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Land Tax Finalized: 2.5% Annual Fee on Property Approved in Cabinet Session Chaired by King Salman
- November 23,2015
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- SUSTG Team
Saudi Arabia’s cabinet, in a meeting chaired by King Salman, finalized a 2.5% fee on undeveloped land within city limits intended for residential or commercial use, according to the SPA and reports. Property experts told the Saudi Gazette that the fee could raise up to $13 billion (SR50 billion) worth of revenues annually for the government. The […]
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Saudi Forces Train to Fight in Rugged Mountain Terrain as War in Yemen Continues
- November 19,2015
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- SUSTG Team
Military personnel from Saudi Arabia were photographed by the official Saudi Press Agency (SPA) training in remote mountain terrain as the battle against the Houthi rebels in Yemen continues. Victory has remained elusive for the Saudi-led coalition fighting in Yemen, but steady gains on the back of coalition airstrikes have turned the tide in the […]
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Saudi Shoura Council Approves Tax on Vacant ‘White Properties’ in Saudi Arabia
- November 17,2015
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- SUSTG Team
Saudi Arabia’s Shoura Council has approved a plan to tax landowners on vacant properties following an earlier Saudi Cabinet decision to pursue a tax on so-called ‘white properties.’ The plan was approved by Saudi Arabia’s King Salman in March and the issue was sent to the Shoura council to be voted upon. It still awaits […]
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KAUST Announces New Partnership with Dow, Launches Venture Capital Fund with ICD
- November 13,2015
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- SUSTG Team
Saudi Arabia’s King Abdullah University of Science and Technology (KAUST) announced two new partnerships this week, including a R&D agreement with Dow Chemical and the creation of a venture capital fund with the Islamic Corporation for the Development of the Private Sector (ICD). The university’s campus is now the future home of the new Dow Middle East […]
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IEA 2015 Report: Oil Likely to Rise to $80 by 2020, but Risks for ‘Dependency’ on Low-Costs Producers Heightened
- November 11,2015
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- SUSTG Team
Consumers stand to benefit from an extended period of lower oil prices, but a prolonged period would “trigger energy-security concerns by heightening reliance on a small number of low-cost producers, or risk a sharp rebound in price if investment falls short,” the International Energy Agency (IEA) said in its 2015 World Energy Outlook publication (WEO-2015). […]
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King Salman Tops Region’s Most Powerful in Latest Forbes List following Eventful First Year
- November 6,2015
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- Lucien Zeigler
Forbes magazine has named Custodian of the Two Holy Mosques HRH King Salman as the most powerful personality in the Arab world in the magazine’s most recent list for 2015. Russian President Vladimir Putin (No. 1) takes the top spot out of 73 on Forbes’s seventh annual ranking of “The World’s Most Powerful People.” In a curious decision by […]
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Al-Jubeir: Yemen’s War in the ‘Final Stage’; But Victory May Still Prove Elusive
- November 3,2015
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- SUSTG Team
Saudi Arabia’s Foreign Minister Adel Al-Jubeir said that the Saudi-led coalition battling the Houthi rebels in Yemen is entering its final stages. “I am confident that the Yemeni conflict has entered its final stage, and I’m optimistic,” Al-Jubeir said. “There are indications that the war in Yemen is entering a final phase. The legitimate government […]
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Consumers in Saudi Arabia Unaffected by Slump in Oil Price, Government Fiscal Policy Shifts
- November 2,2015
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- SUSTG Team
Consumers in Saudi Arabia are thus far reportedly feeling few effects of the fall in oil prices on the broader Saudi economy, Bloomberg reports, though the government is taking measures to curb spending and adjust its fiscal policy to new realities. “It’s Saudi policy in action,” writes Bloomberg. “When the revenue slows down, as it’s doing […]
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In First Interview as Capital Markets Authority Chairman, Mohammed Al-Jadaan Indicates Willingness to Open Stock Market to Wider Foreign Investment
- October 21,2015
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- SUSTG Team
Saudi Arabia would be open to relaxing its rules on foreigners investing directly in its stock market to help it get included in global indices, the chairman of the Capital Market Authority told Reuters. In his first interview with international media, Al Jadaan told Reuters that “[o]ne of our objectives is to ensure we are […]
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Saudi Prince Turki al-Faisal Outlines Saudi Foreign Policy Principles, Bids Heartfelt Farewell to Late Brother at AUSPC Keynote
- October 19,2015
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- SUSTG Team
In remarks to attendees at the Arab-US Policymaker’s conference in Washington, D.C. last week, HRH Prince Turki al-Faisal outlined a Saudi foreign policy with three central pillars before paying a heartfelt tribute to his brother, the former foreign minister who passed away earlier this year. The remarks, included below, framed Saudi foreign policy around unity, […]
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MUST-READS
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AfghanistanAfghanistan Loses 42,000 Troops in Crackdown on ‘Ghost Soldiers’
The 270-page report states that 6,445 enemy-initiated attacks, or EIAs, occurred between March 1 and May 31, a 9% increase over the previous quarter. More than half of the attacks were in five of Afghanistan's 34 provinces -- Helmand, Badghis, Faryab, Herat and Farah.
