Analysis

CORRUPTION

King Salman Issues Rare Royal Decree Firing Tourism Officials over Corruption Allegations – SPA

• SUSTG Team
• |
• 8. 21. 2020

Saudi Arabia's King Salman has issued a rare royal decree firing a number of officials for legal violations and alleged corruption at tourism projects, including the Red Sea Project and Al-Ula, state news agency SPA reported.

• King Salman

  

  Saudi Arabia’s King Salman Arrives in NEOM for Vacation, Recovery Period

  SUSTG Team  |  8. 13. 2020

  Saudi Arabia's King Salman bin Abdulaziz traveled to NEOM in the Kingdom's northwest on Wednesday for a period of rest and relaxation, according to state news agency SPA and Reuters.

• Education

  

  Saudi Arabia’s Schools, Universities Eye August 30th for Restart of Educational Programs

  SUSTG Team  |  8. 6. 2020

  Saudi Arabia is beginning to plan to reopen its schools and universities with a target date of August 30th, according to reports. The Kingdom closed schools and universities on March 9.

• Economy

  

  Report: Saudi Arabia’s Government Revenue in 2Q 2020 Down by 49% Year-on-Year, but Diversification Push Continues Apace

  SUSTG Team  |  7. 28. 2020

  The twin crises of the Coronavirus and Saudi-led efforts to stabilize the price of oil in the second quarter of this year lead to a sharp decline in the Kingdom's government revenues, Bloomberg reports.

• Oil Markets

  

  For Global Oil Demand, ‘The Worst Seems to be Over’

  SUSTG Team  |  7. 21. 2020

  According to latest OPEC forecasts, "the worst seems to be over with respect to global oil demand" as expectations of a rebound for the second half of this year and a positive forecast for 2021 brighten outlooks, a recent report from Riyadh-based Jadwa Investment says.

• NEOM

  

  U.S. Corporation Air Products and Chemicals, NEOM, and ACWA Power Sign Accord for $5b Renewable Energy-Powered Ammonia Plant

  SUSTG Team  |  7. 8. 2020

  U.S. corporation Air Products and Chemicals signed an accord with Saudi-based ACWA Power International and the kingdom’s planned futuristic city of NEOM to develop a $5 billion hydrogen-based ammonia plant powered by renewable energy, according to reports.

• 

  KAUST Studies How Saudi Arabia’s Red Sea’s Coral Reefs Help Protect the Kingdom’s Coastline

  SUSTG Team  |  7. 2. 2020

• Economy

  

  Easing of Lockdown in Saudi Arabia Beginning to Show in Economic Data, Jadwa Report says

  SUSTG Team  |  7. 1. 2020

  The partial easing of lockdown restrictions in May was reflected in some economic indicators during the month, Jadwa Investment reports in its latest economic chartbook for that month.

• Economy

  

  For the First Time Since January, Kingdom’s Net Foreign Assets Rise

  SUSTG Team  |  6. 29. 2020

  Saudi Arabia’s net foreign assets rose in May for the firs time since January, Bloomberg reports, a reversal of three months of declines.

• Economy

  

  KAPSARC: Estimating the Impact of the COVID-19 Pandemic on Saudi GDP

  SUSTG Team  |  6. 11. 2020

  Riyadh-based think tank KAPSARC recently released a report examining the estimated impact of the COVID-19 Pandemic on Saudi GDP, finding a "medium scenario" of severity as described in the report most likely.