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Recent stories from sustg
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In Speech, King Salman Delivers His Vision for Saudi Arabia
Saudi Arabia’s King Salman gave a speech highlighting his vision for Saudi Arabia and discussed key subjects such as energy, job creation, and stability. King Salman said Saudi Arabia was trying to minimize the impact of plunging oil prices on its economy, according to Arab News. “The low prices witnessed by the oil market are having an […]
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IHS Jane’s: Saudi Arabia is the World’s Largest Defense Importer, and Largest Buyer for the United States
Saudi Arabia replaced India as the largest buyer of defense equipment and weaponry worldwide in 2014, and the largest importer from the U.S., according to IHS Jane’s. One out of every seven dollars spent on defense imports in 2015 will be spent by Saudi Arabia, the British military publication said. Ben Moores, senior defence analyst at […]
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The State of Internet in MENA 2015: Growth in Full Throttle (But Beware of Bumps)
It’s an exciting time for MENA’s online industry. While traditional industries’ investors are starting to worry – due to low oil prices, a potential slowdown in construction and real-estate, and eroding margins in telecom and banking- online businesses continue to thrive, thanks to high demand and adoption of transactional services, as well as the transformation […]
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#FocusKSA: SUSTG Speaks with Sharif Atta of SQM Frontier Management on the Opening of the Saudi Stock Market to Wider Foreign Investment
Sharif Atta of SQM Frontier Management speaks with SUSTG’s Richard Wilson on the opening of the Tadawul, or Saudi Stock Market, to wider foreign investment this Spring. The conversation is part of SUSTG and SUSRIS’ ongoing #FocusKSA discussions on Saudi Arabia.
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Secretary of State John Kerry Heads to Riyadh for a ‘Full Schedule’ Visit; Moment Seen as a ‘Get-to-Know You’ Opportunity for the Secretary
U.S. Secretary of State John Kerry is visiting Saudi Arabia for what the State department called a “full schedule” of meetings with King Salman, GCC ministers, Deputy Crown Prince Mohammed bin Nayef, and Minister of Foreign Affairs Prince Saud al Faisal. Secretary of State John Kerry will arrive Wednesday night and stay overnight in Riyadh. On Thursday, […]
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MERS Still ‘Baffling’ Scientists as WHO Criticizes Implementation of Prevention Methods in Saudi Arabia; Riyadh Hospital Temporarily Closed
As MERS cases spike in Saudi Arabia, a delegation of World Health Organization (WHO) and other international organizations visited Saudi Arabia and concluded that the Kingdom must do more to combat the spread of the disease, particularly in hospitals, according to a press release from the WHO today. “Although data collection and surveillance have improved globally […]
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Saudi MCI Proposes New E-Commerce Law
Saudi Arabia’s Ministry of Commerce and Industry has proposed a new draft e-commerce law to govern online transactions in the Kingdom. The eCommerce market share in Saudi Arabia will hit $13.3 billion in 2015, so a new law, if passed, would help to regulate the growing industry. According to the website Tfour.me, Saudi Arabia’s online retail […]
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A Transitioning Kingdom of Saudi Arabia: SUSRIS Interviews Theodore Karasik
This week, SUSRIS featured in two parts a wide-ranging interview with Dr. Theodore Karasik in which the expert discussed the recent transition in Saudi Arabia and the implications for regional and global affairs. Karasik, based in Dubai as a Senior Advisor to Risk Insurance Management and formerly Director of Research and Development at the Institute for […]
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Discovering Business in Saudi Arabia 2014-2015
The Saudi-British Relations Information Service (SBRIS), shares with its readers the 2014-2015 Discovering Business handbook published by Allurentis Ltd, in association with UK Trade and Investment and the Saudi Committee for International Trade. The report series, now available on SBRIS in three sections with more forthcoming, highlights key sectors and provides important, in-depth data on the […]
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HRH Saudi King Abdullah Donates $104M for Syria Food Aid following World Food Program Shortfall
The Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz contributed $104 million to the World Food Program (WFP) to help meet an urgent need for funding to continue food distribution to millions of refugees sheltering in countries neighboring Syria, in Ethiopia and in Kenya, the Embassy said in a press release. “The contribution […]
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Saudi Arabia calls on businesses to submit tax returns or face fines
The Zakat, Tax and Customs Authority (ZATCA) has called on businesses subject to Value Added Tax (VAT), whose annual supplies of goods and services exceed SR40m ($10.7m), to submit their tax returns for July no later than August 31.
