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Recent stories from sustg
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Habitas to Manage Neom’s Annonuced Mountain Destination Leyja with 120 Rooms
- November 1,2023
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- SUSTG Team
Saudi Arabia’s mountain destination of Leyja, announced last month, will be managed by high-end brand Habitas, according to a report.
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Goldman Sachs Sees Saudi and Russia Supply Cuts as Adding Upside Risk to Previous Forecast
- September 7,2023
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- SUSTG Team
Goldman Sachs Commodities Research said Saudi Arabia and Russia’s extension of voluntary supply cuts posed bullish risks to their crude price forecasts, raising a possibility that Brent could jump as high as $107 a barrel next year, according to a report in Reuters.
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Goldman Sachs set to open Regional HQ in Riyadh
- May 24,2024
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- SUSTG Team
Bloomberg reports that Goldman Sachs Group Inc. has become the first Wall Street bank to receive a license from the Ministry of Investment to set up its regional headquarters in Riyadh.
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Halo Space to test Balloon Flight from Saudi
- April 11,2024
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- SUSTG Team
Spanish company Halo Space is in talks with Saudi regulators to set up a base in the kingdom for balloon flights into space. Ongoing tests are planned for Saudi Arabia this summer.
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Saudi Arabia’s New Luxury Train Experience through Kingdom’s Desert Set to Add to Tourism Portfolio
- January 29,2024
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- SUSTG Team
State-owned railway company Saudi Arabia Railways (SAR) recently struck a 200 million Saudi riyals ($53.33 million) deal with Italian hospitality company Arsenale Group to launch the first luxury train in the Middle Eastern kingdom, which paves the way for the Kingdom to have another differentiating tourism experience.
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Saudi Arabia Set to Host World Cup in 2024 as Competitors Drop Out
- November 2,2023
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- SUSTG Team
Saudi Arabia is on the brink of hosting the 2034 World Cup after competing bidder Australia dropped its candidacy to host the global event, marking another milestone in Saudi Arabia’s efforts to develop sports as a contributor to its economic diversification goals.
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Report – Middle East Hotel Project Count Hits All-Time High
- September 6,2023
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- SUSTG Team
The Middle East region continues to show steady pipeline growth in hotel projects in the second quarter of 2023, with the highest project count since Q1 2020, according to the recent Middle East Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE).
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The 966 – Episode #129, Saudi Film Industry Six Years after Theaters Re-Opened with Todd Albert Nims
- May 22,2024
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- SUSTG Team
Theaters are booming, the Saudi film industry is creating successful local content and all metrics are up for the sector. Todd Albert Nims, creator, director and producer, joins The 966 to share his perspective on all the exciting changes underway.
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Saudi Arabia Gets First Cannes Official Selection Slot With Drama ‘Norah’
- April 11,2024
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- SUSTG Team
Saudi Arabia has landed its first film in the Cannes Film Festival official selection with “Norah,” a drama by pioneering director Tawfik Alzaidi set in 1990s Saudi, according to reports.
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The PIF’s biggest event of the year in Riyadh, the latest on the Saudi peace plan, and alcohol in Saudi Arabia? — The 966 Episode 120
- January 30,2024
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- SUSTG Team
In episode 120, The 966 once again has on offer a menu of excellence discussing some of the most important topics happening in Saudi Arabia this week — a tough decision for the editorial team as Saudi Arabia continues to create headlines as it marches forward with economic and social reforms.
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MUST-READS
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Russia overtakes Saudi Arabia as China’s top oil supplier
Russia overtook Saudi Arabia to be China’s top oil supplier in the first two months of 2023, according to Chinese government data, as buyers snapped up sanctioned Russian oil at steep discounts. Arrivals from Russia totalled 15.68 million tonnes in January-February, or 1.94 million barrels per day (bpd), up 23.8 percent from 1.57 million bpd in the corresponding 2022 period, data from the General Administration of Customs showed on Monday.
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Opinion: China’s Saudi Iranian mediation spotlights flawed regional security policies
Support for militias “empowers complex networks of surrogates…that…become increasingly actors in their own right who disrupt post-conflict resolution and state building… Security assistance to non-state actors…does not contribute to building institutions in recipient states but exacerbates conflict polarization and division,” Mr. Krieg said in a just-published study of UAE policy in Yemen and Libya.
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Saudi National Interest Seen Behind Diplomatic Deal With Iran Via China
“The kingdom has huge projects and big investments and does not want escalation in the region,” said Hesham Alghannam, a Saudi international relations expert who has been involved over the past six years in back-channel talks with the Iranians, also known as track 2 diplomacy.
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Saudi National Interest Seen Behind Diplomatic Deal With Iran Via China
“The kingdom has huge projects and big investments and does not want escalation in the region,” said Hesham Alghannam, a Saudi international relations expert who has been involved over the past six years in back-channel talks with the Iranians, also known as track 2 diplomacy.
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Analysis: Frustrated Khamenei pushed for Saudi-Iran deal clinched in China
Eager to end its political and economic isolation, Iran had been trying for two years to restore ties with its long-time rival Saudi Arabia, an Arab heavyweight and oil powerhouse. Last September, Iran's Supreme Leader Ayatollah Ali Khamenei lost patience with the slow pace of bilateral talks and summoned his team to discuss ways to accelerate the process, which led to China's involvement, two Iranian officials told Reuters.
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The White House urges China to get Ukraine’s perspective on the war as Beijing eyes peacemaking role
The White House today offered robust endorsement of a prospective virtual meeting between China’s President Xi and Ukrainian President Volodymyr Zelensky, after the foreign ministers of China and Ukraine spoke. “We have long been encouraging President Xi to talk to President Zelensky,” National Security Council strategic affairs official John Kirby told reporters on a Zoom call today (March 16). “We think it would be a very good thing if the two of them talk.”
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Does China’s role in Saudi-Iran rapprochement represent a new order?
“I think the leadership there believes that this is a very important moment for Saudi Arabia as it emerges ... as a real leader in the world on many issues,” Westphal told CNBC’s Dan Murphy on Tuesday. “A constant struggle with Iran delays that and impedes the progress that they made.”
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U.S.-Saudi relations “better,” regardless of China-brokered Iran-Saudi deal
“We are in a better spot," a senior U.S. official said. "They’ve done some important things, and we’ve had good communication on some difficult issues from Yemen to 5G/6G technology to security coordination. It’s moving in a better direction."
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U.S.-Saudi relations “better,” regardless of China-brokered Iran-Saudi deal
The Biden administration has seen gradual but significant improvement in its relations with Riyadh, regardless of last week's China-brokered agreement between Saudi Arabia and Iran on reestablishing diplomatic relations, two senior U.S. officials told Axios. Why it matters: Relations between the U.S. and Saudi Arabia have been tense since the Biden administration assumed office.
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How China’s Saudi-Iran Deal Can Serve US Interests
Dig a little deeper, however, and the sky is not falling for Washington. On the contrary, while the deal may have temporarily damaged some of the United States’ interests in the region, the upside could significantly outweigh the downside, in both the short and the long terms.
- The Guardian - The Guardian view on Iran and Saudi Arabia: a cautious start
- Al-Arabiya - US rejects notion it is disengaged from Middle East after Saudi-Iran deal
- Barron's - Saudi Arabia and Iran Are Creating a New Regional Equilibrium. What It Means for Oil Markets.
- WSJ - Saudi Crown Prince Test Drives Nonaligned Foreign Policy
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