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Deputy Crown Prince Mohammed bin Salman Arrives in Washington, Photographed for the First Time Wearing Western Business Suit
- June 14,2016
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- Lucien Zeigler
Deputy Crown Prince Mohammed bin Salman arrived in Washington, D.C. on Monday and met with Secretary of State John Kerry in Georgetown for an informal dinner. Prince Mohammed’s arrival marks the first time he has been photographed or filmed wearing western clothing. The prince typically wears traditional Saudi clothing both at home in the Kingdom and […]
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As Vision 2030 Details are Rolled Out, International Banks and Others Look for Opportunities
- June 8,2016
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- Lucien Zeigler
International banks are jockeying for a role in Saudi Arabia’s plans to list part of state-owned Saudi Aramco for an Initial Public Offering (IPO), according to a report in Reuters. Financiers around the world are keen to cash in on a cornerstone of the recently-announced “Vision 2030” economic and social plan, with banks preparing for […]
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Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman to Visit Washington Mid-June
- June 6,2016
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- SUSTG Team
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman will visit Washington, D.C. and other cities in the U.S. in June, as the influential Saudi official plans to discuss both foreign policy and economics, according to sources cited by several news outlets. Because Prince Mohammed is both Minister of Defense and President of the key Council […]
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2015 Aramco Annual Review Highlights Record Year of Production
- June 3,2016
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- SUSTG Team
Saudi Aramco’s recently released Annual Review 2015 confirms that the state-owned company produced at record levels last year – averaging 10.2 million barrels per day. The report, which features highlights of the company’s 2015 performance, also said total refining capacity stood at 3.1 million barrels per day, “reflecting successful rapid expansion downstream, optimizing the overall […]
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Graphic: A Capital Punishment Uptick in Saudi Arabia; Kingdom Trails China and Iran
- June 1,2016
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- SUSTG Team
Saudi Arabia may put more than 100 people to death in the first six months of this year and is on pace for a record-setting year after a dramatic surge in executions in 2015, according to reports. Saudi Arabia has executed 95 people this year, with about half of that figure resulting from the execution of […]
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Mine Kills Saudi Border Guard, Wounds Three Others on Yemen Border as Peace Talks Flail
- May 24,2016
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- SUSTG Team
A Saudi border guard was killed and three others were wounded by a land mine that exploded while on patrol alongside the border with Yemen on Monday, according to reports. According to the Saudi Press Agency, the blast injured the soldiers in Saudi Arabia’s southern Jazan Province on the border with Yemen. Reuters reports that it was not immediately […]
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G.E. Jumps Into Saudi Economic Reforms with $1.4b in Deals, Doubled Workforce
- May 23,2016
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- SUSTG Team
General Electric (G.E.) has won a series of deals in Saudi Arabia worth $1.4 billion and said it would double its workforce in the Kingdom from 2,000 to 4,000 by 2020, according to reports. The deals amount to “support” for Saudi Arabia’s “Vision 2030” reform plan, according to Reuters, and were announced by the company’s […]
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Saudi Aramco Energy Ventures Steps Up Investments in U.S.
- May 13,2016
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- SUSTG Team
Saudi Aramco ventures, the venture capital arm of the state-owned Saudi oil giant, has increased its investments in early stage and high growth companies in energy, petrochemicals, and renewables recently with two investments into U.S. companies, according to Forbes. The Dhahran, Saudi Arabia-based VC can is looking to invest $1 million and $30 million per […]
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How Riyadh’s King Abdullah Financial District’s Future Has Shifted
- May 11,2016
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- SUSTG Team
Riyadh’s unfinished King Abdullah Financial District (KAFD) located halfway between downtown Riyadh and King Fahd International Airport is headed for new ownership and a revised master plan. KAFD – the city within a city that was originally designed to be home to the Kingdom’s banks and international financial houses – will soon be owned by […]
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Ahead of ‘Vision 2030’, Saudi Arabia Tested Foreign Lending Appetite
- May 6,2016
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- Lucien Zeigler
Ahead of Saudi Arabia’s landmark Vision 2030 announcement, the Kingdom tested its credit-worthiness from international lenders by raising $10 billion, despite downgrades by Moody’s and Standard & Poor’s (S&P) earlier this year. Not only was Saudi Arabia able to easily raise the funding, the issuance was oversubscribed – so much so that the Kingdom increased […]
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MUST-READS
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Weekly Briefing: Iran’s growing burden of confronting Israel
Iranian media headlines from last week vividly demonstrated the hard choices before Tehran as Iran confronts the specter of possible war with Israel and its allies. The contrasting realities exemplify the pressures Iran’s leadership is under in terms of choosing the immediate and narrow national security interests, namely focusing on saving the economy and avoiding war, versus insisting on core Khomeinist convictions of confronting Israel and the United States.
