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Saudi Arabia Aims for over 1000% Increase in Entertainment Sector Employment this Year as Massive Investment Planned
- February 22,2018
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- SUSTG Team
Saudi Arabia is betting big on the entertainment sector to boost job creation and provide for a more vibrant society with a whopping $64 billion planned to spend in the next decade, according to the head of the General Entertainment Authority Ahmed Al-Khatib. Al-Khatib said that the investment and development is already underway, and that the […]
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Russian, Chinese Interests ‘Eager’ to Invest in Saudi Aramco IPO as Cooperation Heats Up
- February 14,2018
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- SUSTG Team
The head of the Russian Direct Investment Fund (RDIF) said in Riyadh today there is “significant interest” to invest in the forthcoming Aramco IPO from Russia and from China, according to reports. Several banks and other groups in Russia are interested in investing in shares of Aramco, according to Bloomberg, which reported comments from Kirill Dmitriev, chief […]
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Saudi Embassy Spokeswoman: ‘The Kingdom is not Easternizing or Westernizing, it’s Modernizing’
- February 6,2018
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- SUSTG Team
The first spokeswoman for the Royal Embassy of Saudi Arabia, Fatimah Baeshen, said in an interview that the Kingdom is not sacrificing culture or values with its Vision 2030 economic and social reform program and that the program has “something for everyone” in Saudi Arabia. The well-spoken Baeshen, who was appointed by Saudi Arabia’s Ambassador to the […]
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Saudi Arabia’s King Salman Orders $2b ‘Deposit’ to Yemen to Shore Up Currency
- January 18,2018
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- SUSTG Team
Saudi Arabia’s King Salman ordered a $2 billion transfer to the Yemeni central bank, according to reports, as the Kingdom looks to shore up the economy of its war-torn southern neighbor. The Saudi Ministry of Culture and Information (MoCI) said in a statement that the money is meant “to address the deteriorating economic situation” in Yemen. “All […]
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U.S. to Ramp Up Crude Oil Production by 10% in 2018
- January 4,2018
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- SUSTG Team
The United States is poised to ramp up crude oil production by 10% in 2018 to about 11 million barrels per day, research firm Rystad Energy has said, which would make the U.S. the world’s largest producer. The expected surge in shale oil output “should allow the United States to dethrone Russia and Saudi Arabia as […]
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Two Top Officials in Crackdown Sweep Return to Public Eye
- January 2,2018
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- SUSTG Team
Two top officials detained in last year’s crackdown on corruption in Saudi Arabia have returned to the public eye following settlement payments, according to reports. Prince Miteb bin Abdullah, former head of the Saudi national guard and son of the late King Abdullah, was photographed alongside Crown Prince Mohammed bin Salman at a horse race […]
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‘Largest Ever’ Budgeted Expenditure for Saudi Arabia in 2018 as Kingdom Looks to Propel Growth
- December 20,2017
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- SUSTG Team
Government officials unveiled Saudi Arabia’s largest budgeted expenditure ever as the Kingdom looks to propel economic growth following two years of reduced spending. Compared to previous years, the budget is expansionary. Saudi Arabia will spend SR88 billion ($23.5 billion) more in 2018 compared with 2017. The announcement was made at a press conference at which Finance Minister Mohammed […]
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Nearly $20b in Stimulus for Saudi Economy in 2018
- December 14,2017
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- SUSTG Team
Saudi Arabia has unveiled a stimulus package to begin next year with money to support housing construction as well as fee waivers for small businesses. Saudi Arabia’s King Salman issued a royal decree approving 72 billion riyals ($19.2 billion) worth of measures to stimulate growth in the private sector next year (2018), and 200 billion […]
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Westinghouse in Talks with Other U.S. Companies to Bid for Saudi Nuclear Opportunities, Reuters Reports
- November 21,2017
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- SUSTG Team
An exclusive Reuters report reveals that Westinghouse is in talks with other U.S-based companies to form a consortium to bid in a multi-billion-dollar tender for two nuclear power reactors in Saudi Arabia, citing three industry sources. If the consortium forms and bids, it would have stiff international competition in countries like South Korea, France, and Russia, who […]
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UK Government Agrees to $2b Loan Guarantee For Saudi Aramco
- November 9,2017
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- SUSTG Team
The U.K. government agreed to a $2 billion loan guarantee for Saudi Aramco as competition to host the likely largest in history IPO heats up, according to Bloomberg. “The unusually large export credit guarantee, designed to finance the purchase of British goods, will be seen by many as an attempt to help woo the IPO to the […]
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MUST-READS
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Shake up in SaudiCommentary: Saudi Arrests Signal Consolidation of Power
The crackdown also essentially completes the centralization of the Kingdom’s tripartite defense and security apparatus, at least in terms of oversight.
