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Recent stories from sustg

  • How Gulf Countries Are Splurging at Home
     

    Asa Fitch, writing in the Wall Street Journal, details the extent to which oil dollars are fueling economic growth “at home” for GCC countries: Booming oil prices are flooding Arab countries with money, but where the lion’s share of that wealth would once have been pumped into the world’s financial markets, much of it is […]

     
  • Island in the Gulf – A Film of Juraid Island
     

    One of the great joys of living in Saudi Arabia has always been the natural environment itself – the dunes, the jebals and especially the Gulf with its beaches, reefs and islands. For those lucky enough to visit Juraid Island, fifteen miles offshore from Jubail, the experience has always been unforgettable. A pristine island shaped […]

     
  • Foreign Military Sales Keep Production Lines Hot
     

    “Partnership building is part of one of the largest benefits that we see,” Hunt said. “It’s building and maintaining friendships, it’s about building allies. United States Central Command, or CENTCOM, is obviously a very busy place for the United States now. The more that we can help those countries not only defend, but operate amongst […]

     
  • SEC unveils SR452b projects
     

    The Saudi Electricity Company (SEC) has allocated SR452 billion to implement energy projects until the year 2021 according to SEC Chairman of the Board of Directors Dr. Saleh Bin Hussein Al-Awaji. These projects will provide services consistent with international standards, including building up an adequate power at a peak time about 10 percent of combined capacity. The […]

     
  • US and Saudi team up for renewable energy projects
     

    The United States and Saudi Arabia are prepared to sign a number of deals related to the establishment of investment and service projects depending on renewable energy resources, Arab News reported. US Assistant Secretary of Commerce for Manufacturing and Services, Nicole Lamb, said the US would support the Kingdom on its drive to develop clean […]

     
  • The arms spending map of the world
     

    How much do countries spend on their militaries? This data from the Stockholm International Peace research Institute shows the world in arms spending – both in dollars over time and as a percentage of GDP.

     
  • Major Banks Expanding in Saudi Arabia
     

    “We’d be crazy to limit ourselves to a handful of bankers when we can see oil prices are going to sustain the Saudi economy for the foreseeable future,” Rory Gilbert, the head of Middle East and North Africa at London-based Barclays’s wealth management unit, said in an interview this week in Dubai. “In four or […]

     
  • A Nuclear Iran: CNN
     

    What do we really know about the Iranian nuclear threat?  Iran says it wants the right to have its peaceful nuclear program formally recognized.  But from the outside, Iran has long given the impression it has something to hide.  And fear that Iran may soon have the capability to build a nuclear weapon, has spurred […]

     
  • Saudi ‘tops in mobile users’
     

    Saudi Arabia has the highest proportion of mobile phone users in the world with 188 per cent, followed by Vietnam and Oman in the second and third places respectively, according to a recent study. The study which was conducted by the United Nations Conference on Trade and Development (UNCTAD) indicated that this percentage is by far […]

     
  • The Menu of Options in the Iranian Nuclear Talks
     

    For the first time in more than a year and a half, negotiators from Iran and the so-called P5+1 countries – the five permanent members of the United Nations Security Council, the U.S., Russia, China, France and England, plus Germany – will sit down with their Iranian counterparts this Friday in Istanbul to talk about […]

     

MUST-READS

  • Saudi Arabia’s Al Akaria secures $192.48 million deal with Diriyah Gate for metro excavation

    Saudi Real Estate Co. (Al Akaria) has announced the signing of a contract with Diriyah Gate Company Limited (DGCL) for the implementation of “Excavation for Metro-Box Central, Metro-Box South, and Metro-Box East and Related Works,” through one of its subsidiaries, Saudi Real Estate Infrastructure Company (Binyah), at a value of SAR722 million ($192.48 million).

