA Finals will be held in Saudi Arabia's capital Riyadh from 2024-2026, the women's tennis body said on Thursday, ending months of speculation and marking the Gulf country's latest foray into the sport.Riyadh will host the season finale - which features the top eight singles players and doubles teams - from Nov. 2-9 and replaces last year's hosts Cancun, Mexico.The WTA said its agreement with the Saudi Tennis Federation will offer record prize money of $15.25 million this year with further increases in 2025 and 2026.
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Sand creature — like something out of ‘Dune’ — found in Saudi Arabia. See new species
Along the coast of Saudi Arabia, the Red Sea retreats from the rocky and sandy beaches with the tide, revealing small pools teeming with life. The “lagoon-like” environments are scattered along the shore where land meets water, and in them, tiny creatures crawl up under the rocks and burrow into the sand. Then the rock lifts, and the creepy crawlies are met with the wide eyes of a researcher. One of these researchers is Chloé Fourreau, a PhD student at the University of Ryukyus in Japan. Fourreau is part of a team searching the coastline for the presence of Perinereis, a type of segmented marine ragworm. It wasn’t long before researchers found one — and it’s a new species.
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Motorists in Saudi Arabia offered new fine reduction scheme
The Saudi interior ministry announced a new scheme on Thursday that would allow motorist in the Kingdom to reduce their outstanding fines by 50 percent. The rule will allow motorists a six month window starting on April 18 to make use of the grace policy. The decision comes “in implementation of the directives of King Salman and Crown Prince Mohammed bin Salman,” the ministry said.
It urged drivers to adhere to the traffic laws and not commit violations.
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