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Israel says it bombed Hezbollah arms depots in Lebanon’s Bekaa Valley
The Israeli military said on Wednesday that it bombed Hezbollah weapons storage facilities in Lebanon's Bekaa Valley overnight, its latest strike on arms depots in a major stronghold of the powerful Iranian-backed militia. The air attack came hours after Israeli Defence Minister Yoav Gallant said that "attacking munitions warehouses in Lebanon is preparation for anything that might happen". Hezbollah said it had retaliated for the strike on the Bekaa region by firing Katyusha rockets at an Israeli military logistics site in the Israeli-occupied Golan Heights.
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Blinken wraps up Mideast trip with Gaza deal still elusive
U.S. Secretary of State Antony Blinken sought during a whirlwind trip to the Middle East to inject urgency into efforts to broker a Gaza ceasefire deal, but departed the region on Tuesday with an agreement between Israel and Hamas still elusive. Blinken and mediators from Egypt and Qatar have pinned their hopes on a U.S. "bridging proposal" aimed at narrowing the gaps between the two sides in the 10-month-old war, after negotiations last week paused without a breakthrough.
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What has happened to Saudi Pro League’s big spending?
"It has been a relatively quiet summer across global football," Simon Chadwick, professor of sport and geopolitical economy at Skema Business School in Paris, told BBC Sport. Chadwick attributes it to "a combination of harsh economic conditions, the late finishing of continental national team tournaments, and clubs across various territories trying to navigate local financial regulations".
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Saudi’s Bahri and Marinakis’ Capital Maritime sign mega VLCC deal
The National Shipping Company of Saudi Arabia (Bahri) announced today it has finalised a purchase agreement with Evangelos Marinakis-backed Capital Maritime and Trading, to acquire nine very large crude carriers (VLCCs) for a total of US$1Bn. Most of the VLCCs were built in South Korea and have an average age of 5.9 years. These vessels are fitted with scrubbers and equipped with advanced energy efficiency and low-emissions technologies to minimise environmental impact. Each VLCC has an average deadweight tonnage of approximately 311,500.
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Saudi Arabia’s literary renaissance captivates local and international audiences
“Saudi literature has witnessed significant acceleration over the past decade, particularly during the period when culture and its literary derivatives became one of the key objectives of Vision 2030,” said Ibraheem Al-Sinan, head of editorial at Raff Publishing. He added: “This newfound openness to knowledge and literature, spurred by various initiatives, competitions and activities, has enabled young people to make significant leaps in literary production. What once took decades to learn, the youth now accomplish in just a few years.”
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S&P Global Ratings discusses Saudi-China ties and renminbi-based oil trade – Video
Charles Chang of S&P Global Ratings outlines the factors to keep in mind.
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Iranian Politics and Strategy Complicate Response to Hanyiyeh Killing
Since the July 31 assassination of Hamas’ top leader in Tehran, an operation by all accounts conducted by Israeli intelligence, Iran has vowed to conduct a major retaliatory attack on Israel, presumably including a large missile and armed drone barrage similar to the attack by Iran on April 13. Iran’s closest regional ally, Lebanese Hezbollah, has similarly pledged retaliation for the nearly simultaneous Israeli airstrike on Beirut that killed Fuad Shukr, a senior commander of the organization’s military wing. Global experts always expected Iran and Hezbollah to carefully calibrate their retaliatory actions to avoid sparking a regional war, particularly involving clashes with the U.S. military.
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Saudi EXIM Doubles Credit Facilities in First Half of 2024
The Saudi Export-Import Bank (Saudi EXIM) has announced a significant surge in credit facilities provided during the first half of 2024. The bank extended SAR16.31 billion in financing and insurance, marking a 128% increase compared to the same period last year.
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Google Cloud expands services in Saudi Arabia, delivering enhanced data sovereignty and AI capabilities
Building on the launch of the Google Cloud region in the Kingdom of Saudi Arabia (KSA) in November 2023, we are excited to announce new data sovereignty, security, and AI capabilities for the Dammam region. These new offerings can help support the digital transformation journeys of organizations operating in Saudi Arabia that need to meet certain regulatory requirements, including multinational enterprises operating in the Kingdom.
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