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Recent stories from sustg

  • Saudi-based Restaurant Management Startup Raises $4m
     

    A restaurant management startup in Saudi Arabia has raised a $4m Series A investment as the Kingdom sees signs of life for new small and medium-sized enterprises (SMEs). Foodics, which is a Saudi-based company, offers an all-in-one iPad-based point of sale and restaurant management system. Foodics raised its venture funding from Saudi VC firms Raed […]

     
  • Saudi Arabia’s ‘Third Rail’ No More? Kingdom Eyes Ambitious Energy Subsidies Cuts By November 2017, Report Says
     

    Energy subsidies have long been a significant drag on the Saudi economy on numerous fronts, but as Vision 2030 reforms move ahead, Saudi Arabia is reportedly eyeing further cuts to its domestic energy subsidy program, long a third rail for Saudi domestic politics. According to a Bloomberg report, the government will aim to phase out “subsidies for gasoline and jet […]

     
  • ‘Shale Oil 2.0’: Uptick in Oil Prices Entices Shale Producers, but ‘Bumps in the Road’ Persist — Jadwa Investment
     

    The recently observed uptick in oil prices has given many US shale oil producers the opportunity to expand production, Riyadh-based Jadwa Investment said in a research note on shale production. “Latest forecasts from the Energy Information Administration (EIA) see US oil production rising by 10 percent year-on-year in 2017, and 3.3 percent in 2018. Alongside the […]

     
  • Saudi Arabia Secures Spot in 2018 World Cup in Russia
     

    Saudi Arabia has secured a trip to compete in the next World Cup in 2018 after defeating Japan 1-0 in their last AFC Round 3 Group B match on Tuesday. The World Cup in 2018 is being hosted by Russia, and matches will be played in cities across the country. According to FIFA, Saudi Arabia finished […]

     
  • Dow Chemical to Buy 15% More of Sadara to Boost Stake to 50%
     

    Dow Chemical plans to buy an additional 15 percent stake in its $20 billion joint venture with Saudi Aramco, the companies said on Monday according to reports. The U.S.-Saudi joint venture, named Sadara, aims to transform Saudi Arabia “from a consumer and importer to a global exporter,” according to Saudi Energy Minister Khalid al-Falih. U.S.-based Dow Chemical […]

     
  • Rules Issued for Small-Scale Solar Generation in Saudi Arabia
     

    Saudi Arabia has issued a regulatory framework for electricity consumers to operate their own, small-scale solar power generating systems and export unused power to the national grid, according to a Reuters report citing a government statement. The rules will come into force next July 1 and cover small photovoltaic facilities with generating capacity of no more […]

     
  • Saudi Ministry of Justice Approves New Protections for Women in Saudi Arabia
     

    The Saudi Ministry of Justice issued four important decisions and proposals to limit the abuse of women, including raising the age that a woman is allowed to marry to 17 years old, according to a report in the Middle East Monitor that cited the Saudi daily Okaz. The Ministry proposed a rule that “permission to […]

     
  • Saudi Arabia is the World’s Largest Arms Importer, Qatar Third – UK Study
     

    Saudi Arabia is the largest arms importer in the world by total sales amount, with regional rival Qatar surging to third largest importer, according to a data released by the UK’s Ministry of Justice. The report sheds light on the flow of arms, weaponry and military equipment around the world. According to the data, which can be […]

     
  • Recent Economic Data for July 2017 Points to Mixed Picture for Saudi Economy
     

    Growth in Saudi Arabia’s non-oil private sector accelerated in July, albeit at a moderate pace, while the expansion in employment slowed, according to a Reuters report citing a Emirates NBD survey. “The seasonally-adjusted Emirates NBD Saudi Arabia Purchasing Managers’ Index (PMI) rose to 55.7 last month from 54.3 in June. A level above 50 means business is […]

     
  • Demands from Qatar Modified to ‘Six Broad Principles’
     

    Saudi Arabia and 3 Arab nations leading a boycott of Qatar are no longer insisting it comply with a list of 13 specific demands they tabled last month, according to reports. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt told reporters at the United Nations they now wanted it to accept “six broad principles.” […]

     

MUST-READS

  • Saudi Arabia condemns Netanyahu’s storming of Palestinian Jordan Valley

    Saudi Arabia’s Ministry of Foreign Affairs strongly condemned Israeli Prime Minister Benjamin Netanyahu’s storming of the Palestinian Jordan Valley in what it described as a “provocative attempt” to expand illegal settlements, the Saudi Press Agency (SPA) reported on Thursday. The Israeli PM’s intrusion “aims to expand settlements that violate all international laws and legitimate decisions,” SPA cited a ministry statement as saying.

