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Recent stories from sustg


  • Lebanon
    Lebanon weighs defaulting Eurobond next month

    Lebanon’s finance minister said Thursday that its new government is weighing whether to pay or default on its $1.2 billion Eurobond maturing next month, amid an economic crisis that has sparked months of unrest. Lebanon is facing a deepening liquidity crunch and a soaring public debt. Lebanese banks raised interests rates in a bid to attract foreign investments — but now the influx of foreign currencies has dried up and the Central Bank’s foreign currency reserves are shrinking.

  • Tourism
    Plans to Develop AlUla, Saudi Arabia Into the ‘World’s Largest Living Museum’ by 2035 Unveiled

    Saudi Arabia aims to host two million visitors a year in AlUla by 2035. The RCU estimates the project will create more than 67,000 new jobs - almost half of them in the tourism sector.

  • Global Oil Markets
    Oil Set for Biggest Weekly Gain in 5 Months as Virus Fear Eases

    After several weeks of falling crude prices, Chinese refiners are now snapping up cheap cargoes, taking many traders by surprise. That follows the World Health Organization’s view that the sharp increase in the number of virus cases reported in China’s Hubei province this week doesn’t necessarily reflect a sudden jump in new infections.

  • Oman
    Is tourism the antidote to youth unemployment in Oman?

    “I am pretty sure the economy will dictate certain unavoidable reforms in the next few years,” John Sfakianakis, the chief economist of the Saudi Arabia-based Gulf Research Center, told Al-Monitor. In an attempt to energize the domestic economy, the country’s road map for social and economic reform identifies five high-priority sectors, including the employment-intensive tourism industry. Ranked as one of the fastest growing industries in the world, the tourism sector could employ a total of 535,000 people, directly and indirectly, in Oman by 2040 to cater to 11 million visitors.

  • U.S. Congress
    Senate passes resolution to limit Trump’s power to order military action against Iran

    Eight Republicans joined all Democrats in voting 55 to 45 for the measure, despite sharp warnings from Trump that challenging his war powers would “show weakness” and send “a very bad signal” to Tehran. Trump will almost certainly veto the measure once it passes the House, and neither chamber of Congress has the votes to override that veto, lawmakers say.

  • Syria
    Turkey-Syria clashes escalate as 800,000 displaced people battle bitter temperatures

    Despite continued talks between Russia and Turkey no new cease-fire or de-escalation agreement has been reached between the two sides. Instead, President Recep Tayyip Erdogan threatened Wednesday to escalate the conflict beyond Idlib’s borders if another Turkish soldier was hurt.

  • Libya
    Perspective: Macron’s Plan to End the Libyan Conflict Only Made Things Worse

    Today Libya is a nation in name only. Haftar’s forces have laid siege to Tripoli for 10 months, and France is increasingly marginalized in a region where it was once the dominant player. When Libya is discussed this weekend at the Munich Security Conference, it will be Russia and Turkey who are the diplomatic heavyweights.

  • Tourism
    Giga projects drive tourism in Saudi Arabia

    The PIF has announced that Amaala will sit alongside Neom and the Red Sea Project as part of the giga-projects investment portfolio, helping to establish a unique tourism ecosystem, supporting economic diversification and creating high-value job opportunities.

  • Turkey in the Region
    Saudi Arabia accuses Turkey of supporting extremist militias in three Arab countries

    Al-Jubeir stated in a press conference on the sidelines of his visit to the Romanian capital, Bucharest, to meet officials there, on Thursday: “We oppose Turkey’s incursion into Syria, and we oppose Turkey’s support for militias in Somalia, Syria and Libya.”

  • Saudi Cinema
    Love on Saudi Arabia’s silver screens

    The love story is a relatively new concept in Saudi movies, but filmmakers and actors are finding they are increasingly able to portray this aspect of life from the Kingdom’s perspective.