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Challenges Remain for Investment into Saudi Arabia as FDI Falls 60% in 2022
- April 4,2023
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- SUSTG Team
Foreign direct investment (FDI) into Saudi Arabia fell by almost 60% in 2022, the first annual drop in five years and the second largest drop in more than 15 years, according to new data.
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Honeywell to open state-of-the-art regional manufacturing center in Saudi Arabia’s King Salman Energy Park
- April 3,2023
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- SUSTG Team
Honeywell signed a deal to open an advanced regional manufacturing center at the King Salman Energy Park (SPARK) — Saudi Arabia’s new energy industrial zone, according to a press release.
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Top U.S. Commercial Officer in KSA James Golsen, U.S.-Saudi trade after the Boeing-Riyadh Airways deal, and experiencing Al-Ula
- March 31,2023
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- SUSTG Team
In Episode 80 of The 966 Podcast, Mr. James Golsen, Senior Commercial Officer for Saudi Arabia and Bahrain, discusses his work building U.S.-Saudi trade and business relations and his journey to the important post. The 966 hosts talk with James about his role building U.S.-Saudi trade relations and enhancing investment opportunities in Saudi Arabia. They also […]
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Kingdom Targets New ‘Underground River’ Longer than Nile to Address Water Needs
- March 30,2023
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- SUSTG Team
Saudi Arabia is planning to launch the world’s largest potable water project by digging a “river” four meters deep, 11 meters wide and 12,000 kilometers long, aimed at surpassing the Nile river, according to a local reporter and published in Arabian Business.
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Saudi World Cup Coach Hervé Renard, who Led Kingdom Past Champion Argentina in Qatar, to Exit
- March 29,2023
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- SUSTG Team
Hervé Renard has quit as coach of Saudi Arabia’s national team and is set to take over France’s women’s team, according to reports.
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Saudi Arabia to Develop Key Water Projects Worth $80 Billion to Enhance Access as Growth Booms
- March 27,2023
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- SUSTG Team
Saudi Arabia will invest $80 billion into key water projects in the coming years to support its economic growth and provide safe and equitable access to water for all citizens and residents, according to a report.
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Understanding the Saudi-Iran agreement with a trio of special guests: Saudi Embassy Spokesperson Fahad Nazer, CSIS’ Dr. Jon Alterman, and Saudi Foreign Policy Expert Dr. Aziz Alghashian
- March 24,2023
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- SUSTG Team
Saudi Arabia and Iran recently agreed to normalize ties between the two regional powers after seven years. The 966 speaks with three top voices to understand the deal and the potential road ahead for Saudi Arabia, Iran, China, the United States, and other regional and global players.
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F1 Returns to Jeddah, Saudi Arabia for Jeddah Grand Prix This Weekend
- March 17,2023
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- SUSTG Team
Saudi Arabia is set to host the Jeddah Grand Prix this weekend, which takes place at the Jeddah Corniche Circuit on Sunday, March 19.
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US Senate confirms Michael Ratney as next US ambassador to Saudi Arabia
- March 16,2023
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- SUSTG Team
Despite being nominated by US President Joe Biden in April 2022, Michael Ratney, has just been confirmed by the US Senate as the next US ambassador to Saudi Arabia.
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White House and Embassy of Saudi Arabia release statements lauding ‘landmark’ purchase of Boeing aircraft
- March 15,2023
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- SUSTG Team
White House Press Secretary Karine Jean noted that the agreements will anchor Saudi Arabia’s new international airline together with support for a new international airport. The partnership is another milestone in eight decades of cooperation between Saudi Arabia.
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BRICS Gets Boost as Saudi Arabia Joins Group of Emerging Nations
South Africa’s foreign minister said Saudi Arabia and four other countries have accepted the invitation to join the BRICS club of nations that was extended during a summit last year. Minister Naledi Pandor said that Russia, who takes over as chair of the bloc this year from South Africa, has received written interest from 34 countries who want to join. Saudi Arabia, Iran, Egypt, Ethiopia and the United Arab Emirates are now full members, she said. “Argentina has written to indicate that they will not act on this successful application by the previous administration to become full members of BRICS and we accept their decision,” Pandor told a press briefing in the capital, Pretoria, on Wednesday.
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Saudi Arabia’s economy contracts again, dragged by oil cuts
Saudi Arabia’s fourth-quarter real GDP fell 3.7% year-on-year, according to flash estimates published by the General Authority for Statistics on Wednesday. That’s a smaller drop than the 4.4% year-on-year slide in the third quarter.
