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Recent stories from sustg

  • Global Markets Drag on TASI
     

    The TASI has dipped over the past month, primarily due to global factors. First quarter results of listed companies point to ongoing strength in the domestic economy, with profits 14.9 percent higher than in the first quarter of 2011. Nonetheless, the TASI is down by 10 percent since the end of March, mirroring falls on […]

     
  • USTR: Saudi Continues to Protect Intellectual Property Rights
     

    The Office of the U.S. Trade Representative on Monday released the 2012 Special 301 Report reviewing the intellectual property protection policies of foreign nations.  Saudi Arabia is not named on the “Watch List” again this year and has not been since a successful Out-of-Cycle Review in 2009 to resolve IP issues in cooperation with the […]

     
  • 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 […]

     

MUST-READS

  • WTA signs multi-year partnership with Saudi PIF

    The Saudi Public Investment Fund (PIF) will become the first-ever naming partner of the WTA's rankings, the two organisations announced on Monday, as part of a multi-year partnership.
    The announcement marks the PIF's latest foray into tennis, after the men's ATP tour also signed a multi-year "strategic partnership" earlier this year.
    "Together, we look forward to sharing the journey of our talented players across the season, as we continue to grow the sport, creating more fans of tennis and inspiring more young people to take up the game," WTA Ventures CEO Marina Storti said in a statement.

  • IBM makes more AI models open source and lands Saudi Arabia deal

    International Business Machines (IBM.N), opens new tab on Tuesday said that it will release a family of artificial intelligence models as open-source software, and that it will help Saudi Arabia train an AI system in Arabic.
    The Armonk, New York-based company has taken a different approach to making money from AI than some of its rivals such as Microsoft (MSFT.O), opens new tab and others that are tightly guarding their AI models and charging for access to them. Similar to Facebook owner Meta Platforms (META.O), opens new tab, IBM is instead providing open access to the models themselves and on Wednesday opened its "Granite" family of AI models for companies to customize.

  • Blinken: Israel ‘may not be willing’ to accept Palestinian statehood for Saudi normalization

    Blinken confirmed in testimony to Congress that the United States is seeking a bilateral agreement with Riyadh that involves normalization with Israel. "We have sought to move forward in negotiating the bilateral US-Saudi aspects of a normalization agreement between Saudi Arabia and Israel. But even if we were to conclude those agreements — and I believe we actually can conclude them relatively quickly, given all the work that's been done — they could not go forward and the overall package could not go forward, absent other things that have to happen for normalization to proceed," the top US diplomat said. Read more: https://www.al-monitor.com/originals/2024/05/blinken-israel-may-not-be-willing-accept-palestinian-statehood-saudi#ixzz8axdXIPGk

  • US says Israel-Saudi normalisation needs Gaza quiet, talks on Palestinian rule

    Forging formal Israeli-Saudi relations as part of an emerging trilateral deal involving Washington would require a calming of the Gaza war and a discussion of prospects for Palestinian governance, the U.S. envoy to Jerusalem said on Tuesday.
    "There's going to have to be some period of quiet, I think, in Gaza, and there's going to have to be a conversation about how do you deal with the question of the future of Palestinian governance," ambassador Jack Lew said.

  • Saudi Arabia’s Future Aviation Forum tallies $19 billion in deals

    Leading the dealmakers was Saudia Group, which owns flag carrier Saudia Airline and low-cost flyadeal, announcing an order with Airbus on Monday for 105 narrow-body aircraft. The deal for an undisclosed price was described as the largest purchase ever from a Saudi airline. Saudia’s Airbus order was a setback for Boeing, which has yet to close a deal being negotiated with the kingdom’s new airline, Riyadh Air.

  • Saudi crown prince reassures nation about king’s health during Cabinet meeting

    Saudi Crown Prince Mohammed bin Salman made reassuring comments about King Salman’s health during a cabinet meeting on Tuesday, Saudi Press Agency reported. The king underwent medical tests at royal clinics at Al-Salam Palace on Sunday after he suffered from a high temperature and joint pain, SPA said. He was diagnosed with lung inflammation and prescribed a course of antibiotics as treatement at the palace in Jeddah.

  • Saudi Stocks Trail Emerging Peers for First Time Since Pandemic

    The Tadawul All Share Index is nearly 6% behind the MSCI Emerging Markets gauge so far this year, the first time it’s trailed in the period since 2020 when tumbling demand battered oil prices. Once again, Saudi shares are tracking a drop in crude, while authorities have reportedly scaled back the futuristic Neom development — a major driver for several sectors in the market in the past few years.

  • Blueprint Foresees Dramatic Expansion of Saudi Aviation Sector

    Sweeping new proposals for Saudi general aviation herald official government sanction that would increase airports, aircraft operators, and MROs for the sector, which includes business aviation. The roadmap—"Saudi Arabia: A New Global Hub for General Aviation"—anticipates tourism growing 2.5 times by 2030 and an overall SAR$365 billion ($97 billion) to be spent on tourism and aviation.

  • Saudi Arabia prepares for Riyadh Metro launch, more infrastructure to ease traffic

    Saudi Arabia is looking forward to the launch of the Riyadh Metro and expanding the infrastructure to facilitate traffic, said Minister of Transport and Logistics Services Saleh Al-Jasser. Speaking at the third edition of the Future Aviation Forum (FAF) 2024, Al-Jasser asserted Saudi Arabia’s keenness to apply the latest technologies for traffic management and legislative arrangements to improve traffic in Riyadh.

  • Saudi Aviation Industry Likely To Create 35,000 New Jobs by 2030

    Saudi Arabia's aviation sector contributed $21 billion to the Kingdom's gross domestic product in 2023 while generating an additional $32.2 billion in tourism receipts, positively impacting other key areas of the economy.

    "This transformation is one that we invite the world to share. We seek private sector partners with expertise to help us achieve our ambition," said Al-Jasser.