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Recent stories from sustg
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As Saudi Non-Oil Revenue Soars, Uncertainty Looms Over Oil Market
- October 30,2020
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- SUSTG Team
Saudi Arabia saw a significant boost in non-oil revenue in the third quarter of this year, with an increase of 63% year-on-year to SR123 billion ($32.8 billion), new data shows, an encouraging trend for policymakers as the market for oil continues on an uncertain path in the face of a global pandemic and global economic slowdown.
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Images: Architect Jean Nouvel Reveals Design for Sharaan Resort in Al-Ula, Saudi Arabia
- October 28,2020
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- SUSTG Team
French architect Jean Nouvel unveiled his design for Sharaan, a new resort hidden within the rock dwellings of Al-Ula, a cultural oasis in north-west Saudi Arabia.
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Top Names in Golf Commit to Saudi International Tournament in February
- October 27,2020
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- SUSTG Team
Saudi Arabia’s annual golf tournament secured two of the sports top names to compete in February, winning commitments from the world’s top-ranked golfer and the latest major championship winner on Monday to play in the Saudi International. Dustin Johnson, the world’s number one golfer, and Bryson DeChambeau, who won the U.S. Open by six strokes in […]
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Arab News Launches ‘Research and Studies’ Unit to Deliver ‘Thought-Provoking Studies by Experts on Regional Affairs’
- October 13,2020
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- SUSTG Team
Arab News, Saudi Arabia’s leading English-language daily news publication, has announced the establishment of a new Research and Studies Unit (RSU) which will “deliver thought-provoking studies written by a team of acclaimed resident and non-resident experts on a number of regional affairs,” according to a press release from the company.
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U.S. Again Tops Arms Exporters to the Middle East, Saudi Arabia, Report Says
- September 25,2020
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- SUSTG Team
A newly released report by the Center for International Policy finds the U.S. dominated arms and defense exports to the Middle East region between 2015-2019, accounting for nearly half of all deliveries of major weapons systems.
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G20 Trade and Investment Ministers Meet as Kingdom Reportedly Suggests Delay Main Summit until December
- September 22,2020
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- SUSTG Team
Trade and Investment Ministers from the G20 held a meeting today under the Saudi G20 Presidency to strengthen trade and investment policy cooperation towards an inclusive and sustainable economic growth amid the COVID-19 pandemic.
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Saudi Arabia’s Oil Exports to the U.S. Hit 35-Year Lows as Goldman Sees Oil at $65 Next Year
- September 2,2020
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- SUSTG Team
Saudi Arabia’s oil exports to the United States fell nearly 50% year-on-year in August 2020, reaching a 35-year low in oil imported from the Kingdom, according to CNN which cited info from ClipperData.
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Brent Oil Reaches 5 Month High as Saudi Aramco Announces Discovery of Two New Oil and Gas Fields
- August 31,2020
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- SUSTG Team
The price of oil on the UK’s Brent Oil index reached a 5-month high on Monday as supply output cuts continue to push the price of oil higher, according to reports.
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PIF Sets Up New Real Estate Subsidiary to Help Meet Increasing Local Demand for Housing
- August 20,2020
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) said it had set up a new real estate subsidiary, called “Roshn,” to help meet increasing local demand for housing, according to reports.
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Saudi Mega-city NEOM Signs Agreement with US-based Bechtel for Executive Project Management Work
- August 12,2020
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- SUSTG Team
Saudi Arabia’s futuristic mega-city NEOM has awarded a contract to U.S.-based Bechtel for executive project management work on the development of the primary, base infrastructure for NEOM, according to a press release issued by NEOM.
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MUST-READS
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Exclusive-UAE holds talks with Taliban to run Kabul airport – foreign diplomats
The United Arab Emirates has held talks with the Taliban to run Kabul airport, going up against Gulf rival Qatar in a diplomatic tussle for influence with Afghanistan’s new rulers, according to four sources with knowledge of the matter.
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Captagon: How amphetamines fuelled Saudi Arabia’s anger against Lebanon
“The production in Lebanon is in no way comparable to the level and scale of production inside of Syria because you have the participation and the backing of the state in production,” said Rose. “In Lebanon, Hezbollah can operate with a degree of freedom, space and independence to facilitate this trade.”
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Perspective: Why the Gulf States Turned on Lebanon
The traditional Arab and Gulf affection for Lebanon as a cultural, educational, and commercial center, largely based on memories from the 1960s and ‘70s, has long faded. The rising generation of Gulf Arab leaders and citizens have little of the nostalgia for the heyday of Beirut that their parents and grandparents often cherished. To this younger cohort, Lebanon seems like a sinkhole of endless, wasted aid, and investment, likely in the tens of billions in the past decade, and a prime source of regional instability and Iranian mischief-making.
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Most Saudi consumers are open to switching banks, says BCG
Low interest rates, limited products and poor customer service are among the main reasons why customer leave their banks. At the same time, consumers are increasingly impressed with the ease of switching, lauding the speed at which accounts can be opened through online channels, as well as the range of products (loans, savings etc) they can order through their smartphones.
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After years of war, Libya’s Benghazi a chaotic urban sprawl
Over a decade of war in Libya the second city Benghazi has mushroomed to twice its size, creating an unplanned and chaotic urban sprawl. The fighting has displaced countless families, forcing many to build new homes without permits in a jumble of unplanned neighbourhoods that often lack infrastructure, from proper roads to schools or sewerage systems.
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Saudi Modern exhibition explores early architecture, urbanization in Jeddah
The exhibition titled “Saudi Modern” tackles the narrative of architecture and urban development in the coastal city between 1938 and 1962 by contemporary artists and architects. It was launched at the newly renovated iconic Tamer house, owned by one of the families that lived in the old town.
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Kuwait detains 18 suspected of financing Lebanon’s Hezbollah – media
Prosecutors in Kuwait have detained 18 people suspected of financing Lebanon's powerful Shi'ite Muslim group Hezbollah, the newspapers Al-Qabas and Al-Rai reported on Thursday.
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Turkey says saddened by Lebanon-Gulf crisis, calls for diplomatic resolution
Turkey is saddened by a crisis between Lebanon and Gulf states, Foreign Minister Mevlut Cavusoglu said during a visit to Beirut on Tuesday, calling for a resolution to the dispute through dialogue and diplomacy. Lebanon is facing its worst diplomatic crisis yet with Gulf states, spurred by a minister's critical comments about the Saudi-led intervention in Yemen that prompted Riyadh to expel Lebanon's ambassador, recall its own envoy and ban all imports from Lebanon.
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StanChart executes $250 mln ESG-based repo deal with Saudi National Bank
Standard Chartered Bank (STAN.L) said on Monday it has executed a $250 million repurchase agreement transaction (Repo) based on ESG principles with the Saudi National Bank. The transaction is the first in the Middle East, North Africa and Pakistan region, and among the first globally, where repo financing proceeds are allocated towards ESG assets, it said in a statement.
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Saudi Arabia sees no purpose in engaging Lebanon at this time, says foreign minister
Gulf states were traditional aid donors to Lebanon but, dismayed by Hezbollah's expanding power, have been loathe to help rescue Lebanon from a devastating economic crisis, rooted in decades of corruption and mismanagement.
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