The drop was attributed to a 16.4% decline in oil activities, while non-oil activities and government activities expanded by 4.3% and 3.1%, respectively, year-on-year. For the full year, Saudi Arabia’s economy shrank 0.9%, according to government data. -
Saudi Arabia hears dozens of countries critique its human rights record at the UN in Geneva
Saudi Arabia had its record on human rights including freedoms for women, prosecutions for freedom of speech, use of the death penalty and alleged killing of migrants at its border with Yemen critiqued at the United Nations on Monday. In the kingdom’s first formal review at the UN Human Rights Council since November 2018, the Saudi Arabia delegation said more than 50 reforms had since then been passed in favor of women. Delegates were told Saudi Arabia has abolished flogging as a punishment, that minors can no longer be executed, judges are independent and migrant workers are now better protected by law.
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Cutting-edge defense assets set to land in Saudi Arabia for defense show
The occasion will also include air displays of various combat aircraft, including the Calidus B250 light attack aircraft, Eurofighter Typhoon, Dassault Rafale C, and F-15s, taking center stage daily. The Pakistan Air Force will also make an appearance with three JF-17 Thunder multi-role combat aircraft. Furthermore, UAV capabilities will be on full display, featuring the Red Cat Teal2, Firejet M180, and Skydio X10D. The static display area will showcase over 50 fixed-wing and rotary aircraft, offering visitors an up-close look at the Cessna Caravan, Boeing Chinook, Airbus A320, A321, and Cougar helicopter, Sikorsky Seahawk and Blackhawk, Bombardier Global 6500, Embraer KC-390, and the classic Lockheed Martin C-130.
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Saudi Arabia asks Aramco to lower its maximum capacity target
Saudi Arabia's government on Tuesday ordered state oil company Saudi Aramco (2222.SE), opens new tab to halt its oil expansion plan and to target a maximum sustained production capacity of 12 million barrels per day, one million bpd below a target announced in 2020. Saudi Arabia has for decades been the holder of the world's only significant spare oil capacity, providing a safety cushion in case of major disruptions to global output such as those caused by conflict or natural disasters. In recent years, fellow OPEC member the United Arab Emirates has also built up its capacity.
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Saudi Arabia detains public servant on corruption charges
Royal Commission for Al Ula Chief Executive Amr bin Saleh Abdulrahman AlMadani is accused of abuse of authority and money laundering prior to joining the public sector, the Oversight and Anti-Corruption Authority (Nazaha) wrote on X late on Sunday.
AlMadani allegedly illegally secured contracts for a company he co-owns from a government research entity via a relative, who along with two other accused had also been charged, Nazaha said.AlMadani was also accused of recommending the same company he co-owns to the commission, which secured contracts with it worth 1.3 million riyals ($346,685), the government agency said. -
Saudi Arabia welcomes ICJ’s decision against alleged Israeli genocide in Gaza
The Saudi Foreign Ministry has welcomed the International Court of Justice's (ICJ) initial ruling, which addresses alleged genocidal practices and statements against Palestinians in Gaza.
The Ministry supports the decision and condemns Israeli occupation practices, as well as violations of the Genocide Convention. The Ministry also commended South Africa for initiating the lawsuit and urged the international community to intensify efforts to end violence in Gaza, protect Palestinians, and hold Israel accountable for alleged violations of international and humanitarian law. -
Saudi Arabia gears up for safe Hajj season with early security preparations
Saudi transport authorities have urged private sector institutions involved in the annual Hajj pilgrimage to initiate early security measures for the upcoming season.The instructions to transport agencies primarily focus on the carrying any explosive substances. A strict prohibition on the use of such substances in Mecca and Medina has been mandated for a month-long period, spanning from the 20th of Dhul Qadah to the 20th of Dhul Hajjah, coinciding with the Hajj season, Saudi news website Akhbar24 said.
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Real Madrid Target Mbappe Still Wanted By Saudi Arabia Confirms Prince
Saudi Arabia is still interested in signing Paris Saint-Germain forward and Real Madrid transfer target Kylian Mbappe, as confirmed by a member of its royal family Prince Abdullah Saad Abdulaziz Al Saud to Carre on YouTube. Mbappe becomes a free agent on June 30, and is expected to join Los Blancos if not extending his contract at the Parc des Princes. The Frenchman was involved in a 2023 tug-of-war with his current Qatari-owned club, which looked to sell him after he sent a letter explaining his intention not to agree fresh terms.
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Saudi Arabia to get first alcohol shop in more than 70 years
Saudi Arabia has said it will open a shop in Riyadh selling alcohol to a select band of non-Muslim expats, the first to open in more than 70 years. The clientele will be limited to diplomatic staff, who have for years imported booze in sealed official packages known as diplomatic pouches. Saudi officials said the shop would counter "the illicit trade of alcohol". Prohibition has been law since 1952, after one of King Abdulaziz's sons drunkenly shot dead a British diplomat.
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