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Jadwa Macroeconomic Update: COVID-19 ‘Changes Everything, for Now’
- March 19,2020
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- SUSTG Team
The latest Macroeconomic Update report from Jadwa Investment examines the impact of the COVID-19 virus, or Coronavirus, on the Saudi economy, noting that while COVID-19 will put pressure on the oil economy, downside risks to non-oil growth will also be noticeable in the Kingdom.
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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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Strong U.S., Saudi Arabia Security Alliance Evident in Latest SIPRI Annual Report
- March 13,2020
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- SUSTG Team
Saudi Arabia was the largest recipient of US arms in 2015–19 and accounted for 25 percent of U.S. arms exports, a surge of 17.6 percent over the period between 2010-2014, according to the latest Trends in International Arms Transfers, 2019 report from the Stockholm International Peace Research Institute (SIPRI).
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Saudi-Russia Still in Communication on Oil Policy; Former Minister Al-Falih Speaks with Russia’s Novak
- March 10,2020
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- SUSTG Team
Saudi Arabia and Russia dug in on the potential for an oil price war on Tuesday, with each indicating they are willing and able to open the spigots after the two sides failed to reach an agreement on supply curbs which sent global markets to major losses, according to reports. On Tuesday, the Kingdom’s state-run Saudi Arabian […]
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Global Markets Plummet as Saudi, Russia Fail to Agree on Oil Supply
- March 9,2020
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- SUSTG Team
After the OPEC+ countries failed to come to an agreement on oil prices, Saudi Arabia dramatically cut its export prices over the weekend, creating the largest single-day oil price drop since the start of the Gulf war in 1991, according to reports.
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Saudi Ambassador to the U.S. Princess Reema bint Bandar Visits Wyoming, Gives Interview to Local Paper
- March 6,2020
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- SUSTG Team
Saudi Ambassador to the United States HRH Princess Reema bint Bandar Al-Saud visited the U.S. state of Wyoming this week and sat down with the local news outlet, the Wyoming Tribune Eagle, to talk about her visit to the state, the state of women’s rights in Saudi Arabia and the potential for business partnerships in Wyoming.
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Report: Saudi Plans $6bn Surge in Mortgage Refinancing
- March 5,2020
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- SUSTG Team
Saudi Arabia’s first mortgage refinancing firm “aims to raise its holdings of home-loan portfolios by 10 times this year,” Bloomberg reports, as the Kingdom’s Saudi Housing Minister said that Saudi’s first mortgage refinancing firm plans to buy more than SAR 23 billion ($6.1 billion) of mortgage portfolios from banks in 2020.
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For Saudi Arabia’s Red Sea Projects, Protecting the Natural Wonder of Sea and Sky a Priority
- March 3,2020
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- SUSTG Team
Saudi Arabia’s planned Red Sea Development Projects will create massive tourism opportunities for the Kingdom, but Saudi authorities are keen on keeping the natural, pristine beauty of the as-yet developed sites intact during planning and construction.
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Saudi Arabia launches Y20 summit as a Platform Connecting Youths with G20 leaders
- March 2,2020
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- SUSTG Team
Saudi Arabia launched the Y20 (Youth 20) summit on Sunday evening, a platform which seeks to bring youth voices to international decision-makers.
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More Progress for Saudi Women as Kingdom Launches a Women’s Soccer League
- February 28,2020
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- SUSTG Team
Saudi Arabia is launching a soccer league for women, another step forward as the Kingdom continues ahead with its Vision 2030 social and economic reform plan.
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MUST-READS
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Khaleeji CityDefying Transience: Urban Landscapes in the Gulf States
One of the fascinating aspects of life in the Gulf city is how people personalize their living environment. Spaces appear to be lived in – the very antithesis to the manicured, curated, and sanitized spectacular city.
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Transportation and LogisticsSaudi King Abdullah Port receives 28 cranes to boost capacity
In the largest commercial operation of its kind in the history of Saudi Arabia, King Abdullah Port has received 28 state-of-the-art Liebherr cranes to start the expansion of the container terminals. The latter was decided through a MoU signed with National Container Terminal on the day the port was officially inaugurated in the presence of the Crown Prince Muhammad Bin Salman last February.
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Saudi AramcoAramco awards $18 billion in contracts to boost capacity at Marjan, Berri oilfields
Saudi Aramco has awarded 34 contracts with a total value of $18 billion for engineering, procurement and construction projects at its Marjan and Berri oilfields, the company said. Aramco plans to boost production capacity at the two fields by 550,000 barrels per day of Arabian crude oil and 2.5 billion standard cubic feet a day of gas, the company said in a statement.
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AfghanistanKabul blast: Taliban attack kills at least 16 in Afghan capital
The Taliban detonated a powerful car bomb in an area of Kabul housing military and government buildings, killing at least 16 the interior ministry told Al Jazeera.
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TurkeySix Turkish Sailors Freed by Libyan Captors After Turkey Warning
Six Turkish sailors were freed by their Libyan captors after Ankara threatened to take military action in the conflict-ravaged North African country. The sailors -- who were captured by forces loyal to insurgent general Khalifa Haftar under unclear circumstances -- returned to their ship, the Turkish Foreign Ministry said Monday, without elaborating.
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QiddiyaSaudi’s Qiddiya unveils Capital of Entertainment development hubs
The masterplan for Saudi Arabia’s Qiddiya gigaproject features five zones called development nodes that feature sport stadiums, hotel resorts, a residential neighborhood, theme parks, and an off-road driving track.
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UAE MergerUAE’s Abu Dhabi Financial Group & Shuaa Capital agree on merger
Abu Dhabi Financial Group (ADFG) and Shuaa Capital have agreed on the terms of their merger, which will create an entity with $12.8 billion in assets under management.
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Abu Osama Al-MuhajirRevealed: How Saudi special forces captured Yemen’s Daesh chief in daring 10-minute raid
The operation began, as sensitive security operations often do, with intelligence. Sources reported that Al-Muhajir was living in a house in a Yemeni village, with other terrorists and their wives and children. The house was placed under surveillance, and Daesh’s presence confirmed.
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Anti-ISIS CampaignSaudi forces say they have captured leader of Yemen branch of Islamic State
The leader, Abu Osama al-Muhajer, as well as other members of the organization including its chief financial officer, were captured on June 3 in a raid on a house carried out by Saudi and Yemeni forces, the coalition said in a statement carried on Saudi state news agency SPA.
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TransportationWestminster Group PLC sets up joint venture to capitalize as Saudi Arabia privatizes transport infrastructure
Through its Saudi Vision 2030 Privatisation Programme, the Kingdom has committed to unlock the value in its state assets through privatisation, build-operate contracts and outsourcing in a programme that includes its ports and airports.
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