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Inexpensive solar panels are super-charging renewable energy growth
- October 25,2024
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- SUSTG Team
Solar PV and wind additions are forecast to more than double by 2028 compared with 2022, continuously breaking records over the forecast period to reach almost 710 GW.
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IMF World Economic Outlook releases KSA forecasts for ’24 and ’25
- October 23,2024
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- SUSTG Team
In its just-released World Economic Outlook Report the International Monetary Fund further lowered its GDP growth forecast for Saudi Arabia for 2024 to 1.5% and estimated growth to accelerate to 4.6% next year.
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Saudi Finance Minister makes strong case for multilateralism at IMF, World Bank meetings
- October 23,2024
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- SUSTG Team
Saudi Finance Minister Mohammed Al Jadaan appealed for a strong defense of multilateralism, warning of the challenges that global fragmentation poses to trade and humanitarian efforts.
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16th BRICS summit in Russia October 22-24
- October 22,2024
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- admin
The 16th BRICS summit kicked off today in Kazan, Russia.
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New Murabba project hits early milestone
- October 21,2024
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- SUSTG Team
The ambitious $50 billion New Murabba project has excavated 10 million cubic meters in preparation for construction as it works to meet a December 2030 deadline.
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Lucid CEO discusses EVs and Saudi investment
- October 18,2024
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- SUSTG Team
Lucid CEO, Peter Rawlinson, chats with Liz Hoffman and Semafor about the EV market, Elon Musk and Saudi Arabia’s Public Investment Fund.
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BBC Travel’s superb feature on Swizz Beatz and his love for AlUla and Saudi Arabia
- October 17,2024
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- SUSTG Team
Bronx-born entertainer Kasseem Daoud Dean – Swizz Beatz – talks with Eva Sandoval and BBC Travel for a remarkable discussion of his favorite places in Saudi Arabia.
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First EU-GCC Summit today in Brussels
- October 15,2024
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- admin
The first summit between the leaders of EU and Gulf Cooperation Council (GCC) takes place today, October 16, 2024, in Brussels. The summit is co-chaired by Charles Michel, President of the European Council, and H.H. Sheikh Tamim bin Hamad Al Thani, Emir of Qatar, the current rotating President of the GCC.
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Global Logistics Forum 2024 concludes in Riyadh
- October 14,2024
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- admin
The Global Logistics Forum (GLF) hosted by the Ministry of Transport and Logistic Services, gathered industry leaders from the region October 12-14, 2024, at the King Abdullah Financial District.
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US approves new arms sale to KSA
- October 14,2024
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- SUSTG Team
Saudi Arabia has received clearance from the U.S. State Department to purchase missiles, ammunition and other weapon systems via three foreign military sale transactions worth potentially $1.05 billion.
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MUST-READS
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Saudi Arabia rebrands as mediator for global crises
Saudi Arabia's Crown Prince Mohammed bin Salman is increasingly busy hosting state leaders who fly in to discuss pressing global conflicts. This Monday, Ukrainian President Volodymyr Zelenskyy met the Saudi Crown Prince to speak about Russia's war in Ukraine. This is ahead of a Tuesday meeting between Ukrainian and a US teams set to negotiate a potential end to Russia's war of aggression, as well as a security deal that would include US access to Ukraine's valuable mineral and metal deposits. It will be the first time that Ukrainian and US delegates talk face-to-face after the public spat between US President Donald Trump and President Zelenskyy in the White House in late February. The fact that the two countries have agreed to meet in Saudi Arabia — and not, say, in Europe — highlights the emerging key position of the oil-rich kingdom in the Middle East. "Saudi Arabia has indeed established itself as a platform for dialog in the last two to three years," Sebastian Sons, a senior researcher for the German think tank CARPO, told DW. "In Saudi Arabia's foreign policy strategy, it currently plays a very important role to talk to everyone," he added.
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Back to Violence in Syria?
Mohanad Hage Ali is the deputy director for research at the Malcolm H. Kerr Carnegie Middle East Center in Beirut, where his work focuses on the shifting geopolitics and Islamist groups after the Arab uprisings. Hage Ali has long been following developments in Syria, and Diwan interviewed him in early March to get his perspective on the situation in the country, particularly the growing tensions between the new leadership in Damascus and Syrian minority communities, as well as Israel’s intentions in Syria.
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Saudi Arabia, Ukraine Issue Joint Statement Emphasizing Strong Economic Ties and Collaborative Efforts to Enhance Trade Volume
The Kingdom of Saudi Arabia and Ukraine commended the strong economic ties between the two friendly countries and emphasized the importance of joint action to develop the volume of trade exchange. The two sides also welcomed the upcoming reestablishment of the Saudi-Ukrainian Business Council in 2025. This came in a joint statement issued following the visit of Ukrainian President Volodymyr Zelenskyy to the Kingdom of Saudi Arabia, the text of which reads as follows: "Within the framework of distinguished relations and close cooperation between the Kingdom of Saudi Arabia and Ukraine, President of Ukraine Volodymyr Zelenskyy paid an official visit to the Kingdom of Saudi Arabia on March 10, 2025. His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, received President Zelenskyy at Al-Salam Palace in Jeddah. They held an official discussion session, during which they reviewed the aspects of the distinguished relations between the two friendly countries, and expressed their desire to enhance them in all fields.
