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Recent stories from sustg

  • Jadwa Investment’s Saud June 2012 Inflation Report
     

    Jadwa Investment’s recently released June inflation report found year-on-year inflation for Saudi Arabia eased again in June, slipping to 4.9 percent from 5.1 percent in May, the first time it has been below 5 percent since August 2011. The Riyadh-based investment firm also found lower rental inflation caused most of the fall. Jadwa’s report is […]

     
  • Saudi Arabia Ghazal Defies Camels as SUV for Desert Market
     

    Saudi Arabia is venturing into a territory normally reserved for automakers. The kingdom is developing the Ghazal, a sport-utility vehicle for the hazards of the desert, to diversify its economy beyond oil. The SUV, built by King Saud University in Riyadh, is an all-wheel drive vehicle with a rugged carbon-fiber frame aimed at taking on […]

     
  • Sarah Attar Is a Saudi Trailblazer, By Way of the U.S.
     

    One of the first women to compete for Saudi Arabia at the Olympics was born and raised in California. The athletes are Wodjan Ali Seraj Abdulrahim Shahrkhani, who competes in judo, and Sarah Attar, a 19-year-old junior at Pepperdine University and a graduate of Escondido High School in California. Attar, who trains in San Diego, […]

     
  • Living Social
     

    In their pursuit to be where the young consum­ers are, brands have long identified social media as a crucial place to establish a presence. Where else will you find huge numbers of youngsters highly active and engaged? Results from market research company TNS indicate that 68 percent of MENA youth spend 12 hours per  week […]

     
  • Saudi Arabia to Send Olympic Women Athletes for First Time
     

    Saudi Arabia will send female athletes to the Olympic Games for the first time, the International Olympic Committee said, ending a ban by the kingdom where women aren’t allowed to drive. Wodjan Ali Seraj Abdulrahim Shahrkhani will compete in judo at the London Games and Sarah Attar will run the 800 meters. The athletes, who […]

     
  • Saudi Arabia Weighs Annual Budget to Boost Clean Energy
     

    An annual budget for renewables would differ from the feed- in tariffs that Germany, Spain, Italy, France and Britain offered to spur solar and wind power in their nations. Germany was first to introduce the feed-in tariff in 2004 and became the world’s biggest market for solar because of the subsidy, which is paid for […]

     
  • Saudi Arabia wins oil battle against Iran
     

    It seems that the first round in the series of the ferocious battles between Iran and Saudi Arabia, the two giant oil-exporting countries, was settled in favor of the latter. The Kingdom continued to produce oil regardless of the Iranian threats warning the Kingdom against filling the shortage in oil supplies that might result from […]

     
  • Showing Pragmatism, Egypt’s Morsi Looks to Saudi
     

    The first official foreign visit of any newly elected president represents a significant symbolic statement. Knowing this, new leaders choose their first visit very carefully, often selecting a country that is either a major strategic ally or an important trade partner. Nonetheless, the Egyptian government’s announcement that President Mohammed Morsi’s first foreign visit will take […]

     
  • Underground in Arabia
     

    Born and raised in Dhahran, I thought I had seen most of the natural wonders of the Eastern kingdom from the towering dunes of the Rub’ Al Khali to the pristine reefs of the Gulf, so it was a true surprise to read the manuscript for John Pint’s Underground in Arabia. I had visited the […]

     
  • Saudi Aramco to invest in new energy ventures
     

    Saudi Aramco has launched an investment arm to buy into companies that have developed technologies of strategic importance to Saudi Arabia and speed their deployment in the kingdom, the state-run energy group said. Saudi Aramco Energy Ventures LLC (SAEV) plans to invest in start-up and high-growth ventures offering new technologies to the upstream and downstream […]

     

MUST-READS

  • Saudi Arabia’s Muvi Cinemas Adds Four Imax Locations

    Muvi Cinemas, the largest exhibitor in Saudi Arabia, has struck a deal with Imax Corp to install four IMAX with Laser systems in its cinemas two in capital city Riyadh; one system to Jeddah’s Mall of Arabia; and the first IMAX system to Dhahran. Three of the new locations are scheduled to open by the end of 2024, with the last in 2025.

