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Future Mega-City NEOM in Saudi Arabia Receives First High-Profile Holiday Visitor: King Salman
Saudi Arabia’s King Salman arrived yesterday for a holiday in NEOM, the $500 billion future city in the remote northwest corner of the Kingdom near Egypt. It is not known where or for how long the King will stay in NEOM, but according to Reuters, the first contracts awarded for the new city were for 5 […]
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Reports: Houthis Thwarted in Attack on Saudi Oil Tanker
Iran- backed Houthi rebels in Yemen were foiled in an attack in international waters on a Saudi oil tanker, the Saudi Gazette and major news services report. As a result of the “immediate intervention of the [Saudi-backed] Coalition’s fleet” the oil tanker only “sustained minimal damages” in the waters off of port city Hodeidah, the Saudi Press […]
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Report: Saudi Aramco Mulls Stake in SABIC
Saudi Aramco has invited banks to pitch for an advisory role on the potential acquisition of a strategic stake in Saudi Basic Industries Corp (SABIC), two sources with direct knowledge of the matter told Reuters. Riyadh-listed SABIC, the world’s number-four chemical firm, is 70 percent owned by the Public Investment Fund, Saudi Arabia’s top sovereign […]
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ACWA Power to Build 100MW Solar Project in South Africa Following Major Investment Announcements from Saudi, UAE
ACWA Power says it will begin construction this year on a 100MW solar energy plant in South Africa as Saudi Arabia and the UAE announced that the two countries will invest a combined $20 billion into the country, according to reports. The 100MW Redstone concentrated solar thermal power (CSP) plant, whose construction had initially been scheduled […]
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Exclusive: Engineering Giant Bechtel Launches New Women’s Empowerment Program in Saudi Arabia
Global engineering and procurement giant Bechtel Corporation will launch a new pioneering program for women’s empowerment in Saudi Arabia, set to be announced this month and rolled out this fall, SUSTG has learned. Working with Al Khaleej Training and Education organization, the program aims to increase women’s participation in the country’s workforce through training and […]
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Saudi Arabia Selected for MSCI Inclusion; Analysts Expect Significant Capital Inflows
Following years of effort by Saudi officials to increase transparency in its stock market, the Kingdom won inclusion into MSCI, Inc.’s highly sought-after emerging market index, expanding the asset class by as much as $600 billion for the Kingdom. The news, announced overnight in Saudi Arabia, was welcomed by Saudi officials and executives at the […]
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Saudi Ambassador to the United States Prince Khaled bin Salman Issues Statement on Hodaidah
Saudi Arabia’s ambassador to the United States HRH Prince Khaled bin Salman has issued a statement on Twitter concerning the recent moves by the Kingdom and its Arab allies on the port city of Hodaidah in Yemen, blasting the Iran-backed Houthi rebels for worsening the humanitarian situation in the war-torn country. Yesterday, Saudi Arabia and […]
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Nasdaq Dubai to Launch Futures Trading in Saudi Quoted Companies before End of Year
Nasdaq Dubai will launch futures trading in Saudi quoted companies “before the end of this year,” according to reports, marking the first time Saudi stocks can be traded in derivative form. The move will allow global investors to trade shares in Saudi Arabian listed companies via contracts to buy or sell shares at a set price in […]
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New Tax Gains Redistributed to Support Saudi Safety Net but Takes Toll on Balance Sheet, Report Says
New tax earnings for Saudi Arabia’s government were offset by expenditures toward programs comprising the Kingdom’s safety net for lower income citizens, according to a Bloomberg report which cited Ministry of Finance figures. The increase in the kingdom’s spending on wages and social benefits during the first quarter “exceeded what it accrued through higher taxes […]
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Oxford Business Group Survey of CEOs finds Confidence high in Saudi Arabia
Executives have welcomed signs that change is afoot in Saudi Arabia, although many are also keen for the pace of economic reforms to be accelerated, a new survey by the Oxford Business Group finds. As part of its second survey on the Kingdom, the global research and consultancy firm asked over 100 C-suite executives from […]
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MUST-READS
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Where in the world is Jared Kushner?
CBS News has confirmed, through an Egyptian government spokesperson, that on Wednesday, Kushner and his team met with Egypt's president Fateh el-Sisi in Cairo, as well as with the foreign minister, Sameh Shoukry.
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Should scientists be on social media? Meet the groundbreaking Saudi researcher who thinks so
Al-Numair is now one of the first Saudi scientists to major in molecular genetics and programing biological information, a precise science that enables practitioners to read the future of diseases before they come into existence through genetic mutation.
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Is Morocco the next regional hotel hotspot?
Morocco is being hailed as the next hotspot for hotel expansion in the Middle East and North Africa region, with an influx of hotels set to open in the next few years.
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Commentary: Can Al Jazeera Survive Qatar and Saudi Arabia’s Feud?
Today, more than ever, opinion on Al Jazeera is starkly divided. The network’s supporters in the Middle East and the Gulf celebrate it as an outpost of free expression in a region stifled by autocratic rule. Opponents call it a mouthpiece for the Qatari government and for the forces of political Islam.
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Will China buy Saudi Aramco?
The planned sale of a 5 per cent stake in the Saudi state oil company Aramco is still in limbo. There is no clarity on where it will be listed, on its value or, most important, on how the rights of minority shareholders can be protected in an entity that will be 95 per cent owned by the Saudi government.
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Perspective: Can anyone stop Iran from taking over Iraq?
Mosul is back in the Iraqi government’s hands and the war against Isis seems to finally be approaching its end. This is the good news. But one of the by-products of the campaign is that Iran’s reach now extends even deeper throughout Iraq and seems unlikely to go away any time soon.
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Commentary: Reducing Middle East tensions? Saudi-UAE moves hint at willingness to engage with Iran
The exchanges gave credence to suggestions that Saudi Arabia and the UAE may be seeking a reduction of tension with Iran. Yet, they occurred before the Gulf crisis erupted in which Saudi Arabia and the UAE demanded, among other things, that Qatar reduce its relations with Iran.
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Perspective: Is Trump’s Middle East Peace Effort Dead in the Water?
What gives rise to this conclusion is a sober-eyed assessment of the political circumstances of the three critical players: Israeli Prime Minister Benjamin Netanyahu, Palestinian President Mahmoud Abbas, and Trump himself. All three of them face dramatic challenges that make any serious movement impossible.
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How Will Oman’s Next Sultan Steer Muscat’s Foreign Policy?
Most of Muscat’s foreign policy trajectory relies on the 46-year leadership of Oman’s monarch, Qaboos bin Said Al Said. However, with ailing health at 76 years old and without any children of his own, the sultan has largely kept his succession plans somewhat vague. As a result, it is worth asking whether or not his successor will maintain Muscat’s regional foreign policy trajectory or steer Oman on a new course in response to new domestic and regional realities and challenges.
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Why Are More Civilians Dying in US Airstrikes on ISIS?
The debate over the increase in civilian casualties caused by the U.S.-led coalition in the campaign against ISIS grows more contentious by the day, even as the tempo of operations has slowed following the fight for Mosul. A dispassionate and systematic internal assessment is long overdue, for the benefit of civilians caught in today’s wars and tomorrow’s — and for U.S. strategic goals.
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