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Recent stories from sustg
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U.S. Officials Hold First Direct Meeting with Iran-Backed Houthis in Bid to End War – Report
- March 4,2021
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- SUSTG Team
Senior U.S. officials have held a first direct meeting with officials from the Iran-backed Houthi organization that controls Yemen’s capital, Reuters reports, citing two sources familiar with the matter.
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BofA Revises Upward 2021 Brent Oil Price by $10 a Barrel – Report
- February 23,2021
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- SUSTG Team
Bank of America (BofA) Global Research has hiked its forecast for Brent crude oil prices for this year, citing tighter supplies due to the Texas freeze and OPEC+ output curbs and unmatched global monetary stimulus, Reuters reports, citing a research note from the bank.
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Saudi Research and Marketing Group Hires Two Goldman Bankers as Execs, Looks to Expand
- February 10,2021
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- SUSTG Team
Saudi media powerhouse Saudi Research & Marketing Group (SRMG) hired two bankers from Goldman Sachs Group Inc. in the Gulf in a bid to to bolster its regional and global presence, according to a report in Bloomberg.
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Saudi International Kicks Off with English golfer David Horsey with a Day One Lead
- February 4,2021
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- SUSTG Team
This week’s Saudi International kicked off today at the Royal Greens Golf and Country Club in King Abdullah Economic City, Saudi Arabia, playing host to an impressive field of star Tour pros.
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Future Investment Initiative Conference Opens with Impressive Virtual Platform for Distance Participation, Audience
- January 27,2021
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- SUSTG Team
Saudi Arabia’s annual flagship investment conference, the Future Investment Initiative, began today with both in-person and remote participation from speakers and audience on an impressive digital platform built to expand engagement in the conference around the world.
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Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan Voices Optimism with U.S.-Saudi Relations under Biden Administration
- January 22,2021
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- SUSTG Team
Saudi Arabia’s foreign minister has voiced optimism that relations between Riyadh and Washington will be “excellent” under new U.S. President Joe Biden, Al-Arabiya TV channel cited him as saying on Thursday. Appointments made by Biden show “understanding of the common issues” by the new U.S. administration, Prince Faisal bin Farhan added.
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Saudi Arabia’s Crown Prince Says Kingdom Offering $6 Trillion in Investment Opportunities Over Next Decade
- January 14,2021
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman said the Kingdom offers investment opportunities worth $6 trillion over the next decade, with new projects representing half of this value, he said in a speech at the World Economic Forum on Wednesday.
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After Summit Agreement, Saudi Arabia’s Crown Prince Extends Saudi Hospitality to Visiting Qatari Emir
- January 6,2021
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- SUSTG Team
This week, Saudi Arabia and other GCC nations buried the hatchet with neighboring Qatar after a diplomatic standoff that lasted over three years. The two sides, working toward a fresh start in recent weeks, finalized the end of the feud at Tuesday’s 42nd GCC Summit in Saudi Arabia, reuniting to once again reinvigorate trade between […]
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Trump Administration Approves Nearly $300 Million in Bomb Sales to Saudi Arabia
- December 30,2020
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- SUSTG Team
The Trump Administration’s State Department has approved a possible the sale of nearly $300 million in GBU-39 Small Diameter Bomb I (SDB I) Munitions and related equipment to Saudi Arabia, the latest large U.S.-Saudi security deal to be approved in recent years. The principal contractor will be U.S.-based Boeing, St. Louis, MO.
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Saudi Arabia Joins Dozens of Nations in Blocking International Travel as Mutant Coronavirus Strain Alarms Authorities
- December 21,2020
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- SUSTG Team
Saudi Arabia suspended late on Sunday all international commercial flights for a renewable week except for the foreign flights already in the kingdom which will be allowed to leave, according to reports. The variant, detected in England, is up to 70 percent more transmissible than earlier versions, officials said. People in southeast England, where the […]
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MUST-READS
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Shipping U.S. Oil to China Costs Half as Much as the Cargo
The cost of hauling oil from the U.S. to China has skyrocketed to nearly $10 a barrel -- almost half of what the American benchmark crude is currently valued at -- as the price war spurs a rush for ships.
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China bars most foreigners to curb imported virus cases
The foreign ministry announced late Thursday that even foreign citizens with residence permits will be prevented from entering starting on Saturday. All visa-free transit policies will also be temporarily suspended.
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China reports no new coronavirus local infections for the first time
As of Thursday afternoon, the virus had infected more than 218,800 people worldwide, according to Johns Hopkins University, which is tracking cases reported by the World Health Organization and additional sources. That's more than double the total two weeks ago.
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China’s industrial output, retail sales contract
Industrial production for January and February shrank 13.5%, the first contraction in about 30 years. This was markedly worse than a Bloomberg poll of analysts which forecasted a 3% drop on-year.
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Coronavirus deaths and infections globally surpass China
The number of deaths from the novel coronavirus in other countries has surpassed those inside China for the first time, according to an interactive map tracking the outbreak of the virus from Johns Hopkins University.
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Saudi cuts March oil volumes to China by at least 500,000 bpd
Saudi Arabia, the world’s top oil exporter, is reducing crude supplies to China in March by at least 500,000 barrels per day (bpd) due to slower refinery demand following the coronavirus outbreak, two sources with knowledge of the matter said. The scale of the reduction underlines the drop in consumption caused by the outbreak in the world’s top oil importer. China normally takes 1.8 million bpd to 2 million bpd of Saudi crude, the sources said.
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New coronavirus cases rise in Italy, Korea and Iran but fall in China
Italy, South Korea and Iran reported sharp rises in coronavirus infections on Monday, triggering concern from the World Health Organization (WHO), but China relaxed some curbs on movement, including in Beijing, as the rate of new infections there eased.
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Coronavirus on G20 agenda as China reports uptick in cases
As international authorities tried to stop the outbreak in China from becoming a global pandemic, finance leaders from the Group of 20 major economies meeting in Saudi Arabia over the weekend were set to discuss risks to the global economy.
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China VirusSaudi Arabia to supply vital equipment to fight COVID-19 in China
The King Salman Humanitarian Aid and Relief Centre (KSrelief) has been tasked with providing assistance in an initiative coordinated with the Embassy of People's Republic of China in the kingdom. Saudi Arabia will supply 1,159 medical devices including ultrasound machines, non-invasive ventilators, defibrillators, patient monitors, infusion pumps, injection pumps and continuous renal replacement therapy. Medical protective masks and isolation suits will also be provided.
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Commentary: OPEC Underestimates China Virus’s Impact On Oil Demand
A comparison of the latest forecasts from the world’s three big oil agencies — the International Energy Agency, the U.S. Energy Information Administration and the Organization of Petroleum Exporting Countries — highlights the huge uncertainty that exists over the virus’s repercussions for oil demand.
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