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Recent stories from sustg

  • Saudi best in MidEast for doing business
     

    Saudi Arabia is the best country in the Middle East for doing business, according to a new study published by the World Bank. The Gulf kingdom, the world’s largest oil producer, was ranked 22nd globally in the ‘Doing Business 2013’ report, ahead of neighbour the UAE which placed 26th. Elsewhere in the GCC, Qatar came […]

     
  • The Saudi Economy: Still Shining
     

    A recently released October 2012 economic report by Jadwa Investment finds that a recent flow of data has been generally stronger than expected, and as a result of high oil production (which elevates the hydrocarbon sector growth to 6.1 percent for the year) Jadwa raises its projections for Saudi Arabia’s budget and current account surpluses. […]

     
  • Energy policy: What we need to talk about
     

    For starters, the United States is already over 80 percent (up from 70 percent a decade ago) self sufficient when it comes to energy production and use. We are routinely described as the Saudi Arabia of coal, and have the largest nuclear fleet in the world. We are the world’s largest natural gas producer and […]

     
  • Randa Hudome: How do I get my business over to the Middle East?
     

    In addition to featured speakers such as President Bill Clinton and Mr. Abdullah Alireza the recent C3 Summit in New York City presented a number of compelling panel discussions addressing commercial and trade issues related to doing business in the MENA region.

     
  • Saudi oil sales to U.S. robust despite refinery upsets
     

    Saudi Arabia appears to be keeping its pledge to ensure global markets are well supplied with oil, barely letting up in shipments to the United States even after two of its biggest refining customers suffered crippling glitches. A Reuters analysis of U.S. import data shows sales to the world’s top oil consumer have dipped less […]

     
  • Public policy considerations in Saudi Arabia’s new Arbitration Law
     

    We see plenty of coverage these days of Saudi Arabia’s growing economy; and justifiably so.  Expansionary government spending, elevated oil prices, a strong banking system, a maturing private-sector, increasing diversification, growing foreign investment and other factors contribute to an exciting period for Saudi Arabia. While elevated oil prices have fueled Saudi Arabia’s impressive recent growth, […]

     
  • Dubai and Saudi Chambers seek stronger ties
     

    To share expertise and best practice across the GCC region, Dubai Chamber of Commerce and Industry hosted a delegation led by the Council of Saudi Chambers at its head office recently. The group of 17 senior officials from various Saudi chambers of commerce, led by Omar A. Bahlaiwa, Secretary General of the Council of Saudi […]

     
  • Saudi market opening to take ‘a while’ as conditions debated
     

    Saudi Arabia — the largest, most liquid and yet least accessible stock market in the Arab world — is considering opening its stock market to foreign investors in a move that could help turn the local market into a regional trading hub. But when the kingdom will make its final decision on this proposal, which […]

     
  • Jadwa Investment: Shifts in Foreign Investor Flows and the TASI
     

    A recently released Jadwa Investment report discusses shifts in foreign investment in the Saudi stock market, also known as the TASI. “Big changes in foreign investment in the Saudi stock market tend to come ahead of moves in the TASI, meaning that local investors can benefit from tracking what foreign investors are doing. In six of the seven […]

     
  • High capital/solid profitability: Saudi banking system remains stable
     

    The outlook for Saudi Arabia’s banking system remains stable, says Moody’s Investors Service in a new Banking System Outlook. The key drivers of the outlook are (1) a benign operating environment; (2) low problem loan levels; (3) strong loss-absorption capacity, underpinned by high capital buffers and solid profitability; and (4) the sector’s stable, low-cost deposit […]

     

MUST-READS

  • Saudi Arabia warns against misuse of Umrah visas for employment purposes

    The Ministry of Hajj and Umrah warned against the misuse of Umrah visas for purposes other than pilgrimage.
    Emphasizing the importance of adhering to the regulations, the ministry clarified that Umrah visas should not be utilised for work-related activities.

  • Is the EU the North Star for Circular Economy Push in Saudi Arabia?

    The European Union's (EU) circular economy (CE) framework is an exemplar of comprehensive and strategic environmental governance. This framework is meticulously designed to encompass robust legislation, set ambitious sustainability targets, and deploy diverse initiatives across sectors, which can serve as a powerful model for nations like Saudi Arabia aiming to enhance their own circular economy policies.

  • Saudi Crown Prince discusses regional stability with Iraqi prime minister

    Saudi Arabia’s Crown Prince Mohammed bin Salman, received a phone call from the Prime Minister of Iraq Mohammed Shia Al-Sudani, discussing recent military escalations in the region and their implications on security and stability, Saudi Press Agency (SPA) reported on Sunday.

    The call came following Iran’s strike on Israel that caused tension worldwide.

  • Commentary: GCC-EU ties are improving, but obstacles remain

    Europe has underlined its determination to play a stronger role in regional security by contributing to the deescalation of tensions in the wider Middle East, among other things. An example of this was the participation of 19 EU member states in the recent Aspides naval operation to help safeguard shipping in the Red Sea.

  • GCC consulting market set to cross $6bn this year, shows report

    In a landscape where economic growth has waned in major global hubs with reports of top consulting firms laying off staff globally, the consulting market in the Gulf Cooperation Council (GCC) region is bucking the trend. According to the latest report by Source Global Research, the GCC consulting market witnessed 13.2 per cent growth in 2023, surpassing the $5bn mark for the first time.

  • U.S. urges restraint as Israel braces for possible Iran retaliation

    The United States assesses that we are in a window where an Iranian response to an April 1st Israeli strike that killed seven IRGC officials at an Iranian facility in Damascus, Syria, could happen possibly anytime between now to next week. The United States has been talking to several countries that have a relationship with Iran asking them to send Iran a message urging restraint, and also speaking with the Israelis urging them not to overreact.

  • Golan Heights ‘prime target’ as Israel warns Iran against attack

    Iran’s warning that Israel faces “punishment” over its suspected killing of senior Iranian commanders in Syria has triggered a clear Israeli response: any operation launched from Iran will be met with action inside Iran. Meanwhile, US President Joe Biden has reiterated his “ironclad” support for Israel as Washington is reportedly pushing Arab states to urge Iran to de-escalate tensions.

  • Green oasis emerges in the Saudi desert after heavy rains.

    Parts of Saudi Arabia’s vast desert landscape near the holy cities of Mecca and Medina have undergone a remarkable transformation following the recent heavy rains. The once barren and parched terrain has burst into vibrant shades of green, as an abundance of water has breathed new life into the arid landscape.

  • Take a closer look at the plans for the main regions of Neom, Saudi’s epic megacity project

    Saudi wants its Vision 2030 projects to boost residency, provide better opportunities, and help the nation diversify beyond fossil fuels — but it remains to be seen whether expectations will match up with reality.

  • Miss Universe organization disputes reports of Saudi Arabia’s participation in 2024 pageant

    The Miss Universe Organization is disputing a flurry of what it calls “false and misleading” reports of Saudi Arabia’s participation in its 2024 pageant — news that, were it true, would have marked the Middle Eastern country’s debut. “No selection process has been conducted in Saudi Arabia, and any such claims are false and misleading,” the pageant said in a statement provided to CNN and released on its official website.