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Recent stories from sustg

  • 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 […]

     
  • Jadwa September 2012 Chartbook – Construction Indicators
     

    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 […]

     
  • Mitt Romney on Foreign and Middle East Policy
     

    This [US election] year is different. There is relatively little attention to issues outside America’s borders – only four percent of Americans “consider foreign affairs much of an issue in this year’s campaign” according to Foreign Policy.com.  The sluggish economy – taxes, unemployment, deficits, thorny domestic issues and “personality” questions dominate the campaigns. With the […]

     

MUST-READS

  • Israel-Palestine
    Israeli troops kill Palestinian during West Bank

    Israeli troops shot and killed a Palestinian on Wednesday during a raid on a West Bank refugee camp, Palestinian medics and the Israeli military said.

  • Petrochemicals
    Saudi Aramco, Sumitomo Chemical invite banks to back JV plant expansion

    PetroRabigh's existing plant can produce an annual 18 million tonnes of refined products and 2.4 million tonnes of petrochemical products. The new facility, known as Rabigh II, is to be built as an expansion of PetroRabigh's existing petrochemical plant, increasing output and introducing higher-margin products. The project, located on Saudi Arabia's Red Sea coast, received a formal go-ahead from the parent firms in 2012; PetroRabigh has said previously it is due to come online in 2016, despite a string of maintenance problems at the existing facility.

  • Lebanon
    Hezbollah prepares to fight IS in Lebanon

    Many Lebanese are still unable to differentiate between the extremist groups fighting in Syria. "They are all 'Daesh,'" says a customer at Mohammed’s barber shop, using the Arabic acronym for IS. "They slaughter people and want to make people look like them." The customer gives Mohammed a sarcastic smile, adding, "If they ruled our friend's work, they [would] want people to grow beards and hair." Everyone at the salon laughed, quite furiously.

  • Lebanon
    Islamic State Is Coming, Graffiti Warns Lebanese, as the Band Plays On – Bloomberg

    The mood of mockery belied the nervousness among many Lebanese that they may be Islamic State’s next target. The country is part of the Levant, where the Sunni militant group, previously called the Islamic State in Iraq and the Levant, seeks to extend the caliphate it has established in parts of Iraq and Syria.

  • US-Israel
    U.S. mulls more steps in response to Israel’s land grab in West Bank

    The Obama administration is considering taking further action regarding Israel’s expropriation of 1,000 acres of West Bank land this week, on top of the condemnation Washington has already issued. “Maybe our reaction will find expression in other ways,” a senior U.S. official told Haaretz, but declined to give details.

  • Solar Energy
    Saudi Arabia Solar Jumps On Diesel-Killer Bandwagon

    The country faces a multiplicity of problems stemming from its reliance on diesel generators for air conditioning among other uses. According to SASIA, almost 25 percent of the Saudi grid is powered by diesel and the Kingdom spends $1 billion and up on imported diesel. Many of those generators are located in remote areas, so transporting diesel generator fuel also adds to the country’s fossil load. On top of that, the country’s grid operators are way behind when it comes to connecting remote areas (distributed solar, much?), which is gumming up local economies.

  • Saudi GDP
    How Big Is the Saudi Economy? Does the World Bank Know?

    The Bank (2012) now estimates the total size of the Saudi economy at $1,462 billion, yet as recently as 2010—if the data table posted to the left is accurate—it had assessed it instead at a mere $593 billion. As of 2013, both the IMF and the CIA provide figures that are closer to the World Bank’s earlier estimation than to its current figure ($937 billion US and $928 billion respectively).

  • NCB IPO
    Saudi Arabia’s Largest Bank Said to Plan IPO Next Quarter

    The IPO, which could raise about 16 billion riyals ($4.3 billion) according to Riyad Capital, would make it the world’s largest such sale this year, surpassing Japan Display Inc. (6740)’s $3.1 billion offering in March. Chinese e-commerce giant Alibaba Group Holding Ltd. is expected to raise as much as $20 billion from its IPO later this month, a deal that has the potential to be the largest offering in U.S. history.

  • US-Israel
    U.S. condemns Israeli expropriation of West Bank land

    The United States levied unusually harsh criticism at Israel on Tuesday, denouncing plans to seize a large tract of West Bank land for Israeli homes. The State Department called on Israel to reverse its announced plan to appropriate nearly 1,000 acres in the occupied West Bank. “We are deeply concerned about the declaration of a large area as ‘state land’ to be used for expanded settlement building,” State Department spokeswoman Jen Psaki said in a statement. “We call on the Government of Israel to reverse this decision.”

  • Pakistan
    Taliban In Pakistan Derail World Polio Eradication

    Today the militant group continues to threaten to kill not only vaccinators but also parents who get their children immunized. That threat has had a chilling effect on anti-polio efforts nationwide.