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Recent stories from sustg
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Latest Data: Improvements in Saudi Arabia’s Labor Market in Line with Pick-up in Overall Economic Activity
- February 3,2021
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- SUSTG Team
Unemployment in Saudi Arabia declined to 14.9 percent in Q3 2020, the latest date for which such data are available, down from 15.4 percent in Q2 2020, a recent report from the Riyadh-based Jadwa Investment finds, citing figures from the official General Authority for Statistics.
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List of World’s Top Golfers Competing at Third Saudi International Grows as Kevin Na Commits
- January 21,2021
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- SUSTG Team
The field of competitors for next month’s Saudi International powered by Softbank Investment Advisers is growing as another top golfer in the world has joined some of the sports biggest names confirmed to compete in Saudi Arabia. Five-time PGA Tour winner Kevin Na, who won the PGA Tour’s Sony Open in Hawaii on Sunday, is […]
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$5 Billion Hydrogen Project JV Planned for NEOM Hires Financial Advisor – Report
- January 13,2021
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- SUSTG Team
A three-organization joint venture hydrogen project between Air Products, NEOM, and ACWA Power has hired financial firm Lazard to advise on a planned $5 billion hydrogen project in the NEOM high-tech business zone in Saudi Arabia, according to a Reuters report, citing sources.
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Gulf Rift Ends after 42 Months; Qatari Emir Heads to GCC Summit as Skies, Borders Re-Open
- January 5,2021
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- SUSTG Team
Saudi Arabia and other GCC nations effectively ended their 42 month-long rift with neighboring Qatar on Monday, signaling a new era in Gulf political and economic relations and bringing to a close a long dispute begun in June 2017.
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Saudi Arabia’s PIF Makes Two Moves in Security, Defense Space
- December 29,2020
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) and its defense subsidiary SAMI announced separate moves in the defense and security space this week, according to reports. The PIF said Tuesday it had established a company to develop and expand the private security sector in the Kingdom, creating the National Security Services Co. (SAFE). SAFE will focus on […]
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Saudi Arabia’s Tourism Minister: Kingdom Needs to Inject $200 Billion into Industry — Report
- December 22,2020
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- SUSTG Team
Saudi Arabia’s tourism minister Ahmed Al-Khateeb dismissed naysayers of the Kingdom’s ambitious tourism plans, telling Arab News‘ Frank Kane in an exclusive interview that the Kingdom’s target of obtaining 100 million visits by 2030 is not overambitious with big investments in the industry.
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Houston-Based Baker Hughes, Saudi Aramco to Develop Oil, Gas Products Using Nonmetallic Resources
- December 9,2020
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- SUSTG Team
Saudi Aramco and Houston-based Baker Hughes have announced the formation of Novel, a 50/50 Joint Venture (JV) to develop and commercialize a broad range of non-metallic products for multiple applications in the energy sector, the companies said in a press release.
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Saudi Economy More Resilient than Expected in Q2, Q3 2020; Recovery Possible Next Year – Jadwa Investment
- November 27,2020
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- SUSTG Team
Saudi Arabia’s economy proved to be more resilient than expectations in the face of dual crises of the Coronavirus pandemic and a drop in oil prices in 2020, Jadwa Investment writes in an economic update.
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Road to the G20: Saudi Arabia Set to Host Main Leaders’ Summit this Weekend
- November 19,2020
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- SUSTG Team
Saudi Arabia is set to host the G20 Leaders Summit this weekend, the main event involving the heads of the 20 nations chaired virtually by the Kingdom due to the Coronavirus pandemic.
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Saudi Economy Contracts 4.2% in 3Q, Improves from 2Q; Fitch Affirms Credit Rating at ‘A’
- November 10,2020
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- SUSTG Team
Saudi Arabia’s economy shrank 4.2% in the third quarter from a year earlier, government data showed on Tuesday, but the contraction was smaller than the second quarter when the economy was reeling from coronavirus-linked lockdowns, Reuters reports. The economy expanded by 1.2% on a seasonally-adjusted quarter-on-quarter basis in the third quarter from a contraction of 4.9% […]
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MUST-READS
- Where Does Gold Come From in Africa? Suspected Smuggling to Dubai Rings Alarms – Bloomberg
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A lucrative investment? Saudis pour millions into camels during Riyadh festival
Camels are the quickest way to wealth and profit, says Nasser AlAjmi, a Kuwaiti camel owner attending the event, adding that it is better than investing in real estate or the stock market.
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Is Iran’s new drone swarm Shahed-136 tech a gamechanger? – analysis
Over the last several days, images of a new Iranian drone launcher have appeared online and in Iranian media. The drones, dubbed Shahed 136, were combined with missiles in a drill that Iran says took place last week. Iran has called these types of drones a “suicide drone” or kamikaze drone. This means that they fly directly into a target and self-destruct.
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Do They Know It’s Christmas Time in Saudi Arabia? Increasingly, Yes
Artificial fir trees have sold out at LuLu Hypermarket here in the capital of a kingdom that until recently enforced a ban on public expressions of any religion besides Islam. Now, families can be found sifting through colored ornaments and decorative lights at LuLu beside a pyramid of Italian panettone fruitcakes and Cadbury chocolate yule logs.
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Why is the UAE shortening its working week?
The United Arab Emirates (UAE) is stepping into 2022 with a new 4.5-day working week. The adjustment will see the UAE align more closely with Western standards, with weekends now comprising Friday afternoons, Saturdays and Sundays, instead of just the whole of a Friday to Saturday (which is common in the majority of Muslim countries).
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Gulf-Asia Energy and Trade Ties: A challenge to the west?
The Gulf states are now major exporters of downstream products to all the countries of Asia. These include refined products from oil, fertilizers as well as basic and advanced chemicals. In return, the Gulf countries are importing not just consumer goods, but also technical products and services from Asia
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Opinion: Are Arab militias losing their usefulness for Iran?
“The overall picture is that Iran’s expansion peaked in 2018 and has since entered a new phase, in which Tehran has not suffered any strategic military setbacks but is hitting a wall. Iran’s biggest fundamental problem is that a majority of its allies … frequently succeed in armed confrontations. Yet they are subsequently incapable of ensuring political and economic stability,” said Middle East scholar Guido Steinberg.
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Who is Sgt. Maj. of the Army Michael A. Grinston?
What his official biography won’t tell you is that he has seen the very worst of combat through six combat deployments, earning him five Bronze stars — two with valor devices that are still difficult for him to talk about, that he would give back in a second in return for the soldiers he’s lost. It doesn’t tell you that most of the time, you’ll find him wearing the 1st Infantry Division combat patch in remembrance of those soldiers he lost on his first deployment to Iraq.
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Libya’s elections are on December 24. But should they be postponed?
The 2011 Arab Uprisings, which began in neighboring Tunisia, led to the ousting of longtime Libyan dictator Muammar Gaddafi, plummeting the country into chaos and widespread violence. Since then, Libya, after a NATO intervention in 2011, underwent major civil strife and witnessed polarizing divisions between the east and west of the country that rendered it a de facto failed state.
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Can’t go to Mecca? Saudi Arabia brings hajj to the metaverse with ‘VR Black Stone’ experience
The "Virtual Black Stone Initiative" allows Muslims to "experience the Hajr Aswad virtually prior to the pilgrimage to Makkah [Mecca]", according to the official Haramain Facebook account.
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