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Saudi Arabia Raises Minimum Wage for Citizens by 33% after Labor Reform Announcement
- November 24,2020
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- SUSTG Team
Saudi Arabia will raise the minimum wage for its citizens from 3,000 riyals ($800) to 4,000 riyals ($1,066), a 33 percent increase, the Kingdom’s Ministry of Human Resources and Social Development announced last week. Set to take effect five months from the announcement date of Wednesday, November 18th, the increase is substantial for Saudi workers.
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Road to the G20: Saudi Arabia Set to Host Main Leaders’ Summit this Weekend
- November 19,2020
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- SUSTG Team
Saudi Arabia is set to host the G20 Leaders Summit this weekend, the main event involving the heads of the 20 nations chaired virtually by the Kingdom due to the Coronavirus pandemic.
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Saudi Arabia, Yemen’s Houthis on Cusp of ‘Breakthrough’ Deal if Buffer Zone Established – Report
- November 18,2020
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- SUSTG Team
Saudi Arabia and Yemen’s Iran-backed Houthis are on the cusp of a “breakthrough” nationwide ceasefire agreement, Reuters reports, on the condition that the Houthis agree to an establish a buffer zone between the two countries.
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Saudi Arabia’s Public Investment Fund Eyes Pivot to Domestic Investments in 2021 and Beyond
- November 17,2020
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- SUSTG Team
After investing billions in equities in the United States and elsewhere overseas, Saudi Arabia’s Public Investment Fund (PIF) is turning its focus to domestic investments in the Kingdom in 2021 and beyond, Bloomberg reports, citing comments from Crown Prince Mohammed bin Salman.
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Inaugural Saudi Ladies Invitational Golf Tournament Ends in Thrilling Playoff Win for Denmark’s Emily Kristine Pedersen
- November 16,2020
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- SUSTG Team
Saudi Arabia’s inaugural golf tournament wrapped up on Sunday with a thrilling, come-from-behind win by Denmark’s Emily Kristine Pedersen, who sealed her victory in a playoff hole after trailing the then-leader Georgia Hall by three strokes.
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Saudi Crown Prince Mohammed bin Salman Releases Rare Statement on Economic Reforms, Security
- November 13,2020
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman released a rare statement on the ongoing economic reforms in Saudi Arabia and took a firm stance against any threats to the Kingdom, as Saudi Arabia battles dual crises in the Coronavirus and lower oil revenue.
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‘We are Expanding our Library of Saudi Content’: Netflix Signs Multi-Picture Deal with Saudi Arabia’s Telfaz11 Studios
- November 12,2020
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- SUSTG Team
Netflix has announced a partnership with Saudi Arabian digital media studio Telfaz11 to produce eight new feature films, Variety reports, an expansion of the media powerhouse’s interest in Saudi Arabia’s budding creators and growing entertainment market. According to Variety, the deal segues from the two companies’ previous collaboration on the short film collection “Six Windows in […]
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Rising Coronavirus Cases, Lockdowns Globally Will Hurt Oil Demand More than Previously Thought in 2021, OPEC Says
- November 11,2020
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- SUSTG Team
A global surge in Coronavirus cases and resulting lockdowns in late 2020 will cause oil demand to rebound more slowly in 2021 than previously thought, OPEC said on Wednesday. The surge in Coronavirus cases will hamper efforts by OPEC and its allies to support the market, Reuters reports.
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Saudi Economy Contracts 4.2% in 3Q, Improves from 2Q; Fitch Affirms Credit Rating at ‘A’
- November 10,2020
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- SUSTG Team
Saudi Arabia’s economy shrank 4.2% in the third quarter from a year earlier, government data showed on Tuesday, but the contraction was smaller than the second quarter when the economy was reeling from coronavirus-linked lockdowns, Reuters reports. The economy expanded by 1.2% on a seasonally-adjusted quarter-on-quarter basis in the third quarter from a contraction of 4.9% […]
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Saudi Arabia Will Host a Formula One Race Next Year for the First Time
- November 6,2020
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- SUSTG Team
Saudi Arabia will host a Formula One race next year, a move aimed at boosting tourism, sports and entertainment in the Kingdom, according to reports.
