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Shrugging off Omicron Threat, Oil Rallies Near $80 on Brent
- December 28,2021
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- SUSTG Team
Oil prices extended gains on Tuesday December 28th, with Brent crude trading near $80 a barrel despite the rapid, worldwide spread of the Omicron coronavirus variant. WTI also continued a months-long rally, rising to $76.28. U.S. crude oil prices hit a high of $86.40 per barrel in October this year.
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A Special Holiday Edition of The 966: Extended ‘Yallah’ Conversation Covering 10 Top Storylines in Saudi Arabia This Week
- December 24,2021
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- SUSTG Team
The 966 kicks off the holiday season with a special edition of the weekly format. The hosts discuss airport takeovers, Soundstorm, The PGA’s standoff with a new Saudi-backed challenger league, the Jeddah Central project, Omicron in Saudi, and more.
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‘Best Places to Work’ Names Top 7 Saudi Companies in 2021
- December 21,2021
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- SUSTG Team
Novo Nordisk Saudi, Manga Productions, Foodics, Tamkeen Technologies, Roshn, International Maritime Industries and Saudi Arabian Packaging Industry are recognized as the top 7 best places to work in Saudi Arabia for 2021, according to the annual “Best Places to Work” certification program.
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Saudi Arabia’s 2022 Fiscal Budget Report Released, with First Surplus in Nearly a Decade Seen for 2022
- December 13,2021
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- SUSTG Team
Saudi Arabia released its budget for the 2022 fiscal year following the endorsement by the Council of Ministers on December 12th, with a few changes from the preliminary budget released earlier in September this year. As expected, Saudi Arabia is expected to register its first fiscal surplus since 2013.
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The 966 Podcast Interviews Fahad Nazer, Saudi Arabia’s Top Spokesperson for the Saudi Embassy in Washington
- December 7,2021
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- SUSTG Team
The 966 features an exclusive, two-part interview with Fahad Nazer, spokesperson for the Saudi embassy in Washington. In part one of the interview, the hosts ask Mr. Nazer about a wide range of mostly domestic and economic issues, including Saudi Arabia’s energy plans, the Kingdom’s relationship with the U.S. Congress (and the Biden administration), the […]
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Saudi Arabia Detects First Omicron Variant, Launches Health Probe
- December 2,2021
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- SUSTG Team
Saudi Arabia has reported the country’s first positive case of the omicron COVID-19 variant, and has launched a “epidemiological investigation,” according to reports.
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All Eyes on OPEC+ Meeting Thursday with Omicron Variant Looming Over Demand
- December 1,2021
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- SUSTG Team
The OPEC+ group of oil-producing nations is set to meet Thursday December 2nd to decide whether to stick with their plan to increase monthly oil output by 400,000 barrels a day in January, according to reports.
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Saudi Arabia to Invest $64 Billion in Entertainment Sector – Report
- November 8,2021
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- SUSTG Team
Saudi Arabia said it will invest $64 billion in its entertainment industry as part of its ongoing efforts to diversify its economy, according to reports.
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Saudi Arabia Seeks to Host World’s Fair in 2030
- November 1,2021
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- SUSTG Team
Saudi Arabia intends to submit a bid to host the Expo 2030 world fair, Saudi Crown Prince Mohammed bin Salman said on Friday, as the Kingdom continues to open itself up to the world and diversify its economy.
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Future Investment Initiative (FII) Kicks Off 5th Annual Summit with Focus on Climate, Humanity, Energy
- October 26,2021
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- SUSTG Team
The first day of the Future Investment Initiative (FII) conference kicked off this morning in Riyadh with a focus on investing in humanity, sustainability, and impactful investing. The FII comes just a day after the Saudi Green Initiative and Middle East Green Initiative Launch Events that concluded yesterday in the Saudi capital.
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MUST-READS
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Parsons Awarded over $160 million Contracts in Saudi Arabia
The Projects including a confidential $41 million contract for technical consulting, $60 million of additional scope on existing contracts, approximately $30 million of new work for a resort and marina and new work supporting a Saudi developer.
