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The Not-So ‘Vanishing Prince’: Saudi Crown Prince Mohammed bin Naif’s Busy Public Schedule and the Dangers of Saudi Kremlinology
- March 10,2017
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- Lucien Zeigler
‘Kremlinology’ originally applied to the attempt by outsiders to understand Russia’s political inner-workings. It can also describe any attempt to understand a secretive organization or process, and the Saudi royal family certainly fits this bill. Conclusions about the inner-workings of Saudi Arabia’s government and royal family based solely on appearance, rumor or sources that may […]
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Trump Administration Taking ‘More Saudi-Friendly Approach to the Conflict in Yemen’
- March 9,2017
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- SUSTG Team
The U.S. State Department’s approval of a resumption of weapons sales to Saudi Arabia that would reverse a decision by President Obama is “a potential sign of reinvigorated U.S. support for the kingdom’s involvement in its neighbor’s ongoing civil war,” the Washington Post reports. President Trump must approve the reversal, which was ordered by Secretary of […]
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As Saudi Aramco Prepares IPO, Investors Speculate on Ultimate Value
- March 6,2017
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- SUSTG Team
Fund managers and institutional investors are split on the expected value of Saudi Aramco, with a majority saying the company will have a market capitalization of $1 trillion to $1.5 trillion when it sells shares to the public next year, Reuters reports, citing a survey of fund managers conducted by regional investment bank EFG Hermes. That […]
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King Salman Launches Month-Long Investment Tour in Asia
- February 24,2017
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- SUSTG Team
Saudi Arabia’s King Salman leaves Sunday for a month-long tour of key nations in Asia as the region grows in influence as an oil importer and potential investor in the Saudi economy. The King is expected to visit Malaysia, Indonesia, Japan and China. It is his first trip outside the Middle East and North Africa since […]
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Milestones in Saudi Arabia as Women are Appointed to Head the Kingdom’s Stock Exchange, Major Newspaper for the First Time
- February 17,2017
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- SUSTG Team
For the first time in Saudi Arabia, a woman will head up the Kingdom’s stock exchange and one of the country’s daily newspapers as incremental progress toward equality for women continues. The appointment of Sarah Al-Suhaimi to chair the Saudi stock exchange, or Tadawul, is in line with an ambitious economic and social reform program […]
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Photos Show Severe Floods Hitting Saudi Arabia’s Asir Region
- February 15,2017
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- SUSTG Team
At least one person was killed and hundreds rescued on Wednesday after severe flooding in Saudi Arabia’s Asir region. Videos and photos emerging online of the floods show fast-moving currents sweeping away cars and motorists stranded in water. Saudi Arabia’s Civil Defense said that 10 others were injured and over 280 people were rescued while dealing with […]
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In-Depth Tourism Report by Colliers Highlights Huge Saudi Potential
- February 8,2017
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- SUSTG Team
In a PDF available here entitled Destination Saudi – Leisure, Culture, and Tourism Potential, Colliers examines the potential for significant opportunities in the tourism sector for Saudi Arabia and whether Vision 2030, as an identifier of the potential for entertainment and cultural development, can be the vehicle for that growth. “There is a positive outlook for tourism […]
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Russia Takes Title of Top Oil Supplier to China for the First Time Ever in 2016; Unseats Saudi Arabia
- January 23,2017
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- SUSTG Team
Russia overtook Saudi Arabia as China’s top oil supplier last year for the first time ever amid the ongoing battle for market share in the world’s biggest energy market, Bloomberg reports. The recent takeover as top supplier to China comes as analysts parse comments made by Saudi Arabia’s Minister of Energy and Natural Resources Khalid al-Falih […]
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For Saudi Arabia’s 2017 Budget, Jadwa Investment Sees ‘Expansionary Fiscal Stance’
- December 27,2016
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- SUSTG Team
Saudi Arabia unveiled its 2017 budget last week with a budgeted SR890b ($237.2b) in spending, which is a SR50b ($13.3b) increase over the 2016 budget of SR840b ($223.8b). In a note sent to investors, Riyadh-based Jadwa Investment released a report outlining Saudi Arabia’s efforts to reduce its deficit despite the increase in spending. Based on revenues […]
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Saudi Arabia’s SIDF Gets New Investment Muscle to Enter New Industries
- December 16,2016
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- SUSTG Team
Saudi Arabia’s Energy Minister Khalid al-Falih said that Saudi Arabia plans to boost the capital of the Saudi Industrial Development Fund (SIDF) by SAR6bn ($1.6bn) to help finance the kingdom’s entry into new industries. The additional planned allocation would be on top of the SAR3bn ($800m) of capital recently injected in the fund, Falih said, […]
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Saudi Arabia’s first arrivals duty-free stores open at King Khalid International Airport
Hailing the inauguration of arrivals duty-free at King Khalid Airport on LinkedIn, Riyadh Airports Chief Commercial Officer Abdulaziz Al-Askaer said: “The duty-free shops have been launched in the arrivals area in a first of its kind in the Kingdom’s outlets and it represents a major achievement that reflects our continuous commitment to improving the experience of our dear passengers. “Visitors to the Kingdom will be able to shop in the store and get a wide variety of products and gifts at competitive prices of high quality.”
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Officials and envoys welcome Saudi Arabia’s new Global Harmony Initiative
Saudi authorities publicly unveiled their new Global Harmony Initiative on Wednesday night during an official launch event in Riyadh. The aim of the initiative, announced earlier this week, is to celebrate and showcase the diverse range of nationalities and cultures among residents of the Kingdom by exploring their professional and family lives, social and recreational activities, contributions to the economy, success stories and cultural integration into Saudi society, organizers said.
