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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

  • Anthony Hopkins Attends Joy Awards Alongside Matthew McConaughey

    Anthony Hopkins made his first public appearance over the weekend since recently losing his home in the Pacific Palisades fire by traveling to Saudi Arabia. The legendary Oscar-winning actor, who is also a composer, hosted a gala concert featuring his pieces played by Britain’s Royal Philharmonic Orchestra. “The theme of this concert is that life is a long farewell to the bitter,” Hopkins, 87, said at the start of the concert, after being introduced by Morgan Freeman. “During this time, and after all the efforts made, whether in Wales or California, we believe that music can be a path to inner peace,” the two-time Oscar winner – for “The Silence of the Lambs” and “The Father” – added.

  • New Honeywell centre cements Saudi Arabia’s position in global cybersecurity market

    Honeywell recently launched a new centre in Saudi Arabia’s Jubail to provide localised cybersecurity services for critical industrial sectors in the Kingdom, according to a press release. Honeywell Himaya Center, which was announced at the In-Kingdom Total Value Add (iktva) Forum and Exhibition 2025 in Dhahran, will support Saudi Arabia’s digital transformation and strengthen its position as a key player in the global cybersecurity market.

  • Sotheby’s Reveals Linup For Saudi Auction

    Titled “Origins“, the two-day evening auction will open on February 8th. It will occur at the historic town of Diriyah, a UNESCO heritage site – though the exact location hasn’t been shared. Over 100 works would be sold in the auction. Before it, between February 1st and 8th, the works would be on public display at both enclosed spaces and open sites around Diriyah.  The artworks include works by Picasso and Warhol. There would be installations like one by James Turrell (est. $120k -$180k) and Sidle by Antony Gormley (est. 700k -$800k). Sotheby’s is also paying special focus to surrealist art. These include L’État de veille by Rene Magritte (est. $1 million -$1.5 million) and La Légende égyptienne by Paul Delvaux (est. 700k).

  • Saudi Arabia boosts mining industry

    Throughout this year, Saudi Arabia intends to promote mineral exploration opportunities in an area of up to 50,000 square kilometres, Minister of Industry and Mineral Resources Bandar Al-Khorayef announced at the International Mining Conference recently held in Riyadh.  The minister noted that the Kingdom's programme to enable mineral exploration has already helped exploration companies excavate more than 440,000 square metres. He also used the occasion to announce the launch of the Mining Innovation Studio initiative, a project designed to attract global talent and accelerate the use of advanced technologies, as well as to advance Riyadh's vision of becoming the ‘Silicon Valley of Metals’.

  • Saudi’s Al-Hilal offers record salary to sign Mohamed Salah

    According to media reports, Al-Hilal is in serious negotiations with Salah to secure his transfer to the team. Saudi Arabia media revealed that Al-Hilal has offered Salah an annual salary of 150 million Saudi riyals ($32.5 million), totalling 300 million riyals ($65 million) for a two-season contract. This proposed salary far exceeds the £18 million ($22 million) that Salah currently earns at Liverpool.

  • Saudi Arabia Advances Lithium Plans, Looks Beyond Oil For Commodity Diversification

    Saudi Arabia has unveiled a joint venture between the state oil company Aramco and the state mining company Ma'aden. The collaboration focuses on extracting lithium, a vital component in batteries for electric vehicles (EVs), renewable energy storage, and electronics. Commercial production is expected by 2027. "We expect that this partnership will leverage the world's leading upstream enterprise to apply significant low-cost advantages, industry experience, technological innovation, and an integrated supply chain ecosystem," said Nasir K. Al-Naimi, Aramco's upstream president.

  • Zambia says Saudi’s Manara interested in its copper assets

    Saudi Arabia's Manara Minerals is looking for critical minerals projects in Zambia to invest in, the southern African country's mines minister Paul Kabuswe told Reuters on Thursday. Manara and Africa's second-largest copper producer held talks on Wednesday after the signing the previous day of a memorandum of understanding (MOU) with Saudi Arabia to cooperate on exploration for new minerals. "They (Manara) are interested, but we do not know which ones yet," he said on the sidelines of a mining conference in Riyadh, adding that an announcement on a potential mining deal between Zambia and Saudi Arabia is likely this year.

  • China and Saudi Arabia: A Deepening Strategic Partnership

    Increasing political, strategic, and economic engagements with the Middle East and North Africa (MENA) region has been a notable feature of Chinese foreign policy, especially since the launch of its flagship Belt and Road Initiative (BRI) in 2013. One of the key countries with which China has strengthened its engagement is Saudi Arabia. The kingdom is an important regional power, with influence in the Arab-Islamic world as well as in the global energy market. In December 2022, during a visit by Chinese President Xi Jinping to Riyadh, the two countries signed a comprehensive strategic partnership agreement that underlined the growing Chinese inroads into a region that has traditionally been regarded as an American sphere of influence.[1] The China-Saudi Arabia strategic partnership has the potential to impact the geopolitical makeup of the entire region, which is part of India’s extended neighbourhood.

  • Saudi Arabia proposes amendments to Zakat Executive Regulations for real estate projects under construction

    On 15 January 2024, Saudi Arabia's Zakat, Tax and Customs Authority (ZATCA) announced on the public consultation platform (Istitlaa), proposed amendments to Article 73 of the Executive Regulations for Zakat Collection (Executive Regulations) relating to real estate projects under construction. The ZATCA has proposed to add a new paragraph 3 to Article 73 of the current Executive Regulations addressing the zakat treatment of off-plan real estate sale projects and taking into account the nature of these projects. The deadline for receiving comments on the proposed amendments is 29 January 2025.

  • Saudi Arabia Seeks to Enhance Mining, Agricultural, and Financial Investments in Nigeria

    Leaders from Saudi Arabia’s private sector have agreed with senior Nigerian officials on a joint strategy to promote and attract Saudi investments in Nigeria, focusing on key sectors such as mining, agriculture, food products, banking services, and financial technologies. During a meeting today, President of the Federation of Saudi Chambers Hassan bin Moejeb Al-Huwaizi met with Minister of Solid Minerals of the Federal Republic of Nigeria Dele Alake and Minister of State Finance of the Federal Republic of Nigeria Doris Uzoka. The meeting was attended by Saudi investors. In his opening remarks, President Al-Huwaizi emphasized the importance of the Saudi-Nigerian Business Council in strengthening economic relations. He expressed Saudi Arabia’s interest in enhancing collaboration with Nigeria in the agriculture, livestock, and mining sectors.