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Commentary: Is a Defense Treaty With Saudi Arabia Worth the Commitments?
In the latest from the Pivotal States series, which examines alternative U.S. foreign policy approaches to the world’s key nations, American Statecraft Program Director Christopher S. Chivvis discussed the future of the U.S.-Saudi Arabia relationship with Kim Ghattas, a contributing editor at Financial Times; Aaron David Miller, American Statecraft senior fellow; and Ambassador Dennis Ross, distinguished fellow at the Washington Institute for Near East Policy.
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Groundbreaking Saudi-Turkish Road Comedy ‘My Treat’ to Be Produced by Front Row Productions, Alamiya Filmed Entertainment
Dubai-based Front Row Productions and new Saudi production company Alamiya Filmed Entertainment have teamed on “My Treat” (“Mahmool Makfool”), a Saudi-Turkish road-trip comedy about the misadventures of three young Saudi women who are big fans of Turkish soaps.
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Saudi Arabia reveals all 15 stadiums for the 2034 World Cup
Revealed as part of its official bid submission to FIFA, the 15 stadiums will be based in and around four cities – Riyadh, Jeddah, Al Khobar and Abha, as well as the under-construction The Line. In total 11 new stadiums are planned for the World Cup, with three currently under construction. The country's two current largest stadiums will be renovated, while two further existing stadiums will be temporarily expanded during the tournament.
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Saudi wealth fund signs $50 bln of deals with Chinese financial firms
Saudi Arabia's sovereign wealth fund PIF has signed six memorandums of understanding (MoUs) worth a total of $50 billion with leading Chinese financial institutions, the fund said in a statement on Thursday. The MoUs were signed with Agricultural Bank of China (ABC), Bank of China (BoC), China Construction Bank (CCB), China Export and Credit Insurance Corporation (SINOSURE), Export-Import Bank of China (CEXIM), and the Industrial and Commercial Bank of China (ICBC), the statement added.
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Top Saudi Chemical Firm Beats Profit Estimate in Sign of Rebound
The results will provide some relief for an industry that’s struggled with demand concerns in recent quarters. Global behemoth BASF SE reported lower second-quarter earnings while specialty-chemicals maker Lanxess AG flagged improvements but cautioned that it doesn’t see a broader market recovery yet. Sabic had itself earlier this year warned about “considerable uncertainty.”
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Saudi Arabia’s flynas flies over 7 million passengers in H1 2024
Saudi Arabia-based low-cost carrier flynas welcomed more than seven million passengers on board its flights in the first half of 2024, a 47 percent growth. The airline also reported a 37 percent increase in seat capacity for domestic and international flights during the period, compared with the same period of 2023, days after announcing the landmark purchase of 160 Airbus aircraft.
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Back-to-Back Assassinations in Middle East Scramble Biden’s Hopes for Peace
But Mr. Biden’s team vowed on Wednesday not to give up. U.S. officials spent the day reaching out to officials in Israel, Lebanon, Iraq, Qatar, Egypt, Jordan and Saudi Arabia in hopes of keeping the spiral of violence from escalating beyond limited strikes and salvaging a possible cease-fire deal after the dust settles. A team of American negotiators pursuing a cease-fire just left Rome, and another team was heading to Cairo from Saudi Arabia to continue the effort.
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Bomb Smuggled Into Tehran Guesthouse Months Ago Killed Hamas Leader
The bomb had been hidden approximately two months ago in the guesthouse, according to five of the Middle Eastern officials. The guesthouse is run and protected by the Islamic Revolutionary Guards Corps and is part of a large compound, known as Neshat, in an upscale neighborhood of northern Tehran.
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Khalid Sheikh Mohammed, accused as the main plotter of 9/11, agrees to plead guilty
After spending almost two decades in the U.S. military prison at Guantánamo Bay, Cuba, the alleged mastermind of the 9/11 terror attacks, Khalid Shaikh Mohammed, and two of his accomplices have agreed to plead guilty in exchange for sentences of up to life in prison rather than face a death-penalty trial.
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