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Iraqi Prime Minister Adil Abdul-Mahdi Visits Saudi Arabia as Relations Warm
- April 18,2019
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- SUSTG Team
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 […]
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Princess Reema Bint Bandar Sworn In as Ambassador to the United States
- April 16,2019
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- SUSTG Team
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 […]
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Saudi-based Telecom Firm Arabsat is SpaceX’s First Commercial Mission, Falcon Heavy Launch Successful
- April 12,2019
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- SUSTG Team
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 […]
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Orders for Saudi Aramco’s Debut International Bond Topped $100 billion in ‘Vote of Market Confidence’
- April 9,2019
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- SUSTG Team
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 […]
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Saudi Aramco Agrees to Buy 70% Stake in SABIC from Kingdom’s Public Investment Fund
- March 28,2019
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- SUSTG Team
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 […]
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950,000 SMEs Registered in Saudi Arabia — Jadwa Investment
- March 20,2019
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- SUSTG Team
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 […]
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Second ‘Mega Entertainment Hub’ Planned for Riyadh Will Be Over 30 Acres
- March 12,2019
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- SUSTG Team
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 […]
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General Abizaid Faces Tough Questions from U.S. Senators in Confirmation Hearing
- March 7,2019
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- SUSTG Team
President Trump’s choice for the next U.S. Ambassador to Saudi Arabia faced tough questions from U.S. senators but defended the U.S.-Saudi relationship on Wednesday and said the United States needed “a strong and mature partnership with Saudi Arabia.” Retired General John Abizaid’s confirmation hearing in front of the Senate Foreign Relations Committee was the first of this session […]
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Positives Seen in Latest Saudi Government Labor Market Data as Vision 2030 Reforms Take Hold
- March 1,2019
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- SUSTG Team
Saudi Arabia’s workforce saw an increase in female participation and a slight decline in unemployment, according latest data on the Saudi labor revealed in a Jadwa Investment report. The General Authority for Statistics (GaStat) labor market release for Q3 2018 shows that unemployment declined slightly to 12.8 percent, from 12.9 percent in the previous two […]
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Analysis: Vision 2030 is Well Underway. Here’s What’s Needed to Make it a Success.
- February 25,2019
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- Hussain Abusaaq
In 2016, Saudi Arabia’s Crown Prince Mohammed bin Salman announced his “Vision 2030″—the most comprehensive transformation plan in the history of the country, which includes wide-ranging social and economic reforms. Vision 2030 was designed as a 14-year project; however, in its first three years, we have already seen tangible advances, such as fiscal consolidation efforts, […]
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War on Gaza: Netanyahu hindering deal again by changing demands, source says
Israeli Prime Minister Benjamin Netanyahu has returned to his “evasive approach” in the Gaza ceasefire talks, hindering negotiations, an Egyptian source has told the Al-Araby Al-Jadeed news outlet. The source, who was described as “familiar with the negotiations,” said in the Wednesday report that the change in the Israeli positions surprised mediators and slowed recent progress made in the indirect talks with Palestinian movement Hamas. Netanyahu submitted a new list of demands, which included modifications regarding the captives Israel wants to be released, as well as additional conditions related to the timeline for the army’s withdrawal during that phase of the proposed agreement, the source said. He added that talks were “proceeding very well” until the latest Israeli changes.
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How Stealthy F-22 Raptors Learned to Take on Elusive Iranian Threats in the Middle East
As America’s premier air superiority fighter, the F-22 was designed to take on advanced enemy aircraft, capable of maneuvering stealthily and cruising at supersonic speeds. But the dangers that most concerned Johnson and his Airmen included Iranian-designed drones and cruise missiles that Tehran and its proxies have employed during the most recent stretch of unrest in the Middle East. Though the drones posed less of a threat to the F-22s than a high-end Chinese fighter, downing them presented some challenges. Like the F-16s and F-15Es, the F-22s that have been deployed to the region in recent months have Active Electronically Scanned Array (AESA) radars, which makes detecting drones easier, a senior U.S. defense official noted to Air & Space Forces Magazine. But it is still not an easy task. Not only were the drones very small, but their slow speed always made them hard to detect.
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Israel allocates $150m to sway global opinion over Gaza genocide
The 20-fold funding increase aims to boost Tel Aviv’s narrative and justification of its war against the besieged enclave while portraying the Palestinian struggle as “anti-Semitic” and as a form of “Nazi” terrorism aimed at eliminating Jews and to promote Islamophobia in European countries in an effort to paint the Palestinian struggle as no different from Daesh. The aim of such action is to end sympathy or support for the Palestinian cause and justify the genocide being orchestrated in Gaza.
