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Recent stories from sustg

  • Major natural gas find by Saudis. A shift ahead?
     

    Saudi Arabia has announced that they made a major new find in natural gas in the Red Sea. The Saudis are already ranked 5th in the world for their reserves of natural gas, but they are only ranked 9th in terms of production of the commodity. They account for about 3 percent of world natural gas production. Compared […]

     
  • Muslims begin hajj pilgrimage – photo gallery
     

    Hours before sunrise Thursday, thousands of Muslims from around the world stood in the dark on a rocky desert hill, preparing for prayers on the first day of the annual hajj pilgrimage, a central pillar of their faith.

     
  • Anne Habiby: Entrepreneurship and Job Creation in the Arab World
     

    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. SUSTG has featured the remarks at this event of Abdullah Alireza (Global Economic […]

     
  • 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 […]

     

MUST-READS

  • Foreign investments in Saudi Arabia rise to SAR 2.55T in Q1 2024

    Foreign investments in Saudi Arabia stood at SAR 2.55 trillion by the end of Q1 2024, up 6% from Q4 2023, according to data from the Saudi Central Bank (SAMA).

  • Nationalisation in Saudi’s Engineering Sector

    The Ministry of Human Resources and Social Development, in partnership with the Ministry of Municipal and Rural Affairs and Housing, has announced the decision to nationalise 25% of engineering professions in the private sector effective from 21 July 2024. This will be applicable to all private sector establishments that employ five employees in the engineering professions.

  • New law empowers Saudi Arabia’s oversight authority to settle corruption cases

    The new Oversight and Anti-Corruption Authority's law granted the authority to make financial settlements with natural or legal persons who have initiated requests for settlement and have committed corruption crimes. The law, recently approved by the Council of Ministers, grants the Authority new powers to combat corruption, ensuring public funds are protected and that accountability is enforced. It includes provisions for criminal investigation, prosecution, and the establishment of councils to oversee the Authority's operations and its members.

  • Groundbreaking Railway Link Between Kuwait and Saudi Arabia to Launch in 2026

    A government source revealed that work is currently underway to launch the project for “initial design” soon after completing the necessary procedures, and international companies will be invited to contribute at this stage. The source stated that the actual implementation of the project will begin in 2026. The ongoing mutual visits and meetings between Kuwait and Saudi Arabia regarding the upcoming works, along with inspections of the project site address any obstacles. The source indicated that the railway is expected to carry 3,300 passengers daily with six round trips, covering about 500 kilometers in one hour and 40 minutes at high speed.

  • Hasan Alhasan: The Strategies of Gulf States

    The Gulf states are going to get however much they can get from whoever they can get it from. If they really want something, whether it's a piece of military hardware or assistance on AI or semiconductors, they have proved to be very dogged and pragmatic in their resolve.

  • The United States Invites the Sudanese Armed Forces and the Rapid Support Forces to Ceasefire Talks Co-hosted by the Kingdom of Saudi Arabia and Switzerland

    Over the past 15 months, the horrific conflict in Sudan has pushed millions to the brink of starvation and displaced nearly 10 million people.  It continues to cause immeasurable suffering for the Sudanese people.  The United States remains committed to working with partners to end this devastating war.  Building from the earlier Jeddah processes co-facilitated with the Kingdom of Saudi Arabia, the United States has invited the Sudanese Armed Forces (SAF) and the Rapid Support Forces (RSF) to participate in ceasefire talks mediated by the United States to begin on August 14, 2024, in Switzerland.  We thank the government of Switzerland for offering to host the talks and welcome the Kingdom of Saudi Arabia as a co-host.  The talks will include the African Union, Egypt, the United Arab Emirates, and the United Nations as observers.

  • US approves $2.8 billion in logistics, sustainment for Saudi Arabia

    The US State Department today okayed a potential $2.8 billion system logistics and sustainment contract for the Kingdom of Saudi Arabia, including support for Joint Mission Planning Software, cryptographic devices and work on a host of US-made aircraft.

  • Russia faces ‘big problems’ as sanctions bite, economy confronts recession risk amid ‘unprecedented’ brain drain, capital flight

    Russia’s economy is showing signs of overheating, with high inflation and abnormally low unemployment, while growth projections place it ahead of some advanced economies. However, experts warn that these indicators may be masking an impending recession. Despite being one of the world’s most sanctioned countries, recent projections suggest that Russia’s economy is still growing. According to the International Monetary Fund’s latest World Economic Outlook, Russia is poised to outpace many economies with a projected real GDP growth rate of 3.2 percent this year.

  • Protests and politics as Israel’s Netanyahu addresses US Congress

    Israeli Prime Minister Benjamin Netanyahu will be greeted by deep divisions among U.S. lawmakers, a distracted U.S. public and large protests on Wednesday as he addresses the U.S. Congress for a record fourth time. The long-time Israeli leader will speak to a joint meeting of the Senate and House of Representatives at 2 p.m. EDT (1900 GMT), passing British wartime leader Winston Churchill, who made such addresses three times.

  • Saudi Arabia plants 13 million mangroves to combat desertification

    The project distribution includes 5.5 million seedlings in Jazan, 2.4 million in Makkah, Two million in Madinah, 1.5 million in Tabuk, one million in Asir, and 500,000 in the Eastern Region. These efforts are part of a broader goal set by the center to plant 100 million mangrove trees along the Red Sea and the Arabian Gulf coasts in the upcoming years.