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Al-Falih Signals ‘Wait and See’ Approach to Trump’s Harsher Iran Oil Sanctions
- April 23,2019
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- SUSTG Team
The recent decision by President Trump to end all Iran sanction waivers by May was welcomed in Saudi Arabia, but the Kingdom indicated it would respond cautiously with decisions on oil production. “President Donald J. Trump has decided not to reissue Significant Reduction Exceptions (SREs) when they expire in early May,” a White House readout […]
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Saudi Aramco to Acquire Stake in South Korean Hyundai Oilbank for $1.2 billion
- April 15,2019
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- SUSTG Team
Saudi Aramco says it has reached an agreement to acquire a $1.25 billion stake in South Korean refiner Hyundai Oilbank that would provide it with “a dedicated outlet for its crude to South Korea.” The deal was struck between Aramco and Hyundai Heavy Industries Holdings for Saudi Aramco’s subsidiary, Aramco Overseas Company B.V (AOC), to […]
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Trump, Crown Prince Mohammed bin Salman Speak by Phone, White House Says
- April 10,2019
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- SUSTG Team
U.S. President Donald Trump spoke with Saudi Arabia’s Crown Prince Mohammed bin Salman by phone on Tuesday, discussing Riyadh’s role in Middle East stability, maintaining pressure on Iran other issues, according to reports. “President Trump and the Crown Prince discussed regional developments and opportunities to further enhance the American-Saudi partnership on a range of security and economic […]
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King Salman Makes Day Trip to Bahrain, Meets with Bahraini King Hamad Al-Khalifa
- April 3,2019
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- SUSTG Team
Saudi Arabia’s King Salman arrived in Bahrain on Wednesday to discuss bilateral relations and regional developments, according to reports. The visit is the second foreign trip in as many weeks for King Salman, having visited Tunisia for an Arab League summit at the end of March. King Salman was welcomed to the country by the King of Bahrain, […]
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Energy Secretary Rick Perry Confirms KSA One of 16 Countries Approved for Unclassified Civil Nuclear Technology
- March 29,2019
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- SUSTG Team
The Trump administration has approved seven applications for U.S. companies to sell nuclear power technology and assistance to Saudi Arabia, but did not reveal the particular companies or specifics of those authorizations, the Energy Department said Thursday. Energy Secretary Rick Perry told the Senate Armed Services Committee that the seven applications approved were among 37 […]
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Saudi Tourism Officials Eye $20b Investment for Al-Ula, with Roadshow Planned for This Year – Report
- March 21,2019
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- SUSTG Team
A recent report in Reuters revealed Saudi Arabia’s big ambitions for Al-Ula, in the northwestern corner of the kingdom that was a key site for an ancient civilization and is near to the future planned city NEOM. Saudi Arabia is targeting up to $20 billion of investments through 2035 for a planned landmark tourism destination and will hold a global investor […]
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Saudi Top Buyer of Military Arms as Flow Increases to Middle East
- March 13,2019
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- SUSTG Team
Saudi Arabia became the world’s largest arms importer between 2014–18, with an increase of 192 per cent compared with 2009–13, according to a new annual report published by the Stockholm International Peace Research Institute (SIPRI). The report also noted that U.S. and other Western weapons sales “are in high demand” in the Middle East, edging out Russia and […]
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Saudi Society Debates Keeping Shops Open during Prayer Times ahead of Shoura Consideration
- March 4,2019
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- SUSTG Team
A debate is raging on social media in Saudi Arabia about whether the Kingdom should continue to require by law the closing down of all shops, malls, restaurants, gas stations, and even hospitals during the call for adhan (Islamic prayer) and throughout prayer time, according to media reports. According to Gulf News, Yahya Al Samaan, assistant president of […]
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Crown Prince Mohammed bin Salman Meets with Xi Jinping in Beijing, Tours Great Wall
- February 22,2019
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman continued his tour of Asian nations with a second day in China, where he met with Chinese President Xi Jinping and the two countries inked over $28 billion in deals, according to reports. In his meeting with President Xi Jinping, the Chinese leader urged joint efforts to counter extremism and […]
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Jadwa Investment Forecasts ‘Continued Improvement in the Health and Direction of the Saudi Economy’
- February 15,2019
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- SUSTG Team
In a research report on the year ahead for the Saudi economy, Jadwa Investment said 2019 will be “marked by a continued improvement in the health and direction of the Saudi economy.” “During 2019, we expect to see a consolidation of efforts in striving towards the goals of the Vision 2030, as well as the targets […]
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MUST-READS
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Stock MarketMiddle Eastern Stocks Rally as China Flags Scope for Stimulus
Stocks across the Middle East advanced after China’s central bank governor highlighted scope for further policy stimulus in the world’s biggest commodities user.
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Saudi-ChinaThe GCC’s New Affair with China
Indeed, economic relations between GCC and China today is more important than Beijing’s ties to Iran, simply due to expediency. The total trade between the GCC as a whole and China is more than four times Chinese-Iranian trade.
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U.S. Military Weapon DevelopmentThe exotic new weapons the Pentagon wants to deter Russia and China
“Our adversaries, quite frankly, are pursuing enhanced human operations,” Work warned a gathering at the Center for a New American Security in December. “And it scares the crap out of us, really.”
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China and the Middle EastChina Builds Middle East Ties Through Business
Xi and his recently established Asian Infrastructure Investment Bank have already pledged $100 billion in financing for the One Belt, One Road initiative, an ambitious vision of Chinese investment and trade rejuvenating the ancient Silk Road from China through Central Asia to the Middle East.
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Silk RoadFirst ‘Silk Road’ train arrives in Tehran from China
The train is run by private companies using existing routes, Iranian railway company spokesman Sadegh Sakari told AFP.
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Saudi-ChinaSaudi Arabia and China: The Security Dimension
After 1949, and chiefly for revolutionary reasons, successive Chinese governments opted to stand by radical Arab regimes. Preference was given to Libya, Iraq, Egypt, and especially to the People’s Democratic Republic of Yemen (PDRY).
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ChinaAnalysis: China’s Role in the Middle East
While Xi touted dialogue and development as the path to security during his remarks in Cairo, China has shown more willingness to utilize military means in the greater Middle East than in any region beyond Asia—and the trends that have been driving this shift are likely to persist.
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EgyptChina signs raft of trade deals with Egypt
Chinese President Xi Jinping signed a slew of trade deals with Egypt's leader Thursday as part of a regional tour aimed at bolstering Beijing's economic ties and clout in the Middle East.
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Saudi-ChinaSaudi Aramco in advanced talks to buy China refinery stakes, chairman says
Aramco and Sinopec on Tuesday signed a framework agreement for strategic cooperation. The agreement was one of 14 deals and memoranda of understanding signed between Saudi Arabia and China on the first day of a state visit by Chinese President Xi Jinping to Riyadh.
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War in YemenChina offers support for Yemen government as Xi visits Saudi Arabia
China has signaled its support for Yemen's government, which is fighting an Iran-allied militia, on the first day of a visit to Saudi Arabia by Chinese President Xi Jinping, who will also be heading to Tehran later in the week.
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