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  • Saudi Aramco Reports $47 Billion in Earnings; Plans to Buy Reliance Refining Stake
     

    In its first-ever half-year earnings report, Saudi Aramco said the company had earned a net income of $46.9 billion in the first half of 2019, a 12 percent decrease from $53 billion in the period a year earlier, when oil prices were higher. Saudi Aramco partly attributed the decline in net income to a 4% fall in the average […]

     
  • Another Houthi attack on Saudi Arabia’s Abha airport leaves nine injured
     

    A Houthi drone attack on Saudi Arabia’s Abha airport has injured nine civilians on Tuesday, the latest in a series of recent cross-border terrorist attacks by the Iran-backed group in Yemen. Eight Saudis and one Indian citizen were injured in the attack. The Houthis have recently stepped up attacks against targets in Saudi Arabia, which is […]

     
  • The Seven Wonders of Arabia, Aramco Expats’ Tribute to the Kingdom’s Top Heritage Sites – Part 2: Historic Jeddah
     

    Last week, SUSTG published the first in a series of posts highlighting the seven wonders of Arabia as selected and featured by AramcoExpats.com, an online blog that is a resource for current and former Saudi Aramco expatriates and their families. As the Kingdom prepares to open itself up to more visitors and boost its tourism industry in line […]

     
  • Saudi Top Buyer of Military Arms as Flow Increases to Middle East
     

    Saudi Arabia became the world’s largest arms importer between 2014–18, with an increase of 192 per cent compared with 2009–13, according to a new annual report published by the Stockholm International Peace Research Institute (SIPRI). The report also noted that U.S. and other Western weapons sales “are in high demand” in the Middle East, edging out Russia and […]

     
  • Saudi Crown Prince Mohammed bin Salman arrives in China
     

    Saudi Crown Prince Mohammed bin Salman arrived in China on Thursday, the third stop of his tour of Asian nations that started with visits to Pakistan and India. The Crown Prince is slated to meet Chinese President Xi Jin Ping during the official visit. China is Saudi Arabia’s largest trading partner, ahead of the United States. At […]

     
  • Crown Prince Mohammed bin Salman Arrives in India for Next Stop of Asia Tour
     

    Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in India for the second stop on a three-country tour of Asian nations as the Kingdom looks to boost relationships and trade opportunities in the East. India “rolled out the red carpet for the crown prince,” Reuters reports, amid simmering tensions with neighboring Pakistan following a militant attack in […]

     
  • Looking East, Crown Prince Mohammed bin Salman Arrives in Pakistan
     

    Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in Pakistan on Sunday for the start of a tour of several Asian nations as the Kingdom looks eastward to strengthen trade relationships and business opportunities. As is usually the case for the highest Saudi royal leaders on state visits, the Crown Prince traveled with a sizable entourage […]

     
  • Saudi Arabia Braces for More Dangerous Wet Weather
     

    Authorities in Saudi Arabia’s are cautioning that more thunderstorms and wet weather is on its way to several areas across the Kingdom, as locals brace for the potential for additional flooding and other hazards. The country’s General Authority of Meteorology and Environmental Protection warned that heavy winds along with thunder and rain would hit Jazan, […]

     
  • Oil Reaches Four Year High after OPEC+ Downplays Calls for Increased Production
     

    Oil rose to its highest price in four years on Tuesday, to above $81 on Brent, after Saudi Arabia and Russia appeared to downplay calls from the US to increase production. Saudi Arabia said it will boost its crude oil production “in the coming months” as it expects stronger demand, according to recent comments made by […]

     
  • Report: Saudi-backed SoftBank Earnings Surge on Vision Fund Valuation
     

    SoftBank has reported a 49.2 percent surge in its latest quarterly earnings due in part to a $2.2 billion gain at its tech-focused Saudi-backed Vision Fund, Zawya reports. According to Zawya, the fund’s investment gain was a result of the sale of the Indian e-commerce company Flipkart to US chain Walmart. An increase in the value of the fund’s […]

     

MUST-READS

  • Memorandum of Understanding on the Principles of an India – Middle East – Europe Economic Corridor

    Pursuant to this Memorandum of Understanding, the Governments of the Kingdom of Saudi Arabia, the European Union, the Republic of India, the United Arab Emirates (UAE), the French Republic, the Federal Republic of Germany, the Italian Republic, and the United States of America (the “Participants”) commit to work together to establish the India – Middle East – Europe Economic Corridor (IMEC). The IMEC is expected to stimulate economic development through enhanced connectivity and economic integration between Asia, the Arabian Gulf, and Europe.

