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Saudi Arabia’s Grain Organization will Privatize Four Mills as Reforms Reach More Sectors
- June 28,2018
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- SUSTG Team
Saudi Arabia’s state grain buyer, the Saudi Arabian Grains Organization (SAGO), said on Thursday it would start accepting applications for qualification of potential investors interested in the sale of its four mills on Aug. 26 as the push toward privatization across several sectors in the Kingdom continues. Reuters reports that the agency “will also make […]
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Saudi, UAE, Kuwait to Support Bahrain Economy after Downturn
- June 27,2018
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- SUSTG Team
Saudi Arabia, Kuwait and the United Arab Emirates will soon announce an “integrated program” to support Bahrain’s economic reforms and its fiscal stability, Reuters reports, citing a joint statement from the three Gulf states on Tuesday. Like other oil producing nations whose state finances are closely tied to oil prices, Bahrain’s economy was hit hard […]
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In Win for Saudis, OPEC Agrees On ‘Modest’ Increase in Oil Production
- June 22,2018
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- SUSTG Team
The Organization of the Petroleum Exporting Countries (OPEC) agreed on Friday on a modest increase in oil production from July, Reuters reports, after its de-facto leader Saudi Arabia “persuaded arch-rival Iran to cooperate” amid calls from major consumers to help reduce the price of crude and avoid a supply shortage. The increase followed days of […]
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Saudi Arabia, Russia to Jointly Invest $2 Billion in Tech Following Crown Prince, Putin Meeting
- June 19,2018
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- SUSTG Team
Saudi Arabia and Russia will jointly invest $2 billion in technology projects next year, according to reports, following the visit of Crown Prince Mohammed bin Salman to Russia at the start of the World Cup last week. Russia’s RIDF, the country’s sovereign wealth fund, and Saudi Arabia have already allocated $10 billion for investment with $2 billion […]
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Saudi Digital Media Startup Raises $9 Million Series A Round with 20m Subscribers
- June 18,2018
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- SUSTG Team
A Saudi Arabia-based digital media company raised $9 million in a Series A round of funding, according to reports. Telfaz11, with over 20 million subscribers on their network, and reporting more than 2 billion views on YouTube, is a leading Arabic Multi-Channel Network (MCN) which seeks to change the face of home-grown online entertainment. “As a pre-eminent […]
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Tough Start for Saudi Arabia Football at World Cup; Uruguay Next
- June 15,2018
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- SUSTG Team
Host country Russia defeated Saudi Arabia 5-0 in a tough start for the Kingdom’s first World Cup bid in 12 years. Saudi Arabia’s Crown Prince Mohammed bin Salman watched the match alongside of Russia’s President Vladimir Putin, and video images of the two leaders reacting to the match have gone viral on social media sites. […]
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Report: Trump Requested Saudi Oil Support Before Iran Nuclear Decision
- June 8,2018
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- SUSTG Team
A day before President Trump withdrew from the Iran nuclear deal, one of his senior officials phoned key ally Saudi Arabia to ask the world’s largest oil exporter to help keep prices stable if the decision disrupted supply, Reuters reports. As Reuters reports, although the U.S. and Saudi Arabia are close allies, rarely has the United States put […]
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Saudi Arabia’s Central Bank Sees Reserves Soar on High Oil Prices
- May 29,2018
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- SUSTG Team
Saudi Arabia’s central bank foreign reserves rose last month at their fastest rate for four years, Reuters reports on official data revealed on Monday. The $13.3 billion month-on-month increase in reserves to $498.9 billion in April is the highest level reached in over year and reveals “the extent to which a rebound in oil prices is […]
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Saudi, Russia Say Oil Supply to Increase in ‘Near Future’ as Consumers Eye Increasing Prices
- May 25,2018
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- SUSTG Team
Saudi Minister of Energy Khalid Al-Falih said OPEC and other producers are likely to gradually revive oil output in the second half of the year to ease consumer anxiety as prices trade near $80 a barrel, according to reports. The action would be a reverse of course from previous OPEC and non-OPEC producers’ decision two years […]
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Report: Saudi Binladin Group (SBG) to be Renamed and Resized after Rough Decade, Graft Allegations
- May 24,2018
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- SUSTG Team
The one time leader in Saudi Arabia’s construction market, Saudi Binladin Group, will be slimmed down and renamed, according to an exclusive Reuters report, which cited six sources familiar with the matter. The government seized management control of the construction giant from the chairman and other family members after they were detained in anti-graft arrests last […]
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MUST-READS
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Middle East PeaceTop EU diplomat wants European strategy for Middle East peace
Criticizing the US Middle East peace plan, the EU's foreign policy chief said the bloc needs a strategy to end unrest between Israelis and Palestinians. He said he hopes both sides could accept the EU as a mediator.
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EntrepreneurshipThe hot areas Saudi entrepreneurs should be looking at
Saudi Arabia’s economic development program aims to increase the gross domestic product (GDP) contribution of small and medium-sized enterprises (SMEs) from 20 percent at present to 35 percent by 2030. Along the way, entrepreneurship opportunities will grow across a wide range of sectors, in what is by all accounts a significantly underserved market.
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IranEurope to avoid taking Iran nuclear dispute to U.N., EU’s top diplomat says
The European Union will extend indefinitely the time limit to resolve disputes in the Iran 2015 nuclear accord to avoid having to go to the U.N. Security Council or triggering new sanctions, the EU’s top diplomat said during a visit to Tehran.
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EU-IranEU top diplomat holds talks in Iran ‘to de-escalate tensions’
Borrell’s trip, his first to Iran since taking office, follows a spike in tensions between Washington and Tehran after the January 3 assassination in Baghdad of top Iranian general Qassem Soleimani in a US drone strike.
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IPRSaudi Arabia criticised by European Commission over BeoutQ inaction
The report listed Saudi Arabia as a priority three country alongside Argentina, Brazil, Ecuador, Malaysia, Nigeria and Thailand. Among the priority two countries were India, Indonesia, Russia, Turkey and Ukraine, while China is the only country in the priority one category.
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CyclingSaudi Tour presents route for sprinters and puncheurs for first edition
The first Saudi Tour ever will be held between the fourth and the eighth of February and will combine different kind of landscapes around the capital Riyadh. This race will offer stages that are good for the fast riders and others that are better for the puncheurs and the breakaway specialists.
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EU-TurkeyAnkara Warns of EU Migrant Deal Ahead of German Chancellor’s Visit
The future of the EU deal, which curtailed an exodus of migrants into Europe, is expected to be an essential part of talks between Merkel and Turkish President Recep Tayyip Erdogan.
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Gulf EconomiesGulf economies to pick up this year following spending spree: Reuters poll
Economic growth in the Gulf will pick up this year and next, helped by Saudi Arabia’s investment program and Expo 2020 in Dubai, although the region will continue to feel the impact of oil output cuts, a Reuters poll showed on Wednesday.
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Gulf SecurityEight Countries Back European-Led Naval Mission In Strait Of Hormuz
Belgium, Denmark, France, Germany, Greece, Italy, the Netherlands, and Portugal backed the new force, they said in a "political statement" issued by France's Foreign Ministry on January 20.
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Saudi Commission for Tourism and National HeritageSaudi Arabia brings history to life with museums construction
Scope of work for the projects included construction of new buildings for the museums, in addition to activities such as designing and preparing museum presentations as per the latest international designs and advanced modern capabilities in the fields of artifacts and visual presentations.
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