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Saudi Aramco reports 2019 results in ‘difficult macro environment’
- March 16,2020
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- SUSTG Team
Saudi Aramco announced its full-year 2019 financial results, delivering “strong profits and dividends despite a lower price environment and challenging margins in refining and chemicals,” the company said in a press release.
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Saudi Arabia Postpones Red Sea Festival, Takes Other Precautions Against COVID-19
- March 4,2020
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- SUSTG Team
Saudi Arabia is taking unprecedented steps to curb the spread of the Coronavius, or COVID-19, in the Kingdom, announcing that it would suspend the upcoming Red Sea Film Festival after announcing a suspension of the Umrah religious pilgrimage for its citizens and residents.
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Saudi Arabia Continues with Cautious Path on Coronavirus; King Salman, Xi Jinping Speak by Phone
- February 6,2020
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- SUSTG Team
Saudi Arabia continued to take precautionary measures to prevent the arrival and spread of Coronavirus in the Kingdom as King Salman and China’s Xi Jinping spoke by phone today to discuss the outbreak, according to reports.
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KSA sets air traffic records
- July 19,2024
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- SUSTG Team
Saudi Arabia has witnessed remarkable growth in its air traffic during the first half of 2024, according to the General Authority of Civil Aviation (GACA). The Kingdom has reported a significant growth in passenger traffic, flights, air cargo, and connectivity.
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Already a Riyadh Centerpiece, KAFD CEO Gautam Sashittal Discusses Future Plans
- March 14,2024
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- SUSTG Team
Gautam Sashittal, CEO of King Abdullah Financial District Development and Management Company (KAFD DMC), sits with Imogene Lillywhite of Zawya for an extensive interview outlining what is next for the exciting city hub.
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Riyadh Air Makes Waves at Aviation Festival of Asia 2024
- February 28,2024
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- SUSTG Team
New Saudi airline Riyadh Air is touting its new offering at an industry event in Asia, with the CEO and COO giving public appearances and with it a glimpse into the plans and aspirations of the startup airline.
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Al-Falih Says Vision 2030’s Impact on Saudi Economy is Visible in 66% Increase in GDP
- December 12,2023
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- SUSTG Team
Saudi Arabia’s Minister of Investment, HE Khalid Al-Falih, said that the Kingdom’s gross domestic product (GDP) has increased by 66 percent since the launch of Saudi Arabia’s Vision 2030.
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Saudi Arabia Enters Recession Now, Report from Capital Economics Says, but Non-Oil Economy Continues to Shine
- August 2,2023
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- SUSTG Team
Saudi Arabia has entered a recession, a report from Capital Economics said, as oil production cuts designed to prop up prices hurt the Kingdom’s bottom line – but the Kingdom’s non-oil economy continued to grow at a robust pace.
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Saudi Arabia’s Receipts from Oil Sales Abroad Down in May, Lowest in Over a Year – Report
- July 25,2023
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- SUSTG Team
Saudi Arabia’s leadership in OPEC+ with voluntary cuts to production has proven to be costly, sending its receipts from oil sales abroad down by a third, to its lowest in over a year, according to a report in Bloomberg, which cited the Kingdom’s General Authority for Statistics (GASTAT).
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Saudi Arabia Defends Oil Cuts with Russia, Vows to do ‘Whatever Necessary’ to Support Oil Markets
- July 6,2023
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- SUSTG Team
Saudi Arabia’s energy minister Prince Abdulaziz bin Salman defended Riyadh and Moscow’s recent oil cut decisions on Wednesday, which caused only a small, short-term increase in the price of Brent crude as the market shrugged at the move.
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MUST-READS
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The US and China are back to their pre-pandemic GDP per capita
Different countries’ Covid-hit economies are recovering at different paces. China returned to its pre-pandemic GDP per capita halfway into 2020. South Korea, Russia, and the US weren’t far behind, recovering pre-pandemic around the middle of 2021. A further 15 nations are expected to have returned to pre-pandemic levels by the end of this year, two years after the virus emerged.
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Saudi Arabia pips Russia to be China’s biggest oil supplier in 2020
Saudi shipments to China in 2020 were rose 1.9 percent from a year earlier to 84.92 million tons, or about 1.69 million bpd, data from the General Administration of Chinese Customs showed. Russia was a close second with shipments of 83.57 million tons, or 1.67 million bpd, up 7.6 percent from 2019, the data showed.
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Peace with Russia, China ‘Fraying at the Edge,’ Milley Tells Graduating Cadets
“The country that masters new technologies, combines them with doctrine and develops leadership to take advantage of them. The side that does that best will have a decisive advantage at the start of the next war,” Milley told the graduates.
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US general: As US scales back in Mideast, China may step in
While traveling through the Middle East over the past week, Marine Gen. Frank McKenzie, who heads U.S. Central Command, fielded a persistent question from the military and political leaders he met: Is the U.S. still committed to their country and the region, and what more support can they get.
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Saudi Arabia holds spot as China’s top crude supplier in April, UAE imports plunge
China's imports from Saudi Arabia slowed in April but the kingdom retained its position as China's top supplier of crude oil for an eighth consecutive month, customs data showed on Thursday, while arrivals from the United Arab Emirates plunged.
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Perspective: What to Make of the Iran-China Deal
It was announced on March 27 2021 that China and Iran had signed a 25-year strategic deal, including bilateral cooperation in defense, deepened commercial ties, and increased oil sales. Although the full details of the deal have yet to come to light, it is clear that it is a massive watershed in Chinese-Iranian relations. Moreover, despite some assertions that the deal was caused by the Trump administration’s sanctions policy, it should be noted that the groundwork was laid in 2016, when the Obama-era JCPOA remained in effect.
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Top Senate Dem quietly inserts Iran poison pill into China bill
Proponents of diplomacy with Iran say the measure may have been meant to complicate the ongoing talks in Vienna
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China condemns bombing of Pakistan hotel hosting ambassador
At least five people were killed and 12 injured in the attack. A spokesman, Wang Wenbin, said the Chinese ambassador and his team were not in the hotel when the blast happened, and that no Chinese citizens were hurt.
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Treasury-Buying Spree of $17 Billion Has UAE Eclipsing China
The United Arab Emirates went on its biggest Treasury-buying spree on record in February, purchasing more of the safe-haven securities than China in one of the worst months for U.S. debt markets in years. The Gulf nation, OPEC’s third-biggest crude producer, raised its stockpile by about $17 billion to $50.6 billion, making it the largest buyer after the U.K. that month, according to U.S. Treasury Department data. A spokesperson for the UAE central bank declined to make any immediate comment Wednesday.
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How China and Russia are using ‘vaccine diplomacy’ to enhance influence in the Middle East
On the one hand, Israel is not using China’s vaccine, noted Roie Yellinek, a non-resident scholar at the Middle East Institute and a research associate at the Begin Sadat Center for Strategic Studies. This means that Beijing is not allowing Israelis to enter its territory without quarantine since Chinese authorities do not recognize the Pfizer and Moderna vaccines.
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