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Al Hilal chief hits back at Koeman criticism of Saudi Pro League
Netherlands coach Ronald Koeman underestimates the quality of the Saudi Pro League, Al Hilal CEO Esteve Calzada said on Thursday after the Dutchman refused to select winger Steven Bergwijn because of the player's move to Saudi Arabia. Bergwijn, 27, joined Al Ittihad from Ajax Amsterdam last month and was publicly called out by Koeman who said international selection was now closed to the player. Former Manchester City executive Calzada said the Dutch coach undervalued the Saudi top-flight, which in the last two years, helped by the country's Public Investment Fund, has spent a huge sum of money attracting top talent from across Europe.
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Prince Faisal bin Salman congratulates Dr. Mortel for obtaining Saudi citizenship
Prince Faisal bin Salman, special advisor to Custodian of the Two Holy Mosques and chairman of the Board of Directors of the King Abdulaziz Foundation for Research and Archives (Darah), congratulated Dr. Mortel on the occasion of obtaining the Saudi citizenship. During his meeting with Dr. Mortel at the Darah headquarters in Riyadh, Prince Faisal underscored the keenness of Saudi Arabia and its leadership on attracting experts and thinkers from various fields so as to contribute to the process of building a strong cultural and scientific society in the country.
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Saudi Arabia’s RHQ Programme continues to gain momentum
In 2024, the RHQ mandate is now in full effect. As of 1 January, MNCs without an RHQ in Saudi Arabia are no longer eligible to bid in government tenders above SAR1 million (USD266,000). Over 350 MNCs have obtained RHQ licences, with most choosing Riyadh as their base of operations. The capital city is already an economic business hub and is fast becoming a regional headquarters destination for international companies, with big names like Amazon, Google, Microsoft and PepsiCo already having a presence there.
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Lucid’s boss on sputtering EV market, Elon, and doing business in Saudi Arabia
I didn’t go out and try to seek Saudi money specifically. But I needed billions of dollars. And to get that, we needed a proof point, because there was a whole phalanx of EV startups just trying to ride the coattails of Tesla’s market cap. So we partnered with McLaren and we developed the most advanced electric motorsport battery pack. And guess what happened? Saudi Arabia said we’d like to host a Grand Prix event for electric motorsport. That Saudi race was the first race where our battery pack featured and that was the proof point for the Saudis. So these talks were happening with His Excellency, Yasir [Al-Rumayyan], in the summer of 2018. He’s quite an accomplished racing driver, and I decided that none of my test drivers were driving our cars fast enough to impress. So I took him out. I think I scared the devil out of him, flat out around the block. And they were in.
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Secretary Blinken’s Call with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud
Secretary of State Antony J. Blinken spoke today with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud to discuss the death of Yahya Sinwar and the importance of ongoing efforts to end the conflict and secure the release of hostages. The Secretary discussed ongoing work towards a post-conflict period in Gaza that ensures Hamas does not remain in power and provides a path for the people of Gaza to rebuild their lives and realize their aspirations. The Secretary and Foreign Minister also discussed the situation in Lebanon and the urgent need to deliver humanitarian aid to all vulnerable populations there. The Secretary expressed appreciation for the humanitarian aid Saudi Arabia is providing to Lebanon and reaffirmed continued U.S. efforts to promote a diplomatic resolution along the Blue Line that implements United Nations Security Council Resolution 1701. The Secretary thanked the Foreign Minister for Saudi Arabia’s role to promote regional peace and stability.
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Saudi Arabia extends grace period for payment of 50% traffic fine reduction for another six months
The Ministry of Interior announced on Thursday the extension of the grace period for the payment of a 50 percent reduction in accumulated traffic fines for another six months. This is in implementation of the directives of Custodian of the Two Holy Mosques King Salman and Crown Prince and Prime Minister Mohammed bin Salman, the Saudi Press Agency reported. According to the directive of the highest authorities, the new grace period will end on April 18, 2025. The royal directive came in the wake of the expiry of a previously announced six-month grace period on Friday, October 18, 2024
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How Noor Stars became the Arab world’s biggest YouTube star
“It was 2011. We were at an airport in Turkey, and we had been there all day, with my sister, brother, and my mother. She was in a wheelchair. We were cold, we were hungry, and we were scared. Someone was supposed to pick us up, but nobody came. I kept saying, ‘Oh God, why us, why me? What did I do to go through all of this, and I am not even 14 years old?’ But now I see, everything happens for a reason.” Whatever the reason, a lot has happened. Three years later, in Michigan, Naim made her first-ever YouTube video. And today, at just 27, Naim – better known as Noor Stars – is the biggest Arab female YouTube star on the planet, with 21.1 million subscribers to her channel. Add to that nearly 16 million on Instagram, 3.4 million on Facebook, 10.3 million on TikTok, and 3 million on Snapchat – combined with her podcasts – Naim has nearly 60 million followers across her multiple platforms.
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US stealth bombers strike 5 Houthi weapons bunkers
In December 2023, the Pentagon launched Operation Prosperity Guardian, a mission led by the U.S. and involving multiple countries, which has sought to protect ships transiting the waterway. Most companies have instead rerouted away from the Red Sea, though, and U.S. Navy vessels located there have faced repeated attacks from the group, which America’s government considers a terrorist organization. “At the direction of President Biden, I authorized these targeted strikes to further degrade the Houthis’ capability to continue their destabilizing behavior and to protect and defend U.S. forces and personnel in one of the world’s most critical waterways,” Austin said.
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