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Rising Coronavirus Cases, Lockdowns Globally Will Hurt Oil Demand More than Previously Thought in 2021, OPEC Says
A global surge in Coronavirus cases and resulting lockdowns in late 2020 will cause oil demand to rebound more slowly in 2021 than previously thought, OPEC said on Wednesday. The surge in Coronavirus cases will hamper efforts by OPEC and its allies to support the market, Reuters reports.
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Road to the G20: B20, T20 Meetings Conclude Ahead of Main G20 Event
SUSTG is covering the events and meetings taking place in the run up to the G20 in November as part of our “Road to the G20” series of posts and featured items. Saudi Arabia just wrapped up the hosting of the B20 business-focused group, as well as the T20 meetings last week. The Business 20 […]
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Road to the G20: Two-Day Virtual B20 Begins Today
SUSTG is covering the events and meetings taking place in the run up to the G20 in November as part of our “Road to the G20” series of posts and featured items. This week, Saudi Arabia will host the B20 business-focused group, as well as the T20 meetings later this week.
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Strict Countermeasures Continue to Pay Off as Saudi Arabia’s Covid Deaths Hit New Lows
Strict rules and regulations in place and an elevated social awareness of the danger of the coronavirus continues to pay dividends in stopping the spread of the virus in Saudi Arabia, data confirms. Saudi Arabia on Friday recorded just 383 new coronavirus cases and 14 deaths, representing some of the lowest figures seen in the Kingdom since […]
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IMF Sees Contraction in 2021 for Middle East Economies, With Oil Prices in $40-$50 Range
The International Monetary Fund (IMF) downgraded its outlook for Middle East and Central Asian economic recovery, predicting a 4.1% contraction for the region as a whole, according to latest data released by the international organization.
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Saudi Aramco in Talks with BlackRock, Others for $10 Billion Pipeline Deal
Saudi Aramco is in talks with U.S.-based global investment management corporation BlackRock and other investors on a planned deal worth over $10 billion to sell a stake in its pipeline business, sources told Reuters, although the deal is still in early stages.
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Saudi Arabia Celebrates 90th National Day
Saudis around the world are celebrating Saudi Arabia’s 90th National day today, the Kingdom’s top national holiday dedicated to the history of the Kingdom as a unified state.
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King Salman Issues Rare Royal Decree Firing Tourism Officials over Corruption Allegations – SPA
Saudi Arabia’s King Salman has issued a rare royal decree firing a number of officials for legal violations and alleged corruption at tourism projects, including the Red Sea Project and Al-Ula, state news agency SPA reported.
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Saudi Arabia’s King Salman Arrives in NEOM for Vacation, Recovery Period
Saudi Arabia’s King Salman bin Abdulaziz traveled to NEOM in the Kingdom’s northwest on Wednesday for a period of rest and relaxation, according to state news agency SPA and Reuters.
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Saudi Arabia’s Schools, Universities Eye August 30th for Restart of Educational Programs
Saudi Arabia is beginning to plan to reopen its schools and universities with a target date of August 30th, according to reports. The Kingdom closed schools and universities on March 9 after the Coronavirus pandemic was detected in Saudi Arabia and countries worldwide began to shutter to stop the spread of the deadly disease.
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MUST-READS
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IRGC Newspaper Demands Nuclear Bomb
While some reformist media outlets warn Pezeshkian that the present conflict with Israel may evolve into a military confrontation between Iran and the United States (and a prolonged Israeli and U.S. bombing campaign against Iran similar to the U.S. bombings of Iraq throughout the 1990s) the IRGC’s main mouthpiece, Javan, urges Iran to change its nuclear doctrine, which to judge by the article quoting American political scientist the late Professor Kenneth Waltz saying “Peace-lovers ought to love the nukes!,” may indicate nuclear breakout.
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Solomon Islands agrees visa exemption for Saudis
At the outset of the meeting, Prince Faisal conveyed the greetings and appreciation of Custodian of the Two Holy Mosques King Salman and Crown Prince and Prime Minister Mohammed bin Salman, wishing the government and people of the Solomon Islands continued stability and prosperity. In turn, the prime minister of the Solomon Islands offered his greetings and appreciation to King Salman and the Crown Prince, wishing the government and people of the Kingdom steady progress and prosperity.
