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Recent stories from sustg

  • December Data a Mixed Picture for Saudi Economy
     

    Saudi Arabia’s total government accounts with SAMA fell $80 billion last year, representing a significant slowdown from 2015 which saw a $116 billion net decline, according to a recently released chartbook by Jadwa Investment. The net monthly change to government accounts with SAMA remained negative in December, falling for the seventh consecutive month, part of […]

     
  • Trump Turns Up Rhetoric, Threats Toward Iran
     

    The Trump administration says it is putting Iran “on notice” following two incidents in the region in the past week, including an attack on a Saudi navy ship by Iran-backed Houthi rebels. The comments came from President Trump on Twitter as he blasted the agreement to disarm Iran’s nuclear program. “Iran was on its last legs […]

     
  • U.S.-Saudi Arabia Continue Strong Defense Ties in Trump Administration’s Early Days
     

    Saudi Deputy Crown Prince Mohammed bin Salman spoke by phone with Secretary of Defense James Mattis today to discuss mutual cooperation on security issues, according to the SPA and the Saudi Gazette. The Deputy Crown Prince also serves as minister of defense and chair of the powerful Council on Economic and Development Affairs (CEDA). The U.S.-Saudi relationship is […]

     
  • Economy Rebounds in Saudi Arabia as Money Supply Grows
     

    Saudi Arabian money supply growth has picked up in latest data for the month of December “in a sign that the economy is regaining strength after a slump last year caused by low oil prices and government austerity measures,” Reuters reports, citing central bank data. Key notes among the Central Bank data reported by Reuters: -Annual […]

     
  • First Jets from Record-Setting U.S.-Saudi Military Sale Delivered, Showcased in Riyadh
     

    Saudi Arabia showcased its newest F-15SA fighter jet at an airshow in Riyadh on Wednesday, in a demonstration that the Kingdom has begun receiving items purchased six years ago in the most expensive U.S. arms sale to a foreign country, Reuters reports. Custodian of the Two Holy Mosques King Salman commissioned the F15-SA fighter aircraft during […]

     
  • Tunnel for Longest Riyadh Metro Line 3 Complete as City Eyes Long-Term Solution to Traffic, Pollution
     

    Tunnel excavation for Line 3 of the under-construction Riyadh Metro – the longest line of the six total being created as part of the project – has been completed, according to a report. Line 3 is also known as the Orange Line and is more than 25 miles long, of which almost 7 miles will be underground, […]

     
  • U.S to Transfer Four Gitmo Detainees to Saudi Arabia
     

    The United States will transfer four detainees to Saudi Arabia from the Guantanamo Bay military prison in the next 24 hours, according to reports. President Barack Obama is making a final push to reduce the number of inmates at the prison, despite pressure from president-elect Donald Trump to halt such releases. According to Reuters, the release “will […]

     
  • Another ‘Mixed Picture’ for Saudi Economy as Data Show Negatives on Consumer Spending, Inflation Down
     

    Jadwa Investment’s recently released Chartbook for the month of January 2017 finds a mixed picture for the Saudi economy, including negative data on consumer spending and a significant dip in net change to government accounts with SAMA. Data on consumer spending came out negative “partly reflecting the impact of allowance reductions to public sector employees,” […]

     
  • Outside Riyadh, Video Shows Making of Largest Tire ‘Doughnut’ Ever – and it’s Pink
     

    It is sometimes called a doughnut – the tire marks left on the road or dirt after spinning your car’s wheels into a burnout. Just outside of Riyadh, Saudi Arabia, someone created the biggest ‘doughnut’ ever according to the Guinness Book of World Records, but the purpose wasn’t just for one last superlative for the Middle […]

     
  • Saudi Government Publishes New Overview of Economy Highlighting Balanced Budget Goal by 2020
     

    Saudi Arabia has published a new report highlighting its goals to achieve a fiscal balance by the year 2020. The 85-page report, which places the goal in the context of the Kingdom’s ongoing economic transformation plans, is the first of its kind since Saudi Arabia published its Vision 2030 and National Transformation Program overviews earlier this year.  The […]