  • Saudi Arabia’s startups raise $198 million in March 2024

    In a landmark month for the region’s startup ecosystem, Saudi Arabia emerged as the hot spot of fundraising activities, with total investments soaring to $198 million in 25 transactions. This surge, the highest in the region, underscores the growing vibrancy and investor confidence in Saudi Arabia’s startup landscape.

  • Saudi to Dubai in an hour? Hyperloop chief sees GCC transport link as ‘possible’

    Andres de Leon, chief executive of Hyperloop Transportation Technologies (Hyper-loopTT), revealed that “conversations have been had” with countries in the GCC – including the UAE and Saudi Arabia – to bring the mass transport system to the region. Plans to bring a hyperloop prototype to Northern Italy - between Venice and Padua – through a joint venture between the Italian government and private investors reignited interest in the project. That system – which aims to be the world’s first working passenger system and will propel people between cities in pods more than twice as fast as high-speed rail net-works and far more sustainably – aims to be up and running between 2028 and 2030, de Leon said

  • Gaza aid convoy strike: What we know

    Seven people working for the food aid charity World Central Kitchen (WCK) have been killed in an Israeli strike in Gaza. Three of them were British and Foreign Secretary David Cameron has called on Israel to "urgently explain how this happened". BBC Verify has been studying images of the aftermath of the attack, shared on social media, to try to piece together what we know about the incident.

  • Beyond Chaos and Conflict, the Middle East is Also a Place of Beauty.

    In all the analysis and portrayals of conflict and strife in the Middle East, we shouldn’t forget that the region hosts a rich history and a vibrant cultural and intellectual life. Media organisations must take responsibility and present the region in its totality.

  • Many Iranian options to retaliate against Israel, but all carry risk

    Iran faces a dilemma following an Israeli attack on its embassy in Syria: how to retaliate without sparking a wider conflict that Middle East analysts said Tehran doesn't appear to want. Monday's strike, which killed two Iranian generals and five military advisers at Iran's embassy compound in Damascus, comes as Israel accelerates a long-running campaign against Iran and the armed groups it backs. Iranian Supreme Leader Ayatollah Ali Khamenei has vowed revenge.

  • Why are more Middle East investors seeking US property deals?

    “Distressed opportunities that are starting to arise not only because some people need to sell to reimburse their investors but also for refinancing,” Fadi Moussalli, executive director and head of capital markets and international capital coverage of Mena at JLL told The National. “Today, if someone who has a loan that is maturing and is unable to secure decent debt terms … [he/she] has no choice but to sell, banks are no longer lending with the same appetite.”

  • Middle East Emerges as Key Region for FDI in Kearney Survey

    Efforts toward economic diversification and reforms to business policies have helped the United Arab Emirates and Saudi Arabia post the biggest jumps in Kearney’s 2024 Foreign Direct Investment Confidence Index. The countries climbed ten spots from 2023, to eighth for the UAE and 14th for Saudi Arabia. Among emerging markets, the two largest Gulf economies ranked second and third, respectively, behind China. Oman also made the emerging market list for the first time, helped by the launch of the Future Fund that will mostly focus on drawing in foreign direct investment.

  • Nato considers expansion of missions in Middle East and North Africa

    Nato allies will this week discuss the possible appointment its first special representative to the southern community as it seeks to strengthen ties with the Middle East, North Africa and Sahel regions, senior Nato diplomats said on Tuesday. Nato's 32 foreign ministers are scheduled to discuss more than 100 recommendations made by a panel of independent experts to bolster relations with the alliance's southern neighbourhood during a two-day meeting in Brussels starting on Wednesday. The report was requested by Secretary General Jens Stoltenberg last year.

  • Top Israeli official Ron Dermer began yelling during a meeting with U.S. officials about Gaza, officials say

    A spokesperson for the National Security Council declined to comment. After the meeting Monday, John Kirby, a spokesperson for the National Security Council, said that “the whole reason to have that meeting was to talk about our concerns over a major ground operation in Rafah and to present viable alternatives for [the Israelis] to be more precise and more targeted.”