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Saudi cabinet affirms desire to avoid war and have stable oil markets in face of heightened Iran tensions
- May 22,2019
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- SUSTG Team
Saudi Arabia’s cabinet took the step of affirming the Kingdom’s desire to avoid regional conflict and ensure stable oil markets as tensions between Iran and the United States simmer, according to the state-run Saudi Press Agency and Reuters. The kingdom “will do everything in its power to prevent any war and its hand is always extended […]
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Tensions Simmer in the Gulf as Kingdom Says it Wants to Avoid War but ‘Will Respond Firmly and Decisively to Any Threat’
- May 20,2019
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- SUSTG Team
Tensions simmered with Iran over the weekend as Saudi Arabia, the United States and allies made it clear war should be avoided at all costs but that they would respond to security threats and defend their interests if necessary. Following last week’s two attacks on key Saudi energy targets, which the Kingdom blames on Iran and […]
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Seven Saudi PV solar power projects worth $1.51b launched at recent industry exhibition
- May 17,2019
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- SUSTG Team
Seven PV solar power projects with a capacity of 1.52 GW and worth $1.51bn (SAR5.6bn) were launched on the sidelines of the recently concluded Saudi Elenex exhibition, according to a report in ConstructionWeekOnline. The projects were unveiled by Saudi Arabia’s Ministry of Energy, Industry, and Mineral Resources. The announcements are part of the Kingdom’s larger effort […]
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Vision 2030 economic reforms ‘have started to yield positive results’ in Saudi Arabia, IMF says
- May 16,2019
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- SUSTG Team
The International Monetary Fund (IMF) said that Saudi Arabia’s Vision 2030 economic and social reform plan was starting to pay off for the Kingdom, according to a report issued by the fund after a mission visit. “Economic reforms have started to yield positive results. Non-oil growth has picked-up, female labor force participation and employment have […]
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Saudi Arabia Replaces Head of Civil Aviation by Royal Decree Amid Airport Delays
- May 8,2019
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- SUSTG Team
Saudi Arabia replaced the head of its civil aviation authority on Wednesday, Reuters reports, appointing Abdelhadi Al-Mansouri president of the General Authority for Civil Aviation (GACA). Al-Mansouri’s appointment fills a position that has been vacant officially since January, when his predecessor, Abdelhadi Al-Mansouri, was dismissed. He was appointed in June 2017. No details were given on the […]
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New ‘Economics in Society’ Report Examines Role of Misperceptions on Women Employment Rates in Saudi Arabia
- May 7,2019
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- SUSTG Team
A new research report published by the UBS International Center of Economics in Society examines how social norms may affect employment rates for women in Saudi Arabia, providing evidence “that most Saudi men privately believe that women should be allowed to work, but that they underestimate the extent to which other men share their views.” […]
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Saudi Government Revenue Surges Nearly 50% in Q1
- May 6,2019
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- SUSTG Team
Government revenue surged to SR245 billion ($65 billion) the first quarter of this year, an increase of 48 percent year-on-year, according to recent data revealed by Jadwa Investment. Both oil and non-oil revenue saw sizable rises. Government oil revenue rose by 48 percent, to SR169 billion ($45 billion), and was boosted by a SR124 billion ($33 billion) dividend […]
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‘Signs of Life’ in the Saudi Economy as Indicators Point to Improvements, Growth
- May 2,2019
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- SUSTG Team
Recently-released monthly data show signs of life in Saudi Arabia’s economy, the Arab world’s largest, according to reports. Jadwa Investment’s monthly chartbook for May 2019 shows “marginal economic improvements” with a surge in POS transactions by 19 percent year-on-year and mild improvement in the Kingdom’s non-oil PMI index in March. The Kingdom also saw a net monthly […]
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PIF-Subsidiary Launches 1 Million Square Meter Amusement Park, Other Projects in Eastern Province
- May 1,2019
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- SUSTG Team
Saudi Entertainment Ventures (SEVEN), a subsidiary of the Public Investment Fund (PIF), said on Wednesday that it was launching its largest project to date in the Eastern Province of the Kingdom – an amusement park, along with other entertainment projects. In its announcement, SEVEN said it would be building its first amusement park, which will cover an area […]
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IMF’s Regional Economic Outlook Says Saudi Needs $85 Oil for Fiscal Balance
- April 30,2019
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- SUSTG Team
A recently-released IMF report on the oil-producing Middle East and North African economies said that Saudi Arabia’s newest breakeven price for oil – the price of oil at which its government could fund its operations without a deficit – is $85 on the Brent index. The report is a quarterly update on the economies of oil-producing […]
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MUST-READS
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Anti-ISIS CampaignReport: IS chemical weapons capability degraded
The siege of Mosul and targeted killings of chemical weapons experts in U.S.-led coalition airstrikes have significantly degraded the Islamic State’s production capability, although the group likely retains expertise to produce small batches of sulfur mustard and chlorine agents, a London-based analysis group said Tuesday.
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RaqqaRaqqa: Syrian Kurdish-led forces launch offensive on IS ‘capital’
A US-backed alliance of Kurdish and Arab fighters has launched an offensive to capture the jihadist group Islamic State's Syrian stronghold of Raqqa.
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Counter TerrorismScapegoating Saudi Arabia won’t help us fight terrorism
The terrorism we see today has been decades in the making, the result of an Islamic awakening provoked by the humiliating Arab defeat in the Six-Day War of 1967, the inspiration Islamists got from the successful Iranian Revolution of 1979, blowback from the jihadi war against the Soviets in Afghanistan in the 1980s and the U.S. invasion of Iraq in 2003.
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Venture CapitalSaudi STC establishes ME’s largest venture capital fund
STV has been approved with a size of $500 million, making it the largest institutional technology venture capital fund in the Middle East.
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Softbank Vision FundSoftbank-Saudi tech fund becomes world’s biggest with $93 billion of capital | Reuters
The world's largest private equity fund, backed by Japan's Softbank Group and Saudi Arabia's main sovereign wealth fund, said on Saturday it had raised over $93 billion to invest in technology sectors such as artificial intelligence and robotics.
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Trump's First Foreign TripWhat scandal? So far on his foreign tour, Trump has escaped ‘that Russia thing.’
Top officials in previous White Houses said it was unusual for so much of Trump’s senior staff to leave the country at once. The few senior aides who stayed behind include White House counsel Don McGahn, counselor to the president Kellyanne Conway and communications director Michael Dubke.
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KurdsThe Middle East′s complex Kurdish landscape
Conflicts in Iraq, Syria and Turkey have unleashed a tangle of political and military organizations among the Kurds. DW explains who's who in a struggle that is shaping the Middle East.
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Saudi Stock MarketSaudi Arabia prepared to ease foreign caps in MSCI index push
Saudi Arabia is prepared to ease regulations limiting foreign investment in the country’s stock market ahead of the much-anticipated Saudi Aramco initial public offering next year.
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AfghanistanRumored US troop increase in Afghanistan draws praise, worry on Capitol Hill
Reports of a proposed significant increase in the number of U.S. troops in Afghanistan brought praise from critics of the drawdown of forces in the region but renewed concerns from Democrats unsure of the president’s strategy for the war.
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Traffic SafetyVIDEO: Police car chase in Saudi Arabia’s capital grabs attention
The video, which was shown on Saudi Television’s program “Our safety”, showed the first moments when Saudi patrol received details of the car in question and information on its driver and passenger.
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