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Recent stories from sustg
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Saudi Arabia Celebrates 90th National Day
- September 23,2020
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- SUSTG Team
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
- August 21,2020
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- SUSTG Team
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
- August 13,2020
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- SUSTG Team
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
- August 6,2020
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- SUSTG Team
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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Report: Saudi Arabia’s Government Revenue in 2Q 2020 Down by 49% Year-on-Year, but Diversification Push Continues Apace
- July 28,2020
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- SUSTG Team
The twin crises of the Coronavirus and Saudi-led efforts to stabilize the price of oil in the second quarter of this year lead to a sharp decline in the Kingdom’s government revenues, Bloomberg reports. Saudi Arabia’s government revenue dropped by 49% in the second quarter from the same period last year, according to Bloomberg, as the […]
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For Global Oil Demand, ‘The Worst Seems to be Over’
- July 21,2020
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- SUSTG Team
According to latest OPEC forecasts, “the worst seems to be over with respect to global oil demand” as expectations of a rebound for the second half of this year and a positive forecast for 2021 brighten outlooks, a recent report from Riyadh-based Jadwa Investment says.
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U.S. Corporation Air Products and Chemicals, NEOM, and ACWA Power Sign Accord for $5b Renewable Energy-Powered Ammonia Plant
- July 8,2020
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- SUSTG Team
U.S. corporation Air Products and Chemicals signed an accord with Saudi-based ACWA Power International and the kingdom’s planned futuristic city of NEOM to develop a $5 billion hydrogen-based ammonia plant powered by renewable energy, according to reports.
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KAUST Studies How Saudi Arabia’s Red Sea’s Coral Reefs Help Protect the Kingdom’s Coastline
- July 2,2020
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- SUSTG Team
Modeling done by Saudi Arabia’s King Abdullah University for Science and Technology (KAUST) reveals the important role of offshore reefs in the Red Sea in protecting the Kingdom’s coastal zones and highlights the need to conserve the region’s coral reefs.
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Easing of Lockdown in Saudi Arabia Beginning to Show in Economic Data, Jadwa Report says
- July 1,2020
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- SUSTG Team
The partial easing of lockdown restrictions in May was reflected in some economic indicators during the month, Jadwa Investment reports in its latest economic chartbook for that month.
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For the First Time Since January, Kingdom’s Net Foreign Assets Rise
- June 29,2020
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- SUSTG Team
Saudi Arabia’s net foreign assets rose in May for the firs time since January, Bloomberg reports, a reversal of three months of declines.
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MUST-READS
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China VirusUS advises against travel to China; virus declared emergency
The U.S. advised against all travel to China on Friday after the World Health Organization declared the outbreak of a new virus that has spread to more than a dozen countries a global emergency. The number of cases spiked more than tenfold in a week, including the highest death toll in a 24-hour period reported Friday.
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Saudi-ChinaChina oil imports from top supplier Saudi Arabia rise 47% in 2019: customs
The big annual boost in Saudi shipments followed a new marketing strategy by state-run Aramco, which signed at least two new supply pacts with private refiners in China that came into the market from late 2018. Previously, Saudi Aramco had only dealt with China’s state refiners in long-term contracts.
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China VirusFed chair sees China virus as possible risk to world economy
Speaking at a news conference, Powell said the signing of a preliminary U.S.-China trade deal earlier this month, the resolution of Brexit and continuing low interest rates in the United States and abroad had suggested that the world economy would start to expand more quickly after being held back by trade conflicts. That scenario is now complicated by the emergence of the virus.
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China VirusChina vows to beat ‘devil’ virus as countries rush to evacuate citizens
From France to Japan, governments were organising evacuations, while Hong Kong - scene of anti-China unrest for months - planned to suspend rail and ferry links with the mainland.
- Washington Post - New coronavirus cases in China surpass SARS epidemic as infections grow abroad
- CNBC - First Middle East cases of coronavirus confirmed in the UAE
- WSJ - British Airways Suspends China Flights as Coronavirus Spreads
- CNN - Airlines around the world are suspending flights to China as the coronavirus spreads
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Arms ProducersChina now 2nd largest arms producer
In its annual report, SIPRI said it had “identified information from 2015–17 on the value of arms sales by major Chinese arms companies,” and looked at four companies that cover three sectors of conventional arms production: aerospace, electronics and land systems, “for which credible financial information is available.”
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CoronavirusChina sure of slaying ‘devil’ virus, Hong Kong to cut links; death toll passes 100
President Xi Jinping said on Tuesday China was sure of defeating a “devil” coronavirus that has killed 106 people, spread across the world and rattled financial markets.
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TadawulSaudi Stock Market leads Middle East Markets Lower as China Virus Fears Mount
Middle East stocks slipped, with Saudi Arabia hardest hit on Monday, mirroring drops in oil prices and global shares on concerns about the impact of the coronavirus outbreak in China.
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Global Oil MarketsSaudi Arabia, UAE caution oil market against gloom over China virus
“Such extreme pessimism occurred back in 2003 during the SARS outbreak, though it did not cause a significant reduction in oil demand,” the minister said in a statement. Fellow Gulf OPEC oil producer United Arab Emirates echoed the Saudi minister’s comments.
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U.S.-ChinaChina-U.S. Deal Sets Up Brazil and Saudis Among Likely Losers
“The temptation for China will be to hit the targets on higher imports from the U.S. by switching purchases from elsewhere,” they wrote. “That’s especially true for imports of energy and agricultural products, which are much the same no matter where they come from.”
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CoalHere are the proposed coal power plants China is bankrolling around the world
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