  • Saudi surgeon performs world’s first robotic heart transplant on teen

    A Saudi surgeon has performed the world’s first robotic heart transplant on a teenager in the Kingdom. The two-and-a-half-hour surgery, led by Saudi cardiac surgeon Dr. Feras Khaliel at the Kingdom’s King Faisal Specialist Hospital and Research Center (KFSHRC), was carried out on a 16-year-old suffering from stage four heart failure.

  • Analysis: Saudi’s NEOM Dream Deferred: Low Funds, High Risk And China-US Strategic Rivalry

    In April this year, Saudi Arabia revised its target for The Line – a unique linear city inside NEOM which has received global attention for its avant-garde architecture and a revolutionary concept of carbon-neutral urban living. The kingdom announced a massive scaling-down in the size of the metropolis from 105 to 1.5 miles along with a decrease in likely inhabitants to 300,000 from original target of 1.5 million.

  • Saudi Arabia’s Turki Al-Shaikh tops list of most influential people in boxing, MMA, pro wrestling

    Saudi Arabia's General Entertainment Authority Chair Turki AlShaikh came in the top spot of ESPN ranking of "who currently holds all the influence across boxing, MMA and pro wrestling and how they wield it,” according to Mike Coppinger of ESPN.com. The rankings, which were determined with the help of 30-plus industry power players -- fighters, promoters, executives, lawyers, managers and media -- looked at four factors:

  • Saudi Arabia’s IPI rises 1.6% in July: GASTAT

    Saudi Arabia’s Industrial Production Index (IPI) for July 2024 rose by 1.6% compared to the same month in 2023. This growth was attributed to heightened activity in the manufacturing industry, electricity, gas, steam, and air conditioning supply activities, as well as water supply, sewerage, waste management, and remediation activities, a General Authority for Statistics (GASTAT) bulletin said.

  • Statement Issued Following the Fourth Meeting of High-Level Saudi-Chinese Joint Committee

    Both parties commended the robust economic, trade, and investment relations between the two nations, with Saudi Arabia being China's top trading partner in the Middle East and reciprocally, China being the Kingdom's foremost trading partner. Trade between the two countries reached $48 billion by June 2024, with Saudi exports to China totaling $24 billion and Chinese exports to the Kingdom also amounting to $24 billion.

  • Poverty in Yemen: Tracing the Path to Economic Downturn

    For the last ten years, a complex civil war has engulfed Yemen, leading to one of the worst humanitarian crises in the world. International reports indicate that Yemen currently ranks second globally among countries most affected by acute hunger, with millions of Yemenis facing escalating levels of malnutrition, poverty, and deprivation, as well as a severe shortage of basic services. The conflict development in the Red Sea by attacking the ships, hindering the delivery of humanitarian aid and external funding, has exacerbated the situation and accelerated the collapse of living standards.

  • Saudi Arabia’s Riyadh Air begins noncommercial flights ahead of expected launch

    Saudi Arabia’s new airline, Riyadh Air, began on Thursday operating noncommercial flights ahead of its expected official launch next year. The first flight, RX5001, commenced from Riyadh to Jeddah as part of the airline’s Air Operator Certificate (AOC) process that is required by the General Authority of Civil Aviation (GACA). Riyadh Air is scheduled to start operations in 2025 with plans to fly to over 100 destinations worldwide by 2030.

  • China prioritizes Saudi Arabia in overall diplomacy, particularly in Middle East – Chinese premier

    China puts the development of relations with Saudi Arabia as a priority in its overall diplomacy, especially in its Middle East diplomacy, Chinese Premier Li Qiang said here on Wednesday. He called on both sides to further expand bilateral trade, deepen cooperation in traditional areas such as oil and gas, petrochemicals and infrastructure, explore collaboration in emerging fields like new energy, information and communication, and the digital and green economies, while encouraging their respective companies to invest in each other's countries and working together to maintain global industrial and supply chain stability.

  • Nvidia AI Chips Headed to Saudi Arabia, US Reassesses Export Ban

    The U.S. initially imposed advanced semiconductor sanctions on China in 2023, citing national security concerns. In 2024, the embargo on Saudi Arabia followed for its alleged proximity to China. Interestingly, Nvidia AI chips continue to enter China via smuggling and other channels. Saudi Arabia’s engagement in the AI sector has increased, as evidenced by its participation in AI-driven initiatives and partnerships to reduce its reliance on Chinese firms. This has prompted the U.S. to reevaluate its embargo on the country.