     

MUST-READS

  • Bridging the Gaps for an Orderly Energy Transition: The Role of Sustainable Finance in Saudi Arabia

    As governments and organisations across the ­Middle East work ­towards achieving their net-­zero agendas, sustainable finance plays a crucial role by raising capital for proj­ects essential to achieving ­these targets. Robust capital markets, supportive regulatory frameworks, and transparent sustainability reporting are some of the key ingredients for a well-­functioning sustainable finance practice, requiring cooperation from all relevant stakeholders, including governments, private companies, and regulators.

  • Measuring Green Jobs in Saudi Arabia: Saudis in Green Occupations

    This paper offers the first estimate of employment in Saudi Arabia that can be linked to the energy transition. Using a task-based taxonomy devised by the United States Bureau of Labor Statistics applied to detailed administrative data on Saudi workers, it is estimated that in 2022 almost 30% of all Saudi workers in the private sector were employed in “green” occupations. 

  • Isabelle Werenfels: North Africa’s Relationship with Europe

    When it comes to security, I think NATO has added value. If we just take one example, most North African armies really noticed how well the Ukrainians did initially in February 2022, thanks to NATO training. These countries are very keen on that. It is a way to build ties and bring them closer to the alliance, which is the ultimate goal.

  • Saudi Red Sea Authority: More Than a Sea

    The Saudi Red Sea Authority (SRSA) has launched a campaign titled “More Than a Sea”, which revolves around four main pillars of SRSA’s roles: regulations, sustainability, attracting investments, and promoting tourism experiences in the Red Sea, to highlight its contributions toward building a thriving coastal tourism sector.

  • Virgin Atlantic Reviews ‘Gender Neutral’ Policy for New Saudi Route

    In recent years, the airline has been proactive in its diversity messaging. The airline’s Gender Identity Policy, published in 2022, allows cabin crew, pilots, and ground personnel to choose which uniform best represents them. This is irrespective of their gender, gender identity, or gender expression. At the time, Virgin said the move “cements its position as the most inclusive airline in the skies.”

  • Al-Ittihad sign Netherlands winger Bergwijn from Ajax

    Saudi Arabia’s Al-Ittihad Football Club have signed winger Steven Bergwijn from Ajax Amsterdam FC, both clubs said on Monday. The Saudi Pro League side will pay more than €21 million ($23.25m) for the 26-year-old, whose contract with the Dutch club was valid until June 2027, said Ajax.

  • Flow House brings surfing sights to Saudi Arabia

    The Flow House concept will include indoor surfing experiences that are open throughout the year. The experiences will include flowboarding sessions and competitions, and it will welcome amateur as well as professionals. The experience draws inspiration from tropical islands, and will include live music and a restaurant overlooking the water. Plus, the menu will include plant-based and vegan options.

  • U.S.-Saudi Business Council Announces New CEO

    Mr. Hallab is a long-standing member of the Board of Directors of the Council and the founder of Barrington Global, an international legal and strategic advisory firm focused on the intersection of law, business and policy between the Middle East and the West. Mr. Hallab previously served as Chair of the Middle East Practice at the global law firm of Mayer Brown and in multiple leadership roles both at Mayer Brown and at the international law firm of Baker McKenzie.

  • Ângelo Gabriel moves to Saudi one year after joining Chelsea

    The unlikely career arc of Brazilian teenager Ângelo Gabriel continued when he completed a move to Saudi team Al Nassr in a reported $25 million deal on Tuesday, a year after joining Chelsea from Santos.

  • Saudi Arabia sees ‘unprecedented’ progress in economic transformation: IMF

    “Saudi Arabia’s unprecedented economic transformation is progressing well as it advanced in its modernization and diversification efforts under Vision 2030,” the fund wrote in its press release. “The recent fiscal space exercise has facilitated the recalibration of investment spending planned under Vision 2030 by reprioritizing projects and through sectoral strategies.”