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Recent stories from sustg

  • ‘Signs of Life’ in the Saudi Economy as Indicators Point to Improvements, Growth
     

    Recently-released monthly data show signs of life in Saudi Arabia’s economy, the Arab world’s largest, according to reports. Jadwa Investment’s monthly chartbook for May 2019 shows “marginal economic improvements” with a surge in POS transactions by 19 percent year-on-year and mild improvement in the Kingdom’s non-oil PMI index in March. The Kingdom also saw a net monthly […]

     
  • Saudi Arabia’s PIF Eyes Billions in Debt Raise after Aramco Success – Report
     

    Saudi Arabia’s Public Investment Fund is planning to tap the debt market for billions of dollars, according to a Wall Street Journal report, which cited comments from the country’s finance minister Mohammed Al-Jadaan. The PIF has “begun preliminary talks with banks on a possible bridge loan of as much as $8 billion,” the WSJ reports, […]

     
  • Saudi Arabia to Host 15th Annual G20 Meetings in Riyadh in 2020
     

    Saudi Arabia will host the 15th annual G20 Leaders’ Summit on November 21 and 22, 2020 in Riyadh, the Saudi press agency (SPA) said this week. “Saudi Arabia is fully committed to the G20’s objectives and to the stability and prosperity of the international economic system,” it reported on Wednesday. G20 consists of the 19 world’s largest […]

     
  • Iraqi Prime Minister Adil Abdul-Mahdi Visits Saudi Arabia as Relations Warm
     

    Iraqi Prime Minister Adil Abdul-Mahdi and a delegation visited Saudi Arabia yesterday and met with King Salman and Crown Prince Mohammed bin Salman, as relations between the two nations continue to warm. The Prime Minister’s office said the leaders signed 13 agreements in areas such as trade, energy and political cooperation, without giving further details, according to […]

     
  • Princess Reema Bint Bandar Sworn In as Ambassador to the United States
     

    Princess Reema bint Bandar bin Sultan al-Saud was sworn in on Tuesday as Saudi Arabia’s next Ambassador to the United States, according to the Saudi Press Agency. The swearing in took place at Al-Yamamah Palace in Riyadh. Princess Reema is the first Saudi woman to hold the high-ranking diplomatic post after a royal decree appointed […]

     
  • Saudi-based Telecom Firm Arabsat is SpaceX’s First Commercial Mission, Falcon Heavy Launch Successful
     

    SpaceX’s Falcon Heavy successfully launched its first commercial mission today with Saudi-based telecom firm Arabsat as its customer in a key demonstration for billionaire entrepreneur Elon Musk’s space company in the race to grasp lucrative military launch contracts, Reuters reports and the companies involved confirm. The Falcon Heavy rocket blasted off from Florida’s Kennedy Space Center […]

     
  • Orders for Saudi Aramco’s Debut International Bond Topped $100 billion in ‘Vote of Market Confidence’
     

    Orders for Saudi Aramco’s debut international bond topped $100 billion on Tuesday, Reuters reports, in what amounts to a  “record breaking vote of market confidence” for Aramco after facing investor concerns about government influence over the company. Al-Falih had previously said the $10 billion bond offering had been oversubscribed well above $30 billion. Demand appeared […]

     
  • Saudi Aramco Agrees to Buy 70% Stake in SABIC from Kingdom’s Public Investment Fund
     

    Saudi Arabia’s national oil company Saudi Aramco has agreed to buy a 70% stake in Saudi Basic Industries Corporation (SABIC), the kingdom’s leading petrochemical firm, for $69.1 billion in a private transaction, SABIC said in a press release. The move continues Saudi Aramco’s plans to diversify away from oil to “generating more of its profits […]

     
  • 950,000 SMEs Registered in Saudi Arabia — Jadwa Investment
     

    A recent report by Jadwa Investment highlights the progress being made in the development of Small and Medium-Sized Enterprises (SMEs) in Saudi Arabia and the significance that these crucial elements of a diverse economy can have on sustainable growth in the Kingdom. Saudi Arabia is focusing on SME development with its Vision 2030 social and […]

     
  • Second ‘Mega Entertainment Hub’ Planned for Riyadh Will Be Over 30 Acres
     

    Saudi authorities have announced a second major entertainment hub for citizens and visitors of the Kingdom’s capital city, Riyadh. At over 135,000 square meters (33 acres), the new complex will be located in the Al-Rabwa neighborhood of Riyadh and have metro line access via the Salah Al-Din station of the soon-to-be-completed Riyadh metro mega project, the […]

     

MUST-READS

  • Iran
    The U.S. Has Joined Secret Talks With Israel and the U.A.E. The Topic? Iran.

