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Recent stories from sustg
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‘Oil Kingdom’: Saudi Economy Expert Says Shale is the New ‘Peak Oil’ and that Saudi Arabia Still Rules Energy Markets
Saudi Economy expert John Sfakianakis, formerly with Banque Saudi Fransi and now Chief Investment Strategist for MASIC, pens an analysis in Foreign Policy about how Saudi Arabia’s oil production will outlast the shale craze in the United States:
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$7 Billion Deal Inked Between U.S.-Based Fertilizer Giant Mosaic Company and Ma’aden, SABIC
U.S.-based fertilizer giant Mosaic Company signed a $7 billion contract with Saudi Arabia Basic Industries (SABIC) and the Saudi Arabian Mining Company (Ma’aden) for a 3.5 million ton phosphate operation in the Kingdom, according to a press release issued today. “The estimated $7 billion greenfield project, to be known as Wa’ad Al Shamal, or Northern Promise, Phosphate Project, […]
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PHOTOS: A New Look for the Grand Mosque in Mecca – Kabaa ‘Walkaround’ Completed
Construction on the new Kabaa “walkaround” is now complete, enabling increased capacity for visitors to the Grand Mosque in Mecca, Saudi Arabia. Photos of the new construction were published on the Instagram handle of Arab News, which show a double-decker structure that appears to dramatically increase the amount of space for pilgrims to circle the holy […]
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Saudi Arabia is the Arab World’s Most Competitive Mobile Market, Group Says in Study
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Is This Man the Saudi Jon Stewart?
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An7a.com Releases List of Most Influential Saudis on Twitter
The Arabic website An7a.com released a list of the most influential Saudis on Twitter. The website ranks Saudi Arabia’s most popular users based on number of followers and other measurements like Klout, which measures a user’s influence and following on social networking sites. Saudi comedian Fahad Albutairi (@fahad) tops the list. Prominent Saudi commentator and […]
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U.S.-Saudi Business Opportunities Forum Website, Registration Launched by Organizers
Organizers of the upcoming U.S.-Saudi Business Opportunities Forum announced today a new website and live registration to the upcoming conference taking place September 16-18 in Los Angeles, California. The Saudi-US Trade Group (SUSTG) is pleased to be an organizer of the upcoming U.S.-Saudi Business Opportunities Forum to be held at the J.W. Marriott L.A. LIVE downtown. […]
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Foreign Worker Amnesty: Deadline Extended by Saudi King Abdullah to November 3
Saudi Arabia has given foreign workers until November 3rd to obtain legal status in the country “a day before a previous three-month amnesty expired, bringing respite to hundreds of thousands of expatriates who fear deportation,” News 24 and other outlets report. “Foreigners who do a different job to the one listed on their residence permit, […]
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Weekend Shift In Saudi Arabia ‘A Welcome Development’ Among Saudis
From SUSRIS, an excellent roundup of opinion and analysis on Saudi Arabia’s recent weekend shift and the implications for business and aspects of Saudi Arabia’s society. “There’s hardly anyone who likes to wait for the weekend to get here quickly but in the case of Saudi Arabia many have been waiting for years to see […]
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Marriott Worldwide, Saudia Announce Partnership To Offer More Reward Options for Regional Travelers
Marriott Rewards members traveling throughout the Middle East can now earn ‘Saudia’ Airlines – Alfursan Miles for stays at more than 3,700 Marriott International hotels in 70 countries across 14 distinctive brands, according to a press release. Additionally, Marriott points can also be redeemed for Alfursan Miles. The new program takes immediate effect for travelers.
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MUST-READS
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Saudi Arabia Taps Bond Market With $5 Billion Sukuk Deal
The kingdom sold the bonds through notes maturing in three, six and 10 years, according to a person familiar with the matter, who asked not to be identified. The deal was priced at yields of 60 basis points more than comparable US Treasuries for the shortest tranche and at 85 basis points for the longest tranche, the person said. That’s down from initial discussions for around 85 to 110 basis points.
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Saudi Exchange approves listing of $12.08bn in govt debt instruments
Saudi Arabia’s stock exchange has approved the listing of SR45.28 billion ($12.08 billion) worth of government debt instruments submitted by the Ministry of Finance.
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Opinion: Saudi Arabia Is Becoming One of Biden’s Most Important Swing States
The transformation overseen by Crown Prince Mohammed, often referred to simply as MbS, has led to substantial shifts in the kingdom's domestic outlook, which has embraced a more globalized character and a transition away from oil dependence, among other initiatives in line with the youngest-ever heir to the throne's ambitious Vision 2030 plan. It's also prompted a recalibration of foreign relations and the pursuit of more robust ties with other leading powers, including top U.S. rivals China and Russia.
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Franklin Templeton launches its debut campaign in Saudi Arabia
Franklin Templeton has announced the debut of its inaugural brand campaign in Saudi Arabia. Following the investment firm’s operational launch in Riyadh in March, the six-week advertising campaign highlights its long history, core values, and breadth of investment capabilities in Saudi Arabia.
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Elon Musk’s xAI raises $6bn from investors including Saudi Arabia’s Prince Alwaleed
Elon Musk's artificial intelligence start-up xAI has raised $6 billion in a series B funding round that includes participation from Saudi billionaire Prince Alwaleed bin Talal and his investment company Kingdom Holding, as it seeks to challenge rival OpenAI.
The round, which also saw investments from Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital and Fidelity Management & Research Company, will support the market launch of xAI's products, the company said on Monday.
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Israel ‘cannot exist’ without Palestinian state: Saudi FM
“I firmly believe that a two-state solution with the establishment of a credible Palestinian State serves … the interest of the Palestinians and delivers [on] their right to self-determination,” bin Farhan said on Sunday night, adding that Israel “doesn't get to decide whether or not the Palestinians have a right to self-determination.”
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MbS, MbZ meet in Saudi Arabia amid rumors of widening rift
Bader Al-Asaker, the head of the Saudi crown prince’s private office, on May 17 posted a photo on Twitter/X capturing a smiling Mohammed bin Salman Al Saud (MbS) together with Emirati President Sheikh Mohammed bin Zayed Al Nahyan (MbZ) at the Al-Aziziyah Palace.
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Saudi Work: Evolving narratives of advertising and marketing
The Ramadan campaign from Serviceplan Arabia and Abdul Latif Jameel Motors – Toyota takes a different approach to the Holy Month. Set in the corniche of Saudi-city Khobar, the ad takes a more comedic approach while maintaining the spirit of Ramadan and generosity.
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Rebranded Saudi studio launches with new talent initiative
Alamiya Filmed Entertainment (AFE), a Riyadh–based independent film studio, announced its official launch and plans following its acquisition of Lyra Pictures, last year. The film studio has established its operations across Riyadh, Dubai, and Los Angeles, under the leadership of Wesam Kattan and Bassma El Afghani, CEO and President of AFE.
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Ronaldo breaks Saudi League’s single-season scoring record
Al Nasr's Cristiano Ronaldo capped his first full Saudi Pro League season in style as he broke the record for the most goals scored in one campaign on Monday.The Portuguese 39-year-old scored a brace in his side's 4-2 win over Al Ittihad on the final matchday to bring his league tally this season to 35 goals.The previous record was held by former Al Nasr forward and Moroccan international Abderrazak Hamdallah, who scored 34 goals in 2018-19.
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