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  • 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 […]

     
  • Jadwa September 2012 Saudi Chartbook – Inflation
     

    Jadwa Investment’s recently released Saudi Charbook for the month of September 2012 found that the Saudi economic activity in July experienced a “modest slowdown of economic activity…with indicators of consumer spending and PMI slowing on the back of a seasonal trend.” However, Jadwa notes that the “healthy underlying economic momentum remains in place.” Below is a snapshot of […]

     
  • President Obama’s Envoy to Mecca Islamic Summit Shares Views
     

    A little known detail about last month’s Extraordinary Islamic Solidarity Summit in Mecca was the presence of an American diplomat representing President Barack Obama to the 56-member Organization of Islamic Cooperation (OIC). The special summit, which met on August 14-15, 2012, was called by King Abdullah to take up crises, conflicts and serious issues affecting […]

     
  • Saudi real estate market poised for new boom
     

    New programmes and the new mortgage system — approved by the cabinet in July and expected to take force in the next few weeks — will contribute to decreased land prices, realtors said. Land prices are expected to drop by 20%, especially in the central, eastern and western regions, according to realtors. Residential land prices […]

     
  • Jadwa September 2012 Chartbook – Construction Indicators
     

    Jadwa Investment’s recently released Saudi Charbook for the month of September 2012 found that the Saudi economic activity in July experienced a “modest slowdown of economic activity…with indicators of consumer spending and PMI slowing on the back of a seasonal trend.” However, Jadwa notes that the “healthy underlying economic momentum remains in place.” Below is a snapshot of […]

     
  • Mitt Romney on Foreign and Middle East Policy
     

    This [US election] year is different. There is relatively little attention to issues outside America’s borders – only four percent of Americans “consider foreign affairs much of an issue in this year’s campaign” according to Foreign Policy.com.  The sluggish economy – taxes, unemployment, deficits, thorny domestic issues and “personality” questions dominate the campaigns. With the […]

     

MUST-READS

  • Israel and Hezbollah carry out new attacks amid fears of wider conflict

    Israel struck Hezbollah targets in southern Lebanon and its Iran-backed foe attacked military facilities in northern Israel on Tuesday, increasing fears of a full-blown conflict after Lebanon suffered its deadliest day in decades. Israel's military said it hit dozens of Hezbollah targets overnight, a day after carrying out airstrikes against the armed group which Lebanese authorities said killed 558 people, including 50 children and 94 women, and wounded 1,835. Tens of thousands more have fled for safety.

  • Climate goal to triple global renewable energy by 2030 within reach, IEA says

    A goal to triple global renewable energy capacity by 2030 and cut fossil fuel use is within reach, the International Energy Agency said in a report on Tuesday, but will require a huge push to unlock bottlenecks such as permitting and grid connections. The report comes as leaders from government and business come together at New York Climate week to try to drive forward action against climate change.

  • Neymar backs Saudi Arabia’s uncontested 2034 World Cup bid

    Al Hilal forward Neymar has thrown his support behind Saudi Arabia's bid to host the 2034 World Cup, saying the event there would be "very exciting for everyone." FIFA is expected to rubber-stamp Saudi Arabia as host in an uncontested vote by the governing body's 211 member federations before the end of the year, with the Gulf nation the only candidate to enter the contest.

  • Saudi Arabia emphasizes the importance of Lebanon’s stability and sovereignty

    The Saudi Ministry of Foreign Affairs expressed grave concern over the ongoing security developments in Lebanon, reiterating the risks associated with the escalation of violence in the region and its potential impact on regional security and stability. According to a statement from the ministry, Saudi Arabia urges all parties to exercise maximum restraint and to distance the region and its people from the dangers of war.

  • Saudi FM calls for UN reform

    The UN system must be reformed to create a fairer and more equitable world order, Saudi Arabia’s foreign minister said on Monday. Addressing the UN at its headquarters in New York City, Prince Faisal bin Farhan warned that international institutions are “unfit for purpose,” as demonstrated by the UN’s inability to hold Israel accountable for “all the atrocities it has committed.” He was speaking a day after UN member states voted to adopt the “Pact for the Future,” a campaign to bring multilateralism “back from the brink” and galvanize support for achieving the organization’s Sustainable Development Goals.

  • Saudi Aramco to raise up to $3 bln in two-tranche dollar Islamic bonds, sources say

    Saudi Aramco (2223.SE), opens new tab is planning to raise up to $3 billion in five and 10-year U.S. dollar-denominated sukuk, or Islamic bonds, according to two sources with direct knowledge of the matter and a term sheet reviewed by Reuters on Tuesday. The sources could not be named as the information on the deal size had not yet been made public. Aramco, mostly owned by the Saudi Arabian government, did not immediately respond to a request for comment.

  • Saudi real estate: Dar Global, Mouawad announce MASSIVE $235mn luxury residential project in Riyadh

    The development, located near the World Expo 2030 site in the north of the city, marks Dar Global’s entry into the Saudi market and Mouawad’s expansion into luxury real estate. The project, set for completion in Q4 2026, will comprise 200 residential villas designed to blend contemporary aesthetics with timeless elegance. It aims to become one of Riyadh’s most prestigious addresses, catering to discerning buyers seeking sophisticated living spaces.

  • Saudi Arabia ranks 1st for government strategy in Global AI Index 2024

    Saudi Arabia has retained its top ranking for Government Strategy in 2024’s Global AI Index compiled by Tortoise Media, meanwhile the Kingdom shot up in the overall index from 31st place to 14th place.

  • Revealed: 100 best places for women to work in the GCC

    The 100 best places for women to work in the GCC have been revealed by a global research, training and consultancy firm. Great Place to Work revealed the top workplaces for women in 2024, breaking down the list to include 25 large, 25 medium and 50 small companies with outstanding female-friendly workplace culture across the region.

  • Saudi Arabia’s fiscal breakeven oil price is rising fast. What will the kingdom do about it?

    In May of 2023 the International Monetary Fund forecast the kingdom’s breakeven oil price at $80.90 per barrel, which moved it back into a fiscal deficit following its first surplus in nearly a decade. To be sure, the fiscal breakeven isn’t the price at which Saudi Arabia makes a profit on crude but the average oil price it needs to balance the books. The IMF’s latest forecast, in April, put that breakeven figure at $96.20 for 2024; a roughly 19% increase on the year before, and about 32% higher than the current price of a barrel of Brent crude, which is trading at around $73 as of Wednesday afternoon.