    The United States is participating in secret talks between the United Arab Emirates and Israel to confront threats posed by Iran, a shared adversary among the three countries.

  • Syria
    Kurds and Arabs in Northeast Syria: Power Struggle or Power Sharing?

    Assad continues to refuse to make any concessions to the region, although his forces lost control of the north more than seven years ago. Erdogan continues to threaten to invade. ISIS sleeper cells carry out attacks on a regular basis. And numerous countries around the world refuse to take back their own citizens who voluntarily joined ISIS, forcing the Self Administration to feed and house thousands of detained foreign ISIS fighters for an indefinite amount of time.

  • Middle East Aviation
    Analysis: Middle East Airlines – Strategic Diversifiers or Serial Destroyers of Capital?

    In 2019 one would be hard pressed to find a frequent international traveler who hasn’t either flown with or heard of one of the four large Middle Eastern airline carriers (or ‘super-connectors’ as The Economist magazine coined this category in a recent article). The small group of airlines includes: Emirates Airlines, Qatar Airways, Etihad Airways and Turkish Airlines; we collectively refer to them in this post as ‘ME Carriers’.

  • Gulf Shipping
    Analysis: Party of One? Maritime Coalition Challenges in the Gulf

    Narrow seas, rugged coastlines, and scattered islands are conducive to disruption activities by the low-signature, fast-moving boats of the IRGC. Small populations and manpower shortages in the Gulf Arab states limit the number of ships that can be manned.

  • Sudan
    A new strongman in Sudan? Experts aren’t so sure

    He boasts tens of thousands of paramilitary forces who have spent years battling insurgents across Sudan as well as rebels in Yemen on behalf of Saudi Arabia and the United Arab Emirates. Experts say he can draw on his family’s vast livestock and gold mining operations in Darfur, as well as funding from Gulf Arab countries, to buy the support of tribal leaders and other local elites. That could be the recipe for a new patronage system like the one that kept al-Bashir in power for three decades.

  • Water
    Oil built Saudi Arabia – will a lack of water destroy it?

    “In Saudi Arabia there are only two sources of water: the sea and deep wells,” says Ahmed Safar Al Asmari, who manages one of Berain’s two factories in Riyadh. “We’re in the central region, so there are only deep wells here.”

  • ME Hotels
    Will Too Many Empty Hotel Rooms in Middle East Require a New Business Model?

    The Middle East saw a 9.3 percent year-over-year increase in hotel rooms in construction as of April 2019. That month’s pipeline data showed 424 hotel projects accounting for 125,052 rooms in construction in the Middle East. United Arab Emirates led with 56,701 rooms, which represented 33.6 percent of the country’s existing supply, followed by Saudi Arabia (42,571 rooms, 42.9 percent of existing supply), according to STR data.

  • Saudi Maritime Law
    What do Saudi Arabia’s moves in maritime law mean?

    Previously, maritime issues were dealt with by the Commercial Court Law, which was published in early 1931 and was based on the Ottoman Commercial Code. The maritime sections of the Commercial Court Law were brief and arguably not suited for modern-day shipping.

  • U.S. Military
    Do American political divisions impact troops? Here’s what enlisted leaders have to say

    About 22 percent of troops who participated in the Military Times survey last fall said they have seen signs of white nationalism or racist ideology within the ranks.

  • Saudi Aramco
    How Big is Saudi Aramco?

    Even if you took every company mentioned so far – BP, Royal Dutch Shell, ExxonMobil, Chevron, Total, ENI, EOG, Occidental, Anadarko, Devon and ConocoPhillips – and added up all their proved reserves, the total would be 101.22 billion BOE. That’s less than 40% of what ARAMCO claims to own.