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New Labor Data from Saudi Government Shows Surge in Women in Workforce, High Expat Labor
- July 5,2017
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- SUSTG Team
More and more women are joining the workforce in Saudi Arabia, official data show, as the Kingdom looks to increase female participation in the workforce as part of its Vision 2030 economic and social reforms. From 215,000 in 2012, the number of women in the private sector jumped to 496,000 in 2016, an average of […]
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Reports Former Crown Prince Confined to Palace ‘Baseless’, Official Tells Reuters
- June 29,2017
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- SUSTG Team
A senior Saudi official on Thursday denied as “baseless” a New York Times report that Prince Mohammed bin Nayef has been confined to his palace in Jeddah and barred from traveling abroad, according to a Reuters report. The original report in the New York Times cited four current and former American officials and Saudis “close […]
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Crown Prince Mohammed’s Promotion, MSCI Announcement Jolts Saudi Stock Market to Big Gains
- June 22,2017
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- SUSTG Team
Saudi Arabia’s stock market soared for a second straight day following two big storylines that are giving investors confidence: the promotion of Prince Mohammed bin Salman to first-in-line to be King of Saudi Arabia, and news that the Kingdom may be considered for MSCI Emerging Market index inclusion as soon as 2019. The announcement of […]
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U.S. Senate Scrutinizes Precision-Guided Arms Package for Saudis
- June 8,2017
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- SUSTG Team
A proposed sale of $500 million worth of U.S. precision-guided missiles to Saudi Arabia is coming under growing scrutiny from Congress, according to reports, as a key vote looms in the U.S. senate today. Foreign Policy magazine reports that the planned sale of munitions would replenish the kingdom’s depleted stocks after two years of daily bombing […]
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President Trump, King Salman Speak Amid Qatar Diplomatic Fallout
- June 7,2017
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- SUSTG Team
U.S. President Donald Trump spoke by phone with Saudi Arabia’s King Salman amid a growing crisis between GCC states over allegations that Qatar is funding terrorism and extremist activities. Saudi Arabia, the UAE, Egypt and three other states have cut diplomatic ties with Qatar, threatening a socio-economic crisis for what Saudi Arabia’s leaders only recently […]
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Goldman Sachs Applies to Saudi CMA for Equities Trading License in Saudi Arabia
- June 2,2017
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- SUSTG Team
Goldman Sachs has applied to Saudi Arabia’s capital markets regulator for a license to trade equities in the kingdom, two sources familiar with the move said, in the latest step by Western banks to expand operations in the country, Reuters reports. The bank has been operating in Saudi Arabia since 2009 as an agent and underwriter, […]
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Flurry of Business Activity in Riyadh as SoftBank To Launch $100 billion Fund during President Trump’s Visit, One of Many Deals Slated for Busy Weekend
- May 19,2017
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- SUSTG Team
Japan’s richest man and Softbank CEO Masayoshi Son will travel to Saudi Arabia and announce the close of the first fundraising round for what will be the world’s biggest private equity fund, backed by Saudi Arabia’s sovereign wealth fund and Apple Inc., according to a Reuters report. The expected launch of the $100 billion Vision Fund […]
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New Saudi Arms Manufacturer ‘SAMI’ Launched As Part of Vision 2030 Ahead of Trump Visit
- May 18,2017
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) announced on Wednesday the launch of a national state company for arms manufacturing as part of its Vision 2030 economic and social reform program, according to reports. The new company, the Saudi Arabian Military Industries (SAMI), will be producing not just arms but armored vehicles and will work to repair […]
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Saudi Defense Ministry’s Ideological Warfare Center Combats ISIS’ False Narrative
- May 9,2017
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- SUSTG Team
Saudi Arabia has established an Ideological Warfare Center (IWC) to combat the narrative put forth by extremist groups like ISIS and Al-Qaeda, and to combat extremism at its ideological roots. The IWC is affiliated with the Saudi Ministry of Defense, run by Deputy Crown Prince Mohammed bin Salman, and officially aims to “confront the roots of extremism […]
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In Interview, Deputy Crown Prince Mohammed bin Salman Discusses Economic Reforms, Regional Challenges
- May 3,2017
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- SUSTG Team
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman gave a wide-ranging interview with Saudi TV station MBC yesterday, discussing regional politics, the war in Yemen, the economy, Vision 2030, and Saudi Aramco’s planned IPO. The interview – given in Arabic – was widely broadcasted in the Kingdom and discussed on social media sites. It was his […]
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MUST-READS
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U.S. Middle East PolicyPerspective: Are We Witnessing the Birth of a New Mideast Order?
