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Recent stories from sustg

  • Saudi eases access to long-hidden ancient ruins
     

    “Spectacular… wonderful… breathtaking,” she says. “But where are the tourists? If we had a site like this in my country, we would have millions of tourists!” Dating back to the second century BC, the Nabataean archaeological site, also known as Madain Saleh, has long been hidden from foreign visitors in this ultra-conservative kingdom that rarely […]

     
  • GE Sees Gas Turbine Sales Gain Amid Saudis’ Solar Shift
     

    General Electric Co. GE predicts demand for its gas turbines will increase in Saudi Arabia, even with the kingdom working to supply a third of power needs from solar energy within the next two decades. Saudi Arabia already has 500 installed gas turbines from GE that generate about half its electricity, and the Middle Eastern […]

     
  • Modernity and tradition: Khalid Habash’s stunning photos of Saudi
     

    It is no secret that Saudi Arabia’s economy and society are modernizing at a remarkable pace. Already the Arab world’s largest economy, the Kingdom also has one of the world’s highest GDP growth rates.  Government spending is expansive and investment in infrastructure, education and numerous other sectors are at all time highs.  Soon to be […]

     
  • Confronting Tremendous Challenges: Prince Turki al-Faisal
     

    I think Saudi Arabia over the past 80 years has been going through an Arab Spring. When you look at the Kingdom when I was born in it for example, 1945, there were no schools in Saudi Arabia. There were no roads. Disease and poverty were the rule rather than the exception. Since then, the […]

     
  • US Eximbank OKs record-breaking $5 bln loan for Saudi petchem complex
     

    In its largest job-supporting authorization to date, the board of the Export-Import Bank of the United States (Ex-Im Bank) has approved a $4.975 billion direct loan to Sadara Chemical Company for the export of American goods and services required in the construction of a petrochemical complex in Jubail Industrial City II in the Kingdom of […]

     
  • Saudi restoration commemorates pact of princes, clerics
     

    Climb the rickety ladder through the Emir Omar bin Saud Palace courtyard in crumbling Diriyah and the image of old Saudi Arabia suddenly appears in an adobe roofscape set against dark green palms. The caramel tones of the mud walls, the smell of dust mingling with water and the muffled clanging of hammer on stone […]

     
  • U.S. Approval Eroding in MENA Before Film Controversy
     

    Approval of U.S. leadership in the Middle East and North Africa (MENA) region was already slipping before the recent wave of anti-U.S. protests across the region. An average of 20% of adults across 12 MENA countries Gallup surveyed between January and May 2012 approved of the job performance of the leadership of the U.S. This […]

     
  • Jadwa: Private sector leads real GDP growth in Q2
     

    Jadwa Investment recently released a report about GDP growth in Saudi Arabia, noting that the private sector was leading real GDP growth in the second quarter of 2012. Latest economic growth data released last week confirm that the healthy performance of the Saudi economy continued into the second quarter of 2012 albeit at slower pace than previous […]

     
  • Abdullah Alireza speaks at C3 Summit
     

    SUSTG attended the C3 Summit in New York City September 13-14, 2012. This was the inaugural event in what the organizers anticipate will be an annual gathering to ‘build new relationships, foster existing partnerships and exchange best practices’ between the U.S. and the Arab world. C3 (Community, Collaboration and Commerce) is looking to host the […]

     
  • Saudi Arabia says job-creation policy bears fruit
     

    Saudi Arabia, grappling with chronic youth unemployment, has created 380,000 new jobs in 10 months by requiring private firms to employ Saudis, Labor Minister Adel al-Fakeih said, the Saudi Gazette reported on Monday. “This figure is 20 times what had been previously achieved over the past five years before Nitaqat (the main jobs program) was […]

     

MUST-READS

  • Electronic security supports e-commerce growth in KSA: American Express

    The regulation of e-commerce and the strong electronic security pushed the e-commerce growth rate higher in Saudi Arabia, Al Eqtisadiah newspaper reported, citing Fahad Al Guthami, CEO of American Express Saudi Arabia. He added that the company recorded a 62% rise in local e-commerce sales during 2023, noting that the number of e-commerce transactions also leapt by 41% during the same year. Digital transformation opened the way for medium and small-sized enterprises as well as emerging companies to keep pace with this development, Al Guthami said.

