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For Saudi’s Troubled Housing Market, New Tax on Vacant Plots Could Spur Development, Lower Prices
- March 25,2015
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- SUSTG Team
In a big step for providing affordable housing to Saudi citizens, the Government has decided to impose a tax on the owners of vacant plots of land within city borders. The tax will incentivize development on these idle plots of real estate, either by the landowner or by encouraging the sale of the plots to those […]
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Fears of an ‘All Out War’ Grow in Neighboring Yemen as Rival Factions Look to Iran and Saudi Arabia for Help
- March 24,2015
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- SUSTG Team
Tensions are escalating in Yemen as Iranian-backed Houthi militias and forces loyal to ousted President Abd-Rabbu Mansour Hadi, backed by Saudi Arabia, are “squaring off for battle after months of skirmishes,” Reuters reports. “With President Abd-Rabbu Mansour Hadi seeking a comeback from the port city of Aden while the Shi’ite Houthi movement controls the capital Sanaa, […]
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Saudi MOH Says MERS Infections, Death Rates Slowing Down
- March 23,2015
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- SUSTG Team
The rate of new Middle East Respiratory Syndrome Coronavirus (MERS-CoV) infections and deaths have slowed down, the Ministry of Health announced on its website, as only two deaths and two new infections were reported during the past week, and six patients fully recovered from the virus and were discharged from hospitals, the Saudi Gazette reported. Saudi […]
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Video: Kentucky Senator and GOP Candidate for President in 2016 Rand Paul Says United States ‘Should Be Boycotting Saudi Arabia’
- March 23,2015
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- SUSTG Team
Kentucky Senator and future GOP candidate for President in 2016 Rand Paul says the United States “should be boycotting Saudi Arabia” in a speech to donors that was posted on YouTube. “Remember when South Africa was misbehaving? We organized a boycott of South Africa. We should be boycotting Saudi Arabia and not taking money from […]
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Saudi Arabia’s ‘New Desert Megacity’ KAEC 15% Complete
- March 20,2015
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- SUSTG Team
The BBC’s Sylvia Smith checks in on development at the King Abdullah Economic City north of Jeddah, one of four “megacity” projects envisioned by King Abdullah to be developed in the coming years. At a cost of $100bn, Saudi Arabia’s King Abdullah Economic City (KAEC) is currently only 15% completed. “Peppered with cranes, the city […]
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Is Saudi Arabia Moving Towards a Future Without Expatriate Workers?
- March 18,2015
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- SUSTG Team
Today in the Dubai-based newspaper The National, Gulf expert Theodore Karasik writes that Saudi Arabia is moving to provide more jobs for Saudis, and that under new King Salman, change is in the works for its troubled labor sector. The goal to stop relying on expatriate workers and to transition to a nearly all-Saudi workforce is […]
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U.S. Embassy in Riyadh Remains Closed for Third Consecutive Day
- March 18,2015
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- SUSTG Team
The U.S. Embassy in Riyadh was closed a third consecutive day today following the announcement made on Sunday that the Embassy would be closed because of security concerns on Monday and Tuesday, the Embassy said on its twitter account. The @USEmbassyRiyadh and both Consulates in #SaudiArabia have canceled consular services for tomorrow, March 18. — U.S. […]
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Prince Turki al Faisal on Iran Negotiations: “Whatever Comes Out of These Talks, We Will Want the Same”
- March 17,2015
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- SUSTG Team
In an interview with the BBC on Monday, HRH Prince Turki al-Faisal said that Saudi Arabia would seek the same rights that Iran has with respect to enrichment of nuclear fuel. “Iran is a disruptive player in various scenes in the Arab world, and so ending the fear of Iran developing weapons of mass destruction […]
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U.S. Embassy in Riyadh and Missions in Dhahran and Jeddah Shut for Two Days as Authorities Eye Security Threats
- March 16,2015
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- SUSTG Team
The US Embassy in Riyadh and at its diplomatic missions Jeddah and Dhahran in Saudi Arabia suspended all consular services for two days over security fears. The announcement of the closures came through a special security message dated March 14th that said the U.S. facilities would be closed for the 15th and the 16th. The note […]
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Saudi Housing Minister Relieved of his Post – Report
- March 12,2015
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- SUSTG Team
Saudi Arabia’s Housing Minister Shwaish bin Saud Dhwaihi has been relieved of his post as minister of housing, following a royal order, according to reports. He will be replaced Essam bin Saad bin Saeed, Minister of State. Saudi Arabia’s Ministry of Housing was established by Royal Decree on March 25, 2011 by King Abdullah. In addition to managing Saudi Arabia’s […]
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Secretary Blinken’s Meeting with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud
Secretary of State Antony J. Blinken met today with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud in Riyadh. The Secretary underscored the importance of bringing the war in Gaza to an end and releasing all hostages. The Secretary and Foreign Minister continued discussions on how to establish security, governance, and reconstruction in the post-conflict period. The Secretary thanked the Foreign Minister for Saudi Arabia’s work to facilitate humanitarian aid into Gaza and Lebanon. They also discussed the need for a diplomatic solution in Lebanon that allows Israeli and Lebanese civilians to return to their homes.
