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Private-Sector Program ‘Direction’ in Saudi Arabia Boosts Cross-Cultural Understanding, Dialogue
- February 1,2019
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- SUSTG Team
A private-sector program in Saudi Arabia is seeking to enhance relations between the Kingdom and nations around the world through delegations of Saudi youths in order to spread “a culture of moderation and respect for others” in line with the Kingdom’s Vision 2030. The program, called “Direction,” designs, executes and manages supportive programs for Saudi and Arab […]
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Saudi Arabia Sets Up New Company for NEOM Fully Owned by Kingdom’s PIF
- January 29,2019
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- SUSTG Team
Saudi Arabia has established a new company to proceed with the development of NEOM, the planned $500 billion mega-city to be built in the northwest of the Kingdom, according to reports. The company will be owned by the government’s Public Investment Fund, according to a Reuters report, which cited the Saudi Press Agency. The new legal status of […]
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Crown Prince Mohammed bin Salman Launches Project for First Nuclear Plant in Saudi Arabia
- November 6,2018
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- SUSTG Team
Saudi’s crown prince on Monday launched a project to build the first nuclear research reactor in the kingdom, Reuters reports, citing the Saudi Press Agency. The project is one of seven “cutting edge ventures” in the fields of renewable energy, atomic energy, water desalination, genetic medicine and aircraft design that were inaugurated by the crown […]
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Saudi Crown Prince Promises Justice for ‘Heinous Crime’ of Khashoggi Murder, Touts Reform Progress
- October 25,2018
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- SUSTG Team
Crown Prince Mohammed bin Salman took the stage yesterday at the Future Investment Initiative conference in Riyadh, making his first public comments since the murder of Saudi journalist Jamal Khashoggi in Istanbul grabbed the world’s attention. The Crown Prince did not shy away from the topic, and opened with addressing what he and the Saudi […]
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PIF-Backed Red Sea Tourism Company Names High-Powered Advisory Board
- September 17,2018
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) has appointed an international advisory board of business, tourism and environmental figures for its Red Sea tourism development. The announcement follows the selection of a former director of London’s Canary Wharf business zone, John Pagano, as chief executive of the project, which will see resorts developed on 50 islands […]
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The Star-Studded Line-Up of Speakers for October’s Future Investment Initiative (FII)
- September 7,2018
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- SUSTG Team
The Saudi Arabia’s Public Investment Fund (PIF) annual Future Investment Initiative conference has listed an impressive roster of confirmed speakers for the event, taking place on October 23-25 in Riyadh. The second-annual Future Investment Initiative (FII) will be held on October 23-25 in Saudi Arabiaand “serve as a platform to drive expert-led debate, discussion, and partnerships among the […]
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Saudi Foreign Reserves Continue to Rise, Expected to Reach $536b by 2019 — Jadwa Investment
- August 2,2018
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- SUSTG Team
SAMA FX reserves rose by $1.8 billion month-on-month to stand at $506 billion in June, a recently released report by Jadwa Investment said, noting that FX reserves have risen by $10 billion during the year so far. The Riyadh-based investment group expects a continued rise to reach $536 billion by the end of the year. Fahad Alturki, chief […]
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Saudi Crown Prince Mohammed bin Salman in Top 10 World’s Most Powerful People
- May 22,2018
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman has landed on the Forbes list of the world’s most powerful people for the first time, ranking the powerful young leader within the top 10. “There are 17 new names on the list this year, including Mohammed Bin Salman Al Saud (#8), the Crown Prince of Saudi Arabia,” Forbes writes. “His […]
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Poll: Strong Support for Crown Prince Mohammed bin Salman among Young Arabs
- May 8,2018
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- SUSTG Team
A new poll tracking young Arabs’ attitudes throughout the Middle East finds they express a high level of confidence in Crown Prince Mohammed bin Salman and his leadership, with 63 percent supporting his appointment, 64 percent viewing him as a strong leader, and 59 percent saying Mohammed bin Salman will lead Saudi Arabia in the […]
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Saudi Crown Prince Wraps Up U.S. Tour in Houston with Big Gulf Investments Eyed
- April 9,2018
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- SUSTG Team
Crown Prince Mohammed bin Salman wrapped up his unprecedented whirlwind tour of the United States with a stop in Houston to talk investments in the Gulf region. The Crown Prince visited Motiva Enterprises LLC, a wholly-owned downstream oil and gas subsidiary of Saudi Aramco, to witness the signing of MoUs worth between $8 billion to $10 billion with US […]
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MUST-READS
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Analysis: Stakes rise as Iran can fuel ‘several’ atom bombs
Iran has enough highly enriched uranium to build “several” nuclear weapons if it chooses, the United Nations’ top nuclear official is now warning. But diplomatic efforts aimed at again limiting its atomic program seem more unlikely than ever before as Tehran arms Russia in its war on Ukraine and as unrest shakes the Islamic Republic.
