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Major Leap for Saudi Economy as Kingdom Set to Introduce Bankruptcy Laws
- February 19,2018
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- SUSTG Team
Saudi Arabia’s cabinet has approved a bankruptcy law that is likely to be a boost to the Kingdom’s efforts to attract investment and provide protection for entrepreneurs, according to reports. King Salman has reportedly endorsed the new law. As Reuters reports, modern bankruptcy legislation does not currently exist in Saudi Arabia, which creates difficulties for struggling companies seeking to restructure […]
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Development on Jeddah Tower and Surrounding Economic City Moves Forward After Alwaleed’s Release
- February 9,2018
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- SUSTG Team
Construction of what is planned to be the world’s tallest skyscraper in Jeddah is going ahead following the release of Saudi Arabia’s Prince Alwaleed bin Talal, the head of the consortium behind the $1.5 billion project said. Mounib Hammoud, chief executive of Jeddah Economic Co (JEC), said in an interview that the project will ideally be completed […]
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Saudi Economy to See 1.5% Growth in 2018, Jadwa Says
- February 5,2018
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- SUSTG Team
The Saudi Arabian economy will grow by an estimated 1.5 percent in 2018, up from a contraction in 2017 of -0.7 percent, according to a new report from Riyadh-based economic analysts at Jadwa Investment. “The oil sector will see the largest improvement in the year ahead, rising to 1.5 percent in 2018, compared to a decline […]
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Saudi Crown Prince Mohammed bin Salman will Visit Washington, Other U.S. Cities in Early March
- February 2,2018
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- SUSTG Team
The Royal Embassy of Saudi Arabia in Washington is working to organize a visit by crown prince Mohammed bin Salman to the United States in early March, the first trip to the U.S. since he became crown prince last year, according to reports. Rumors of a forthcoming visit by the powerful crown prince have surfaced in […]
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At Davos, Saudi Leaders Discuss Energy, Foreign Policy on World Stage
- January 23,2018
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- SUSTG Team
Saudi government leaders arrived to Davos, Switzerland for the annual World Economic Forum to meet with other world leaders and discuss key foreign policy and energy challenges facing the Kingdom. The 48th Annual Meeting in Davos will host 3,000 participants across all stakeholder groups including public & private sectors, civil society, academia, media, and arts & culture. The Saudi delegation is led […]
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Report: Saudi Government, SBG in Talks for State Takeover of Troubled Construction Giant
- January 12,2018
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- SUSTG Team
Saudi Arabia is taking managerial control of Saudi Binladin Group (SBG) and discussing a possible transfer of some of the giant construction group’s assets to the state while its chairman and other family members are in detention, Reuters reports today citing sources. Binladin is the biggest builder in the country and important to Saudi Arabia’s plans for […]
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Saudi Aramco, Partners Launch Offshore Focused Shipyard at Ras Al-Khair Industrial City
- January 3,2018
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- SUSTG Team
Saudi Aramco and partners announced a joint venture to build a shipyard on the kingdom’s east coast, part of the Saudi Arabian government’s drive to diversify the economy beyond oil. Along with UAE-based Lamprell, the National Shipping Company of Saudi Arabia (Bahri), and South Korea-based Hyundai Heavy Industries, Saudi Aramco says the shipyard will be focused on […]
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Omar Bahlaiwa Honored at Johns Hopkins Forum Alongside U.S. Congress Leaders
- December 8,2017
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- SUSTG Team
Omar Bahlaiwa, Saudi businessman, member of the board of directors of the Saudi-US Trade Group (SUSTG), member of the Saudi Committee for International Trade (CIT) and previously Secretary General of CIT as well as acting Secretary General for the Council of Saudi Chambers of Commerce was honored at the Annual Transatlantic Economic Forum held at the Johns […]
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Trump Administration, Saudi Government at Odds over Yemen Blockade, Jerusalem Decision
- December 7,2017
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- SUSTG Team
In an unusual public demand of Saudi Arabia, President Trump has called on Saudi leaders to ease the blockade of Yemen to allow for humanitarian aid to assist the war-torn and decimated country. “I have directed officials in my administration to call the leadership of the Kingdom of Saudi Arabia to request that they completely […]
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Energy Secretary Rick Perry Meets with Top Saudi Leaders; Photos from Visit Go Viral
- December 6,2017
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- SUSTG Team
U.S. Secretary of Energy Rick Perry visited Saudi Arabia over the weekend as part of a tour of three Gulf states, his first trip to the region since becoming the top U.S. energy official. Secretary Perry’s tour of Saudi Arabia was packed with events and visits with key Saudi officials as well as energy institutions in the […]
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Yemen in CrisisYemen militia leader says holding indirect talks with Saudi Arabia
Yemen's Houthi militia leader said on Sunday the group was engaged in indirect talks with neighbour Saudi Arabia, Yemeni state news agency Saba reported.
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Yemen: HouthisYemen’s Houthis hold exercises near Saudi border
Thousands of Shi'ite Muslim Houthi fighters, who control much of Yemen, held military exercises near the border with top oil exporter and Sunni power Saudi Arabia on Thursday, a Houthi commander said, adding to fears Yemen's chaos could deepen. The rise to power of the Iran-backed Houthis since September has deepened divisions in Yemen's already complex web of political and religious allegiances, and left it increasingly cut off from the world.
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YemenSaudi Arabia to host Riyadh talks on Yemen crisis
Saudi Arabia said on Monday the Gulf Cooperation Council (GCC) had agreed to host talks in Riyadh to end the Yemen crisis, the state news agency SPA said, quoting a statement by the Saudi King's office, according to Reuters news agency.
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YemenYemen’s defense minister escapes Houthi-controlled Sanaa
Yemen's defense minister has fled Houthi-controlled Sanaa for Aden, officials said on Sunday, in a move expected to bolster President Abd-Rabbu Mansour Hadi in his power struggle with the Shi'ite Muslim group.
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Yemen in CrisisSaudi Arabia says talks to end Yemen crisis to be held in Riyadh
Saudi Arabia said on Monday the Gulf Cooperation Council had agreed to host talks in Riyadh to end the Yemen crisis, the state news agency SPA said, quoting a statement by the Saudi King's office.
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YemenAnalysis: A Passing Generation of Yemeni Politics
The nationalist union founded by members of the Famous Forty and defended by the ?rst generation of foreign-educated Yemeni modernists has suffered greatly with the passage of time and is unlikely to recover the promise of its past.
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U.S. - YemenU.S. envoy to Yemen to operate out of Saudi Arabia
The United States will not move its embassy to Aden, as some Persian Gulf countries have done, to avoid any suggestion that Washington accepts a de facto division of Yemen, a senior State Department official said Tuesday.
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YemenYemen’s leader suggests Riyadh for dialogue with rebels
Hadi called for the relocation of embassies to Aden, as several GCC members have done already. U.S. ambassador to Yemen Matthew Tueller met with Hadi in Aden on Monday and said Hadi remained the "legitimate" leader of Yemen. The British ambassador made a similar visit Tuesday.
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Saudi Diplomatic HostageSaudi Diplomat Taken by Al-Qaida in Yemen Free After 3 Years
A Saudi diplomat abducted by suspected al-Qaida militants in Yemen has been freed after nearly three years in captivity and has returned home to Riyadh, the kingdom said Monday.
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YemenFor Yemen’s Arab Spring activists, hope plummets as chaos deepens
Scores of activists have chosen to emigrate rather than struggle for dwindling opportunities in a country of about 25 million that is wrestling with nearly 50 percent unemployment and grinding poverty.
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