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Recent stories from sustg

  • “Milestone” oil manipulation case unsettles traders
     

    U.S. regulators’ $14 million settlement with high-frequency trading firm Optiver over oil price manipulation in 2007 is a “milestone” victory in their toughening stance on market malfeasance which is being closely watched by traders. In its first major case against an algorithmic trader, the Commodity Futures Trading Commission said late on Thursday that a court […]

     
  • Home boom aids Saudi Telecom profit surge
     

    Soaring demand for broadband helped Saudi Telecom Co (STC) post a 60 percent increase in first-quarter profit on Wednesday, with the former monopoly reporting rising revenues in its mobile, fixed line, corporate and wholesale units. The former monopoly, which will pay a quarterly dividend of 0.5 riyals per share, made a profit of 2.52 billion […]

     
  • US and Saudi team up for renewable energy projects
     

    The United States and Saudi Arabia are prepared to sign a number of deals related to the establishment of investment and service projects depending on renewable energy resources, Arab News reported. US Assistant Secretary of Commerce for Manufacturing and Services, Nicole Lamb, said the US would support the Kingdom on its drive to develop clean […]

     
  • The arms spending map of the world
     

    How much do countries spend on their militaries? This data from the Stockholm International Peace research Institute shows the world in arms spending – both in dollars over time and as a percentage of GDP.

     
  • Major Banks Expanding in Saudi Arabia
     

    “We’d be crazy to limit ourselves to a handful of bankers when we can see oil prices are going to sustain the Saudi economy for the foreseeable future,” Rory Gilbert, the head of Middle East and North Africa at London-based Barclays’s wealth management unit, said in an interview this week in Dubai. “In four or […]

     
  • A Nuclear Iran: CNN
     

    What do we really know about the Iranian nuclear threat?  Iran says it wants the right to have its peaceful nuclear program formally recognized.  But from the outside, Iran has long given the impression it has something to hide.  And fear that Iran may soon have the capability to build a nuclear weapon, has spurred […]

     
  • Saudi ‘tops in mobile users’
     

    Saudi Arabia has the highest proportion of mobile phone users in the world with 188 per cent, followed by Vietnam and Oman in the second and third places respectively, according to a recent study. The study which was conducted by the United Nations Conference on Trade and Development (UNCTAD) indicated that this percentage is by far […]

     
  • The Menu of Options in the Iranian Nuclear Talks
     

    For the first time in more than a year and a half, negotiators from Iran and the so-called P5+1 countries – the five permanent members of the United Nations Security Council, the U.S., Russia, China, France and England, plus Germany – will sit down with their Iranian counterparts this Friday in Istanbul to talk about […]

     
  • Saudi Defense Minister Prince Salman Visits Pentagon, White House
     

    Saudi Defense Minister Prince Salman bin Abdul Aziz held talks at the Pentagon on Wednesday that focused on the crisis in Syria, hours before a ceasefire deadline was due to expire. The Saudi defense chief later held talks with President Barack Obama in the Oval Office.

     
  • Saudi Arabia & the GCC – post ‘Arab Spring’: Obaid
     

    This week Mr. Nawaf Obaid, former strategic adviser to Prince Turki Al-Faisal, presented a briefing titled, “Saudi Arabia & the GCC in a Post ‘Arab Spring’ Environment” at the Harvard Kennedy School of Government as part of a program examining responses among GCC states to the “Arab Spring” turmoil that started early last year. Obaid […]

     

MUST-READS

  • Saudi Arabia forms global alliance to push for Israeli-Palestinian two-state solution

    Saudi Arabia has formed a global alliance to push for a two-state solution to the Israeli-Palestinian conflict, the country's foreign minister Prince Faisal bin Farhan Al Saud said on Thursday on the sidelines of the United Nations General Assembly meeting in New York. The alliance includes a number of Arab and Muslim countries and European partners, the Saudi state news agency reported, without specifying which countries had committed to join.

