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An Outpouring of Grief from Saudis on Social Media as Heads of State Arrive for Funeral of the Late King Abdullah
- January 23,2015
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- SUSTG Team
Saudi Arabia’s citizens took to social media to express their grief and sadness at the death of King Abdullah bin Abdulaziz al Saud as heads of state arrived in Riyadh to attend services and express solidarity with the leaders and people of the Kingdom. At the time of this writing, the hashtag #KingAbdullah is the […]
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OPEC to Oil Companies at Davos: ‘Let’s produce the lower cost oil first and then produce the higher cost…prices will rebound’
- January 22,2015
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- SUSTG Team
In dueling speeches at the Davos World Economic Forum in Switzerland, oil company heads and OPEC representatives clashed about the collapse in the price of oil, according to a report in Reuters. Oil company chiefs at from Italy’s Eni Spa and France’s Total said that OPEC’s unwillingness to cut output “could lead to a huge […]
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Spain’s Abengoa and AWT to Develop the World’s First Solar-Powered Desalination Plant in Saudi Arabia
- January 21,2015
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- SUSTG Team
[Press Release] Spain’s Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB), the international company that applies innovative technology solutions for sustainability in the energy and environment sectors, has been selected by Advanced Water Technology (AWT) to jointly develop the world’s first large-scale desalination plant to be powered by solar energy, in Saudi Arabia. AWT is a newly formed company […]
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‘No Shortage of Funds’ for Saudi Arabia’s Troubled Housing Market as Minister Eyes Taxes on Undeveloped Lands
- January 14,2015
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- SUSTG Team
A longstanding issue for the Kingdom of Saudi Arabia has been the drag on the housing market caused by privately-owned property in urban locales that remains unused with no plans for development. Without taxation of this land, and low prices that owners might receive on the market, there is little incentive to sell it. However, […]
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Ras Tanura Clean Fuels Project in Saudi Arabia Suspended Due to Low Oil Price
- January 2,2015
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- SUSTG Team
Saudi Arabia’s $2 billion Ras Tanura clean fuels project has been suspended by Saudi Aramco following a steep drop in oil’s price since July 2014, Reem Shamseddine of Reuters reports. The Ras Tanura clean fuels project was due to be a part of a second phase of upgrades to Aramco’s refineries, but may resume in a […]
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For Saudi Arabia’s Budget, Oil’s True Breakeven Price Disputed by Analysts
- December 31,2014
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- Lucien Zeigler
One of the most important figures that factors into Saudi Arabia’s budget each year isn’t actually published by the government. What the Kingdom annually assumes will be the average price of oil is crucial for government and fiscal planning. With the Kingdom’s economic diversification goals still yet to be realized, oil revenues are (almost) everything […]
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Ahead of Budget Announcement, Inflation in Saudi Arabia Hits 7-Year Low
- December 23,2014
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- SUSTG Team
Ahead of Saudi Arabia’s budget announcement, which is expected for the end of the week after a special meeting, inflation in Saudi Arabia is approaching its lowest levels since April 2007, Asharq Alawsat reports. The 7-year low is expected to be official when Saudi Arabia’s Central Department of Statistics and Information releases official data before […]
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Following Huge Dip, Saudi Markets Rebound on Government’s Spending Plan
- December 18,2014
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- SUSTG Team
Saudi Arabia’s markets rebounded on Wednesday in response to the Government’s spending intentions in 2015, several news outlets reported today. Olzhas Auyezov of Reuters reports that markets reacted well to the Government’s plan, rebounding 4.2 percent “in a broad rally which included the petrochemicals sector.” The increase was echoed around the region as markets in […]
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Saudi Stock Market Posts Biggest Daily Loss in 6 Years as Oil Dips Below $60
- December 17,2014
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- SUSTG Team
Saudi Arabia’s Stock Market posted the biggest loss in 6 years as the bourse reacted to further declines in the price of oil, according to reports. The TASI fell 7.3 percent to 7,330 points, its lowest level since June 2013. Dozens of stocks fell by their daily 10 percent limits, indicating further potential weakness, Arab News […]
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John Kerry’s Remarks at U.S. Chamber of Commerce Middle East Commercial Center Leadership Dinner
- December 12,2014
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- SUSTG Team
In an energetic and wide-ranging speech delivered to guests attending the Middle East Commercial Center Leadership Dinner on Monday night at the U.S. Chamber of Commerce, Secretary of State John Kerry praised the work of the Center and the development of business relationships between the United States and the Middle East region. Secretary Kerry shared […]
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MUST-READS
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TurkeyEU Commission to recommend Turkey visa-free deal
The European Commission is set to recommend granting visa-free travel for Turkish citizens inside Europe's passport-free Schengen area, despite unease among some EU lawmakers.
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IranWhy big European banks are reluctant to return to Iran
Iranian officials have expressed frustration with the slow pace of tangible economic benefits they have seen since implementation of the Joint Comprehensive Plan of Action (JCPOA) Jan. 16. A key impediment has been Iran’s difficulty in fully reconnecting to the international financial system.
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Refugee Crisis: EUThe shifting sea routes of Europe’s refugee crisis, in charts and maps
And though Italy reported a surge of arrivals in March, numbers in April decreased compared with last year. So who are the people crossing from Libya to Italy?
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Syrian RefugeesMeet the Syrian refugees who do not dream of Europe
Despite the war that has forced them to flee their country, it is not Europe or North America that they ever intend to call "home" - rather, that title will always be reserved for their native Syria.
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TortureAnalysis: Neuroscience proves torturing terrorists won’t keep us safe
Seven years after US president Barack Obama put an end to his predecessor’s extreme CIA interrogation techniques, torture has re-entered American politics.
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Entrepreneurship in Saudi ArabiaEntrepreneurship, innovation become economic growth drivers in Saudi Arabia
Most start-up founders in the region ponder the question of how to scale their ventures into Saudi Arabia despite daily newspaper headlines potentially leading them to different conclusions since June 2014.
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Anti-ISIS CampaignTracing the path of four terrorists sent to Europe by the Islamic State
On a crisp morning last October, 198 migrants arrived on the Greek island of Leros, all of them seemingly desperate people seeking sanctuary in Europe. But hiding among them were four men with a very different agenda.
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Migration CrisisMerkel’s Turkey visit aims to soothe tensions on EU migrant deal
German Chancellor Angela Merkel will use a visit to Turkey this weekend to try to soothe tensions over a deal meant to stem the flow of migrants to Europe, as questions about its effectiveness and long-term viability mount.
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Entrepreneurship in Saudi ArabiaTurki Al-Yahya Named Ernst & Young Entrepreneur of the Year 2016 Award Finalist
TURKI AL-YAHYA, founder and managing partner of global healthcare company (GHC), has been selected as the 2016 Ernst & Young Entrepreneur of the Year to represent Saudi Arabia in Monte Carlo in June. Al Yahya was selected by a panel of independent judges convened by Ernst & Young.
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IranIran official accuses US, EU of not honoring nuclear deal
A top Iranian official on Friday accused the U.S. and the European Union of failing to honor last year’s nuclear deal by keeping Iran locked out of the international financial system.
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