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  • Goldman Sachs, Citigroup cut China’s 2024 growth forecast to 4.7%

    Goldman Sachs and Citigroup have lowered their full-year projections for China's economic growth to 4.7%, after the world's second-largest economy's industrial output slowed to a five-month low in August. Weak economic activity in August has ramped up attention on China's slow economic recovery and highlighted the need for further stimulus measures to shore up demand. The faltering growth has prompted global brokerages to scale back their 2024 projections to below government's target of around 5%.

  • Analysis: Saudi’s NEOM Dream Deferred: Low Funds, High Risk And China-US Strategic Rivalry

    In April this year, Saudi Arabia revised its target for The Line – a unique linear city inside NEOM which has received global attention for its avant-garde architecture and a revolutionary concept of carbon-neutral urban living. The kingdom announced a massive scaling-down in the size of the metropolis from 105 to 1.5 miles along with a decrease in likely inhabitants to 300,000 from original target of 1.5 million.

  • China prioritizes Saudi Arabia in overall diplomacy, particularly in Middle East – Chinese premier

    China puts the development of relations with Saudi Arabia as a priority in its overall diplomacy, especially in its Middle East diplomacy, Chinese Premier Li Qiang said here on Wednesday. He called on both sides to further expand bilateral trade, deepen cooperation in traditional areas such as oil and gas, petrochemicals and infrastructure, explore collaboration in emerging fields like new energy, information and communication, and the digital and green economies, while encouraging their respective companies to invest in each other's countries and working together to maintain global industrial and supply chain stability.

  • Saudi crude oil supply to China set to rise to 46 mln bbls in Oct, sources say

    Saudi Arabia's crude oil supply to China is set to rise to 46 million barrels in October, trade sources said on Thursday, after the world's top oil exporter slashed prices for Asia, boosting demand. China's top refiners Sinopec (600028.SS), opens new tab and PetroChina (601857.SS), opens new tab sought more crude for loading in October while demand from private refiners Rongsheng Petrochemical and Hengli Petrochemical held steady, they said.

  • China’s Li, Saudi crown prince discuss cooperation in Riyadh meeting

    Chinese Premier Li Qiang and Saudi Crown Prince Mohammed Bin Salman discussed cooperation in several sectors including energy, investment and trade in a meeting in Riyadh on Wednesday, the Saudi state news agency SPA reported. Earlier, Li had urged Beijing and the Gulf Cooperation Council (GCC), which includes Saudi Arabia and the United Arab Emirates, to accelerate free trade negotiations. Li made his remarks in a meeting in Riyadh with GCC Secretary General Jasem al-Budaiwi, Chinese state news agency Xinhua said.

  • Oil hasn’t been this cheap for years. You can thank China

    Oil futures were trading below $70 a barrel on Wednesday, the lowest levels they’ve seen since 2022. One of the factors hitting prices is the wrong kind of OPEC cut: The cartel said in its monthly oil report Tuesday that it is now forecasting global oil demand to increase by just 2 million barrels per day this year, down from the 2.1 million barrels it mentioned last month.

  • Saudi Arabia claims qualifying win over China at Asia World Cup

    Australia endured another disappointing evening in Asia’s World Cup qualifying on Tuesday as Graham Arnold’s side were held to a 0-0 draw by hosts Indonesia while Saudi Arabia claimed a late 2-1 win over China. Hassan Kadish’s 90th minute header earned victory for the 10-man Saudis, who moved onto four points from their opening two games in Group C of the third phase of qualifying

  • Saudi players arrive in China ahead of World Cup qualifier

    The Saudi national team arrived in the Chinese city of Dalian on Friday ahead of their World Cup qualifier there next week. The Green Falcons will face China on Tuesday night at the Dalian Suoyuwan Football Stadium, in the second game of the third round of the Asian qualifiers for the 2026 World Cup.

  • Saudi Industry Minister Visits China to Explore Investments, Cooperation

    Minister of Industry and Mineral Resources Bandar bin Ibrahim AlKhorayef has commenced an official visit to the People's Republic of China. The visit aims to explore opportunities in the fields of automation and technology solutions, in addition to attracting quality investments to strategic industrial sectors in the Kingdom of Saudi Arabia, including the automotive, technology, and artificial intelligence sectors.

  • Saudi Arabia expands industrial ties with China and Singapore to drive automotive technology localization

    Key stops in China, including Guangzhou and Hong Kong, will involve discussions with major players such as GAC Group, General Lithium, and Huawei. The delegation will also engage with Hong Kong’s top industrial leaders and visit Hutchison Ports, Cyberport, and Johnson Electric. In Singapore, the delegation will meet with key government figures, including the Deputy Prime Minister and the Minister of Trade and Industry, and explore opportunities at Tuas Port, the world's largest automated port. Meetings with A*STAR and the Singapore Manufacturing Federation will further highlight Saudi Arabia’s commitment to integrating advanced technology and automation in its industrial sectors.