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Recent stories from sustg

  • Video Remarks: President Obama Hosts Iftar Dinner at the White House
     

    President Obama hosted an Iftar dinner Monday night to mark Ramadan, and invited guests to break their fast at the White House. The Iftar is the evening meal after sunset that concludes the daily fasting during the month of Ramadan. The dinner was President Obama’s 7th Iftar celebration at the White House, and the President used […]

     
  • Saudia’s ‘Largest aircraft leasing deal in history’ to include 50 Airbus planes
     

    According to a press release, Saudia is set to lease 50 Airbus planes as the national carrier of Saudi Arabia expands its fleet, including 30 Airbus aircraft of A320-200 model and 20 aircraft of A330-300 model. In a statement last week, Airbus confirmed that Saudia will become the first airline in the world to operate the new Airbus […]

     
  • Saudi Non-Oil Exports Drop, Imports Grow in 1Q 2015
     

    Latest figures released by Saudi Arabia’s Central Department of Statistics show Saudi nonoil exports dropped by 14.5 percent, to $12.5 billion in the first quarter of 2015 compared to 1Q 2014. Meanwhile, Saudi imports are up by 6.88% in the first quarter of this year, to $43 billion.  Plastic and rubber products topped the Kingdom’s list […]

     
  • Large Jump in May Oil Shipments to China Moves Russia Past Saudi Arabia
     

    Russia has leaped ahead of Saudi Arabia as the top oil supplier to China, according to Bloomberg, as the race to supply the world’s second-largest oil consumer heats up.  Bloomberg: “China imported a record 3.92 million metric tons from its northern neighbor in May, according to data emailed by the Beijing-based General Administration of Customs on Tuesday. […]

     
  • A Saudi-Russia Thaw?
     

    Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman visited Russia today amid growing evidence of a thaw in Saudi-Russian relations. With the headline of “Saudi Arabia and Russia to cement ties,” the English language daily Arab News reports that Deputy Crown Prince Mohammed bin Salman “will seek to cement economic, cultural, political and trade relations […]

     
  • U.S. Chamber of Commerce, Saudi Committee for International Trade and SUSTG Host Shura Delegation in Washington
     

    Members of Saudi Arabia’s Shura Council visited Washington, D.C. last week for meetings.  The delegates represented the Saudi-U.S. Parliamentary Friendship Committee of the Majlis Al-Shura which makes regular visits to the United States in support of the U.S.-Saudi relationship. The Shura delegates and invited guests were hosted at the U.S. Chamber of Commerce for a […]

     
  • Video: CEO of Saudi Stock Exchange Adel Saleh Al-Ghamdi Speaks with CNBC as Saudi Bourse Opens
     

    Saudi Arabia’s $585 billion stock market – the largest in the region – opened to wider foreign investment today in Riyadh.  The CEO of Saudi Arabia’s Stock Exchange, Adel Saleh Al-Ghamdi gave an interview to CNBC on the opening of the market and the implications for the Kingdom of Saudi Arabia’s economy.  “The reason is not really […]

     
  • U.S. Chamber of Commerce, Saudi Committee for International Trade to Host Private Roundtable Luncheon with Visiting Shura Council Members in Washington
     

    This week, members of Saudi Arabia’s Shura Council will attend a private roundtable luncheon at the Washington Headquarters of the U.S. Chamber of Commerce as part of the delegation’s outreach to the U.S. business community. Organized by the U.S. Chamber of Commerce, the Committee for International Trade (CIT) of the Council of Saudi Chambers, and […]

     
  • IHS Jane’s: Saudi Spending on Military to Increase by 27% over 5 Years
     

    Defense consultancy IHS Jane’s says Saudi defense spending will be $48.7bn in 2015, a 2 per cent contraction over last year but will reach $62bn by 2020. Craig Caffrey, IHS principal defence budget analyst, said “We certainly expect a significant slowdown in the short term but longer term prospects remain strong,” The Financial Times (paywall)  reports. “ “The Kingdom has […]

     
  • The Open Air Art of Jeddah, Saudi Arabia
     

    The British newspaper The Guardian profiles a new book that examines the open-air artworks created by world-famous artists in the 1970s in Jeddah, Saudi Arabia, and the city’s recent push to restore and feature them. “From Joan Miró to Jean Arp and Henry Moore, the Saudi city was a magnet for big names in art […]

     

MUST-READS

  • Kemitt expands into Saudi Arabia bolstered by new funding round

    Kemitt, Egypt's leading e-commerce marketplace for furniture and home accessories, proudly announces its expansion into the Saudi Arabian market. This strategic move is bolstered by a recent undisclosed funding round, underscoring the growing investor confidence in Kemitt’s innovative business model and robust growth trajectory.

