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Recent stories from sustg

  • Jadwa Saudi Chartbook for August 2012: Banking Indicators
     

    Jadwa Investment’s recently released Saudi Charbook for the month of August 2012 found that the Saudi economy remained “robust.” On the subject of banking indicators in Saudi Arabia, Jadwa found that “bank lending to the private sector jumped in June. Monthly growth was the highest since August 2009. In year-on-year terms it was at its peak since […]

     
  • ‘There is a large infrastructure boom happening in Saudi Arabia’
     

    Saudi Arabia is spending more than $60 billion on a logistics hub, airport improvement and roads to reduce travel time in the Arab world’s biggest economy. The investments also yielded the largest sukuk, or Islamic bond, offered in the Middle East this year and an initial public offering on the stock exchange in June. “There […]

     
  • Wealth Management in the Middle East: Boon or Bust?
     

    Middle Eastern policymakers and bankers will develop an indigenous wealth management industry which keeps the super-wealthy’s investments at home. Developing a local national wealth management industry requires letting in foreign competition, changing banking and securities laws, and growing local companies whose shares are worth buying. The first part of the article reviews trends in wealth […]

     
  • Saudi Students Flood In as U.S. Reopens Door
     

    The more than 300 graduates gathered at a hotel overlooking the Potomac River were all from Saudi Arabia, part of a massive government-paid foreign study program to earn bachelor’s, master’s and doctorate degrees and return home to help run their country. “You are the best of the best, and the future of our country,” Saudi […]

     
  • Saudi consumer electronics market surges
     

    Saudi Arabia’s consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and video, audio and gaming products is projected at $6.4 billion in 2012, Business Monitor International said in “Saudi Arabia Consumer Electronics Report Q2 2012″report. This is expected to increase to $8.2 billion by 2016, driven by the growing […]

     
  • The Saudi Cultural Mission’s New Headquarters
     

    The new SACM headquarters in Fairfax, Virginia provides a modern hub for Saudi Students in the United States, and stands as a symbol of the strong cultural relations between the United States and Saudi Arabia. Until recently, the future of the iconic Watergate hotel and office complex in Washington DC, which was the site of […]

     
  • With customs union, GCC edges toward closer economic ties
     

    Saudi Arabia, the biggest Arab economy, is leading moves toward political and economic cooperation, which it believes would give the mostly Sunni-led monarchies of the Gulf more power to withstand any confrontation with Shi’ite Iran. Closer business ties within the GCC, which consists of Saudi Arabia, the UAE, Kuwait, Qatar, Oman and Bahrain and has […]

     
  • Ramadan 1433
     

    Ramadan means more in the lives of Muslims than refraining from eating and drinking during the daylight hours. The ritual fasting during the holy month is among the five pillars of Islam: Shahadah, the declaration of faith; Salat, five daily prayers; Zakat, charitable giving; Hajj, the pilgrimage to Mecca; and Sawm of Ramadan, the ritual […]

     
  • Saudi car sales to hit $25 billion by 2013
     

    Saudi Arabia has ambitious plans to further expand its lucrative automobile industry. In 2011 alone, the Kingdom announced the sale of approximately 800,000 cars potentially increasing to 1 million vehicles per year by the end of the current decade. In this context, the country is planning to start manufacturing automobile parts by 2013 in addition […]

     
  • Muslims across the world prepare to observe Ramadan
     

    Muslims around the world begin fasting on Friday in observation of Ramadan, the holiest month in Islam when the faithful abstain from eating food or drinking water from sunrise to sunset…. Every year, identifying the start of Ramadan is like a waiting game; Islamic scholars must see the new crescent moon in the night skies […]

     

MUST-READS

  • Umrah not allowed for those without a Hajj permit between May 24 and June 26

    The Ministry of Hajj and Umrah announced that Umrah permits will not be issued for those who do not have a confirmed Hajj permit during the period from Dhul Qada 16, corresponding to May 24, until Dhul-Hijjah 20, corresponding to June 26. The ministry issued the directive to facilitate the Hajj pilgrims, who started flocking to Saudi Arabia from all over the world, to perform their rituals at the Grand Mosque in Makkah in ease and comfort.

