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Key U.S. Republican Senator Bob Corker Threatens to Hold Arms Sales to Saudi, UAE if Qatar Rift Not Fixed
- June 27,2017
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- SUSTG Team
The Republican chairman of the Senate Foreign Relations Committee, Senator Bob Corker (R-Tennessee) has threatened to withhold arms sales to Saudi Arabia and other Gulf nations until a diplomatic solution is found with neighboring Qatar. The standoff, which has lasted three weeks and has threatened the unity and economic strength of GCC nations, adds uncertainty to […]
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Saudi Begins Extended Eid Al-Fitr Holiday as Massive Celebrations Planned
- June 26,2017
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- SUSTG Team
An extended Eid Al-Fitr holiday began in Saudi Arabia and most other Arab countries on Sunday, marking the end of the holy fasting month of Ramadan. Kuwait, Qatar and the United Arab Emirates will also start the holiday on Sunday, but Oman starts the holiday on Monday, according to reports. The timing of Eid can vary […]
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Crown Prince Mohammed’s Promotion, MSCI Announcement Jolts Saudi Stock Market to Big Gains
- June 22,2017
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- SUSTG Team
Saudi Arabia’s stock market soared for a second straight day following two big storylines that are giving investors confidence: the promotion of Prince Mohammed bin Salman to first-in-line to be King of Saudi Arabia, and news that the Kingdom may be considered for MSCI Emerging Market index inclusion as soon as 2019. The announcement of […]
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Mohammed bin Salman Named Crown Prince, Next-in-Line to King; Prince Mohammed bin Nayef Deposed
- June 21,2017
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- SUSTG Team
King Salman of Saudi Arabia has named his son, Prince Mohammed bin Salman, as crown prince of Saudi Arabia, deposing his cousin Prince Mohammed bin Naif. The move makes Prince Mohammed next-in-line to be king. As Reuters and other news outlets are reporting, the promotion of the new Crown Prince is less surprising than the […]
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‘Epicenter X: Saudi Contemporary Art’ Show Hits U.S. in July to Challenge Perceptions, Share Saudi Culture
- June 16,2017
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- SUSTG Team
A U.S. exhibition featuring the works of roughly 40 Saudi Arabian artists aims to “share their expressions, foster conversations and challenge conceptions of life” in Saudi Arabia, the Associated Press reports. The exhibition, entitled “Epicenter X: Saudi Contemporary Art,” opens July 8 and runs for about three months at the Arab American National Museum in […]
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President Trump, King Salman Speak Amid Qatar Diplomatic Fallout
- June 7,2017
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- SUSTG Team
U.S. President Donald Trump spoke by phone with Saudi Arabia’s King Salman amid a growing crisis between GCC states over allegations that Qatar is funding terrorism and extremist activities. Saudi Arabia, the UAE, Egypt and three other states have cut diplomatic ties with Qatar, threatening a socio-economic crisis for what Saudi Arabia’s leaders only recently […]
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$1.4b in Defense Contracts Approved by State Department as Senate Eyes Debate
- June 6,2017
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- SUSTG Team
The U.S. State Department has approved the potential sale of more than $1.4 billion worth of military training and equipment for Saudi Arabia, the Pentagon said on Monday, the first fraction of a $110 billion arms deal U.S. President Donald Trump agreed to with Saudi Arabia when he visited in May. The announcement by the State […]
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Goldman Sachs Applies to Saudi CMA for Equities Trading License in Saudi Arabia
- June 2,2017
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- SUSTG Team
Goldman Sachs has applied to Saudi Arabia’s capital markets regulator for a license to trade equities in the kingdom, two sources familiar with the move said, in the latest step by Western banks to expand operations in the country, Reuters reports. The bank has been operating in Saudi Arabia since 2009 as an agent and underwriter, […]
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Deputy Crown Prince Mohammed bin Salman in Moscow to Meet with Russian President Vladimir Putin
- May 30,2017
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- SUSTG Team
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman and Russian President Vladimir Putin met today in Moscow as the Kingdom and Russia work together on oil production cuts, Reuters reports. Russia and Saudi Arabia played key roles in a successful global deal which saw oil production curtailed by 1.8 million barrels per day as part of […]
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VAT Draft to Hit General Authority of Zakat and Tax in ‘Weeks’
- May 25,2017
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- SUSTG Team
Saudi Arabia’s General Authority of Zakat and Tax will publish the value-added tax (VAT) draft on its electronic portal within the next two weeks, Reuters reports, citing local media reported. The General Authority for Zakat and Tax announced on Sunday that the implementation of 5% VAT starting January 2018 “will have no exceptions.” This 5% […]
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EU BlacklistAfter Saudi king’s letter, EU states move to block dirty-money list
For the list to be blocked, a majority of 21 states is estimated to be necessary. One EU official said that more than 20 countries, including Britain, France and all the largest members, have already declared their opposition to the listing.
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U.S.-EUIs the U.S. Losing Europe When It Comes to the Middle East?
A regular survey of experts on matters relating to Middle Eastern and North African politics and security.
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Arab-European SummitSaudi Arabia and Kuwait underline support for Palestinian cause at Arab-EU summit
The Palestinian issue is the “first concern” for Arab countries, the Saudi monarch said on Sunday at the opening of the first EU-Arab summit at the Egyptian resort town of Sharm El Sheikh.
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TurkeyTurkey Faces Crucial Vote on EU Accession Before Local Ballot
On Wednesday, a European parliament committee voted to suspend the years-long talks, which have foundered over Ankara’s human rights record and the centering of power in President Recep Tayyip Erdogan’s hands. A final vote in the parliament’s plenum has not been set, but will take place before the March 31 vote in Turkey, according to the Turkish Foreign Ministry.
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Saudi-KuwaitSaudi minister sees deal with Kuwait to resume oil output from Neutral Zone in 2019
Saudi Arabia’s energy minister Khalid al-Falih said on Wednesday the country expected to reach an agreement this year to resume oil output from the Neutral Zone it shares with Kuwait. “We hope in 2019 it will be resolved,” he said, when asked when Saudi Arabia and Kuwait could reach an agreement.
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Saudi-GermanySaudi arms ban continues to divide European partners
The Royal Saudi Air Force is now experiencing a disruption in the service and supply of spare parts, which undermines their contract to deliver another 48 jet fighters, which is worth just under €6 billion.
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Anti-ISIS CampaignTrump threatens to release ISIS fighters if EU doesn’t take them
U.S. President Donald Trump threatened to release 800 ISIS fighters captured in Syria unless European allies agree to accept them and put them on trial.
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EU BlacklistSaudi Arabia Regrets Inclusion in the European Commission’s Proposed Revised List of “high risk“ Countries on Money Laundering and Financing of Terrorism
Al-Jadaan called on the European Commission officials and members of the European Parliament to visit Riyadh and observe the continuous efforts and initiatives taken by the Kingdom at the local, regional and international levels in the fight against terrorism-financing, and money laundering.
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EU BlacklistEU adds Saudi Arabia to dirty-money blacklist, upsets UK, U.S.
The move is part of a crackdown on money laundering after several scandals at EU banks, but it has been criticised by several EU countries, including Britain, that are worried about their economic relations with the listed states, notably Saudi Arabia. The United States has also disapproved.
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Saudi-EUEU adds Saudi Arabia, Panama to dirty-money blacklist
The European Commission added Saudi Arabia, Panama and other jurisdictions to a blacklist of nations that pose a threat to the bloc because of lax controls against terrorism financing and money laundering, the EU executive said on Wednesday.
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