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Recent stories from sustg
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Vision 2030 Marks 8th Year Since Launch
Launched on April 25, 2016, Vision 2030, Saudi Arabia’s blueprint for economic and social transformation marks it 8th year and the halfway point between 2016 and 2030.
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IMF Launches New Regional Office in Saudi Arabia
The goal of the new office is to strengthen the IMF’s collaboration with governments and institutions in the Middle East including promoting economic stability, growth, and regional integration. It also underscores the growing economic importance of the region.
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Saudi’s Regional Headquarters Program Moves Forward
In February the Zakat, Tax and Customs Authority published guidelines specifying RHQ tax rules. Under the new rules, specific activities qualify for tax incentives. The new RHQ tax rules aim to clarify the scope and conditions of tax relief for RHQ entities, as announced by MISA in December 2023.
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EU announces five-year Schengen visas for Saudi, Omani and Bahraini citizens
The EU will now allow citizens from Saudi Arabia, Oman, and Bahrain to apply for five-year Schengen visas. This marks a significant step forward in strengthening people-to-people relations between the EU and the GCC.
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Global Defense Spending Spikes in 2023
According to a study by Forecast International in 2023 global defense spending grew at its fastest pace in the last decade as governments respond to security crises unfolding around the world.
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IMF Sees OPEC+ Turn on Oil Production as Boon for Saudi Economy in 2025 – Report
The International Monetary Fund said it expects OPEC and its partners to start increasing oil output gradually from July, “a transition that’s set to catapult Saudi Arabia back into the ranks of the world’s fastest-growing economies next year,” according to a report in Bloomberg. “We are assuming the full reversal of cuts is happening at the beginning of 2025,” […]
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Prospects for Saudi Arabia hitting 2030 Renewable Energy Targets
In 2016 Saudi Arabia’s Vision 2030 had an initial target of deploying 9.5GW of green energy by 2030. The latest revision made in 2023 targets 130GW of renewable power capacity by 2030. GlobalData, a leading data and analytics company, says the Kingdom can come close to that target.
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Saudi Arabia Moves Closer to $1 Billion stake in a Pakistani mine – Report
Saudi Arabia is moving closer to a potential deal to acquire a minority stake in a Pakistan mine controlled by Barrick Gold Corp., people with knowledge of the matter told Bloomberg.
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Saudi Arabia Fares Well in 2024 Kearney FDI Confidence Index
Ongoing economic and business-related reforms helped the United Arab Emirates and Saudi Arabia post the biggest jumps in Kearney’s 2024 Foreign Direct Investment Confidence Index. The countries climbed ten spots from 2023, to eighth for the UAE and 14th for Saudi Arabia.
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Saudi defense minister receives phone call from US counterpart; Kingdom denies role in shooting down Iranian attack
Saudi Minister of Defense Prince Khalid bin Salman received on Sunday a phone call from U.S. Secretary of Defense Lloyd Austin, according to reports.
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Saudi crown prince meets Pakistani premier, stresses India-Pakistan dialogue
Saudi Crown Prince Mohammed bin Salman said dialogue was needed to resolve heightened friction between arch-rivals Pakistan and India during a meeting in Riyadh with visiting Pakistani Prime Minister Shehbaz Sharif. Sharif was making his first overseas visit since winning power in elections in February. He met with bin Salman on Sunday. "The two sides stressed the importance of dialogue between Pakistan and India to resolve the outstanding issues between the two countries, especially the Jammu and Kashmir dispute to ensure peace and stability in the region," a joint statement released by Pakistan's foreign office and the Saudi government said.
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UAE projects power in India-Pakistan reconciliation talks
After years of growing friction, India and Pakistan in recent weeks have moved towards somewhat of a detente, with a surprising interlocutor reportedly encouraging the two to bury the hatchet: the United Arab Emirates. Emirati involvement in South Asia is nothing new, yet Abu Dhabi appears to be taking a more significant diplomatic role, which analysts say is a chance for the wealthy Gulf country to further project power.
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Secret India-Pakistan Peace Roadmap Brokered by Top UAE Royals
Yet behind closed doors, the India-Pakistan cease-fire marked a milestone in secret talks brokered by the UAE that began months earlier, according to officials aware of the situation who asked not to be identified. The cease-fire, one said, is only the beginning of a larger roadmap to forge a lasting peace between the neighbors, both of which have nuclear weapons and spar regularly over a decades-old territory dispute.
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India-Pakistan crisis: Saudi Arabia aims to de-escalate tensions
Saudi Arabia has said it will work to de-escalate tensions between India and Pakistan, ahead of Crown Prince Mohammed bin Salman's arrival in Delhi. The prince, known as MBS, is on a tour of Asia and has just visited Pakistan.
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Perspective: How Trump Will Affect the India-Pakistan Balance of Power
Although there are enormous uncertainties, the tea leaves point to a limited commitment to Afghanistan, an even more skeptical and conditional patronage of Pakistan than we already see, and a relationship with India that although warm in tone will leave it far more isolated in facing growing Chinese power.
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What the Next US President Needs to Know About Rising India-Pakistan Tensions
Pakistan, in particular, finds itself once again at the center of the tussle between China, Russia, and the United States
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Amid Ongoing India-Pakistan Clashes, Is Diplomacy Possible?
Since becoming independent in 1947, India and Pakistan have fought three wars. Two of them have been over Kashmir, which they both claim in full but rule in part.
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That part of the India-Pakistan border that’s all beer and gunshots of joy
Only a giant, inflated neon Mountain Dew gave any indication that the race had corporate sponsors. Most participants funded their own rally cars, mechanics, transport, accommodation, and food. I was lucky to have accommodation in a private camp. Most spectators and journalists were only given a tent a few square feet of the parking lot, where they were to pitch it.
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Five more civilians killed in worst India-Pakistan fighting for years
The fighting comes at a time of changing power dynamics in South Asia, with Pakistan's army taking a more assertive role in politics and India's new nationalist Prime Minister Narendra Modi promising a more muscular foreign policy. Pakistani Prime Minister Nawaz Sharif has been weakened by opposition protests that started in August. He won the army's backing but in the process ceded space to the generals on some issues, including relations with India.
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