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Unstoppable Oman beat Saudi Arabia 2-1 to enter Gulf Cup final
With temperatures at a chilly 18°C, the electrifying atmosphere was fueled by passionate supporters waving flags and chanting for their teams. Coach Rashid Jaber faced a daunting task, making last-minute changes due to injuries and yellow card suspensions. Still, his confidence in his squad proved well-placed as Oman battled fiercely from start to finish. The game started with Saudi Arabia in control, threading passes and creating early chances. Oman’s goalkeeper, Al Rushaidi, made a brilliant save from a stinging free-kick, keeping the scores level. Saudi’s dominance persisted through the opening minutes, with Oman struggling to find their rhythm.
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Saudi Arabia says it executed six Iranians for drug trafficking
Six Iranian citizens have been executed in Saudi Arabia on charges of drug trafficking, Riyadh’s Ministry of Interior announced on Wednesday. The ministry did not provide further details regarding the time of arrest, trial, and execution. The executions took place in Dammam, located along the coast of the Persian Gulf, according to the official Saudi Press Agency. The Iranians were put to death for their involvement in smuggling hashish into Saudi Arabia, the interior ministry said. Saudi Arabia has executed 330 people this year, marking the highest number in decades, despite Crown Prince Mohammed bin Salman’s 2022 claim that the death penalty would be limited to murder cases under his vision of a modernized kingdom.
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GASTAT: Saudi Women’s Participation in the Labor Force Reaches 36.2%
The General Authority for Statistics (GASTAT) released today the Labor Market Bulletin for the third quarter of 2024. Figures show that the unemployment rate among Saudis in Q3 of 2024 was 7.8%, an increase of 0.7 percentage points over Q2 of this same year, and a year-on-year decrease of 1 percentage point from Q3 2023. The bulletin also shows that the Saudi and non-Saudi labor force stood, in Q3 of this year, at 66.6%, a 0.4 percentage point increase over Q2 of 2024. Among Saudis, the labor force grew by 0.7 percentage points in Q3 2024, to reach 51.5%, marking a year-on-year increase of 0.7 percentage points. The employment-to-population ratio among Saudis went up by 0.2 percentage points, reaching 47.4%, or an annual growth of 1.1 percentage points. The bulletin also highlighted the growth of Saudi women's participation in the labor force, which increased by 0.8 percentage points, to 36.2%, in the mentioned period.
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Saudi Arabia’s unemployment rate hits 3.7%: GASTAT
Saudi Arabia’s unemployment rate dropped to 3.7 percent in the third quarter of 2024, down 0.5 percentage points from last year, official data showed. According to data released by the General Authority for Statistics, labor force participation across Saudis and non-Saudis reached 66.6 percent during the third quarter, reflecting a year-on-year increase of 0.2 percentage points and a quarterly rise of 0.4 percentage points. The unemployment rate increased by 0.4 percentage points compared to the second quarter of this year.
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Saudi Arabia orders removal of unlicensed hospitality venues from booking sites, warns of $266,000 fines
This directive is part of a broader campaign aimed at improving adherence to licensing and classification standards within the hospitality sector. The ministry seeks to ensure that all facilities meet the conditions and requirements stipulated in the Tourism Law and its associated regulations. The ministry stressed that all tourist and private hospitality facilities must obtain or renew their licences before commencing operations. Operating without a valid licence will result in penalties, including fines of up to SR1m ($266,000), facility closure, or both. Violations may also be disclosed publicly.
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Saudi Arabia bans use of ‘sponsor,’ mandates ’employer’ for government and private entities
The Ministry of Commerce in Saudi Arabia has instructed both government and private entities to refrain from using the term 'sponsor' and instead use 'employer' in all official documents. The ministry emphasised that, according to Article 2 of the Labour Law, the term 'employer' refers to "any natural or legal person who employs one or more workers in return for a wage." This directive was conveyed through a letter sent by the Ministry to the Federation of Saudi Chambers, which subsequently issued a circular to chambers of commerce and industry across the Kingdom.
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Saudi Arabia launches humanitarian air bridge to Syria to deliver food, shelter and medical supplies
Saudi Arabia on Wednesday launched a humanitarian air bridge to Syria, delivering food, shelter and medical supplies' The air bridge, established by the King Salman Humanitarian Aid and Relief Centre (KSrelief), aims to 'alleviate the effects of the difficult conditions currently facing the Syrian people', the official Saudi Press Agency reported. Others, including the European Union and Ukraine, have also announced aid for Syria, where the United Nations said seven out of 10 people need support. Riyadh's air bridge will 'be followed by another land bridge in the coming days,' said Abdullah al-Rabeeah, the head of KSrelief.
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