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Recent stories from sustg
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Saudi Aramco Energy Ventures Prepares New $500m Fund, Opens Office in China
- January 13,2020
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- SUSTG Team
Saudi Aramco Energy Ventures (SAEV), a unit of the kingdom’s energy company, is preparing to start a new $500 million fund this year after completing $500m in investments, Bloomberg reports.
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Riyadh’s Night Skies Light Up with New Years Fireworks for the First Time
- January 1,2020
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- SUSTG Team
The night sky over Riyadh was illuminated with fireworks and light shows to celebrate the beginning of the new decade last night.
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Unemployment declines in Saudi Arabia, further gains seen in 2020 – Jadwa Investment
- December 18,2019
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- SUSTG Team
Unemployment in Saudi Arabia declined in the 3q 2019 and is likely to continue to improve as a pick-up in the non-oil private sector growth should translate to more jobs, according to a recent report from Jadwa Investment.
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Pensacola Shooting Puts U.S.-Saudi Relations in Spotlight; Trump Speaks with King Salman and Crown Prince
- December 9,2019
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- SUSTG Team
A Saudi soldier in training in the United States opened fire on a naval base in Pensacola, Florida on Friday, killing three and wounding 12. Second Lt. Mohammed Saeed Alshamrani was then killed by a sheriff’s deputy who responded to the attack. The attack shocked Saudis and Americans alike.
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Saudi Economy: Consistent Growth in Non-Oil Activity, Modest Overall Growth Forecasted for 2020 — Jadwa Investment
- November 27,2019
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- SUSTG Team
Jadwa Investment has revised downward its forecast for economic growth in Saudi Arabia this year from 1.6% to 0.2% based on recent data, the Riyadh-based firm said in a recently-released report.
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China’s Imports of Saudi Oil Soar 76% in October as Demand Increases
- November 25,2019
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- SUSTG Team
China’s crude oil imports from Saudi Arabia rose over 75% in October as demand from new refiners was met by the Kingdom, according to Reuters data. The 76.3% rise in October was boosted by demand particularly from from two new integrated refineries, the Hengli Petrochemical Co. in the north, and Zhejiang Petrochemical in the south, Reuters reports. […]
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Aramco Quickly Met Global Demand After Attacks, Saudi Arabia’s King Salman Says in Annual Address
- November 20,2019
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- SUSTG Team
Saudi Arabia’s King Salman said in his annual address to the Shoura Council on Wednesday that the ability of Saudi Aramco to quickly restore oil production capacity after attacks on its facilities in September “had proven the kingdom’s ability to meet global demand during any shortage,” Reuters reports. The King pointed a finger at Iran […]
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Saudi Arabia’s PIF Reportedly Invests $400m in Disruptive Food Startup Founded by Travis Kalanick
- November 8,2019
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- SUSTG Team
Saudi Arabia’s Public Investment Fund has invested $400 million into Uber founder Travis Kalanick’s new company CloudKitchens, according to the Wall Street Journal. CloudKitchens is a food and real estate startup that buys cheap properties across the U.S. and in India, China, the U.K. and elsewhere. “The hope is that their proximity to densely populated areas will make them […]
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Defense Secretary Esper in Riyadh for Surprise Visit; Kushner, Mnuchin to attend Future Investment Initiative
- October 22,2019
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- SUSTG Team
Secretary of Defense Mark Esper arrived Monday in Saudi Arabia for an unannounced visit as the U.S. and Saudi Arabia seek to bolster their joint defense in the face of rising regional tensions. Secretary Esper met with Saudi Arabia’s King Salman in Riyadh, photos show, and Esper said he discussed the deployment of U.S. forces and […]
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Law Firm Pillsbury Analyzes First Cases in Saudi Arabia’s New Bankruptcy Law
- October 11,2019
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- SUSTG Team
Law firm Pillsbury published a research note highlighting the recently passed bankruptcy law in Saudi Arabia that incorporated modern alternatives to liquidating businesses in the Kingdom, using the first cases decided by the Saudi judiciary as case studies. “For several years now, judges in [bankruptcy] courts have been involved in seminars and training workshops to help prepare them to rule […]
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MUST-READS
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COP26: Saudi Arabia′s climate strategy — Greenwashing or genuine transformation?