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Islamic StateUN Experts: Islamic State Down But Not Out
After being ousted in March from Baghuz, its last stronghold in Syria, the leadership of IS now “aims to adapt, survive, and consolidate in the core area and to establish sleeper cells at the local level in preparation” for a comeback, the report said.
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Arabia FoundationArabia Foundation think tank shuts down in Washington
The Arabia Foundation was founded in 2017, with a goal of covering Middle East politics and socio-economics, with a particular focus on the Arabian Peninsula. Mr Shihabi, a former banker, is known as a vocal defender of Saudi policy on Twitter and in the US capital.
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Drone JammerThis Is the ATV-Mounted Jammer That Took Down an Iranian Drone
The U.S. Marine Corps used a new portable jammer system last week to jam an Iranian unmanned aerial vehicle, forcing it to pitch into the sea. The new Light Marine Air Defense Integrated System (LMADIS) jams the signal between drones and their operators, leaving them at the mercy of physics, and inevitably, gravity.
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U.S.-IranU.S. Warship ‘May Have’ Brought Down A 2nd Iranian Drone, General Says
Defense Department officials also said that in addition to the unmanned aircraft, the USS Boxer was forced to contend with at least one Iranian helicopter and several fast boats that moved toward the ship on Thursday morning.
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IraqU.S., Iran May Fight in Iraq After Tanker Attacks, Downed Drones
Drones have been downed and tankers attacked in the Persian Gulf as U.S.-Iran tensions raise fears of war around a critical oil chokepoint. But any conflict between rivals might actually start in the one country where both sides have forces on the ground: Iraq. After two wars with America since 1990, a brutal civil conflict and the rise of Islamic State more recently, about 5,200 U.S. troops are stationed in Iraq -- amid thousands of Iranian-backed Shiite militias, controlled by officials in Baghdad sympathetic to Tehran.
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Oil DemandExclusive: IEA revising oil demand growth forecast down on slowing economy
The International Energy Agency (IEA) is reducing its 2019 oil demand forecast due to a slowing global economy amid a U.S.-China trade spat, its executive director said on Thursday.
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JordanJordan appoints new ambassador to Qatar, two years after downgrading ties
Jordan appointed a new ambassador to Qatar on Tuesday, a step toward restoring normal relations two years after it withdrew its ambassador in solidarity with Gulf Arab allies who severed ties with Doha.
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YemenSaudi Arabia moves to secure Yemen Red Sea ports after UAE drawdown
Saudi Arabia’s military in Yemen has moved in to secure two strategic Red Sea ports and the Bab al-Mandeb Strait after its leading ally the United Arab Emirates substantially reduced its presence there, four sources familiar with the matter said.
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Yemen Civil WarUAE troop drawdown in Yemen was agreed with Saudi Arabia: official
The United Arab Emirates had been planning its recent troop drawdown in Yemen for over a year and coordinated its move with key ally Saudi Arabia, a senior Emirati official said on Monday.
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