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Despite Downturn, Kingdom Presses Ahead with Ambitious Goals for Saudi Capital Riyadh
- July 7,2020
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- SUSTG Team
Saudi Arabia is seeking to “double the size and population” of its capital Riyadh in the next decade, Reuters reports, citing comments from Fahd Al-Rasheed, president of Riyadh’s royal commission. Al-Rasheed said the government has “already committed some $266.6 billion for ongoing and new projects as part of total investments of some $800 billion over the […]
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With Demand Recovery Accelerating, Oil Markets Tick Up
- June 19,2020
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- SUSTG Team
Stronger consumption of oil globally pushed markets higher on Friday as countries move forward with opening back up despite concerns about the Coronavirus pandemic.
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SAMA Uses Blockchain for Local Deposits of Announced Funds
- June 9,2020
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- SUSTG Team
The Saudi Arabian Monetary Authority (SAMA) used blockchain technology to deposit part of the liquidity that SAMA had previously announced to be injected into the banking sector “as part of SAMA’s actions aimed at enhancing the sector’s capabilities to continue its role in providing credit facilities,” the organization announced.
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Analysis: With Saudi Arabia’s PIF Investment in Two Canadian Energy Companies, Strategic Investment Shift Continues
- June 3,2020
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) invested in two Canadian energy companies in the first quarter of 2020, expanding its holdings in the sector likely at lower-than-usual valuations as oil prices hit cyclical lows this year.
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WTI, Brent set for biggest monthly gains in years
- May 29,2020
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- SUSTG Team
Despite a fall today, crude oil prices are set for their biggest monthly gain in years after historic production cuts and a rebound in demand. The U.S. crude benchmark (WTI) has jumped almost 80 per cent in May, Bloomberg reports, the biggest gain in exchange data compiled by Bloomberg going back to 1983. That comes after […]
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U.S., Saudi Forces Conduct Joint Military Exercises on Saudi Islands
- May 27,2020
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- SUSTG Team
Forces from the United States and Saudi Arabia are conducting “routine and joint sustainment training” on and around Karan and Kurayn islands, Kingdom of Saudi Arabia this week, according to a statement from the U.S. Naval Forces Central Command.
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Saudi Aramco’s Share Price Bounces Back to Pre-Oil Price Fall Levels as Crude Prices Rebound
- May 20,2020
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- SUSTG Team
Shares in Saudi Aramco bounced back to pre-oil price war levels after gaining as much as 3.09% on Tuesday, an encouraging sign that oil demand may be gaining again and a global glut of crude is beginning to clear.
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Saudi Embassy Issues Statement on Investigation Findings of the December 6th Pensacola Naval Air Station Attack
- May 19,2020
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- SUSTG Team
The Saudi embassy in Washington, D.C. issued a statement following yesterday’s release of findings by the Justice Department and the FBI, in which Attorney General William P. Barr and FBI Director Christopher Wray announced “significant developments” in the FBI’s investigation of the December 6, 2019 shooting at Naval Air Station Pensacola that killed three U.S. sailors and […]
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Sports Diplomacy in the Middle East: King Faisal Center for Research and Islamic Studies to Host Live Broadcast May 19th
- May 16,2020
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- SUSTG Team
The King Faisal Center for Research and Islamic Studies (KFCRIS) will host a live broadcast on Tuesday, May 19th at 3:00pm Washington, D.C. time (10:00 pm in Riyadh) on Sports Diplomacy in the Middle East, featuring speakers HRH Prince Faisal bin Bandar bin Sultan, president of the Saudi Arabian Federation for Electronic and Intellectual Sports (SAFEIS). The event […]
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‘Pockets of Demand’ Seen Returning for Oil as Suppliers Curb More to Boost Price
- May 12,2020
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- SUSTG Team
Areas of increased demand for oil are emerging as suppliers, lead by Saudi Arabia, cut additional output in hopes of boosting crude’s price, according to reports.
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MUST-READS
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U.S.-Saudi Tensions Ease as Concerns About Iran Grow
The emerging Saudi-U.S. thaw comes as the Biden administration looks to reshape the U.S. military presence in the Middle East by stitching together a security umbrella stretching from Israel through the Persian Gulf. Concerns about Iran have grown since Russia began using Iranian-made drones to attack Ukraine, with the White House warning that the two American adversaries are developing a full-scale military partnership.
