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Saudi non-oil sector to expand 6% in 2013
- November 25,2012
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- SUSTG Team
Saudi Arabia shows some tightness in the local financial system, reflecting a scarcity of corporate deposits, but this appears to be abating and might in any case reflect strong investment growth in the non-oil economy. Local firms continue to report strong growth in new orders, with exchange rate movements helping make non-oil exports more competitive. […]
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Saudi reforms detour through Vienna faith centre
- November 21,2012
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- SUSTG Team
Although launched by Riyadh and named the King Abdullah International Centre for Interfaith and Intercultural Dialogue (KAICIID), bin Muaammar stressed it is not a Saudi entity. “This is an international institution,” he said. “About 70 percent of the world’s religions are on its board. The centre will be a neutral place to exchange ideas.” In […]
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Saudi Arabia’s Power List – 2012
- November 19,2012
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- SUSTG Team
Welcome to the first Arabian Business Saudi Power List – our guide to the kingdom’s most influential movers and shakers. As the rest of the planet, from emerging to traditional markets, teeters on the brink of recession, the mood has never been more positive in Saudi Arabia. A high oil price has swelled the kingdom’s […]
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Regional e-commerce firms set sights on Saudi Arabia
- November 19,2012
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- SUSTG Team
Digital expert Omar Christidis, founder of ArabNet, the hub for Arab digital professionals and entrepreneurs, said that Saudi Arabia is currently the largest digital market in the MENA region – with almost 40 percent of all Arabic tweets, half of Wikipedia’s Arabic content and 35 percent of all Arabic content on the web coming from […]
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For Saudi Football, a Moment in the International Spotlight
- November 15,2012
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- Lucien Zeigler
Saudi Arabia’s national football team has had its ups and downs in the last decade, thus far struggling to make a name for itself as a contender in a world full of elite national teams. Nevertheless, the ups and downs of the Saudi program are closely followed by Saudis all over the world and has, […]
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Jadwa Investment – November 2012 Saudi Chartbook
- November 13,2012
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- SUSTG Team
Jadwa Investment’s Saudi Chartbook for the month of November 2012 assesses a number of key aspects of the Saudi economy including the real economy, bank lending, banking indicators, inflation, trade, oil, exchange rates, the TASI (Saudi Stock Market), sectoral performance, and third quarter earnings. To read the entire report in full as a PDF, click […]
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Saudi Arabia’s SABIC sets sights on U.S. shale gas boom
- November 13,2012
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- SUSTG Team
Saudi Basic Industries Corp (SABIC) is considering investing in the United States to capitalise on the shale gas boom there, its chief executive told Reuters on Monday. SABIC and other petrochemical producers in Saudi Arabia have been looking for additional gas supplies to fuel their expansion plans, with SABIC now casting its gaze overseas. “We […]
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Saudi Arabia Seeks $6.7 Billion of U.S. Transport Planes
- November 9,2012
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- SUSTG Team
Saudi Arabia plans to buy 20 C-130J military transport planes, five KC-130J refueling aircraft and related equipment from Lockheed Martin Corp. (LMT) valued at about $6.7 billion, the Pentagon said today in a statement.The Pentagon’s Defense Security Cooperation Agency notified Congress of the potential sale to Saudi Arabia, the agency said in a statement posted […]
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Vela-Bahri merger creates one of the world’s largest shipping firms
- November 6,2012
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- SUSTG Team
Vela International Marine Limited, a subsidiary of Saudi Arabian Oil Company, signed a landmark merger agreement with the National Shipping Company of Saudi (Bahri), resulting in the creation of one of the world’s largest shipping companies.The signing of the agreement was held Sunday and attended by executive officials of both parties including Khalid A. Al-Falih, […]
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Commentary: Saudi Arbitration Court in the UK?
- November 5,2012
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- SUSTG Team
In a recent Financial Times article Caroline Binham and Helen Warrell reported that, “Saudi Arabia will lobby the UK government as early as November to set up a confidential court in London that would settle multimillion pound commercial disputes arising from the Middle Eastern kingdom. The Saudis hope that a London-based arbitration centre would help counter investor […]
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MUST-READS
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Commentary: Is Saudi Arabia the Key to an Israeli-Palestinian Peace Agreement?