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MUST-READS
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Nine of 11 Saudi starters play for same club. Who are Al Hilal?
Founded in 1957, Riyadh-based Al Hilal are the kingdom’s – and Asia’s – most successful team, attracting big names from home and abroad. In June, the team nicknamed the Blue Waves were crowned champions of the Saudi Pro League for an 18th time.
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Nine of 11 Saudi starters play for same club. Who are Al Hilal?
Since the top Saudi league was established in 1976, Al Hilal are among only four teams to have participated in every season. They have also won the Crown Prince Cup, the oldest domestic football competition in the kingdom, a record 13 times. And last year, Al Hilal became the first club to win four Asia Football Confederation (AFC) Champions League titles. They have also scooped the Asia Cup Winners Cup and the Asian Super Cup twice.
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Third-quarter profit of Saudi Arabia’s 10 largest banks rise 9.3% on interest income boost
The aggregate net profit of Saudi Arabia's 10 largest banks increased by 9.3 per cent on quarterly basis in the third quarter of this year, driven by higher interest rates and lower impairment charges, according to professional services consultancy Alvarez & Marsal. The banks' cumulative net income for the three months to the end of September rose to 16.5 billion Saudi riyals ($4.4 billion), the consultancy said in its latest Saudi Arabia Banking Pulse report.
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Parts of Saudi regions to witness rain and torrents from Tuesday
The National Center for Meteorology (NCM) has indicated that 6 parts of Saudi Arabia's regions will witness rain and torrents next Tuesday and Wednesday. NCM has said that the rains will range from medium to heavy, and would lead to torrents. The parts that will witness the rains are the regions of Makkah, Madinah, Tabuk and their coastal parts.
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Saudi Arabia brought down to earth by Poland at World Cup
Saudi were beaten 2-0 at Education City Stadium on Saturday, when Piotr Zielinski and Robert Lewandowski struck towards the end of each half, and Salem Al Dawsari’s missed penalty and Abdulellah Al Malki’s mistake proved too costly. Saudi were dominant yet not decisive, the better team for much in front of a fervent support, but their World Cup dream remains in the balance. Attempting to reach the knockouts for only the second time in six attempts, they have it all to do again in Group C. It comes down to Mexico on Wednesday.
- Al-Arabiya - Herve Renard: ‘Proud of players’ as no one imagined Saudi could play at this level
- Fox - Saudi Arabia’s coach Herve Renard’s viral speech is everything
- Daily Mail - Robert Lewandowski was worthy of his big World Cup moment but Wojciech Szczesny was the real hero as Poles claimed a crucial win
- Reuters - Saudi Arabia in the mix for last 16 ahead of Mexico clash
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Chart: U.S. Nuclear Reactors Among The Oldest In The World
The United States' 92 nuclear reactors currently in operation have a mean age of 41.6 years, the third oldest in the world. The only nuclear fleets that are older are those of Switzerland (46.3 years) and Belgium (42.3 years). Also older are the singular reactors in use in Armenia and the Netherlands.
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Safety and decarbonization lie at the heart of Saudi Arabia’s national drilling champion
For 60 years, Arabian Drilling has been a pioneer in Saudi Arabia’s oil and gas industry with operational excellence in performance, quality and safety underpinning its growth and contribution to the Saudi economy and society.
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Saudi developer starts delivery of Sedra Phase One homes
Roshn, a national community developer fully owned company by the Saudi Public Investment Fund (PIF), has announced that it has begun handing over the villas and townhouses within the Phase One of its landmark development, Sedra, in northern Riyadh, ahead of schedule.
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US partners in Middle East avoid taking sides against China
“As a medium-sized power, we also need to be pragmatic,” said Gargash, and “we sometimes need to engage with people we find distasteful,” adding that the UAE will choose “quiet diplomacy instead of outspoken criticism” in its conduct of foreign policy. See Salim Essaid's report on the topic.
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West Texas Hit by 5.3 Magnitude Earthquake, Largest It Has Ever Seen
Since 2018, about 1,000 earthquakes of magnitude 2.5 and larger have struck within 31 miles (50 kilometers) of Wednesday’s event, the USGS said. Over the past two decades the central and eastern US region has experienced a rise in the number of earthquakes, the agency said.
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