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Recent stories from sustg

  • 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 […]

     
  • Total US-Saudi Bilateral Trade Reaches Record-High $39 Billion in H1 2012
     

    Total bi-lateral trade between Saudi Arabia and the United States reached $39 billion in the first six months of 2012, a record high for any half to date.  Below are some key US-Saudi trade figures for the first half (H1) of 2012 provided to SUSTG by the Saudi Commercial Office at the Royal Embassy of […]

     
  • ‘A Disciplined Approach To Forward-Looking Policymaking’
     

    A recently released report by the Center for Strategic and International Studies on Saudi Arabia’s energy policy finds that the Kingdom is pursuing a “disciplined approach to forward-looking policymaking.” The report was published by Hisham Akhonbay, who is a visiting fellow with the Energy and National Security Program at CSIS from the King Abdullah Petroleum […]

     
  • Will Saudi Arabia become an oil importer by 2030?
     

    THIS was the question asked all of this past week all over the world. Thousands of stories were filed on the topic, following speculation by a Citigroup analyst that Saudi Arabia may start importing oil by 2030. According to that theory, by 2030, Saudi consumption of oil would outstrip production and we could be importing […]

     
  • Saudi Mortgage Law: Key Details Still to be Determined
     

    Saudi Arabia faces housing challenges caused by rapid population growth and an inflow of expatriate workers to the kingdom.

     
  • Property rents soar in Saudi Arabia, analyst report shows
     

    Residential property rents in Saudi Arabia’s main cities have increased by up to 15% in some locations in the first six months of the year. The latest analysis report from real estate consultants CBRE explains that an increasing population and a rapid rise in per capita GDP has led to soaring rents. There has been […]

     
  • Jadwa September 2012 Saudi Chartbook – Inflation
     

    Jadwa Investment’s recently released Saudi Charbook for the month of September 2012 found that the Saudi economic activity in July experienced a “modest slowdown of economic activity…with indicators of consumer spending and PMI slowing on the back of a seasonal trend.” However, Jadwa notes that the “healthy underlying economic momentum remains in place.” Below is a snapshot of […]

     
  • President Obama’s Envoy to Mecca Islamic Summit Shares Views
     

    A little known detail about last month’s Extraordinary Islamic Solidarity Summit in Mecca was the presence of an American diplomat representing President Barack Obama to the 56-member Organization of Islamic Cooperation (OIC). The special summit, which met on August 14-15, 2012, was called by King Abdullah to take up crises, conflicts and serious issues affecting […]

     
  • Saudi real estate market poised for new boom
     

    New programmes and the new mortgage system — approved by the cabinet in July and expected to take force in the next few weeks — will contribute to decreased land prices, realtors said. Land prices are expected to drop by 20%, especially in the central, eastern and western regions, according to realtors. Residential land prices […]

     

MUST-READS

  • Saudi Arabia’s TechMal closes $1 million pre-Seed

    Saudi-Arabia based fintech TechMal has raised $1 million in a pre-Seed investment round, led by Al Majidiya Investment Company alongside other investors. Founded in 2024 by Saud Al-Rebdi and Basil Alsuhaibani, TechMal operates as a micro-consumer finance company.

  • Historic Jeddah Program marks 10 years of UNESCO World Heritage recognition

    The Jeddah Historic District Program, part of the Ministry of Culture, is celebrating the 10th anniversary of Historic Jeddah's inscription on the UNESCO World Heritage List in 2014. The program continues its efforts to revitalize the district, aiming to preserve its cultural and urban heritage and transform it into a global heritage destination in line with the Kingdom’s Vision 2030.

  • CENTCOM says ISIS is reconstituting in Syria and Iraq, but the reality is even worse

    In an unusual public statement late on July 16, United States Armed Forces’ Central Command (CENTCOM) announced that after six months of 2024, “ISIS is on pace to more than double” the number of attacks in Syria and Iraq it claimed in 2023. According to CENTCOM, ISIS has so far conducted 153 attacks across both countries from January through June, noting that “the increase in attacks indicates ISIS is attempting to reconstitute following several years of decreased capability.” CENTCOM’s commander, Gen. Michael E. Kurilla, insisted that achieving an enduring defeat of ISIS still relies on the “combined efforts of the Coalition and partners” — a clear message ahead of next week’s US-Iraq bilateral talks in Washington regarding the future of the counter-ISIS coalition presence in Iraq.

  • The UAE’s Path to Food Self-Sufficiency

    The UAE has achieved high rankings in food security indices. However, these rankings do not fully capture all aspects of the UAE’s food supply challenges, which primarily stem from its lack of food self-sufficiency. Food self-sufficiency – having greater control over food supply and reducing vulnerability to external threats – is crucial, as it allows a country to directly manage and influence its food production and availability. Despite the presence of over 38,000 farms in the UAE, their contribution to its food supply is minimal compared to food imports, which constitute up to 85% of consumption and cost about $13.2 billion in 2022. While this amount is manageable for a country as wealthy as the UAE, this reliance on food imports makes the UAE vulnerable to global food supply shocks caused by climate change, geopolitical tensions, pandemics, and other disruptions. 

  • When the Taliban Took Kabul, She Fled, and Made a New Life in New York

    Now, almost three years later, she has been able to build a new life in New York City because of an audacious escape plan hatched by law professors thousands of miles from Afghanistan. Her story is one of liberation — from the Taliban, who were notorious for oppressing women — but also of loss for what she and other promising young people could have done for their home country had they not felt their lives were in danger.

  • Diriyah: The Historic Heart of Saudi Arabia will Transform Urban Living

    This is without a doubt the biggest project I have ever worked on. I have worked with some of the biggest developers in the region in the past – but nothing of the size, scale and ambition of Diriyah. When you consider our starting point is as the custodian of the birthplace of the modern Saudi state and its 300-year-old heritage – we have an enormous responsibility to ensure that we preserve the past, embrace the present and create a dynamic new future.

  • Saudi Arabia’s PIF makes bid to increase stake in Selfridges

    PIF already owns a 10 per cent share in the Selfridges properties, while 40 per cent is owned by the troubled real estate and retail empire, Signa and the remaining 50 per cent is owned by the Thai retail conglomerate Central Group.

  • Saudi Arabia launches bidding for new mineral exploration licenses

    The Ministry of Industry and Mineral Resources, Saudi Arabia has announced in a press release the launch of its most extensive mineralized belts to date, covering an expansive 4,788 km² that includes five exploration licenses. The ministry is inviting major mining and exploration companies to participate in the ongoing Exploration Licensing Rounds aimed at unlocking the belts’ vast mineral wealth.

  • Saudi Arabia calls for restraint following Israeli airstrikes in Yemen

    Saudi Arabia called on all parties to exercise maximum restraint and to distance the region and its people from the dangers of war after the Israeli attacks in Al Hudaydah governorate on Saturday, which aggravate the current tension in the region and halt the ongoing efforts to end the war on Gaza.

  • Saudi capital market’s momentum likely ongoing in H2 2024: HSBC Saudi Arabia

    The Saudi capital market is expected to see continued momentum in H2 2024, backed by a strong pipeline of initial public offerings (IPOs), announced projects, and investment opportunities, which is seeing higher investor engagement by local and foreign players at record highs compared to previous years, Faris AlGhannam, CEO and Board Member of HSBC Saudi Arabia, said.