Israel and the Palestinians will not find a solution to their conflict without third-party mediation. Such a party is no longer the traditional arbiter, the US, but is now Saudi Arabia. The Saudis have created a promising geostrategic environment in the region, and have the means and the political clout to succeed where all others have failed.
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Lionel Messi explains why he chose Inter Miami over Barcelona, Saudi Arabia
It took months of negotiations with MLS, the Miami ownership, Adidas and even Apple getting involved in a creative pitch to bring Messi to Miami’s pitch. Apple — which is a broadcast partner of MLS — announced Tuesday that it will show a still-untitled four-part documentary series "featuring exclusive behind-the-scenes access to global superstar Lionel Messi. ... In his own words, Messi tells the definitive story of his incredible career with the Argentina national football team, providing an intimate and unprecedented look at his quest for a legacy-defining World Cup victory."
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Mitch McConnell doesn’t believe PGA Tour merger with Saudi-backed LIV Golf has ‘governmental concern’
Senate Minority Leader Mitch McConnell, R-Ky., doesn’t believe that the historic pro golf merger between the PGA Tour, Saudi Public Investment Fund (PIF), which runs LIV Golf, and the DP World Tour has any "governmental concern." "I don’t really have anything to say on that," he said, via Reuters, when asked about whether congressional oversight of the merger will occur. "It strikes me as not a governmental concern." The PGA Tour announced Tuesday that it would be merging with the PIF and DP World Tour under one new entity, saying the goal is to "unify the game of golf, on a global basis."
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Why Lionel Messi Chose Miami Over Riyadh
In fact, Messi’s expected contract with Inter Miami of the US’s Major League Soccer makes a lot of sense — professionally, personally and maybe even financially. Let me explain.
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Rory McIlroy says PGA Tour-LIV merger is going to be good for golf
McIlroy called the deal good for golf. “I look 10 years down the line, I think ultimately this is going to be good for the game of professional golf,” he said. “I think it unifies it and secures its financial future.”
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How the PGA Tour, LIV Merger Happened With Help From Saudi Wealth Manager
PGA board members Ed Herlihy and Jimmy Dunne initially met with Rumayyan and his associates in London at the end of April, where they talked extensively for the first time about a potential tie-up. A couple of weeks later, the discussions moved to Venice, where Herlihy introduced PGA Tour Commissioner Jay Monahan to Rumayyan. The pair hadn’t previously met in person, one of the people said.
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Lionel Messi to Inter Miami: MLS club set to sign Argentine superstar, beating Barca, Saudi Arabia, per report
The 35-year-old superstar officially leaves PSG this month when his contract expires after two seasons with the French giants. After spending his entire career with Barcelona, he made the jump to France after his beloved team could no longer afford him under La Liga's financial rules, seeing an end to an iconic era at the club with diminutive Argentina as the face, winning every prize imaginable more than once.
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US sanctions Chinese firms aiding Iran missile programme
The US Treasury said on Tuesday that the Chinese companies facilitated the transfer of sensitive technology including centrifuges for producing fuels and non-ferrous metals with potential military use to already-sanctioned Iranian government bodies and private companies closely involved in building the missiles.
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How a Dubai Casino Would Affect Real Estate Investment, and More Luxury News
More of the world’s most expensive jewels, artwork and collectibles are showing up in Dubai so that its growing number of wealthy residents can eyeball the products in person. “They want to see these stones without having to travel,” says Katia Nounou Boueiz, Sotheby’s head of UAE. “All these pieces go on to Hong Kong, New York—and then Dubai is now one of the stops.”
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MBS-Blinken meeting highlights Saudi Arabia’s new Middle East policy
Al-Ain media focused on discussions about economic cooperation, clean energy and technology. The report at AL-Ain also noted that the US had “discussed a comprehensive set of bilateral issues, such as the possibility of normalizing relations between the Kingdom and Israel, issues of Yemen, Sudan, and human rights.”
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