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US wants Ukraine to ‘do difficult things,’ Rubio says ahead of Saudi ceasefire talks
The two sides have framed Tuesday's talks as a way to reset bilateral relations following last month's explosive Oval Office meeting between Trump, Zelenskyy and Vice President JD Vance. The showdown prompted Trump to denounce Kyiv as the main impediment to peace in Ukraine, as well as placing a freeze on U.S. military aid and some intelligence sharing. "The most important thing that we have to leave here with is a strong sense that Ukraine is prepared to do difficult things," Secretary of State Marco Rubio -- who will lead the U.S. delegation -- said on Monday ahead of the talks. Zelenskyy has stressed his readiness for peace, though repeatedly warned that any agreement must ensure deterrence against future Russian aggression. On Monday, Zelenskyy -- who will not take part in Tuesday's talks -- traveled to Saudi Arabia to meet with crown prince and de facto ruler Mohammed bin Salman.
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Damascus faces demands for accountability after civilian killings
Syria's Islamist-led government on Monday said it had completed a military operation against a nascent insurgency by Bashar al-Assad loyalists, as it faced Western demands for accountability over the reported killing of hundreds of civilians. The violence in Syria's coastal region marks the biggest test for interim President Ahmed al-Sharaa since he seized power in December, with hundreds of civilians reported by a war monitor to have been killed in Alawite villages as government forces sought to crush the insurrection by members of Assad's minority Alawite sect.
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The Politics of Water Insecurity in the Middle East
The Middle East is no stranger to water scarcity and violence. For centuries, conflict has exacerbated water insecurity and vice versa. But the region is now at a tipping point. Groundwater aquifers are running dry or becoming contaminated, populations are exploding, and borders are more hardened than ever, making resettlement—a time-tested survival strategy—impossible. As is the case across much of the region, water security fell prey to the lack of political progress on resolving underlying conflicts. Without that political progress, donor governments and aid agencies have resorted to applying technical fixes to political problems. But in the Palestinian territories, as in much of the world, water insecurity has been a sign of deeper dysfunction.
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Zelenskyy arrives in Saudi Arabia to meet prince ahead of summit with U.S.
Ukrainian President Volodymyr Zelenskyy arrived Monday in Saudi Arabia for a visit with its powerful crown prince ahead of his team’s meeting with America’s top diplomat. While Zelenskyy won’t be there, his team will try to repair the damage done when his Feb. 28 visit to Washington descended into an Oval Office argument with President Donald Trump and Vice President JD Vance. At stake is the military aid and intelligence previously offered by the United States that had helped Ukraine since Russia’s full-scale invasion in 2022. U.S. Secretary of State Marco Rubio and Zelenskyy landed a few hours apart in Jeddah, a port city on the Red Sea where the Ukraine-U.S. summit will take place Tuesday.
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Perspective: How Saudi Arabia and the US might reset the Middle East
A new order is emerging in the Middle East. For decades, Iran wielded influence across the region by cultivating a network of proxies that created instability in several Arab countries, from Lebanon to Yemen. Today, however, Iran’s regional status is drastically diminished. In contrast, Saudi Arabia is establishing itself as the most influential power in the Arab world. With Donald Trump’s administration back in Washington, Saudi Arabia and the United States can strengthen their partnership to neutralize the threat of destabilization by Iran and alter the balance of regional power for a generation. Until 2023, Iran had prided itself on what it called the ‘axis of resistance’ – its network of proxies and allies in the Arab world. Today, that ‘axis’ is no more. Israel has defeated both Hamas and Hezbollah militarily. Most of Iraq’s PMFs have largely distanced themselves from the rest of Iran’s proxies’ war with Israel.
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Saudi market performance since March 2009 bottom
Sixteen years have passed since the Tadawul All-Share Index (TASI) hit its lowest level on March 9, 2009, at 4,130 points amid the global financial crisis. The benchmark rebounded in the second half of 2007 and early 2008, driven by petrochemical stocks that hit record highs, pushing the index close to 12,000 points. However, the global crisis, which sparked in mid-2008, weighed on the markets worldwide. TASI ended today, March 9, 2025, at 11,837 points — a surge of 187%, compared to its close on March 9, 2009. However, the index declined by 6.1% (763 points), down from 12,600 points in March 2024.
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PIF launches Al Waha, first Saudi-owned duty-free retailer
PIF today announced the establishment of Al Waha Duty-Free Company (Al Waha), a travel retailer and the first Saudi-owned duty-free operator. Al Waha, a wholly owned PIF company, will become a leader in travel retail and secure a greater share of passenger spending for the Saudi economy. Al Waha will develop luxury retail outlets in select locations across the country and feature a variety of merchandise including distinctive, high-quality Saudi products. Al Waha will operate its airport outlets on a duty-free basis, and will explore additional travel retail opportunities at land border crossings and seaports, as well as channels such as inflight shopping. Majed Al-Assaf, Head of Consumer Goods and Retail in MENA Investments at PIF, said: “By establishing Al Waha as a national travel retail champion, PIF intends to grow the Saudi travel retail industry and further support its ambitions for the tourism sector in Saudi Arabia. Al Waha will offer a distinctive traveler experience across Saudi travel retail touch points through diverse product offerings, a duty-free operation and a superior digital customer journey.
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