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Recent stories from sustg
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Builder of “Largest Swimming Pool on the Planet” to Construct Lagoon, Golf Course in Saudi Arabia
- September 5,2014
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- SUSTG Team
Builders have already broken ground on a new $4 billion, 8-hectare project megaproject in Saudi Arabia, consisting of a large lagoon, the first Jack Nicklaus golf course in the Kingdom, and more as part of a larger development. The project, the Prince Sultan Cultural Centre (PSCC), is one of 8 mega projects the company has under development […]
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Desert Classic: Toyota’s Iconic Land Cruiser ’70’ to be Re-Released
- September 3,2014
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- Lucien Zeigler
Toyota’s original iconic Land Cruiser 70, popular among Saudis and others in the region, is receiving a makeover. Toyota is re-releasing its classic desert car as part of a special edition to “commemorate Toyota’s longest-running nameplate,” the company said in a press release. The Land Cruiser 70 was first released in 1984, and the re-release […]
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FocusKSA: Rami Khouri on Critical National Security and Foreign Policy Issues for Saudi Arabia
- September 2,2014
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- SUSTG Team
Pat Ryan of SUSRIS talked with commentator Rami Khouri from the American University in Beirut about the crises sweeping the Middle East in this #FocusKSA discussion.
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Saudi Arabia Continues Extremist Crackdown: 88 Arrested ‘On the Verge of Carrying Out Operations’
- September 2,2014
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- SUSTG Team
The government of Saudi Arabia has arrested 88 it says were “on the verge of carrying out operations,” news agencies are reporting. The move is the latest in an ongoing crackdown on extremism. The arrests follow remarks made by King Abdullah over the weekend to foreign Ambassadors to Saudi Arabia in which the Custodian of […]
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A Tadawul Opening Road Map
- August 28,2014
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- Richard Wilson
Jadwa Investments is a well respected Shariah-compliant investment bank based in Saudi Arabia. Jadwa’s market studies and regular updates can be counted on to be highly informed and concise analyses of the topic at hand. Their monthly ‘Chartbooks,’ quarterly GDP updates, annual budget report and specific sector analysis are regular features on the Saudi-US Trade […]
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FocusKSA Video: Former U.S. Ambassador to Saudi Arabia James Smith on the King Abdullah Scholarship Program
- August 27,2014
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- SUSTG Team
The number of students participating in Saudi Arabia’s King Abdullah Scholarship Program has skyrocketed over the past decade from around 2,000 students in 2002 to over 80,000 today, comments former U.S. Ambassador to Saudi Arabia James B. Smith. In a recent FocusKSA (a joint Saudi-US Trade Group/SUSRIS.com initiative) interview with Pat Ryan, SUSRIS Editor-in-Chief, former U.S. […]
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‘A New Page’ for Diplomacy between Saudi Arabia and Iran?
- August 26,2014
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- SUSTG Team
In what may be another step in a growing thaw in Saudi-Iranian relations, Iran’s Deputy Foreign Minister Hossein Amir Abdollahian visited Jeddah, Saudi Arabia on Tuesday and met with Saudi Arabia’s Foreign Minister, Prince Saud al Faisal. In remarks to Reuters following the meeting, Abdollahian said that both countries agreed that “a new page” was […]
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Sfakianakis: Now is the Time for Energy Subsidy Reform in Saudi Arabia
- August 26,2014
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- John Sfakianakis
Annual energy subsidies in Saudi Arabia amount to $120 billion; roughly a quarter of all global energy subsidies combined. As with subsidies worldwide, those in Saudi Arabia are in place primarily for political and social reasons. Unfortunately, energy subsidies result in numerous and profound economic distortions that ultimately do not benefit the poor in particular […]
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Saudi Arabia’s Timely Push for Solar to Reduce Oil Consumption
- August 18,2014
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- Lucien Zeigler
It’s no secret that Saudi Arabia’s energy consumption is soaring, and that to meet increasing demand, the Kingdom is siphoning off more and more of its crude to power the booming Saudi economy. Although Saudi Arabia has plenty of oil, what is consumed to meet domestic power demand cannot be sold on the market. Writing […]
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‘Clash of Investment Cultures’ Awaits Foreigners in Saudi Stock Market
- August 15,2014
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- SUSTG Team
Marwa Rashad and Andrew Torchia report on the impact on the Saudi stock market in the wake of the announcement that the Tadawul will open to foreign investors, and interview stock trader Mohamed al-Otaibi on his current “shorter-term approach” to investing in the market:
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MUST-READS
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Banking and FinanceSaudi banks face further deterioration in operating conditions
The world’s leading credit rating agencies and banking sector analysts expect a further deterioration in the operating conditions of Saudi banks, leading to lower profits, a squeeze on funding and weakening asset quality across the sector.
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Interbank LendingSaudi Arabian Interbank Lending Rate Climbs to Six-Year High
A key interest rate in Saudi Arabia, the biggest Arab economy, rose to its highest in six years as liquidity at banks tightens amid the plunge in oil prices.
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WomenSaudi woman elected as UN urbanization adviser
A Saudi woman has been elected onto the United Nations Habitat Youth Advisory Board for two years as an adviser on the Future Saudi Cities Program.
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Saudi EconomySaudi economy capable of withstanding oil price slump: World Bank Gulf director
The Saudi economy is capable of withstanding any shocks caused by the current oil price slump, the World Bank’s Country Director for Gulf Countries Nadir Mohammed said on Monday.
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Drug SmugglingA Saudi prince is charged with drug smuggling in Lebanon after a record-setting bust
The Beirut airport has referred to the bust the largest in its history. Officials found 2.2 tons (2 metric tons) of a popular amphetamine, Captagon, along with some amounts of cocaine, on the prince’s private jet. Captagon, produced in Lebanon and Syria, is widely known to be used by fighters in Syria to stay alert.
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AfghanistanTaliban says it won’t interfere with Afghanistan quake relief
The Taliban said Thursday it would not interfere with Afghan government-led efforts to deliver assistance to thousands of people suffering in the aftermath of this week’s magnitude 7.5 earthquake.
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Ex-Im BankHouse uses rare procedure to revive Export-Import bank
The House launched a rare effort Monday to circumvent Republican leadership in hopes of reviving the Export-Import Bank, which conservatives managed to choke off earlier this year.
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InvestmentSaudi Wealth Fund Said to Seek Bankers in Shift to Global Deals
Saudi Arabia’s Public Investment Fund is seeking to hire bankers for international deals to help the kingdom acquire overseas technology and expertise, four people with knowledge of the matter said.
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Illegal Drug TradeLebanon arrests five, seizes two tonnes of drugs aboard Saudi-bound jet
Lebanese authorities detained five Saudi citizens at Beirut international airport on Monday after finding two tonnes of drugs aboard a private jet bound for the Gulf kingdom, security sources and the National News Agency said.
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HezbollahLebanon’s Hezbollah takes aim at Saudi Arabia on Ashura
Speaking on Ashura, the day on which Shi'ites commemorate the death of Prophet Mohammad's grandson, Hezbollah leader Sayyed Hassan Nasrallah listed the Saudi leadership alongside traditional enemies Israel and the United States.
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