  • How Saudi-Indian relations gained momentum through G20 platform

    Relations with Saudi Arabia have been steadily gaining prominence on India’s foreign policy agenda over the past three decades. But their full potential has only lately been realized thanks to cooperation around the G20 platform. Saudi-Indian ties began to see a new level of engagement in 2019 following Crown Prince Mohammed bin Salman’s visit to New Delhi and the establishment of a strategic cooperation council.

  • U.S., Saudi, India, UAE hope to ink railway deal to connect Middle East at G20

    President Biden and the leaders of India, Saudi Arabia and the United Arab Emirates hope to announce a major joint infrastructure deal on Saturday that will connect Gulf and Arab countries via a network of railways, two sources with direct knowledge of the plan told Axios. It will also connect to India through shipping lanes from ports in the region,

  • G20 members ‘almost ready’ with leaders’ declaration, India says

    G20 countries have almost finalised a declaration for the weekend summit of its leaders, host India said on Friday, suggesting that negotiators had made progress in bridging differences in the group over the war in Ukraine. The streets of the usually bustling capital New Delhi were deserted ahead of the summit with businesses, offices and schools closed as part of security measures to ensure the smooth running of the meeting, the most high-powered to be hosted by the country.

  • Inside India: World’s Most Populous Nation Looks Ahead

    Earlier this year, India overtook China to become the most populous nation in the world. Nearly one in six people on the planet live the South Asian country, where the population topped 1.4 billion this year and is projected to reach 1.65 billion by 2060. As India’s population continues to grow, so does the country’s importance to global geopolitics and the world economy. This series of articles looks to the future and examines the opportunities and challenges facing India.

  • Saudi Arabia-India trade hits $24 billion: Report

    Amid this robust partnership, both nations anticipate their investments and trade exchange to soar to $100 billion within the next five years. The trade relationship involves Saudi Arabia importing a range of commodities from India, spanning engineering goods, rice, petroleum products, chemicals, textiles, raw sugar and ceramic tiles. On the other hand, Saudi Arabia exports crude oil, liquefied petroleum gas, fertilizers, chemicals and plastic. The bilateral trade relations have also spurred investments between the two nations.

  • India’s Russian oil imports fall to 7-month low, Saudi jumps

    India's imports of Russian oil fell in August to a seven-month low as refiners curbed purchases due to planned maintenance outages at some plants and lower discounts for Russian grades. However, oil imports from Saudi Arabia surged to a multi-month high, according to preliminary data from Kpler and Refinitiv trade flows. Refiners in India have been snapping up discounted Russian oil after some Western buyers shunned purchases over Russia's full-scale invasion of Ukraine in February last year.

  • India’s July Russian oil imports dip; Saudi import down to 2-1/2-yr low -trade

    India's July crude oil imports from Russia dipped for the first time in nine months, while inbound shipments from Saudi Arabia tumbled to their lowest in 2-1/2 years following OPEC+ cuts, tanker data from trade and industry sources showed. Both China and India, the world's biggest and third-biggest oil importers, cut imports from Russia and Saudi Arabia in July after prices rose and as the two oil producers reduced output and crude oil shipments.

  • India’s Strategic Autonomy Enters the Gulf Waters

    Emerging realignments in the Middle East led by the China-brokered agreement between Saudi Arabia and Iran drive India to pursue greater strategic autonomy as rival regional powers diversify their foreign policy, embracing pragmatism and national interests over ideology and geopolitics.

  • BRICS Membership Expansion Push by China Falters as India, Brazil Push Back

    India and Brazil are pushing back against a Chinese bid to rapidly expand the BRICS group of emerging markets to grow its political clout and counter the US, officials with knowledge of the matter said. The countries have raised objections in preparatory talks for a summit in Johannesburg next month where Brazil, Russia, India, China and South Africa will discuss potentially expanding the group to include Indonesia and Saudi Arabia. China has repeatedly lobbied for expansion during those meetings, said the officials, who asked not to be identified as the discussions are private.