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  • Saudi Arabia Doubles Down on Industrial Development Program; Seeking over $400 Billion in Investment
     

    Saudi Arabia is seeking to attract 1.6 trillion riyals (nearly $429 billion) in private sector investment over the next 10 years for an infrastructure and industrial program, according to an announcement over the weekend and at an investment conference in Riyadh today. Investments will be made through the National Industrial Development and Logistics Program (NIDLP), […]

     
  • Saudi Media Powerhouse SRMG Launches Independent Arabia
     

    The Saudi Research and Marketing Group (SRMG) and the UK online publisher The Independent have launched a new digital news site, IndependentArabia.com. SRMG announced the appointment of Saudi journalist and political analyst Adhwan al-Ahmary as editor-in-chief of the online platform, while the new service will be staffed by a team of experienced journalists from Saudi Arabia […]

     
  • Fahad Nazer Named New Saudi Embassy Spokesperson in Washington
     

    The Royal Embassy of Saudi Arabia in Washington has appointed Fahad Nazer as official spokesperson, according to a press release and announcement made public yesterday. Nazer, who has been a contributor to SUSTG.com as well as Arab News and other publications in the region and United States, replaces Ms. Fatimah Baeshen, who served in the role since September 2017 […]

     
  • Ambitious Saudi Entertainment Push Announced by GEA’s Turki al-Sheikh
     

    Saudi Arabia is looking to maintain heavy investment in the entertainment sector in 2019, according to comments made by a top Saudi official, as it looks to make good on key Vision 2030 economic reforms. Reuters reports that Saudi Arabia’s recently named chairman of the General Entertainment Authority, Turki al-Sheikh, said the Kingdom would put on […]

     
  • Report: The Oil Market Roller Coaster
     

    It has been a tumultuous six months for oil prices on international indices. Prices have slightly rebounded early in 2019 after a precipitous fall from over $86 in September on the Brent Index to just over $50 on Christmas Day. In response, the Saudi-led OPEC+ group agreed in December to cut prices to erode a global […]

     
  • OPEC Gets Jump on Planned Production Cuts, Slashes Output in December
     

    The nations forming the OPEC+ alliance slashed oil production in December, one month before the producer group officially began a fresh round of output cuts agreed to late last year in response to a global supply glut and fears of a worldwide recession, according to CNBC. OPEC’s oil output fell by 751,000 barrels per day, to 31.6 million […]

     
  • Saudi Arabia Explores Interconnected Gas Grid for Region
     

    Saudi Arabia may pursue an interconnected natural gas grid in the region that would link together the Kingdom with Oman, Kuwait, and the United Arab Emirates, according to reports. “I am talking to my colleagues in Oman, Kuwait, UAE, about extending a gas grid in the region and we hope to exchange gas and we also have […]

     
  • Saudi Arabia Eyes Major Domestic Energy Conservation by 2030, Al Falih Says
     

    Saudi Arabia expects to throttle back domestic energy consumption by 2030 by up to the equivalent of 2m barrels of oil per day, in line with the Kingdom’s Vision 2030 economic and social reform initiative, according to comments made by Khalid Al-Falih published by Reuters. Saudi Arabia has long used easily extracted oil reserves for […]

     
  • A Gradual Pickup in Private Sector Lending in Saudi Arabia Seen in Monetary Update
     

    A recently-released report by Jadwa Investment finds a gradual pickup in private sector lending since April 2018 after showing a slowdown in 2017 and Q1 2018. The Monetary and Financial Update report from the Riyadh-based Jadwa looks at the Kingdom’s monetary policy and other key economic data. Jadwa Investment sees “a rising level of uncertainty” in the […]

     
  • Salaries in Saudi to Increase 5-6% in 2019, Women Participation to Rise 15%, Study Says
     

    Salaries for mid-level to senior professionals in Saudi Arabia will rise between 5-6% on average in 2019 and women will see a 15% rise in workforce participation in 2019, a recent study by GCC-based recruitment consultancy Cooper Fitch said. The study, the Cooper Fitch Salary Guide for the Kingdom of Saudi Arabia in 2019, provides salary expectation […]

     

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