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Crown Prince Mohammed bin Salman Arrives in India for Next Stop of Asia Tour
- February 20,2019
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in India for the second stop on a three-country tour of Asian nations as the Kingdom looks to boost relationships and trade opportunities in the East. India “rolled out the red carpet for the crown prince,” Reuters reports, amid simmering tensions with neighboring Pakistan following a militant attack in […]
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Al-Falih: ‘Going forward the world is going to be Saudi Aramco’s playground’
- February 12,2019
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- SUSTG Team
In a new interview with the Financial Times, Saudi Arabia’s powerful minister of energy, industry, and mineral resources Khalid Al-Falih indicated that Saudi Aramco would take on an active position as investor in resource opportunities outside the Kingdom of Saudi Arabia. Saudi Arabia’s state-owned energy company, Saudi Aramco, will seek to develop an international energy […]
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Ambitious Saudi Entertainment Push Announced by GEA’s Turki al-Sheikh
- January 23,2019
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- SUSTG Team
Saudi Arabia is looking to maintain heavy investment in the entertainment sector in 2019, according to comments made by a top Saudi official, as it looks to make good on key Vision 2030 economic reforms. Reuters reports that Saudi Arabia’s recently named chairman of the General Entertainment Authority, Turki al-Sheikh, said the Kingdom would put on […]
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Saudi Arabia, Other Gulf Nations to Join JPMorgan Chase & Co.’s Emerging-Market Bond Indexes
- January 18,2019
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- SUSTG Team
Saudi Arabia and four other Gulf nations will join JPMorgan Chase & Co.’s emerging-market bond indexes this month, Bloomberg reports, “potentially paving the way for billions of dollars in inflows into the securities.” The debt offerings from Saudi Arabia, Qatar, the United Arab Emirates, Bahrain and Kuwait will represent about 11.8 percent of the EMBI Global […]
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Saudi Arabia Eyes Major Domestic Energy Conservation by 2030, Al Falih Says
- January 15,2019
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- SUSTG Team
Saudi Arabia expects to throttle back domestic energy consumption by 2030 by up to the equivalent of 2m barrels of oil per day, in line with the Kingdom’s Vision 2030 economic and social reform initiative, according to comments made by Khalid Al-Falih published by Reuters. Saudi Arabia has long used easily extracted oil reserves for […]
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A Gradual Pickup in Private Sector Lending in Saudi Arabia Seen in Monetary Update
- January 11,2019
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- SUSTG Team
A recently-released report by Jadwa Investment finds a gradual pickup in private sector lending since April 2018 after showing a slowdown in 2017 and Q1 2018. The Monetary and Financial Update report from the Riyadh-based Jadwa looks at the Kingdom’s monetary policy and other key economic data. Jadwa Investment sees “a rising level of uncertainty” in the […]
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Saudi Arabia Seeks Balanced Budget by 2023 – Al Jadaan
- December 20,2018
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- SUSTG Team
Saudi Arabia’s finance minister told Reuters on Wednesday he was “unconcerned with current oil prices impacting spending plans in 2019″ and the government still aims to close its budget deficit by 2023 – though the target is not set in stone. The government unveiled a $295 billion budget on Tuesday, the kingdom’s largest, with a […]
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Saudi Government ‘Rejects’ U.S. Senate Rulings on Saudi Arabia But Pledges to Continue Building Relationship
- December 17,2018
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- SUSTG Team
The government of Saudi Arabia issued a statement condemning a recent U.S. Senate resolution blaming Crown Prince Mohammed bin Salman for the killing of journalist Jamal Khashoggi, and said the government rejects external interference in its affairs. The Senate measure, which passed in a rare bipartisan vote with unanimous approval on Thursday, was a sweeping condemnation of Crown […]
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OPEC, Russia Will Cut 1.2 million Barrels of Oil Production a Day; Price Jumps
- December 7,2018
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- SUSTG Team
OPEC and Russia have agreed to collectively throttle back oil production by 1.2 million barrels per day to dry up a global supply glut, according to energy reporters from the Wall Street Journal. OPEC nations would cut 800,000 barrels and the Russia-led group would handle the remainder, according to the WSJ. Oil prices on indices […]
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Saudi Aramco CEO: ‘We Need a Major Acquisition For Us to Be In Different Markets Quickly’
- November 26,2018
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- SUSTG Team
In an interview with Bloomberg, Saudi Aramco’s CEO Amin Nasser said the company is earmarking $500 billion to invest over the next 10 years, including $160 billion for natural gas developments and $100 billion for chemicals projects. The interview, given in Dhahran, Saudi Arabia, said the planned spending would come on top of the already planned purchase of a […]
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Saudi Arabia’s mandatory USB Type-C charging port regulation comes into effect
Saudi authorities have announced the implementation of the first mandatory phase of unified charging ports for electronic devices in Saudi Arabia, effective January 1, 2025. This initiative from the Communications, Space and Technology Commission (CST) and the Saudi Standards, Metrology and Quality Organization (SASO) mandates the use of USB Type-C as the standard charging port across various devices. The unified charging ports decision aims to enhance user experience, reduce consumer costs, and promote the adoption of high-quality charging and data transfer technologies. Additionally, it aligns with environmental sustainability goals by reducing electronic waste and supporting the UN’s Sustainable Development Goals (SDGs). The first phase covers mobile phones, tablets, digital cameras, e-readers, portable video game consoles, headphones, earphones, portable speakers, amplified speakers, keyboards, computer mice, portable navigation systems, and wireless routers.