And with Crown Prince Mohammed Bin Salman stepping into the ring of carbon-neutral competitors in the Middle East, illustrated by his attendance at the COP26 climate summit, push has also come to shove for the whole region, with Saudi Arabia competing with the United Arab Emirates to burnish their climate credentials.
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Saudi Arabia’s Red Sea Film Festival: What Can People Expect?
"I think people should come and see the films and let us know…We are sensitive to the environment but we don’t have any restrictions. We’ll be showing films in their entirety. We will be sensitive to the culture around us but we have curated the films we wanted to. We’re presenting what we wanted to and pushing boundaries in our lineups, including in the Arab selection."
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‘A lot to do’ – Will F1’s Saudi GP venue be ready in time?
The Saudi GP is a deal that will last for a decade, if not longer, using the newly-unveiled temporary circuit before a new purpose-built venue is readied in the coming years. Jeddah’s track is based in the Corniche area on the Red Sea and is 3.837 miles in length, making it the longest street circuit in F1 and the second-longest on the calendar, behind only Spa in Belgium.
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What will the US-Egypt Strategic Dialogue look like? Here’s a preview.
The US-Egypt Strategic Dialogue is one of the longest-standing in the region, established under the Bill Clinton administration in 1998 and held periodically since then, apart from a pause from 2009-2015 that occurred with the start of the Barack Obama administration and the subsequent onset of the 2011 Arab uprisings. Though primarily symbolic, the dialogue serves as an opportunity for senior-level engagement across a broad swath of bilateral priorities.
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Will the ailing Turkish economy bring Erdogan down?
Erdogan is facing growing warning signals that his idiosyncratic approach to running Turkey’s $765bn economy is not working. While economic growth looks good on paper, it has not translated into jobs. Inflation reached almost 20 per cent in September, and the currency is losing value. A decade ago it cost around 1.8 lira to buy a single dollar; today that figure is almost 10.
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A Middle East Quad? Scope for synergies, but divergences over Iran
The four countries can cooperate in areas like maritime security, infrastructure and, given the Abraham Accords, there is space for trilateral economic cooperation between India, the UAE and Israel.
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What does climate change tell us about ancient Saudi Arabia?
Climate change and the threat it poses to all life on Earth is a problem most people would associate with the modern world. But to a team of international archaeologists working in Saudi Arabia alongside the Saudi Heritage Commission, climate is central to understanding the mysteries of half a million years' of human evolution, including mankind's early migration from Africa to the wider world.
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Is India Abandoning Iran for a Middle Eastern Quad, or Merely Signaling China?
The talks initially began as a trilateral U.S.-Israel-UAE meeting on October 13 in Washington that focused on the Abraham Accords and Iran’s nuclear program. Another meeting was held virtually five days later, this time with India participating as a fourth member. Although India’s relations with Tehran have been bogged down by the impact of U.S. sanctions and commercial disputes, involving key projects such as the Chabahar Port railway and Farzad-B gas field, India nevertheless views Iran as an important partner.
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“Jeddah not ready in time?”: Concerns arise over the Saudi Arabian Grand Prix as officials are in a race against time to get the circuit ready for Formula 1
Formula 1 journalist Rosanna Tennant paid a visit to the under-construction circuit recently. Pictures posted on her Instagram story show us that there are still tons of work to do before FP1 on 3rd December.
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Where are the biggest investments in climate tech?
Between 2016 and September 2021, venture capital investment into climate tech companies in the US surpassed $48 billion, according to a new report released today (Oct. 26) by not-for-profit London & Partners and Dealroom.co, a data provider on startups. China was a distant second, with VCs spending $18.6 billion.
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