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  • Crown Prince Mohammed bin Salman to Visit Pakistan on Saturday, Announce $20b in Deals
     

    Saudi Arabia’s crown prince Mohammed bin Salman is set to make his first state visit to Pakistan on Saturday, where he will announce investment projects worth up to $20 billion, a senior official told VOA news. The investment is needed for Pakistan, which is cash-strapped and facing multiple regional political challenges with a recently-elected Prime Minister. […]

     
  • Saudi Arabia Launches Office to Monitor State Spending, Corruption After Crackdown
     

    Saudi Arabia has launched a new office to monitor state spending, saying it would help keep up the fight against corruption after the closing of a 15-month crackdown that yielded over $100b of assets to the government, according to Reuters. A newly created financial reporting office would be part of the state’s General Auditing Bureau, which watches […]

     
  • Private-Sector Program ‘Direction’ in Saudi Arabia Boosts Cross-Cultural Understanding, Dialogue
     

    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 […]

     
  • Saudi Arabia Doubles Down on Industrial Development Program; Seeking over $400 Billion in Investment
     

    Saudi Arabia is seeking to attract 1.6 trillion riyals (nearly $429 billion) in private sector investment over the next 10 years for an infrastructure and industrial program, according to an announcement over the weekend and at an investment conference in Riyadh today. Investments will be made through the National Industrial Development and Logistics Program (NIDLP), […]

     
  • Fahad Nazer Named New Saudi Embassy Spokesperson in Washington
     

    The Royal Embassy of Saudi Arabia in Washington has appointed Fahad Nazer as official spokesperson, according to a press release and announcement made public yesterday. Nazer, who has been a contributor to SUSTG.com as well as Arab News and other publications in the region and United States, replaces Ms. Fatimah Baeshen, who served in the role since September 2017 […]

     
  • Secretary of State Pompeo Meets Top Saudi Leadership in Riyadh
     

    Secretary of State Mike Pompeo held talks with Saudi Arabia’s King Salman and Crown Prince Mohammed bin Salman in Riyadh on Monday, discussion topics ranging from the conflicts in Syria and Yemen, threats from Iran and the Saudi response to the killing of Washington Post columnist Jamal Khashoggi last year, according to reports. The Associated Press reports that Pompeo spent […]

     
  • Production Cuts Begin with Big Drop in Crude Oil Supply; Prices Rise
     

    Oil output from OPEC countries fell 530,000 barrels a day to 32.6 million a day last month, Bloomberg reports, in what amounts to the sharpest pullback since January 2017. The cut in supplies is a response by the group to a global glut of oil on the market and a falling price for oil on international indices […]

     
  • Saudia-Owned Flyadeal Selects Boeing for Expansion Fleet with $3.5b in New Planes
     

    Saudi Arabian discount carrier Flyadeal will switch from an all-Airbus SE fleet to Boeing jets after ordering 30 737 Max narrow-body planes worth $3.5 billion at list prices, according to a Bloomberg report. The Chicago, Illinois-based Boeing has been in competition with France-based Airbus for the order since mid-2016, according to the report. The airline committed to […]

     
  • In Dhahran, Energy Secretary Perry, Al-Falih Discuss Oil Markets, Nuclear Possibilities
     

    U.S. Energy Secretary Rick Perry held a round of talks with Saudi Minister of Energy Khalid Al-Falih and Aramco CEO Amin Nasser as well other energy industry figures in Dhahran, Saudi Arabia, according to reports. The top energy officials from the U.S. and Saudi Arabia discussed oil markets and nuclear power possibilities. Saudi Arabia’s energy minister Khalid al-Falih […]

     
  • High Stakes as Saudi Arabia, Russia Leaders Meet on Sidelines of G20
     

    Top officials from Russia and Saudi Arabia are set to test their energy policy coordination through a series of meetings this week, both in Argentina on the sidelines of the G20 meeting and in Vienna, Austria next week for a meeting between OPEC and non-OPEC producers. Crude futures have fallen more than 25 percent since climbing to a four-year peak […]

     

MUST-READS

  • Lebanese PM to meet financial adviser Lazard soon over rescue plan

    Prime Minister Najib Mikati will meet with the advisory firm Lazard soon to see how a financial recovery plan it drafted for Lebanon could be developed into a "more realistic" vision for getting the country out of its crisis, he said on Monday. Mikati also said Lebanon would be very lucky if it was able to reach a framework for an agreement with the International Monetary Fund by the end of the year. Mikati took office earlier this month determined to revive IMF talks.

  • How Afghanistan’s security forces lost the war to the Taliban

    A sophisticated Taliban campaign aimed at securing surrender deals lay at the heart of the Afghan military’s collapse, but layers of corruption, waste and logistical failures left the country’s security forces so underequipped and with such battered morale that it enabled the militants’ success.

  • Saudi has strongest banking system among GCC, S&P Global Ratings says

    S&P Global Ratings said on Sunday that the COVID-19 pandemic and last year's oil price crash did not affect all Gulf Cooperation Council (GCC) banking systems in the same way, highlighting that the Saudi Arabian banking system appeared to be the strongest in the current environment. "We expect GCC banks' asset quality indicators to deteriorate only slightly thanks to regulatory and government support measures, and improving economic sentiment," the rating firm said in the comment.

  • Afghanistan’s Taliban Warn Foot Soldiers: Behave, and Stop Taking Selfies

    Thousands of young Taliban men from all over the country, many of whom have never been to a big city before, were deployed in Kabul after the Afghan republic collapsed Aug. 15. When not on duty, they sightsee, picnic and visit amusement parks, in a tangle of guns and turbans. Taliban fighters from elsewhere in Afghanistan have also come to gawk at Kabul on tourist trips.

  • How Saudi Arabia’s top 10 banks performed in the second quarter

    Global management consulting firm Alvarez & Marsal has released its second quarter analysis of the state of Saudi Arabia's banking sector. A round of the report's key findings in six charts.

  • How the US and Iran compete to fuel Lebanon

    Hezbollah has imported fuel from Iran to supply Lebanon, while the US wants to power Lebanon with Egyptian gas and Jordanian electricity. The energy race between the geopolitical rivals has implications for the region.

  • Can the UN help Afghan women without supporting the Taliban?

    Afghanistan’s regime had initially promised it would respect human rights, crucially those of women. But its handling of dissent, the curtailing of women’s freedoms, and the disconnect between the plans announced by the central government and the behavior of Taliban in outposts in the country’s more remote areas is quickly showing a different picture.

  • Saudi top 10 banks see robust growth in financing and deposits

    Core operating income increased by 8.4 percent, compared to 1.2 percent in the first quarter of the year, in what is considered the fourth increase in a row, while loans and advances (L&A) increased by 13.1 percent and deposits by 12.6 percent.

  • Taliban Name All-Male Cabinet

    The Taliban expanded their interim Cabinet by naming more ministers and deputies on Tuesday, but failed to appoint any women, doubling down on a hard-line course despite the international outcry that followed their initial presentation of an all-male government lineup earlier this month.

  • World Bank’s ‘Doing Business’ scandal is bad for globalization

    One result of this effort is the Doing Business index, which attempts to measure how easily private firms can operate in a country’s legal and economic regime. Duke University professor Judith Kelley says the index is incredibly influential, with countries seeing it as a way to attract foreign investment and gain access to institutional funding.