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New Syrian FM on first official visit to Saudi Arabia aims for regional reset
On his first official visit to Saudi Arabia since Bashar al-Assad's ouster, Syrian Foreign Minister Assaad al-Shibani said he hoped to open a "new, bright page" in bilateral relations. Syria's new leaders are focused on rebuilding their war-shattered country amid Saudi concerns over the trafficking of captagon, a narcotic produced under the Assad regime in large quantities.
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Syria delegation in Saudi Arabia for first official visit
A high-ranking Syrian delegation arrived in Saudi Arabia on Wednesday on the first foreign visit by the country's new Islamist rulers since they ousted President Bashar al-Assad last month, state media said. "An official Syrian delegation headed by Foreign Minister Assaad al-Shibani, Defence Minister Murhaf Abu Qasra and General Intelligence Service chief Anas Khattab arrives in the Saudi capital Riyadh," the official SANA news agency reported, quoting a foreign ministry source. The statement described it as "the first official foreign visit, at the invitation of the Saudi foreign minister". Last month, a Saudi delegation met Syria's new leader Ahmed al-Sharaa in Damascus, a source close to the government told AFP at the time.
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Who was Shamsud-Din Jabbar, the suspect in New Orleans truck attack?
Shamsud-Din Jabbar, the 42-year-old Texas man accused of crashing a truck into New Year's Day revelers in New Orleans, killing 15 and injuring dozens of people, served in the U.S. Army for 13 years including a deployment to Afghanistan, the Army said. Federal officials and local law enforcement in New Orleans said that Jabbar did not act alone and that they are looking for accomplices. The FBI said Jabbar had an Islamic State flag on his truck and view the attack as a potential act of terrorism. The Islamic State, or ISIS, is a Sunni Muslim militant group which has carried out attacks throughout the world. While the investigation is ongoing, so far no information has surfaced to explain why Jabbar, a U.S. citizen raised in Texas, would carry out the New Orleans attack. Jabbar died at the scene in a shootout with police, officials said.
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Russian gas era in Europe ends as Ukraine stops transit
Russian gas exports via Soviet-era pipelines running through Ukraine came to a halt on New Year's Day, marking the end of decades of Moscow's dominance over Europe's energy markets. The gas had kept flowing despite nearly three years of war, but Russia's gas firm Gazprom said it had stopped at 0500 GMT after Ukraine refused to renew a transit agreement. The widely expected stoppage will not impact prices for consumers in the European Union - unlike in 2022, when falling supplies from Russia sent prices to record highs, worsened a cost-of-living crisis and hit the bloc's competitiveness. The last remaining EU buyers of Russian gas via Ukraine, such as Slovakia and Austria, have arranged alternative supply, while Hungary will keep receiving Russian gas via the TurkStream pipeline under the Black Sea.
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Saudi Arabia condemns New Orleans attack
Saudi Arabia condemned and denounced on Wednesday a deadly car ramming in New Orleans, Louisiana, that struck a crowd celebrating New Year’s Eve. A 42-year-old Texas man crashed a pickup truck into a crowd in the city’s French Quarter before opening fire with a gun, killing at least 10 people and injuring 35, in an early morning attack the FBI said was a potential act of terrorism. The suspect was fatally shot in an exchange of gunfire with police. Potential homemade bombs were found in the truck and around the French Quarter, the FBI said.
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Energy efficiency card is mandatory for dishwashers from Jan. 1
The Saudi Energy Efficiency Center announced that energy efficiency card is mandatory for dishwashers at all points of sale in the Kingdom, starting from January 1, 2025. The center called on consumers wishing to purchase this type of device to ensure that the energy efficiency card label is available with the dishwasher and report the center via the Balagh Tijari application if the label is not available with the device. The card includes basic data about the device such as its type, model, brand, electrical energy consumption, and test specifications.
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Saudi Venture Capital invests in $150 million Global Ventures fund
Saudi Venture Capital (SVC) announced its investment in Global Ventures III, an early-stage venture capital fund managed by Global Ventures with a fund size exceeding $150 million. The fund will focus on investments in technology and tech-enabled sectors across Saudi Arabia, the MENA region, and Sub-Saharan Africa. Key areas of interest include supply chain technology, agritech, enterprise SaaS, and emerging technologies such as artificial intelligence and deep tech, according to an SVC press release.
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Syria FM hopes first foreign visit to Saudi opens ‘new, bright page’
Syria's top diplomat said he hoped to open a "new, bright page" with Saudi Arabia upon arriving in the kingdom Wednesday, the first foreign visit for Syria's new rulers, who seized power last month. "I have just arrived in the sisterly Kingdom of Saudi Arabia, accompanied by the Minister of Defence Murhaf Abu Qasra and the Head of the General Intelligence Service Anas Khattab," Assaad al-Shibani said in a statement on X. "Through this first visit in the history of Free Syria, we aspire to open a new, bright page in Syrian-Saudi relations that befits the long shared history between the two countries," he added. Earlier Wednesday Syrian state media said the top delegation had come to the kingdom "at the invitation of the Saudi foreign minister", quoting a foreign ministry source.
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Commerce ministry recalls 28,806 Ford Explorer vehicles
The Ministry of Commerce announced the recall of 28,806 Ford Explorer vehicles, 2011 – 2019 models. This was attributed to a defect in the installation of the external side covers of the windshield supports, which may lead to their separation from the vehicle, posing a danger to road users and increasing the risk of an accident. The ministry called on users of the vehicles included in the recall to contact the local agents, Al Jazirah Vehicles Agencies Company, on the toll-free number (8007492222), and Mohammed Yousuf Naghi Company, on the toll-free number (8001240218), to carry out the necessary repairs free of charge.
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