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Saudi Arabia Taps Foreign Reserves to Weather Coronavirus Crisis
- April 29,2020
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- SUSTG Team
Saudi Arabia’s central bank foreign reserves fell in March at their fastest rate in at least 20 years and to their lowest since 2011, Reuters reports, as the Kingdom draws down on reserves to weather the Coronavirus crisis and keep citizens and residents safe.
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Saudi Arabia’s PIF Eyes Bargain Stakes in Blue Chip Companies Likely to Rebound – Report
- April 16,2020
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- SUSTG Team
A “shopping list is being readied” for potential investments by Saudi Arabia’s Public Investment Fund in healthcare, technology, and logistics companies around the world as the coronavirus pandemic creates potential opportunities for bargain investments, according to a Financial Times report.
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Saudi Arabia to Spend $4 Billion in Fight Against Coronavirus
- April 8,2020
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- SUSTG Team
Saudi Arabia will increase its spending to fight the spread of the coronavirus in the Kingdom, earmarking an additional 7 billion riyals (USD 1.8 billion) yesterday on top of the 8 billion riyals (USD 2.1 billion) earmarked at the beginning of the virus outbreak, according to Asharq Alawsat.
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Saudi Arabia Approves Government Asset Privatization on Local Stock Market
- April 1,2020
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- SUSTG Team
Saudi Arabia’s government approved the listing of government assets planned for privatization on its stock market, according to reports.
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G20 Finance Chiefs, Central Bankers Hold Digital Meeting for Second Time in a Week to Discuss Coronavirus Response
- March 31,2020
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- SUSTG Team
Finance ministers and central bankers from the Group of 20 major economies met by videoconference on Tuesday, the second such meeting in a week, to discuss a global response to the spread of the coronavirus the its impact on economy, Reuters reports.
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Saudi Arabia Enacts Curfew as Kingdom Seeks to Best COVID-19
- March 23,2020
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- SUSTG Team
Saudi Arabia has enacted a curfew to stop the spread of COVID-19 within the Kingdom’s borders, prohibiting citizens and residents from being outside the home at night for three weeks starting Monday.
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Saudi Arabia Widens Travel Ban; Coronavirus Cases Increase
- March 12,2020
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- SUSTG Team
Saudi Arabia has extended flight bans to the European Union and other countries as the Kingdom announced 24 new cases overnight, bringing its total to 45.
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Saudi Arabia launches Y20 summit as a Platform Connecting Youths with G20 leaders
- March 2,2020
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- SUSTG Team
Saudi Arabia launched the Y20 (Youth 20) summit on Sunday evening, a platform which seeks to bring youth voices to international decision-makers.
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Report: Saudi Arabia Pushing for a ‘Major, Short-Term Oil Production Cut’
- February 3,2020
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- SUSTG Team
OPEC and its allies are “considering cutting their oil output by a further 500,000 barrels per day (bpd)” with eyes on mitigating the impact on oil demand from the coronavirus, Reuters and the WSJ report.
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Oil Demand Growth Forecasted to Trend Higher in 2020
- January 21,2020
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- SUSTG Team
Oil demand growth is set to trend higher this year compared with 2019, a recent report from Jadwa Investment finds, citing OPEC forecasts and other global economic factors.
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MUST-READS
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What next for Saudi Arabia’s emerging film sector?
Al Hashem, who has opened 154 Vox Cinema screens in Saudi Arabia to date, commented on the huge audience appetite for both international and local content. The market, he said, is mostly influenced by international studio titles, although he noted that distributors must respect government decisions on certain titles. (Eternals, for example, is not allowed to screen in Saudi Arabia cinemas.) Yet local titles, such as the recent Masameer The Movie, which began life as a series of popular YouTube shorts before the cinema ban was lifted, can also do very well.
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Perspective: What is sportswashing? Will it work in Newcastle?
He says PIF is pursuing sports and leisure investments to grow its investment portfolio and diversify the economic interests of the country, which is a major aim of the Saudi government’s Vision 2030 initiative. PIF-backed company LIV Golf Investments invested $200m (SR750.14m) in the Golf Asian Tour shortly after the Newcastle United deal was concluded and PIF itself is close to completing a $370m investment in German e-commerce platform Signa Sports United.
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COP26: Did the Glasgow summit matter for climate change?
"If the success of an international agreement can be measured in its ability to disappoint everyone equally, the Glasgow accord could be seen as a triumph," Hannah Cloke, professor of hydrology at the University of Reading, said in a statement. "From a scientific point of view, we are back in the position where the science is ever clearer but the politics is still worryingly murky."
- NYT - 6 takeaways from the U.N. climate conference.
- CNBC - China and India will have to explain themselves on coal, COP26 president says
- Nature - ‘COP26 hasn’t solved the problem’: scientists react to UN climate deal
- Aljazeera - Infographic: What has your country pledged at COP26?
- Quartz - Five vital lines in the COP26 climate agreement
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Could ‘Eternals’ move the needle in the Mideast by putting a gay character on screen?
Disney, which has declined to comment, is understood to have been unwilling to accommodate requests for different cuts made by various censorship boards in several Middle East nations — something they've been willing to do on past films. It doesn't mean they didn't chop anything out of "Eternals" for the Middle East; it's just that, this time, Disney was willing to make only one version of "Eternals" that would be acceptable across the Arab world, according to sources.
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Hydrogel: A Promising Solution for Water Scarcity in the Middle East?
Over half of Jordan’s water is “non-revenue,” meaning it is lost to leaks or theft. Yet, the state struggles to crack down on water-related corruption. Every year, millions of cubic meters are pumped out of the ground illegally through unlicensed wells. And to satisfy powerful local elites, water-intensive farms continue to operate in unsuitable desert regions, where they draw heavily on underground water.
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‘The Gloves Are Off’: Could Law Firms Abandon UAE for Saudi Arabia?
“The reality is that Saudi leadership clearly wants to deliver on the Vision 2030 programme and to do the other things that the Kingdom wants and needs to do. They need a vibrant professional, service-provider class on the ground, and they’re trying to achieve that. I don’t see that as a threat aimed at Dubai. It’s just the reality of the growth that’s needed in the Kingdom”.
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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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