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Recent stories from sustg

  • Study finds ’80 more years of Saudi oil at current production levels’
     

    Saudi Arabia, the biggest oil producer in the world with a proven reserve of 264 billion barrels, could continue oil supplies for the next 80 years at the current production levels, the Kuwait-based Diplomatic Center for Strategic Studies (DCSS) said in a study. Saudi Arabia retains 38.7 percent of world oil reserves whereas the shares […]

     
  • Why Saudi Arabia’s Travel and Tourism Sector Is Ripe for Growth
     

    Saudi Arabia’s travel and tourism sector is poised for rapid growth in the next decade and beyond, and both Saudi and international corporations are looking to cash in on the opportunities ahead. A product of the changing economic and social landscape in Saudi Arabia, the coming tourism boom is likely to contribute to the Kingdom’s […]

     
  • Saudi, UAE, Qatar top Cleantech list
     

    Saudi Arabia, the UAE, Qatar and Jordan are the most attractive markets for clean technologies, thanks to their government plans, budgets and long-term strategies, said a report by Ernst & Young. These countries have also demonstrated investments in large initiatives such as KACARE, Masdar and the ‘Green’ Fifa World Cup 2022, said E&Y in the […]

     
  • Saudi Mortgage Law Approved – Jadwa Flash Note
     

    Jadwa Investments released a flash note discussing the recently approved mortgage law in Saudi Arabia, which the bank believes “is a very important step in broadening home ownership.” The new mortgage law “will help to tackle one of the most pressing social issues for many in the Kingdom and will generate significant benefits to the economy. However, […]

     
  • The Ritz-Carlton in Riyadh is Arguably the World’s Nicest Hotel
     

    If you look at pictures of the new Ritz Carlton, it might not look like it belongs in Riyadh, the capital of Saudi Arabia. Not because the arguably world’s nicest hotel isn’t worthy for the Kingdom, but because the style of the hotel makes it look like a king’s palace in old Europe, with a […]

     
  • Sulaiman Al-Rajhi’s life a rags to riches story
     

    Al-Rajhi is a billionaire who chose last year to become a poor man at his own will without having any cash or real estates or stocks that he owned earlier. He became penniless after transferring all his assets among his children and set aside the rest for endowments. In recognition of his outstanding work to […]

     
  • How Oil Has Driven Global Conflict For The Past 100 Years
     

    Michael T. Klare recently gave a presentation titled “The Geopolitics of Oil: Old and New” at the Association for the Study of Peak Oil conference in Vienna, in which he speaks about how no other substance in the world is as closely aligned with geopolitics as oil is. Klare describes the geopolitics of oil — the intersection […]

     
  • Hoteliers Expand in Saudi Arabia as Mecca Goes Upscale
     

    “I wish I could have more hotels in Mecca,” said Jan Smits, InterContinental’s chief executive officer for Asia, Middle East and Africa. “In four months, you make 70 percent of your income. It’s a really strong market and it’s one of the most unique in the world.” The company has been in the country since […]

     
  • The problem with taxing foreign-earned income
     

    Eritrea is one of only two countries in the world that applies citizenship-based taxation in addition to residence-based taxation.  The other? The United States of America. In fact, the US is the ONLY industrialized country in the world to impose citizenship-based taxation. The immediate result for American expatriates is a blizzard of confusing and complex […]

     
  • Saudis allow women to compete
     

    Saudi Arabia is to allow its women athletes to compete in the Olympics for the first time. Officials say the country’s Olympic Committee will “oversee participation of women athletes who can qualify”. The decision will end recent speculation as to whether the entire Saudi team could have been disqualified on grounds of gender discrimination.

     

MUST-READS

  • Saudi Arabia sees 14% spike in remittances amid digital transformation

    Saudi Arabia saw a 14 percent annual increase in remittances by expatriates in April, with the total amount reaching SR11.35 billion ($3.03 billion), the latest data showed. Meanwhile, payments from Saudis, which constitute 30 percent of total personal transfers, saw a 30 percent increase during this period, totaling SR4.94 billion, according to the Saudi Central Bank, known as SAMA.

  • Blinken in Middle East pushes Gaza ceasefire deal

    US Secretary of State Antony Blinken has visited Cairo and Jerusalem as he attempts to build regional support for a draft Gaza peace deal recently unveiled by President Joe Biden.

