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Saudi Arabia’s June Non-Oil Exports Rise by 41%; Oil Exports Rise 123% to Over $16 billion
- August 24,2021
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- SUSTG Team
The value of Saudi Arabia’s non-oil exports, a key indicator for the Kingdom’s ongoing effort to diversify its economy, soared 41% in the month of June, according to reports citing official data released by the government on Tuesday.
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IATA Lauds Saudi Embrace of Travel Pass for Covid Vaccination Clearance
- August 19,2021
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- SUSTG Team
The International Air Transport Association (IATA) said in a press release that it welcomed the decision of the General Authority of Civil Aviation (GACA) of the Kingdom of Saudi Arabia to accept IATA Travel Pass to confirm pre-departure COVID-19 test results for departing and arriving passengers starting 30th of September 2021.
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Saudi Issues Record Number of Foreign Investor Licenses in a Single Quarter, MISA Says
- August 11,2021
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- SUSTG Team
Saudi Arabia’s Ministry of Investment (MISA) reported issuing 478 new licenses in the first quarter of 2021, “the most number in a single quarter since records began in 2005” and a 36% increase from the same quarter last year, according to reports.
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Daily New COVID-19 Cases in Saudi Arabia Fall Below 1,000 for First Time in Two Months
- August 6,2021
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- SUSTG Team
Daily new COVID-19 cases in Saudi Arabia fell below the 1,000-mark on Thursday for the first time since June 6, according to official figures, with 986 individuals infected over the past 24 hours.
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Saudi Mortgage Lending Surges 27% in First Half of 2021 — SAMA Data
- August 3,2021
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- SUSTG Team
Residential mortgage financing in Saudi Arabia has soared in 2021, increasing 27% so far this year despite a slowdown in the 2nd quarter, according to recent data released by the Saudi Arabian Monetary Authority (SAMA) and reported by Zawya.
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Saudi Arabia Steps Up Pressure on Residents to Vaccinate with New Restrictions on Public Spaces
- July 21,2021
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- SUSTG Team
Saudi Arabia is stepping up pressure on its citizens and residents to receive both doses of a COVID-19 vaccine with a new announcement confirming that most public spaces, malls, and other areas will be open to only those who are vaccinated, according to Arab News.
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Saudi Arabia Vaccination Drive Accelerates as Toll Passes 8,000 in Kingdom, Deadline Looms
- July 15,2021
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- SUSTG Team
Saudi Arabia’s daily Coronavirus vaccination rates passed 400,000 as the government continued to emphasize the importance of the jab ahead of a key deadline in which citizens and residents will need to prove they have received the vaccine to take part in many normal daily activities.
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Saudi Prince Khaled bin Salman Visits Washington, Meets with Top Biden Officials; U.S., Saudi Speak on Oil
- July 7,2021
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- SUSTG Team
Saudi Arabia’s deputy defense minister and former ambassador to the United States Prince Khaled bin Salman on Tuesday became the highest-ranking Saudi envoy to visit Washington since Joe Biden became president in January, Reuters reports. The prince represented the Kingdom in talks with senior Biden officials on the Yemen war and threats from Iran. Prince Khaled met […]
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Saudi Arabia to Invest Over $133 Billion in Transportation Sector as Details of New Plan Emerge
- July 6,2021
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- SUSTG Team
New details are emerging regarding Saudi Arabia’s new plans to turbocharge growth in the Kingdom’s transportation sector and place it in more direct competition with the UAE as a hub connecting east and west, according to comments from the Kingdom’s transportation minister this week. Saudi Arabia will invest over 500 billion riyals ($133.34 billion) in airports, […]
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Will Oil Reach $100 Soon? Traders, Industry Execs See Oil Rising Higher
- June 23,2021
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- SUSTG Team
In April last year, at the height of the pandemic crisis that touched every corner of the globe, oil prices collapsed in a spectacular fashion as demand plummeted and supply continued apace, leaving suppliers in some cases without a place to store their excess crude oil. US oil prices plunged, falling below $0 to $-37.63 a barrel – […]
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MUST-READS
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Deciphering China in the Middle East
The launch of the BRI in 2013, the publication in 2015 of China’s Military Strategy7 referring to the 'strategic principles of active defence' and Xi’s speech at the 19th national congress of the Communist Party of China all signalled a much more active foreign policy and the readiness to defend (in an even more assertive way) Chinese interests, especially ‘core interests’8 far away from home.
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Perspective: China is Not the Middle East’s High Roller
Private investment that flows from the U.S., Britain and Europe to the Middle East is consistent over time and a stronger force for job-creation and regional economic development.
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Perspective: The false logic of a China-US choice in the Middle East
By focusing on state investments and publicizing them widely, China has made the US litmus test in the region about bilateral, state finance. In contrast, what the United States and its allies offer the region is a system of access to international capital, to institutions that reward governance, rule of law and ultimately local job creation, rather than the enrichment of state entities, contracts that boost state bank balance sheets, and volatile project flow that rarely creates lasting local growth or employment.
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US-China Rivalry: Gulf States Struggle to Hedge Their Bets
The seemingly escalating US effort to box in China is hampered by the fact that no US company produces a 5G alternative. “5G is the future. To reconsider Huawei, the US has to offer an alternative. So far, it hasn’t done so,” a Gulf official who wishes to remain anonymous told Inside Arabia.
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China’s Saudi oil imports surge in May to all-time high
China's crude oil imports from Saudi Arabia nearly doubled in May from a year earlier to all-time high as refineries snapped up cheap fuel, while the kingdom retained its position as the top supplier to the world's biggest oil buyer.
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U.S. warns Russia, China of U.N. isolation if Iran arms ban extension blocked
Russia and China will be isolated at the United Nations if they continue down the “road to dystopia” by blocking a U.S. bid to extend a weapons ban on Iran, U.S. Iran envoy Brian Hook told Reuters ahead of his formal pitch of the embargo to the U.N. Security Council on Wednesday.
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A Chilly Summit Spotlights Escalating U.S.-China Tensions
The frosty atmosphere was evident in both sides’ bland readouts of the meeting, which called it “constructive” but mostly highlighted the issues that divide the nations, including COVID-19, China’s move to strengthen its grip on Hong Kong, the status of self-ruling Taiwan, and Beijing’s trade practices and its treatment of the country’s Uighur Muslim minority in western Xinjiang province.
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China’s response to COVID-19 better than U.S.’s, global poll finds
More than 60% of people surveyed thought China had responded well to the pandemic, while only a third around the world thought the U.S. response had been effective. Just over half of those surveyed in the United States thought their government had responded well, however.
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India China border: At least three soldiers killed in clashes in the Aksai Chin-Ladakh area
Three Indian soldiers were killed during a "violent face-off" with Chinese troops along the countries' de facto border in the Himalayas late Monday, the Indian army said in a statement. The incident occurred during a "deescalation process" underway in the Galwan Valley in the disputed Aksai Chin-Ladakh area, where a large troop build up has reportedly been taking place for weeks now on both sides of the border, before senior military commanders began talks earlier this month.
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China Strengthens its Presence in Gulf Renewable Energy
The global economic slowdown presents Chinese entities with a cost-effective opportunity to strengthen their commercial presence in the region’s renewable energy market and other strategic sectors related to critical infrastructure.
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