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Recent stories from sustg

  • Saudi restoration commemorates pact of princes, clerics
     

    Climb the rickety ladder through the Emir Omar bin Saud Palace courtyard in crumbling Diriyah and the image of old Saudi Arabia suddenly appears in an adobe roofscape set against dark green palms. The caramel tones of the mud walls, the smell of dust mingling with water and the muffled clanging of hammer on stone […]

     
  • U.S. Approval Eroding in MENA Before Film Controversy
     

    Approval of U.S. leadership in the Middle East and North Africa (MENA) region was already slipping before the recent wave of anti-U.S. protests across the region. An average of 20% of adults across 12 MENA countries Gallup surveyed between January and May 2012 approved of the job performance of the leadership of the U.S. This […]

     
  • Jadwa: Private sector leads real GDP growth in Q2
     

    Jadwa Investment recently released a report about GDP growth in Saudi Arabia, noting that the private sector was leading real GDP growth in the second quarter of 2012. Latest economic growth data released last week confirm that the healthy performance of the Saudi economy continued into the second quarter of 2012 albeit at slower pace than previous […]

     
  • Abdullah Alireza speaks at C3 Summit
     

    SUSTG attended the C3 Summit in New York City September 13-14, 2012. This was the inaugural event in what the organizers anticipate will be an annual gathering to ‘build new relationships, foster existing partnerships and exchange best practices’ between the U.S. and the Arab world. C3 (Community, Collaboration and Commerce) is looking to host the […]

     
  • Saudi Arabia says job-creation policy bears fruit
     

    Saudi Arabia, grappling with chronic youth unemployment, has created 380,000 new jobs in 10 months by requiring private firms to employ Saudis, Labor Minister Adel al-Fakeih said, the Saudi Gazette reported on Monday. “This figure is 20 times what had been previously achieved over the past five years before Nitaqat (the main jobs program) was […]

     
  • Total US-Saudi Bilateral Trade Reaches Record-High $39 Billion in H1 2012
     

    Total bi-lateral trade between Saudi Arabia and the United States reached $39 billion in the first six months of 2012, a record high for any half to date.  Below are some key US-Saudi trade figures for the first half (H1) of 2012 provided to SUSTG by the Saudi Commercial Office at the Royal Embassy of […]

     
  • ‘A Disciplined Approach To Forward-Looking Policymaking’
     

    A recently released report by the Center for Strategic and International Studies on Saudi Arabia’s energy policy finds that the Kingdom is pursuing a “disciplined approach to forward-looking policymaking.” The report was published by Hisham Akhonbay, who is a visiting fellow with the Energy and National Security Program at CSIS from the King Abdullah Petroleum […]

     
  • Will Saudi Arabia become an oil importer by 2030?
     

    THIS was the question asked all of this past week all over the world. Thousands of stories were filed on the topic, following speculation by a Citigroup analyst that Saudi Arabia may start importing oil by 2030. According to that theory, by 2030, Saudi consumption of oil would outstrip production and we could be importing […]

     
  • Saudi Mortgage Law: Key Details Still to be Determined
     

    Saudi Arabia faces housing challenges caused by rapid population growth and an inflow of expatriate workers to the kingdom.

     
  • Property rents soar in Saudi Arabia, analyst report shows
     

    Residential property rents in Saudi Arabia’s main cities have increased by up to 15% in some locations in the first six months of the year. The latest analysis report from real estate consultants CBRE explains that an increasing population and a rapid rise in per capita GDP has led to soaring rents. There has been […]

     

MUST-READS

  • Saudi HQ rules force firms to scramble for loopholes

    Getting the license — often announced with much fanfare — and actually opening a regional headquarters are distinct, though. Firms have six months from the time a license is issued to establish a regional HQ and many now find themselves against the clock, sorting through a lot of red tape: Having a managing director based in Saudi Arabia and hosting board meetings from Riyadh are some of the requirements. At stake is the shot at lucrative contracts in the world’s biggest construction market and with the $925 billion Public Investment Fund.

  • Kushner has discussed U.S.-Saudi diplomacy with Saudi crown prince

    Jared Kushner, son-in-law of former U.S. President Donald Trump, has discussed U.S.-Saudi diplomatic negotiations involving Israel with Saudi Arabia’s Crown Prince Mohammed bin Salman multiple times since leaving the Trump White House, said a source familiar with the discussions. The source did not identify when the talks took place and whether they occurred before or after the start of the Gaza conflict. But they included discussions on the process of normalizing relations between Israel and Saudi Arabia, a key diplomatic objective of both the Biden and Trump administrations, the source said.