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U.S., Turkey target financial network linked to Islamic State
The U.S. Treasury Department said on Thursday it was taking joint action with Turkey against a network it said played a key role in money management, transfer and distribution for the Islamic State militant group operating in Iraq and Syria. Turkey's foreign affairs ministry said on Twitter the assets of seven individuals or legal persons involved in financing for the group were frozen.
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U.S. Special Envoy for Yemen Lenderking’s Travel to Jordan and Saudi Arabia
U.S. Special Envoy for Yemen Tim Lenderking traveled to Jordan and Saudi Arabia on January 3 to advance UN-led peace efforts and to support the Yemeni parties to reach an agreement on a truce extension and expansion, for the sake of all Yemenis. A durable ceasefire and an inclusive Yemeni-led political settlement are the only path forward to end the conflict and reverse Yemen’s dire humanitarian crisis. We urge the Houthis to cooperate with the UN and listen to Yemeni calls for justice, accountability, and peace. Yemenis deserve to determine the future of their country, and the United States remains committed to supporting a sustainable end to over eight years of conflict.
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Chart: Tesla Still Dominates the U.S. EV Market
With all the negative headlines surrounding Tesla and its increasingly controversial CEO Elon Musk in recent weeks, it’s easy to forget that the company’s cars are still very popular. While it’s too early to say whether Musk’s Twitter takeover and the turbulences that came with it will have a significant negative impact on demand for Tesla’s cars, its current position as the maker of the most popular electric cars in the United States and in many parts of the world is clear.
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German Facility, Built at Breakneck Speed, Accepts Gas Shipment From U.S.
Germany’s newly constructed liquefied-natural-gas terminal received its first full cargo from the U.S. on Tuesday, as Berlin races to shore up its supply after the end of its decadeslong energy relationship with Russia. The shipment arrived at the LNG import terminal in the port town of Wilhelmshaven on the North Sea, a facility that was built at a breakneck speed in less than a year to help Germany avert an energy shortage.
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Soaring Costs Threaten U.S. Offshore-Wind Buildout
“We’re seeing unexpected and unprecedented macroeconomic challenges,” said David Hardy, chief executive of the Americas for Danish power company Ørsted A/S, which is developing about five gigawatts of offshore wind projects off the coast between Rhode Island and Maryland.
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U.S. Scrambles to Stop Iran From Providing Drones for Russia
In interviews in the United States, Europe and the Middle East, a range of intelligence, military and national security officials have described an expanding U.S. program that aims to choke off Iran’s ability to manufacture the drones, make it harder for the Russians to launch the unmanned “kamikaze” aircraft and — if all else fails — to provide the Ukrainians with the defenses necessary to shoot them out of the sky.
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U.S. population growth inches higher in 2022, driven by immigration
The country's population expanded 0.4% this year to 333.3 million after nearly stagnating at 0.1% in 2021 when the coronavirus exacerbated a trend of more subdued growth in prior years.
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How Much Aid Has the U.S. Sent Ukraine? Here Are Six Charts.
In 2022, the Biden administration and the U.S. Congress have directed nearly $50 billion in assistance to Ukraine, which includes humanitarian, financial, and military support, according to the Kiel Institute for the World Economy, a German research institute. The historic sums are helping a broad set of Ukrainian people and institutions, including refugees, law enforcement, and independent radio broadcasters, though most of the aid has been military-related. Dozens of other countries, including most members of the North Atlantic Treaty Organization (NATO) and the European Union, are also providing large aid packages to Ukraine.
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U.S. Senate passes record $858 billion defense act, sending bill to Biden
The U.S. Senate passed legislation on Thursday authorizing a record $858 billion in annual defense spending, $45 billion more than proposed by President Joe Biden, and rescinding the military's COVID vaccine mandate. Senators supported the National Defense Authorization Act, or NDAA, an annual must-pass bill setting policy for the Pentagon, by an overwhelming 83-11 bipartisan majority. The no votes came from a mix of liberals who object to the ever-rising military budget and fiscal conservatives who want tighter controls on spending.
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