  • Imax, Muvi Cinemas Sign Four-Theater Deal in Saudi Arabia

    Imax and muvi Cinemas, the major Saudi Arabia exhibitor, have signed a four-theater deal. The agreement will see muvi Cinemas open two Imax theaters with laser systems in Riyadh, another in Jeddah’s Mall of Arabia and a fourth system will open in Dhahran. All four locations are scheduled to open by 2025. Imax already has 10 theater screens in Saudi Arabia, with another 22 to open through separate deals with major exhibitors like Vox Cinemas, a major Middle Eastern movie theater chain, and AMC Cinemas.

  • Saudi Arabia investing $180 billion to develop green economy, says minister

    Saudi Minister of Economy and Planning Faisal Al-Ibrahim said that Saudi Arabia plays a pivotal role in achieving global climate-related goals, with more than 80 initiatives and investments exceeding $180 billion to develop the country's green economy, in addition to establishing its position as a leader in renewable energy.

  • PIF strengthens renewable energy localization in Saudi Arabia with three new joint ventures

    PIF has today announced the signing of three new agreements to localize in Saudi Arabia the manufacturing and assembly of equipment and components needed for solar and wind power. These agreements have been entered into by the Renewable Energy Localization Company (RELC) – a fully owned PIF company. They are in line with the Saudi Ministry of Energy’s drive to localize production of renewable energy components.

  • IMF revises Saudi GDP growth down on oil cuts

    The International Monetary Fund on Tuesday revised downwards Saudi Arabia's economic growth by nearly one percentage point, mainly due to oil production cuts. The revision was the biggest among major economies and dragged down the rest of the Middle East and North Africa region, which is projected to grow 2.2% this year, a downward revision of half a percentage point from three months ago, IMF projections in its World Economic Outlook showed.

  • Saudi Arabia updates requirements for construction of residential buildings

    The updated specifications included a number of provisions related to facilitating various types of construction work for the beneficiaries. These provisions aimed to preserve safety of buildings and protect them from risks, in addition to providing the best standards in construction work such as increasing the proportion of built area in residential buildings and villas, and buildings for commercial, administrative and residential purposes. It also aims to reduce setback, which is the minimum open space required around any building or structure, in residential villas.

  • Nine killed in Oman Shi’ite mosque shooting, including three attackers

    Nine people were killed, including three attackers, and more than two dozen others were injured in an assault on a Shi'ite Muslim mosque in Oman late on Monday, law enforcement said, in a rare security breach in the oil producing Gulf state. Four Pakistanis , an Indian and a police officer were among those killed in the gun attack, according to Pakistani, Indian and Omani officials. The Oman police said 28 people of various nationalities were wounded, including security personnel.

  • Global Growth Steady Amid Slowing Disinflation and Rising Policy Uncertainty

    Our global growth projections are unchanged at 3.2 percent this year and slightly higher at 3.3 percent for next year, but there have been notable developments beneath the surface since the April World Economic Outlook. Growth in major advanced economies is becoming more aligned as output gaps are closing. The United States shows increasing signs of cooling, especially in the labor market, after a strong 2023. The euro area, meanwhile, is poised to pick up after a nearly flat performance last year.

  • Al-Hilal SFC named Saudi Arabia’s strongest football club brand as nation bolsters financial commitment to the sport

    Al-Hilal SFC is Saudi Arabia’s strongest football club brand with a brand strength index (BSI) score of 74.6, and an equivalent AA+ rating, according to new data from Brand Finance. Al-Hilal's strategic investments, including the signings of Neymar, Ruben Neves, and Milinković-Savić, have solidified the club’s dominance in the Saudi Pro League and reinforced its status as a top football brand in the region.

  • IMF projects Saudi economy to grow 1.7% in 2024

    The International Monetary Fund (IMF) trimmed its forecast for Saudi economic growth to 1.7% for 2024, compared to its former 2.6% estimate issued last April.  In its Global Economic Outlook report issued today, July 16, the fund indicated that slashing its Saudi economic growth expectations by 0.9% for the current year primarily reflects the extension of oil production cuts. It also expected the Saudi economy to advance by 4.7% in 2025, compared to its previous projection issued in April of 6%, marking a 1.3% downgrade.