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7 Major Changes to the Kingdom of Saudi Arabia that Happened This Weekend and What They Mean
- April 24,2017
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- Lucien Zeigler
Over the weekend, Saudi Arabia’s King Salman announced a series of major changes to key leadership positions, a new “national security center” for Saudi Arabia that is affiliated with the Royal Court, and more. Here’s what is different now for Saudi Arabia and what those changes mean for the Kingdom, U.S.-Saudi relations and Saudi Arabia’s […]
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U.S. Secretary of Defense Jim Mattis Arrives in Saudi Arabia; First Top Trump Administration Official to Visit Kingdom
- April 18,2017
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- SUSTG Team
U.S defense Jim Mattis arrived in Saudi Arabia today, his first stop on a tour through the Middle East that will “focus on the fight against Islamic State and articulating President Donald Trump’s policy toward Syria,” Reuters reports. وزير الدفاع الأمريكي #جيم_ماتيس يصل #الرياض في أول زيارة لل #السعودية منذ توليه مهامه pic.twitter.com/Bp8RiYRlQp — U.S. […]
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Saudi Arabia Looks to Overhaul Billions in Government Projects, Report Says
- April 17,2017
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- SUSTG Team
Saudi Arabia’s government is ordering its ministries and agencies to review billions of dollars’ worth of unfinished infrastructure and economic development projects “with a view to shelving or restructuring them,” a report in Reuters said, citing government sources. According to the report, Riyadh’s Bureau of Capital and Operational Spending Rationalization, set up last year to make […]
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Saudi Finance Minister Mohammed Al-Jadaan: No Income Tax for Saudi Citizens, No Company Profit Taxes
- April 10,2017
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- SUSTG Team
Saudi citizens would not pay taxes on income and Saudi companies would not see their profits taxed with economic reforms being introduced in the Kingdom, Saudi Arabia’s finance minister Dr. Mohammed Al-Jadaan said on Sunday, Reuters reports. Reuters reports that Al-Jadaan sought in a statement carried by state news agency SPA to “allay concern” that […]
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Saudi Arabia Praises Trump Airstrike Punishment of Syria Chemical Attack
- April 7,2017
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- SUSTG Team
Saudi Arabia said on Friday it “fully supports” U.S. strikes on military targets in Syria, saying it was a “courageous decision” by President Donald Trump in response to the use of chemical weapons against civilians. The United States had fired nearly 60 Tomahawk missiles at a military airfield in Syria, the first direct military action […]
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Moody’s Says Saudi Fiscal Position is Strong, Eyes Oil Dependency as Key Credit Challenge
- March 31,2017
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- SUSTG Team
Bond credit rating agency Moody’s Investors Service said Saudi Arabia’s fiscal position remains strong at the A1 rating level, but said that reducing the Kingdom’s high oil dependency is the key credit challenge the country faces. Moody’s said that while the government has announced ambitious and comprehensive reform plans with its Vision 2030 and National Transformation Plan, […]
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London Parliament Attacker Traveled to Saudi Arabia Three Times, was ‘Not on Security Services’ Radar’
- March 27,2017
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- SUSTG Team
The man who killed four people outside Britain’s Parliament building was in Saudi Arabia three times and taught English there, the Saudi embassy in the UK said in a statement released Friday. Khalid Masood taught English in Saudi Arabia from November 2005 to November 2006 and again from April 2008 to April 2009. The embassy […]
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Reports: Trump Administration Bans Laptops In-Flight for Saudi-US Flights
- March 21,2017
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- SUSTG Team
Lengthy flights from Saudi Arabia to the United States will now seem longer as the Trump Administration bans non-American carriers from allowing passengers to carry laptops in-flight. New TSA rules on flights originating from Riyadh and Jeddah state that laptops must be kept in checked baggage. The new rule “had been under consideration since the […]
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Saudi King Salman Returns Home from Asia Tour, Deputy Crown Prince Mohammed Departs United States
- March 20,2017
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- SUSTG Team
Saudi Arabia’s King Salman returned home from a month-long trip to several Asian nations this weekend as Deputy Crown Prince and Minister of Defense Mohammed bin Salman, left the United States. King Salman arrived in Riyadh on Saturday after a successful visit to China, where the Kingdom signed up to $65 billion in trade deals […]
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Saudi Aramco Selects D.C.-Based FTI Consulting as Media Advisor for IPO, Report Says
- March 14,2017
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- SUSTG Team
Saudi Aramco has chosen Washington, D.C.-based FTI Consulting as global media adviser for what is expected to be the world’s largest initial public share offer, industry sources told Reuters. FTI Consulting will join already-tapped financial houses to assist with the listing, including Moelis & Co., Evercore, JPMorgan Chase & Co and Morgan Stanley. FTI “will support Aramco’s communications […]
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MUST-READS
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Iran SanctionsEurope Is Set to Needle Trump With Iran Trade Promotion Plan
As envisaged by the EU, the special purpose vehicle would accept payments from companies that want to trade with Iran, either by receiving waivers for oil imports or permissible trade in goods like food and medicine.
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EconomyGulf Arab economies likely to grow more slowly through 2020: Reuters poll
Gross domestic product in Saudi Arabia, the largest Gulf Arab economy and the world’s largest oil exporter, will grow 2.1 percent in 2019 and 2.2 percent in 2020, the poll of 22 economists projected. Three months ago, the forecasts were for growth of 2.5 percent in 2019 and 3.0 percent in 2020.
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China in the RegionChina Offers Iran $3 Billion Oil-Field Deal as Europe Halts Iranian Crude Purchases
China’s state-run energy giant is making a new approach to clinch a $3 billion deal for more development of an Iranian oil field, seeking to take advantage of waivers allowed under U.S. sanctions as two European nations have ended crude purchases, according to people familiar with the matter.
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QatarU.S. wants Qatar to challenge Russian gas in Europe, U.S. official says
The United States wants Qatar, the world’s top liquefied natural gas supplier, to challenge Russia’s gas dominance in Europe, a U.S. administration official said on Monday.
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EU-IranDid Iran plot four attacks in Europe? The Dutch government thinks so.
The European Union imposed sanctions on Iran’s intelligence ministry and two Iranian nationals on Tuesday as the Dutch government accused Iran of likely involvement in two assassination plots in the Netherlands.
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MigrationThe Swiftly Closing Borders of Europe
In a wood-paneled courtroom in this small town in the French Alps, a local judge dealt a hefty setback last week to the European Union’s treasured principle of open borders, one that has underpinned the bloc. And to do it, she fell back on a law that dates back to one of the darkest periods in European history.
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QatarQatar Petroleum to invest $20 billion in U.S. in major expansion
As part of its more than $20 billion investment push in the U.S. QP is looking “at gas and oil, conventional and non-conventional,” Kaabi said.
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Iran SanctionsIran urges EU to press Washington on Airbus deliveries: ISNA
To upgrade its aging fleet, Iran Air ordered 200 passenger aircraft - 100 from Airbus, 80 from Boeing and 20 from Franco-Italian turboprop maker ATR - after a 2015 nuclear deal was reached between Iran and six major powers.
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Iran SanctionsEU Sees Effort to Sidestep Iran Sanctions Ready by End of Year
“I would expect this instrument to be established in the coming weeks, so before the end of the year, as a way to protect and promote legitimate business with Iran,” Mogherini told reporters in Brussels after a meeting of foreign affairs ministers. “Work is advancing well.”
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Sahel AidSaudi Arabia announces 100 million euros aid to Sahel nations
The other countries making up the Sahel group are Burkina Faso, Chad, Mali and Niger.
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