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Hyundai Motor Joins EV Car Race in Saudi Arabia with Planned Factory; Signs MOU with Saudi Ministry of Industry and Mineral Resources
- January 3,2023
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- SUSTG Team
South Korea’s Hyundai Motors has joined the race to build EV cars in Saudi Arabia, signing a memorandum of understanding with Saudi Arabia’s Ministry of Industry and Mineral Resources to build a factory for the complete assembly of electric cars in the Kingdom, the Saudi Press Agency (SPA) reported.
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Saudi Arabia, Japan Eye Increased Trade and Cooperation at Riyadh Investment Forum
- December 28,2022
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- SUSTG Team
Saudi Arabia and Japan signed several new agreements and understandings at a Saudi-Japan investment forum to boost trade and relations between the two nations, according to reports.
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Germany Sets Sights on Importing Saudi Ammonia to Make Hydrogen by 2026
- December 20,2022
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- SUSTG Team
European economic powerhouse Germany has said it hopes to import green ammonia from Saudi Arabia at a terminal to be opened in 2026, according to a report in the UAE-based The National.
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Middle East KFC Operator, Americana, Sees Successful Debut in First Dual Listing in the Gulf
- December 13,2022
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- SUSTG Team
The Middle Eastern operator of KFC and Pizza Hut outlets, Americana Restaurants International Plc, climbed in its debut after raising $1.8 billion in an initial public offering, pulling off the first-ever dual listing in Riyadh and Abu Dhabi, Bloomberg reports.
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Saudi Arabia’s PIF Buys 9.5 Percent Stake in German Renewables firm Skyborn
- December 12,2022
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- SUSTG Team
Saudi Arabia’s Public Investment Fund has acquired a 9.5 percent stake in German renewable firm Skyborn Renewables, as the growing sovereign wealth fund of the Kingdom continues to expand with international investments.
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Adding to Growing List of Natural Treasures, ‘Desert Fish’ Rock Formation Discovered in Al-Ula
- December 7,2022
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- SUSTG Team
The recent discovery of a giant fish-shaped rock emerging from the sands of the Saudi desert near Al-Ula adds to a growing collection of natural wonders in Saudi Arabia.
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Virginia-Based Bechtel Corp. Wins Contract to Provide Project Management Consultancy Services for NEOM’s TROJENA
- December 5,2022
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- SUSTG Team
Virginia-based Bechtel Corporation has been appointed as the Project Management Consultant for TROJENA, a year-round mountain destination in the NEOM region of northwest Saudi Arabia, the company confirmed in a press release.
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An ‘Aerotropolis’: Saudi Arabia Plans to Build One of the World’s Largest International Airport’s in Riyadh Named After King Salman
- November 28,2022
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- SUSTG Team
Saudi Arabia plans to build one of the world’s largest airports in the capital Riyadh, named after King Salman, which will be capable of handling 185 million passengers a year and eventually powered by renewable energy, according to a statement from Saudi Arabia’s Public Investment Fund and reported widely by news outlets.
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Data Show Foreign Direct Investment Inflows into Saudi Arabia Falls 85% in Second Quarter on 2021 Aramco Deal
- November 15,2022
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- SUSTG Team
Saudi Arabia recorded second-quarter foreign direct investment (FDI) inflows down 85% year on year, an investment ministry report showed on Tuesday, with the reason for the significant drop attributed to the closing of state-owned Saudi Aramco’s IPO deal in the second quarter of 2021.
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Crown Prince Heads to G20 in Indonesia as Chinese Leader Xi Jinping Reportedly Eyes December for Saudi Visit
- November 14,2022
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- SUSTG Team
Crown Prince Mohammed bin Salman of Saudi Arabia will represent the Kingdom at the G20 in Indonesia at this year’s meetings, and will visit other Asian countries as part of the trip, state news agency SPA reported.
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MUST-READS
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More Saudi Universities Ranked Highly by UK’s Times Higher Education
The UK-based Times Higher Education (THE) has listed 15 Saudi universities as among the world's highest ranked institutions. The number is an increase from just 10 in 2021, hence making Saudi Arabia one of two nations in the region, including Egypt, to achieve higher rankings. For the year 2022, Saudi Arabia's institutions earned over 12 points higher compared with the 2018 edition.
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The UN Resolution on Ukraine: How Did the Middle East Vote?
During the session, members voted overwhelmingly (141-5) to pass a resolution denouncing the invasion and demanding that Moscow withdraw its military presence. Thirteen countries in the Middle East and North Africa voted in support of the measure, one voted against it, four abstained, and one did not vote
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Special briefing: The Middle East and the Russian Invasion of Ukraine
Arab governments are divided into three camps over the Russian invasion of Ukraine: the pro-Russia camp, which unsurprisingly includes Syria, that was quick to recognize the independence of the two breakaway separatist areas in eastern Ukraine and expressed readiness to join Russia’s fight; the anti-invasion camp, which includes Lebanon and Kuwait; and the fence-sitters, which include the regional powerhouses Saudi Arabia, the United Arab Emirates (UAE), and Egypt.
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US and allies agree to release 60 million barrels of oil from their reserves as Russian invasion of Ukraine causes price spike
Half of that total -- 30 million barrels -- will come from the US Strategic Petroleum Reserve, and the other half will come from allies in Europe and Asia. Those other allies include Germany, the United Kingdom, Italy, the Netherlands and other major European countries, as well as Japan and South Korea.
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Russia-Ukraine war: ‘First footage ever’ shows Turkish drone strike Russian forces
The video, published on the Facebook page of the Ukraine forces' commander-in-chief, described the strike as having taken place in the "Chornobayivka, Kherson region", in southern Ukraine. The caption read "welcome to hell!".
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How Russia’s invasion of Ukraine will impact energy markets
The Gulf states are better insulated from trade disruption than the rest of MENA. Russia accounted for less than 1% of the UAE's non-oil exports last year and just 1.5% of its imports. Trade ties with Saudi Arabia, the region's largest economy, were as modest. The most important is Russian and Ukrainian exports of wheat and commodities like palladium.
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Gulf states’ neutrality on Ukraine reflects deeper Russian ties
Both the UAE and Saudi Arabia believe successive US administrations have been disengaging from the Middle East. They have been privately expressing their disgruntlement with US policies since former president Barack Obama was perceived to have ignored the interests of long-term Arab partners during the 2011 popular uprisings and when he signed up to the 2015 nuclear deal with Iran.
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Ukraine vs Russia – Military in Numbers
Russia far outstrips Ukraine in military size, expenditures and equipment.
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Ukraine and oil markets: how will Saudi Arabia and OPEC+ respond?
A look at the oil market and Saudi oil exports as the Russian invasion in Ukraine rages. Where is Saudi Arabia’s oil going now, and what’s next for energy markets? With oil now headed over $100 a barrel on Brent and possibly even higher as the situation in Ukraine deteriorates, Washington is already in close coordination with Saudi Arabia on energy markets. Russia of course is a big player in the oil markets – making up the “plus” in the new market-setting cartel “OPEC+,” which adds a layer of complexity to the crisis in Ukraine and as as sanctions against Russia start to ratchet up, although the West is not sanctioning the Russian oil sector yet.
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Ukraine’s Zelenskyy ups pressure on EU with plea for immediate membership
“We ask the European Union for Ukraine’s immediate accession via a new special procedure,” he said, speaking on his Telegram channel as fighting with Russian troops continued across the country. “Our goal is to be together with all Europeans and, most importantly, to be on an equal footing. I’m sure it’s fair. I’m sure it’s possible.”
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