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Saudi Economy Set for Strongest Growth in Years Amid OPEC+ Supply Boost
Saudi Arabia’s economy is set to grow by 4.4% next year, accelerating to the highest in three years from 1.3% growth expected for 2024, as OPEC+ is set to begin unwinding its oil production cuts in December, a Reuters poll of economists showed on Wednesday. On average, the economies of the six members of the Gulf Cooperation Council (GCC) – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates – are expected to grow by 4.1% in 2025, compared to an expected 1.8% growth for this year and higher than the average estimate of 3.7% growth for 2025 in the July Reuters poll.
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Al-Khorayef: Saudi Arabia to localize production of about 200 medicines
Minister of Industry and Mineral Resources Bandar Al-Khorayef confirmed that the ministry has identified approximately 200 medicines whose localization is a priority in Saudi Arabia due to their great importance in achieving drug security. Actual steps have begun to localize 42 of these medicines in coordination and integration with governmental and private entities. He also stressed that Saudi Arabia is moving forward to become a pivotal center for the pharmaceutical and vaccine industry in the region, through effective partnerships it has concluded with major global pharmaceutical companies. Al-Khorayef stressed the importance of unifying efforts and establishing a clear reference for localizing the pharmaceutical industry to attract qualitative investments to the sector, and accelerate the steps toward achieving the goals of Saudi Arabia’s Vision 2030 in the pharmaceutical sector.
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Secretary Blinken’s Meeting with Saudi Crown Prince and Prime Minister Mohammed bin Salman Al Saud
Secretary of State Antony J. Blinken met today with Saudi Crown Prince and Prime Minister Mohammed bin Salman Al Saud in Riyadh to discuss our common efforts to end the conflicts in the region and establish greater peace and security. The Secretary emphasized the need to end the war in Gaza, free the hostages, and enable the people of Gaza to rebuild their lives free from Hamas. The Secretary and Crown Prince discussed efforts toward a diplomatic resolution in Lebanon that allows civilians on both sides of the Blue Line to return to their homes. They continued discussions on the need to establish lasting regional stability, including through greater integration among countries in the region. They also discussed the importance of ending the conflict in Sudan, protecting civilians, and advancing a political transition to a civilian government. The Secretary expressed appreciation for Saudi Arabia’s role in promoting stability and peace in the region.
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Saudi Arabia’s World Cup Stadiums Explained
The 2034 FIFA Men’s World Cup is coming to Saudi Arabia. The Kingdom, which has been rapidly expanding its infrastructure and pushing the boundaries of architectural innovation, will now build or renovate 15 stadiums across the country, marking a bold step in its bid to become a global sporting hub. The tournament will be hosted across 11 newly constructed venues, while four existing stadiums will undergo extensive renovations to meet FIFA’s rigorous standards.
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Final off take agreement signed to localize 7 insulin products
The agreement was concluded in partnership with the National Unified Procurement Company for Medical Supplies (NUPCO), Sudair Pharmaceutical Company, Sanofi, and Novo Nordisk. This agreement reflects Saudi Arabia's efforts to enhance its production capabilities and its commitment to creating an attractive investment environment and thus strengthening its position as a regional center for the pharmaceutical industry in line with the goals of Saudi Vision 2030.
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Blinken on new quest for Saudi ties with Israel
The top US diplomat flew directly from Tel Aviv in Israel to the Saudi capital Riyadh, a mere two-hour flight impossible on commercial airliners, on a tour of the Middle East days before the US election. Speaking to reporters on the tarmac in Tel Aviv, Blinken urged keeping "eyes on the strategic prize" of Israel-Saudi normalisation as his efforts for a Gaza ceasefire ground on with no immediate breakthrough in sight. "There remains, despite everything that's happened, an incredible opportunity in this region to move in a totally different direction," Blinken said before boarding his US government plane.
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Saudi Arabia’s 2023 FDI data reflects success of Vision 2030: Al-Falih
“As a result of these positive shifts in FDIs, we expect to see more investors entering the Saudi market to take advantage of the country’s economic and investment strength, the stability of its policies, its long-term economic vision, and its solid financial and monetary fundamentals. Additionally, they will benefit from Saudi Arabia's strategic location, which serves as a gateway to growth opportunities throughout the Middle East and beyond,” Al-Falih said.
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Blinken and Crown Prince Salman discuss Gaza in US push for Israel-Saudi Arabia normalisation
US Secretary of State Antony Blinken met Saudi Crown Prince Mohammed bin Salman in Riyadh on Wednesday as part of a diplomatic push to “end the conflicts” in the Middle East. Mr Blinken “emphasised the need to end the war in Gaza, free the hostages and enable the people of Gaza to rebuild their lives free from Hamas", State Department spokesman Matthew Miller said in a readout of the meeting.
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Eleventh Saudi Relief Plane Departs for Lebanon with Essential Aid Supplies
An eleventh relief plane of the Saudi air bridge, operated by the 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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