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Lina Khatib: War Spreads to Lebanon
This has been one of the biggest blows to Hezbollah morally. He's been in charge for 30 years, but the cultivation of the image has really taken off since 2006, so we're talking about almost two decades of this person being presented as almost superhuman. His image had been tightly linked to that of Hezbollah itself, so that, in the eyes of many supporters of Hezbollah, Nasrallah represented strength, resilience, victory, and all those qualities that Hezbollah wanted associated with itself. At the morale level, having this figure eliminated is a huge blow.
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Iran Might Reevaluate its Strategy
The relative failure of Iranian missile strikes has significantly eroded the value of Tehran’s enormous investment in its missile and drone technology and raised serious questions among Iran’s regional allies about the ability of Tehran to come to their defense.
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Day One Problems: Yemen
On January 20, 2025, either Vice President Kamala Harris or former President Donald J. Trump will be sworn in as the next president of the United States. Whoever takes the oath of office that day will face a host of national security challenges, from the war in Ukraine and China’s growing belligerency to the Israel-Hamas conflict, Iran, and a metastasizing terrorist threat. Somewhere on that list will also be the Houthis, the Iranian-backed militia that controls northern Yemen and, for much of the past year, has been attacking commercial shipping in and around the Red Sea.
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US warns Israel to stop blocking aid to Gaza
After Israel sharply cut aid to Gaza in September and brought it to a total halt the first two weeks of October, the United States has formally warned Israel that it has 30 days to rapidly surge the amount of humanitarian aid allowed into Gaza, or risk being deemed in violation of US laws making it eligible to receive US military assistance.
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Saudi crown prince to attend first EU–Gulf Cooperation Summit in Brussels
Saudi Crown Prince Mohammad bin Salman and other Gulf leaders will be in Brussels for the first EU–Gulf Cooperation Summit, focusing on trade, security, and Middle East peace. Saudi Crown Prince Mohammad bin Salman will be in Brussels on Wednesday for the first EU–Gulf Cooperation Summit, Euronews can reveal. The de facto Saudi leader is discussing a range of issues, including global security, the Middle East, trade and global warming. It's his second official visit to Brussels, having previously attended in 2015 for the Global Coalition against ISIS. On the Middle East, the EU hopes the summit can strengthen support for the Palestinian Authority as a step towards resuscitating a two-state solution.
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Saudi Arabia 2034 World Cup Stadiums
Saudi Arabia is gearing up to host the 2034 FIFA World Cup with an impressive lineup of 15 stadiums spread across five host cities: Riyadh, Jeddah, Al Khobar, Abha, and NEOM. Each venue is designed to reflect local culture and architecture while incorporating modern amenities to ensure a fantastic experience for fans and players.
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Saudi Arabia’s Fitness Movement: GymNation to Accelerate Expansion Following Opening of 20th Location
The Saudi Arabia fitness scene is booming and it’s a market that we’ve had an ambition to enter for a number of years. The government has a huge focus on improving fitness penetration levels across the population and are actively encouraging the citizens of Saudi Arabia to engage in health, fitness, and wellness. We want to play our part by helping to break down the affordability barrier and make fitness more accessible and welcoming for everyone across the Kingdom.
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Middle East supply disruption potential could send oil above $100/bbl, Citi says
Citi Research on Monday raised its bull case scenario for oil prices for this quarter and the next one, citing heightened potential of the market to fear or realize supply losses during these months due to growing Middle East conflict. The bank upgraded its bull case for the fourth quarter of 2024 and first quarter of 2025 to $120 per barrel (bbl) from $80/bbl. However, "we maintain our baseline forecast for $74/bbl Brent in 4Q'24 and $65/bbl during 1Q'25, owing to weak underlying oil market fundamentals," Citi added.
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Saudi Arabia has a big plan for oil that could hammer Russia’s war machine, economists warn
Cooper pointed out that because Saudi Arabia's and Iran’s oil wells are closer to the surface, they are cheaper to extract. Russia, on the other hand, has to spend more on production costs to extract its deep oil wells, reducing its margins. “The simplest explanation is the right one: Russia’s GDP growth stems from a massive boost in spending on defense,” Hedlund wrote in Geopolitical Intelligence Services.
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