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Saudi Arabia intensifies its efforts to provide aid to Gaza
Since the conflict erupted on Oct. 7 last year, Saudi Arabia has directly donated $185 million in humanitarian aid to Palestine through the Saudi aid agency KSrelief, Foreign Minister Prince Faisal bin Farhan told the UN General Assembly. Prince Faisal also noted in his speech on Sept. 28 that Saudi Arabia is working with different UN agencies to raise a total of $106 billion for reconstruction and humanitarian aid.
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Saudi FM, Ukrainian Counterpart Discuss Developments of Ukrainian-Russian Crisis
Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah received on Sunday a phone call from Ukraine’s Minister of Foreign Affairs, Andrii Sybiha. Prince Faisal congratulated his Ukrainian counterpart on the occasion of assuming his post, wishing him success in carrying out his duties. The two sides also reviewed bilateral relations and the latest developments of the Ukrainian-Russian crisis. They also discussed issues of common interest.
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AI is powering Saudi Arabia’s next wave of economic growth: Video
Saudi Arabia is betting big on AI to power its post-oil future, with the technology set to inject over $135 billion into the economy by 2030.
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Saudi Arabia’s e-commerce sees 9.4 per cent increase
Saudi Arabia's e-commerce sector is experiencing growth, with 39,769 new businesses registered in the third quarter of this year, reflecting a 9.4 per cent increase compared to last year. According to the latest data from the ministry of commerce, Riyadh topped the list with 16,274 registrations, followed by Mecca at 10,023 and the Eastern Province with 6,328. The regions of Medina and Qasim reported 1,897 and 1,302 registrations, respectively.
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Aramco Digital bets on partnerships to build Saudi Arabia’s AI ecosystem
Aramco Digital has also signed several Memorandums of Understanding (MoU) at the Global AI Summit held in Riyadh recently. It inked a deal with Cerebras Systems and FuriosaAI to explore collaboration in the supercomputing and AI domains and also partnered with South Korea's Rebellions to deploy Rebellions Neural Processing Unit chips in Aramco's data centers. In addition, Aramco Digital has signed an MoU with SambaNova Systems to accelerate AI capabilities, innovation and adoption across the country. It also announced the deployment of an AI supercomputer powered by NVIDIA GPUs, one of the region's first systems of its kind.
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Riyadh Air to fix Saudi’s ‘unacceptable’ lack of connectivity
Speaking at Routes World 2024, CEO Tony Douglas described the current lack of non-stop flights from Riyadh to many major cities as “unacceptable”. While Saudi Arabia’s current national carrier, Saudia, will primarily focus on connecting Jeddah with regional and some international destinations, Riyadh Air will provide more direct links between the capital, Riyadh, and mega-cities around the world. One of Riyadh Air’s key targets is to boost connections between Saudi Arabia and Asia, a region with booming economies and increasing travel demand. By offering new direct routes to capitals such as Tokyo, Seoul, and Singapore, the airline hopes to position Riyadh as a major hub for business and tourism.
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Saudi Arabia’s KSrelief continues volunteer surgery program
Saudi aid agency KSrelief has continued its voluntary medical work around the globe, the Saudi Press Agency reported. Medical services were provided for scores of patients at the Kidney Dialysis Center in Al-Ghaydah, Al-Mahrah Governorate, Yemen. During September, 126 patients were served. Among them, 54 underwent 446 scheduled dialysis sessions and six emergency sessions, while 75 patients received medical examinations and consultations at the clinic.
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Hezbollah supports ceasefire efforts in Lebanon, deputy leader says
Hezbollah's deputy leader said in comments broadcast on Tuesday that the group backs efforts to reach a ceasefire in Lebanon, and for the first time omitted any mention of a Gaza truce deal as a pre-condition to halting the group's attacks on Israel. Naim Qassem's remarks were shown on television after Israeli forces began ground operations in the southwest of Lebanon, expanding incursions into a new zone.
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