  • Saudi king to be treated for lung inflammation, state news agency says

    Saudi King Salman will undergo treatment at Al Salam Palace in Jeddah for a lung inflammation, the state news agency said on Sunday, hours after he underwent medical tests.
    Citing the royal court, the state news agency said the 88-year-old king would be treated with antibiotics until the inflammation subsides.
    Due to King Salman's health issue, Crown Prince Mohammed bin Salman, the de facto Saudi leader, postponed a visit to Japan that had been scheduled to begin on Monday, Japan's Chief Cabinet Secretary Yoshimasa Hayashi said.

  • Readout of National Security Advisor Jake Sullivan’s Meetings in Saudi Arabia and Israel

    Mr. Sullivan arrived in Israel from Dammam, Saudi Arabia, where he held constructive meetings with the Crown Prince and Prime Minster of Saudi Arabia Mohamed bin Salman focused on a comprehensive vision for an integrated Middle East region. Mr. Sullivan briefed Prime Minister Netanyahu and his team on these meetings and the potential that may now be available for Israel, as well as the Palestinian people.

  • Saudi crown prince, US national security adviser meet on bilateral deal

    Saudi Crown Prince Mohammed bin Salman and White House National Security Adviser Jake Sullivan met to discuss an almost 'finalized' draft of a deal between Washington and Riyadh, the Saudi state news agency reported on Sunday.
    The meeting in the Saudi city of Dhahran reviewed "the semi-final version of the draft strategic agreements between the two countries, which are almost being finalised," a statement read.

  • Iranian President Ebrahim Raisi, hardline ally of Supreme Leader, killed in helicopter crash

    Iranian President Ebrahim Raisi, a hardliner seen as a potential successor to Supreme Leader Ayatollah Ali Khamenei, was killed after his helicopter crashed in poor weather in mountains near the Azerbaijan border, officials and state media said on Monday.
    The charred wreckage of the helicopter which crashed on Sunday carrying Raisi, Foreign Minister Hossein Amirabdollahian and six other passengers and crew was found early on Monday after an overnight search in blizzard conditions.

  • Unveiling “The Clean Hydrogen Economy and Saudi Arabia”: A Roadmap to Energy Leadership

    Faculty and researchers from King Abdullah University of Science and Technology (KAUST) and King Abdullah Petroleum Studies & Research Center (KAPSARC) have unveiled a new publication: "The Clean Hydrogen Economy and Saudi Arabia." With a foreword by KAPSARC President Fahad Alajlan and KAUST President Tony Chan and co-edited by KAUST research scientist Dr Saumitra Saxena, this book charts new energy discourse, offering a comprehensive analysis of the emerging global hydrogen economy through the lens of one of the world's foremost energy providers, Saudi Arabia.

  • Surf’s up in the Saudi desert: Huge water park joins Qiddiya giga-project

    Aquarabia is part of the larger Qiddiya giga-project near the country's capital Riyadh, which is being headed by the Bjarke Ingels Group. We've no word on the water park's exact size, but from the renders at least, this thing looks huge, and is described as the largest of its kind in the region.

  • Awakening the sleeping giant: How Saudi Arabia plans to attract more foreign tourists

    Saudi Arabia plans to become a travel hot spot, ploughing $800 billion in tourism investments to develop the sector and setting a revised target of attracting 150 million visitors by the end of the decade. But a key part of that effort is luring international travellers to explore the lesser-discovered country.

  • Hezbollah introduces new weapons and tactics against Israel as war in Gaza drags on

    Hezbollah has regularly fired missiles across the border with Israel over the past seven months, but the one on Thursday appears to have been the first successful missile airstrike it has launched from within Israeli airspace. The group has stepped up its attacks on Israel in recent weeks, particularly since the Israeli incursion into the southern city of Rafah in the Gaza Strip. It has struck deeper inside Israel and introduced new and more advanced weaponry.

  • Ranked: The World’s 50 Largest Private Equity Firms

    In 2023, private equity firms controlled $8.2 trillion in assets globally according to McKinsey & Company, a figure that has rapidly expanded since the industry first emerged 40 years ago. As large investors such as pension funds and insurance companies increasingly look to private markets, these alternative asset managers have seen their assets grow by more than twofold in the last five years.