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Recent stories from sustg
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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 […]
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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.
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Education, Women’s Empowerment and Change
There has been a significant investment in education, which is great. In the last eight or nine years the number of Saudi Universities has more than quadrupled from about seven to over 30. Some of that increase has been through splitting up existing, very large universities, like King Abdul Aziz University, into more manageable sizes. […]
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Saudi car sector to accelerate
Strong fundamentals coupled with a rapidly growing young population made Saudi Arabia the largest importer of vehicles and automotive parts in the Middle East in 2011, with the pace seen accelerating in the medium term, the National Commercial Bank said in its report on the Kingdom’s automotive sector released Wednesday. It noted that rising income […]
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The Importance of Economic Diversification for Saudi Arabia
In a clear break from past trends, Saudi Arabia’s private sector is growing. This trend can be in part explained by the increase in bank lending to private sector. In year-on-year terms, lending growth was at its highest since March 2009. More specifically, bank lending to private sector rose by 1.1 percent in April to […]
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Saudi Arabia names Defense Minister Prince Salman new heir to throne
Saudi Arabia’s ruler named Defense Minister Prince Salman bin Abdul-Aziz is the country’s new crown prince Monday — an expected nod that leaves power still within an aging and shrinking circle of leaders in one of the West’s most critical Middle East allies.
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Saudi Arabia mourns death of Crown Prince Naif
The funeral prayers for the Saudi Crown Prince Naif bin Abdul Aziz will be held at the Haram Mosque in Makkah following the Maghreb prayer today. The body will then be buried at the graveyard in the holy city. Muslim leaders from across the world started arriving in Jeddah on their way to Makkah to […]
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Saudi Crown Prince Nayef dies
Saudi Crown Prince Nayef bin Abdulaziz, a hard-line conservative who is credited with pushing back al Qaeda, has died, Saudi state TV said on Saturday. Nayef, who had been named crown prince in October by his brother the king, was heir to the Saudi throne. State TV is broadcasting Quran readings as an expression of […]
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Five Facts About Saudi Arabian Horses
The 2012 London Olympics have had many controversial headlines in the news about horse sports and Saudi Arabia. With that in mind, many people know about the Arabian horse’s influence in modern Thoroughbreds and equestrian athletics, what about a country these horses originate from? Interestingly, the country of Saudi Arabia is full of horse-related facts […]
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Jadwa Investments May 2012 Inflation Report for Saudi Arabia
Jadwa Investment’s recently released May inflation report for Saudi Arabia found a year-on-year decrease in inflation to 5.1 percent, the lowest since August 2011. Jadwa noted that the decline “was due to a fall in inflation for ‘other expenses and services,’ which stems from lower gold prices.”
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MUST-READS
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64% of Israelis oppose the establishment of a Palestinian state in Saudi deal – survey
In a revealing survey by the Jerusalem Center for Foreign Affairs (JCFA), some 64% of the Israeli public stands against establishing a Palestinian state as part of the normalization process with Saudi Arabia. The full report will be unveiled at the 13th Annual Jerusalem Post Conference in New York next week. In collaboration with the Panels Politics research institute, led by Menachem Lazar, the survey focuses on the stance of both Jewish and Arab Israelis on this critical political issue.
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Saudi film ‘Norah’ earns special mention at Cannes 2024
Saudi writer-director Tawfik Alzaidi’s film Norah has received a Special Mention from the Cannes jury in the Un Certain Regard category. The nomination of Norah is significant as it marks the first film from Saudi Arabia to be entered into an official selection at the prestigious festival. Director Tawfik Alzaidi, along with the cast and crew, took to the stage to accept the accolade in front of a full house.
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Saudi Arabia strongly condemns continued Israeli ‘massacres’
Saudi Arabia’s ministry of foreign affairs said on Monday that it strongly condemned and denounced the “continued massacres of the Israeli occupation forces,” the latest of which was an airstrike on a center for displaced people near Rafah. For the latest updates on the Israel-Palestine conflict, visit our dedicated page. Overnight Israeli strikes set ablaze tents of displaced Palestinians in Rafah, leaving at least 40 dead according to Palestinian officials.
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Saudi Arabia’s sovereign wealth fund launches new group to boost space industry
The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, on Monday launched the Neo Space Group to work on the Kingdom’s satellite and space industry, its first investment in the sector.
The Neo Space Group or NSG is the “PIF’s first investment focused on the space industry,” the sovereign wealth fund said in a statement.
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Saudi just got its first silent airport – can you guess where it is?
Management issued this decision based on keeping up with the best global practices applied in several international airports around the world such as in Singapore Changi International Airport, Zurich International Airport, Dubai International Airport and more. Abha International Airport will no longer announce flight details during boarding. Instead, you’ll be getting all the relevant accurate information through flight display screens.
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US expected to lift ban on sale of offensive weapons to Saudi Arabia, FT reports
The United States is expected to lift a ban on the sale of offensive weapons to Saudi Arabia, potentially in the coming weeks, the Financial Times reported on Sunday.Washington has already signaled to Saudi Arabia that it was prepared to lift the ban, the newspaper reported, citing a person familiar with the matter.
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Saudi Arabia appoints first ambassador to Syria since 2012
Saudi Arabia on Sunday announced the appointment of its first ambassador to Syria since severing ties with Damascus in 12 years, marking an ongoing thawing in relations since the war-torn country was readmitted to the Arab League over a year ago.
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Opinion: There’s a Huge Opportunity For Saudi Tourism – But it Needs to Embrace Nuance
The Saudi Public Investment Fund gets a lot of attention with its mega deals. This is to be expected. What I want to see is room for a certain segment of the private sector: early-stage entrepreneurs and innovators building something from the ground up.
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Monsha’at reveals key economic indicators for Saudi fashion industry
The Kingdom’s fashion sector is expected to grow at a compound annual growth rate (CAGR) of nearly 48% between 2021 and 2025. The sector’s value amounted to roughly SAR 92.3 billion in 2021, Monsha’at added. It was valued at SAR 46.9 billion in 2022, with consumer spending on imported brands reaching SAR 27.4 billion in 2021.
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Saudi Arabia aims to attract over $3 trillion in investments by 2030
Saudi Minister of Investment Khalid Al-Falih underscored the plan to draw investments and financial flows exceeding $3 trillion by 2030. Saudi Arabia, participating in the first Sino-Gulf Cooperation for Industries and Investments Forum in Xiamen, China, on May 23 and 24, focused on its ambitious Vision 2030. Led by Minister Al-Falih, the Saudi delegation included key representatives from both the government and private sectors.
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