  • Saudi foreign minister and Iranian president discuss regional developments

    Saudi Minister of Foreign Affairs Prince Faisal bin Farhan met Iran's President Dr. Masoud Pezeshkian in Doha on Wednesday. During the meeting, they discussed the latest regional and international developments. Prince Faisal conveyed the greetings of Custodian of the Two Holy Mosques King Salman and Crown Prince and Prime Minister Mohammed bin Salman to the Iranian president. On his part, the Iranian president extended his greetings and appreciation to King Salman and the Crown Prince. Saudi Ambassador to Qatar Prince Mansour bin Khalid and Director General of Office of the Minister of Foreign Affairs Abdulrahman Aldawood attended the meeting.

  • Peter Schwartzstein: Climate Violence in the Middle East

    But as that drought intensified and continued through the years in the run-up to 2011, these farmers' willingness and ability to put up with those bribe-seeking demands decreased. At a time when their harvests were failing and crop yields were shrinking, officials were coming back demanding the same sums of cash that farmers were now even less capable of providing and hampering farmers with lower quality seeds and fertilizers at a time of their greatest need. This meant that the degree of rage at that corruption was even higher. When I try and look at how climate change contributes to other drivers of instability, such as corruption or inequality, that's really what I'm driving at.

  • Will contest over gas field derail Iran-GCC rapprochement?

    Iran is expressing renewed concern over a Kuwaiti-Saudi project to extract gas from a contested offshore natural gas field. Meanwhile, some in Tehran are urging a parallel endeavor to also explore the field. Given the ongoing normalization of relations between Iran and Gulf Arab states, the contention has given rise to the question of how the Islamic Republic may approach the matter without forfeiting its claim.

  • Billboard Arabia Uses AI to Create Performance Honoring Late Saudi Arabian Music Icon Etab

    Billboard Arabia‘s special edition “Jalsat” (session) stands out in form and purpose. The exclusive video series “Jalsat Billboard Arabia” was launched in February 2024 and featured some of the region’s most groundbreaking artists, from Ahmed Saad to Siilawy and Saint Levant. This time, in celebration of Saudi National Day, Billboard Arabia traveled back to the 1980s to revive the voice of an icon—a trailblazer who made music history in the Kingdom of Saudi Arabia, Etab. Released on the 94th Saudi National Day (Sept. 23), Billboard Arabia deployed AI technology to bring Etab’s iconic voice and performance back, with a fresh take on her tribute to Saudi in the song, “Ya Saudi” (Hey Saudi).

  • SAMA issues compliance and internal audit principles for finance and re-finance companies​​​​​​​

    The Saudi Central Bank (SAMA) announced on Wednesday that it issued the Compliance Principles and Internal Audit Principles for finance and real estate refinance companies, as part of its supervisory role and endeavor to maintain the financial sector's stability and development. These principles set a more comprehensive regulatory framework to define finance and real estate refinance companies' main functions and outline the responsibilities of boards of directors and executive management regarding compliance and internal audit functions.

  • Saudi FM: Regional tensions threaten flow of investments and economic cooperation

    Prince Faisal stressed the importance of resolving regional conflicts by peaceful and diplomatic means to ensure the region's prosperity. "We thank the countries of the Asia Cooperation Dialogue for their support for the two-state solution and their recognition of the State of Palestine, and we urge the rest of the world to follow suit, which prompted us to contribute with brothers and friends in the establishment of the international coalition to implement the two-state solution," he said.

  • Qiddiya awards SAR 4B stadium project contract to Saudi-Spanish consortium: Report

    Qiddiya Investment Co. (QIC) awarded the construction contract for the Prince Mohammed bin Salman Stadium project to a Saudi-Spanish consortium of Nesma & Partners Contracting Co. and FCC Construcción, at an estimated value of SAR 4 billion, MEED reported.  The contract covers the construction of a multi-purpose stadium in the sports and entertainment zone of Qiddiya City, with a capacity of 45,000 spectators. US architectural design firm Populous is the project’s consultant.

  • ​​EPO and Saudi Authority for Intellectual Property meet​

    A high-level delegation from the Saudi Authority for Intellectual Property (SAIP), led by its CEO Dr Al-Swailem, met with the EPO in Munich on 27 September. Delegates took stock of cooperation projects between the offices and discussed new initiatives to strengthen their partnership and benefit users of the global patent system. The discussions focussed on the successful implementation of the Reinforced Partnership agreement, including SAIP’s re-use of EPO work products, the latest developments in AI-based tools and services and the EPO’s Observatory on Patents and Technologies.