    The top American diplomat met with foreign leaders, including Israeli Prime Minister Benjamin Netanyahu, on his eighth visit to the Middle East since the start of the war in Gaza.

  • Pregnant Princess Rajwa dressed by Saudi designer for Jordan’s Silver Jubilee

    Princess Rajwa Al Hussein – the wife of Crown Prince Al Hussein bin Abdullah II – seemingly paid homage to her home country of Saudi Arabia when she donned a gown by Saudi designer Honayda Serafi at King Abdullah’s Silver Jubilee celebrations.

  • Saudi mining sector fastest growing investment hub globally: Ministry

    Saudi Arabia's mining sector has experienced the fastest global growth rate in the development of a regulatory and fundamental environment to attract investments over the last five years (2018-2023), according to the Ministry of Industry and Mineral Resources.   The ministry stated that Saudi Arabia has made significant global progress in the assessment of investment risks in the mining sector, which was issued by Minehutte and Mining Journal.

  • China, Middle East Ties Accelerating

    China sources about 50% of its oil from the Middle East and North Africa region, and about a third of its natural gas. While China is not as highly dependent on the Middle East for its energy as, say, Japan or South Korea, the region is clearly vital to its future. The flip side is also true. For several Middle East states (including US allies), China is their number one export destination. They include Saudi Arabia, Iraq, Iran, and Qatar.

  • Johnson Controls Arabia to localize Japanese technology to support growing exports

    Johnson Controls Arabia, a joint venture company with Johnson Controls International — a US Fortune 500 company — and Al Salem Group of Companies, is not just a local player. It is a prime example of how Saudi companies aspire to expand beyond the Kingdom and substantially affect the global stage, demonstrating the country’s growing influence in the international business arena.

  • Saudi aid agency rehabilitates fish landing center in Yemen’s Hodeidah

    Saudi Arabia’s King Salman for Humanitarian Aid and Relief Center (KSrelief) and the UN Food and Agriculture Organization (FAO) rehabilitated a fish landing center in Yemen’s Hodeidah, the Saudi Press Agency said. The site was renovated under the emergency support program to protect the agriculture, livestock and fishery-based livelihoods of highly vulnerable populations in Yemen, which is funded by the KSrelief.

  • U.S. Saudi Academic Partnerships (Cooperative Agreement)

    The Saudi Ministry of Education (MOE) has undertaken an ambitious effort to strengthen partnerships between U.S. and Saudi HEIs, including in STEM, the arts, space, energy, and health care, among other topics.  This program will facilitate such linkages by establishing an international academic partnership program that would connect Saudi and U.S. HEIs, selected by the U.S. Embassy and the MOE with the guidance of the award recipient (the Recipient); provide tools to facilitate active bilateral educational exchange and research partnerships; and bring a delegation from the U.S. HEIs to Riyadh, Jeddah, and Dhahran for engagements with the MOE and Saudi HEIs 

  • Presidential Elections in Iran: Curb Your Enthusiasm

    The Islamic Republic of Iran’s candidate-vetting Guardian Council has done it again: It has presented the Iranian public with presidential candidates who lack a political program, a social base, and the ability to mobilize voters. This strategy aims to repress voter participation in the election and thereby improve the odds of the election of Supreme Leader Ayatollah Ali Khamenei’s preferred candidate, Saeed Jalili. Jalili, like late former President Ebrahim Raisi, would be likely to follow Khamenei’s orders and could be scapegoated for the regime’s deficiencies. However, Parliamentary Speaker Mohammad-Bagher Qalibaf is expected to put up a fight, much to Khamenei’s displeasure. Meanwhile, the question of succession after Khamenei remains unresolved.

  • Saudi ministry of commerce officials inspect 24,880 shops ahead of Hajj

    Officials from Saudi Arabia’s Ministry of Commerce have inspected 24,880 shops in Makkah and Madinah to ensure they comply with the country’s business regulations. The shops were in the central areas of the two holy mosques, the Haramain train stations, commercial centers, gold and jewelry markets, and petrol stations. There were 1,259 violations recorded, the Saudi Press Agency reported on Sunday. Inspections will continue throughout the Hajj period, the ministry has indicated.