  • Saudi Arabia: Experience The Monumental Heritage Of A Kingdom Waiting To Be Explored

    Alhasan revealed that Saudi Arabia ranked as one of the top long-haul destinations for Malaysian travelers last year, “representing 23% of all long-distance trips.” In comparison to the figures from 2022, Saudi Arabia saw a significant 15% rise in Malaysian visitors in 2023, highlighting the growing appeal of the kingdom among Malaysian tourists. The Saudi Arabian tourism ministry, through the Saudi Tourism Authority’s (STA) office in Kuala Lumpur, will maintain its strong collaboration with travel partners in Malaysia to further enhance tourism opportunities.

  • Europeans, Arab and Muslim nations launch a new initiative for an independent Palestinian state

    To accelerate work on these issues, Eide said almost 90 countries attended a meeting Thursday on the sidelines of the U.N. General Assembly’s current gathering of world leaders. He and Saudi Arabia’s foreign minister co-chaired the session to launch “The Global Alliance for the Implementation of a Palestinian State and a Two-State Solution.”

  • Netflix to release Saudi thriller ‘Mandoob’ on October 1

    Netflix has announced the release of Mandoob (Night Courier), a Saudi dark comedic crime thriller, on October 1, 2024. Backed by the Red Sea Film Foundation, the film premiered at the 2023 Toronto International Film Festival and made its Middle East and North Africa (MENA) debut at the Red Sea International Film Festival in Jeddah in December.

  • Saudi FM slams Israel’s ‘barbaric practices’ against ‘defenseless’ Palestinian civilians

    Prince Faisal urged the UN to recognize Palestine as a full member, saying: “We welcome the adoption by the General Assembly on May 10, 2024, of a resolution that states that the state of Palestine fulfills all the conditions to become a fully fledged member state of our organization, and we welcome the decision of Norway, Spain, Ireland, Slovenia and Armenia, who have recognized the brotherly country of Palestine.”

  • Huge fire ravages one of Jeddah’s largest markets

    A devastating fire has ravaged large parts of Jeddah International Market, one of the largest markets in the governorate. Two firefighters died while performing their duties to extinguish the fire at the famous market, which broke out at 6 a.m. on Sunday, according to the Civil Defense. More than 20 firefighting units were pressed into service to contain the rapidly spreading flames as the market in the Al-Rawdah district was partially engulfed in smoke.

  • Saudi National Orchestra dazzles London with a breathtaking concert at Westminster Hall

    In a night filled with grandeur and cultural resonance, the Saudi National Orchestra and Choir performed to a full house at Westminster Hall in London, marking a momentous occasion for Saudi music on the international stage. Organized by the Saudi Music Commission, the concert, titled Marvels of Saudi Orchestra, was the grand finale of the orchestra’s London tour before heading to its next destination, Tokyo. This event is part of Saudi Arabia's broader efforts to elevate the global presence of its cultural and artistic talents.

  • Foreign Minister Delivers Saudi Arabia’s Speech at the 79th Session of the UN General Assembly

    Our world today is witnessing many crises exacerbated by the satisfaction of managing them without finding practical solutions to address them. This is due to the laxity of practical international efforts and selectivity in implementing international law and international humanitarian law. This has resulted in the expansion of the circle of violence and conflicts and the threat to the principles of international legitimacy. This requires us to adhere to the principles and foundations set by the United Nations Charter, work together, and focus on long-term peaceful solutions that ensure the protection of civilians, end fighting and wars, and provide security and development regionally and internationally.

  • Saudi Arabia sees 656% surge in leisure tourism in 2024

    The most notable development is a 656% increase in tourists arriving for entertainment and holiday purposes. The ministry highlighted that 4.2 million tourists visited for these reasons in the first seven months of 2024, reflecting a 25% rise from the previous year and a significant leap from pre-pandemic levels in 2019.

  • Saudi companies secure $3.2bln funding for 5.5GW solar projects

    A consortium comprising Saudi-listed ACWA Power, the Water and Electricity Holding Company (Badeel), a wholly owned company of PIF and Saudi Aramco Power Company (SAPCO), a wholly owned unit of Aramco, has secured financial close on 5.5 gigawatt (GW) solar PV projects worth 12 billion Saudi riyals ($3.2 billion).