  • Saudi Arabia’s growth this year marred by lower for longer oil output

    Saudi Arabia's economic growth will likely be one of the slowest among the Gulf Cooperation Council (GCC) countries this year, according to a Reuters poll of economists who lowered growth forecasts from three months ago due to extended oil output cuts. The Organization of the Petroleum Exporting Countries and allies led by Russia, known as OPEC+, were expected to start raising production this year but in June said the reductions would continue well into 2025.

  • Saudi government agencies boost emerging tech adoption by 10% in 2024

    Saudi Arabia’s government and businesses are advancing technology adoption and investing in programs to digitally upskill the population. A new report by the Digital Government Authority revealed that the performance index of Saudi government agencies in Emerging Technologies Adoption has improved significantly by 10% compared to last year, rising from 60.3% in 2023 to 70.7% in 2024.

  • New Saudi AI model to advance radiology diagnosis

    King Abdullah University of Science and Technology (KAUST) and Saudi Data and Artificial Intelligence Authority (SDAIA) have released MiniGPT-Med, a new vision-interfaced large language model, designed to provide faster and more efficient radiology diagnosis. The new model was built using Meta’s Llama 2 for the language component and the university’s MiniGPT-v2 as a vision-language alignment backbone.

  • GCC Population Surges by 4 Million in Two Years

    According to recent statistics released by the GCC Statistical Centre, the total population of the Gulf Cooperation Council (GCC) countries witnessed a significant increase of 7.3% in 2023 compared to 2021, reaching 57.6 million.

  • ‘A Rubik’s Cube in the Sky’: Israel Struggles to Defend Against Drones

    On Friday, Israel’s vaunted aerial-defense system tracked 65 rockets fired across its northern border by the Lebanese militant group Hezbollah, intercepting some and letting the rest fall harmlessly into open areas.  That same day, Israel missed a single drone it believes flew more than 1,000 miles from Yemen to explode in the commercial capital Tel Aviv.

  • Gamers are competing for a record-breaking $60m prize pool at the Esports World Cup

    The Esports World Cup is underway in Riyadh, Saudi Arabia, with thousands of participants from all corners of the globe competing across 21 games like Call of Duty, League of Legends and Dota 2. CNN’s Eleni Giokos speaks to some of the athletes vying for glory and a life-changing $60 million prize pool.

  • Three Saudi companies acquire fund behind world’s tallest tower

    The Saudi Arabian fund behind what will be the tallest tower in the world has been acquired in a $1.8 billion (SAR6.8 billion) deal. Kingdom Holding Company, Sumuo Holding Company and Jeddah Economic Company (JEC) have signed an agreement to take ownership of the Al Inma Jeddah Economic Fund, which is currently wholly owned by JEC. The fund’s Jeddah Tower will be more than 1,000m high. The surrounding development, located in the Obhur district in the north of the city, will measure an estimated 1.7 million square metres.

  • Heat Waves Are Pounding Egypt, and Often There’s No A.C.

    Egyptian summers have always been hot. But it has not always been this hot, with temperatures barely dipping below 100 degrees in Cairo since May, testing tempers and massacring houseplants. And it has never been this hot at a time when the government has imposed power cuts on most of the country for more than a year, plunging millions into sweaty, un-air-conditioned misery for hours each day.

  • Saudi Arabia Discusses Enhancing Industry, Mining Cooperation with Türkiye

    Deputy Minister of Industry and Mineral Resources for Industry Affairs Khalil Ibrahim Ibn Salamah discussed enhancing cooperation between Saudi Arabia and Türkiye in the industrial and mining sectors. During his official visit to Türkiye alongside several officials from the Saudi private sector, the deputy minister discussed promising investment prospects in both countries and the joint development of their industrial capacities. The visit is part of the efforts of the Kingdom’s industrial and mineral resources system to develop industrial partnerships with Türkiye.