  • The benefits of neutrality: Saudi foreign policy in the wake of the Ukraine war

    Regardless of its voting behaviour at the UN, the Kingdom – which, unlike other Middle East states, was less dependent on wheat imports from the Black Sea region (Al-Saidi, 2023) – settled on the adoption of a neutral position. Only in May 2023 would Minister of Foreign Affairs Faysal bin Farhan officially acknowledge that stance, holding that Saudi Arabia had adopted ‘positive neutrality’ during the war (Al Arabiya, 2023).

  • Saudi Arabia to host Future Aviation Forum 2024

    The FAF 2024, which will attract more than 5,000 international experts from the aviation industry, leaders of international airlines, and officials from aviation authorities in participating countries, will discuss global aviation issues, air transportation, the development of environmental sustainability in the civil aviation sector, enabling advanced air transport, and enhancing global connectivity, Saudi Press Agency (SPA) reported.

  • Saudi Arabia’s Vision 2030, the rise of fintechs and professional development

    With Saudi Vision 2030 and other regulatory regimes encouraging and facilitating the use of fintech, Annette Spencer, the ACT’s chief executive, said: “It struck me that regulation and technology are becoming friends and allies in a way that perhaps has not always been the case in the past.” Solid relations between banks and corporates are an important foundation of doing business in Saudi and the Gulf region. Alhudaif stressed how her company had explored what services banks can provide regarding cash management, credit facilities investments and financial leasing products.

  • Saudi Arabia: better growth prospects

    In 2024, economic activity should be only slightly positive. We expect 1.2% on average. In fact, oil production should only slightly progress and not before Q4 2024. With regard to non-oil activity, the tight labor market conditions will be a constraint on an economic rebound. Indeed, the unemployment rate has stabilized and the participation rate has stopped to progress for about two years despite a sharp increase in female participation rate to the labor market for several years.

  • Iran says keen to develop ties with Saudi Arabia

    Iranian Foreign Minster Hossein Amir-Abdollahian and his Saudi counterpart Faisal bin Farhan Al-Saud held a telephone conversation on the occasion of Eid al-Fitr, discussing bilateral ties and regional developments. “Amir-Abdollahian pointed to the progress of bilateral relations between the two countries, stressing that Iran is determined to expand bilateral ties with Saudi Arabia as much as possible,” Iran’s semi-official Tasnim news agency reported.

  • Cannes selects first Saudi film for competition in festival’s 77-year history

    Six years after the country announced its intention to build a home-grown industry, a film from Saudi Arabia has been selected to compete in the Cannes Film Festival for the first time. Norah, Saudi director Tawfik Alzaidi's feature debut, has been selected in the Un Certain Regard section and will compete against 19 other entries from around the world. The category, established in 1978, runs in parallel to the festival's long-running Palme d'Or competition and aims to recognise emerging talent and non-traditional narratives.

  • How technology is shaping education in Saudi Arabia

    Thus, the digital transformation of the education sector is another important part of Vision 2030’s success, to ensure young people in the Kingdom have the right skills for the future world of work. According to PwC, Hopes and Fear survey, 57% of the respondents in Saudi Arabia are either excited or confident about the future of their children and that technology will offer a world full of possibilities for their kids.

  • Senior U.S. general to visit Israel to coordinate on Iran attack threat

    Iranian officials have publicly threatened to retaliate against Israel for an attack in Syria last week that killed a top Iranian general. An attack on Israel or its bases could lead to another regional escalation.

  • Donations to national charity campaign in Ramadan exceed SR1.8 billion

    The National Platform for Charitable Work (Ehsan) has proudly announced that the donations for the fourth National Campaign for Charitable Work soared past SR1.8 billion during Ramadan, spanning from the 5th to the 30th of the holy month. This remarkable achievement was kickstarted with significant donations from the Custodian of the Two Holy Mosques King Salman and Crown Prince and Prime Minister Prince Mohammed bin Salman, who collectively contributed SR70 million.