“The World Has Changed,” trumpeted the front-page headline of the Iranian reformist daily Etemaad on July 15, the day after Iran signed a nuclear deal with the six world powers. But as U.S. President Barack Obama attempts to build on this agreement, he will find that changing the destructive dynamics of the Middle East is far more difficult than any negotiation in Vienna.
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Airline PilotsAre you ready to fly? Middle East needs 60,000 new pilots, says Boeing
The Middle East region will need 60,000 new pilots and 66,000 technicians in the same period, a total rate of about 6,300 each year, according to Boeing’s 2015 Pilot and Technician Outlook.
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Solar EnergyEnergy Revolution? OPEC Countries Become the Biggest Fans of Solar Energy
A project bid below $0.06 per kWh in Dubai earlier this year showed the potential solar energy has in the Middle East and with Saudi Arabia getting 55% of its electricity from oil, there's an economic driver to making a change.
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ConstructionAnalysis: Is the end of Saudi construction’s good days here?
“There has been a relaxation on foreign investment companies coming into the market, which is helping to attract more foreign investors and contractors to Saudi Arabia. What we’ve seen, especially for the mega projects that are underway, is a collaborative approach between local Saudi contractors and international names,” he tells Construction Week.
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Saudis AbroadCommentary: Where did these Saudis come from?
Where did these Saudis, whom you will find in every city, village, countryside, hotel, street, public park and resorts, come from? The latest statistics said about 4.5 million Saudi tourists travel outside every year spending more than $77 billion.
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China: Middle East PolicyFrom Nonintervention to What?: Analyzing the Change in China’s Middle East Policy
Though China still adheres to the principle of nonintervention, its unprecedented proactivity and break from its position to “pursue friendly, cooperative relations with all Middle Eastern countries” has already distinguished its behavior in this crisis from its traditional stance.
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ME EconomiesWant Investment Growth? Look to the Middle East
The population of the Middle East is steadily growing at a rate of 1.5% a year – it may not sound like much but it is the equivalent of adding a new Turkey or Egypt every 10 years. The population is young too – with an average age of around 25 years old and this young, growing middle class is creating investment opportunities. Add to this that oil reserves are some way off running out – and you can see why the region is attractive.
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TunisiaCan Tunisia Stop Terrorism With a Wall?
Tunisia can wall off its border with Libya, and that wall may or may not stop terrorists from crossing that border. But it doesn’t close off alternate routes into the country.
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Iran Nuclear Agreement: Saudi ArabiaWhere Does the Iran Deal Leave Saudi Arabia?
“The legitimacy of the government has changed, from the traditional religious legitimacy—which is still important—to now being based on providing society with security and services,” says Mark C. Thompson, assistant professor of Middle East Studies at King Fahd University of Petroleum & Minerals in Dhahran Saudi Arabia, who studies Saudi youth. “This is fundamental change.”
- NBC News - Middle East Arms Race Will Continue After Iran Nuke Deal: Experts
- VOA - Perspective: For the U.S., the Choice Between Saudi Arabia and Iran Should be an Easy One
- Bloomberg - Iran Deal Risks Clash With Saudis for Middle East Dominance
- Breitbart - World View: Arab Views of Iran Nuclear Deal
- Atlantic Council - The Middle East Transformed by Iran Agreement? Take a Deep Breath; Here’s Why Not
- Washington Post - Arab states fear nuclear deal will give Iran a bigger regional role
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Iran Nuclear Agreement: IsraelNetanyahu and the Iran nuclear deal: A historic mistake?
Given that the agreement was long in the making and expected, it’s hard to believe that Netanyahu’s reaction was not well rehearsed. Yet, it’s hard to understand what this posture can gain him strategically. What are Bibi’s options?
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