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Middle East KFC Operator Climbs in Landmark $1.8 Billion Listing
Americana Restaurants International Plc gained 13% in Abu Dhabi to 2.95 dirhams and rose 6.7% in Riyadh to 2.86 riyals on Monday. Saudi Arabia’s Public Investment Fund and Dubai businessman Mohamed Alabbar had sold 2.5 billion shares in Americana for 2.62 dirhams each, or 2.68 riyals.
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How Saudi Arabia Sees the World: MBS’ Vision of a New Nonaligned Movement
U.S. observers are right that Washington has made decisions irritating to the Saudis. But there is also a lack of understanding inside Washington about how Saudi Arabia formulates its economic and foreign policy. Put simply, Saudi Arabia, under the direction of MBS, is preparing for a global political economy that is markedly different from the one the Biden administration envisions.
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President Biden has “no plans” to meet Saudi crown prince MBS during G20, Jake Sullivan says
President Biden has "no plans" to meet with Saudi Crown Prince Mohammed bin Salman (MBS) during the G20 summit next month, national security adviser Jake Sullivan told CNN's "State of the Union" on Sunday.
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Commentary: Saudi power transition continues as MbS becomes PM
Saudi King Salman bin Abdulaziz Al Saud has appointed Crown Prince Mohammed bin Salman Al Saud (MbS) as prime minister, a post historically held by the ruling monarch. The move, which comes as part of a wider cabinet reshuffle, confirms the growing power of MbS amid the transfer of further responsibilities from the King to his son.
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Why It Matters That MBS Is Prime Minister of Saudi Arabia Now
The U.S. district judge in that case asked the Biden Administration to weigh in on whether MBS should be granted “sovereign immunity”—a concept, dating back to the Treaty of Westphalia in 1648, that, among other things, protects heads of state from being sued or tried in other countries. The Biden administration was given until Oct. 3—this Monday—to reply.
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Saudi king names crown prince MbS as prime minister
Saudi Arabia's King Salman bin Abdulaziz named his son and heir Crown Prince Mohammed bin Salman as the kingdom's prime minister and his second son Prince Khalid as defence minister, a royal decree showed on Tuesday. The reshuffle kept another son, Prince Abdulaziz bin Salman, as energy minister, the aged king said in the royal decree, carried by state news agency SPA. Foreign Minister Prince Faisal bin Farhan Al Saud, Finance Minister Mohammed al-Jadaan and Investment Minister Khalid al-Falih remain in their positions, the decree showed.
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GCC leaders meet King Charles as MbS, MbZ avoid London
Gulf Arab leaders have visited Britain to offer their condolences on Queen Elizabeth’s passing to King Charles III. Qatar’s Emir Sheikh Tamim bin Hamad Al Thani and Bahrain’s King Hamad bin Isa Al Khalifa traveled to London at the head of high-ranking delegations, as did Oman’s Sultan Haitham bin Tareq Al Said. Meanwhile, Kuwait’s crown prince represented the country’s Emir, having assumed most of his duties last year.
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Crown Prince MBS’s Saudi Arabia Is Booming and This Time It Isn’t Only About Oil
But Almajdiah’s chief executive officer, Abdulsalam Almajed says the scramble for the 1-million-riyal ($266,400) homes reflects something else, too: the social and economic shift that’s reshaping the kingdom, accelerated by the crown prince’s overhaul program. “There’s a change in mindset,” said Almajed, who heads family-owned developer, as some Saudis embrace the more open style of living his firm caters to. “Today there’s beautiful creativity in Saudi designs.”
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MbS outlines massive spending on Neom project to cheers, criticism
Saudi Arabia could partner with Egypt to find ways to link Egyptian Red Sea resorts with Neom due to their geographic proximity. Such links could boost the Kingdom’s vision for Neom as a regional business and tourist hub.
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