- CSIS - Arrests in Saudi Arabia: Causes and Implications
- Washington Post - What the royal purge means for Saudi Arabia — and its oil
- TSC - Political Upheaval in Saudi Arabia
- Bloomberg - What Message Is the Saudi Crackdown Sending?
- NPR - Saudi Arabia's Crown Prince Appears To Be Shifting How Power Works In The Kingdom
- Politico - What Just Happened In Saudi Arabia
- FT - Saudi Arabia’s crown prince plays for high stakes
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"Bridges" Saudi ProgramHow a rapper’s radio interview revealed a Saudi soft power campaign
The cultural exchange program is called “Bridges,” and its goal is to bring a number of Saudi young professionals — from poets to the country’s first female lawyer — to the West and set up talks, performances and media appearances.
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EgyptEgypt to finalise nuclear power plant contracts before year end
According to UAE state news agency, WAM, Egypt signed an agreement in 2015 for Russia to finance the construction and operation of the nuclear energy plant, with a loan worth $25bn.
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Power PassportThe world‘s most powerful passports: Singapore ranks number one, Germany number two
Singapore’s is now the world’s most powerful passport, according to Passport Index, a ranking compiled by global financial advisory firm Arton Capital. Singapore was previously tied with Germany for the number-one spot.
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AfghanistanRussia accused of supplying Taliban as power shifts create strange bedfellows
Afghan officials have called on Moscow to stop supporting the Taliban, as the militant group steps up attacks across the country, allegedly with the help of Russian weapons. The plea is a sign of frustration with foreign powers, which are muscling in to fill the space left behind by the US troop drawdown and often hedging their bets on the conflict by supporting several factions – including the Taliban.
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Renewable EnergyKite Wind Power Could Help Power Saudi Arabia
“Wind turbines on the Earth’s surface suffer from the very stubborn problem of intermittent wind supply,” said Udaya Gunturu, a researcher with the King Abdullah University of Science and Technology, who is one of several researchers investigating the potential of using kite wind turbines to provide clean energy in the Middle East.
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Renewable EnergyWind turbines suspended high in the sky have potential as an alternative power source for Saudi Arabia
The notion of tethered wind turbines that generate electricity from abundant and reliable high-altitude winds seems futuristic. Now, KAUST research led by Georgiy Stenchikov has identified the most favorable areas for high-altitude wind-energy systems in the Middle East.
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GE and SECGE, SEC in $141m contract for Riyadh Power Plant 12
GE Power has signed a multi-year service agreement with Saudi Electricity Company (SEC) to provide comprehensive maintenance, parts and repairs services for eight GE 7F.05 gas turbines at Riyadh Power Plant 12 (PP12). The $141 million contract will span a period of nine years.
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Russia in the RegionPutin Is Filling the Middle East Power Vacuum
The Israelis and Turks, the Egyptians and Jordanians -- they’re all beating a path to the Kremlin in the hope that Vladimir Putin, the new master of the Middle East, can secure their interests and fix their problems.
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Iran in the RegionTehran Seeks to Consolidate Power in Iraq in 2018
With fewer and fewer Iraqi cities under IS control, Iran has some clear objectives in Iraq in the immediate future. At minimum, Tehran wants Iraq to be run by a bloc of Shia political parties after the May 2018 Iraqi general elections, and it wants those Shia parties to work together to form the government.
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