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U.S. State Department Approves Potential $1.15b Sale of 130 Abrams Battle Tanks, 20 Armored Recovery Vehicles to Saudi Arabia
- August 10,2016
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- SUSTG Team
The U.S. State Department has approved the potential sale of more than 130 Abrams battle tanks, 20 armored recovery vehicles and other equipment, worth about $1.15 billion, to Saudi Arabia, the Pentagon said on Tuesday. “The State Department has made a determination approving a possible Foreign Military Sale to the Kingdom of Saudi Arabia for […]
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Mohammed Bin Salman Departs U.S. for France, Sends Cable Thanking U.S. and Obama for Hospitality
- June 27,2016
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- SUSTG Team
Saudi Deputy Crown Prince Mohammed bin Salman sent a cable of thanks to US President Barack Obama on Sunday as he concluded his visit to the United States. “I am pleased as I am leaving your friendly country after the end of my official visit to extend to Your Excellency my deep thanks for the […]
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Deputy Crown Prince, Delegation Meet with Ban Ki Moon at the United Nations
- June 23,2016
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- SUSTG Team
Deputy Crown Prince Mohammed bin Salman and an eight-member delegation arrived at the U.N. yesterday for meetings with the Secretary General, Ban Ki Moon. The Prince and his delegation reportedly discussed Mr. Ban’s decision to cite the Saudi-led military coalition in the Yemen conflict for violating the rights of children. According to the New York Times, Prince Mohammed […]
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Deputy Crown Prince Mohammed bin Salman, Minister of Commerce Majed Al-Qasabi Tour Facebook, Meet with Mark Zuckerberg
- June 23,2016
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- SUSTG Team
Saudi Arabia’s Deputy Crown Prince, Mohammed Bin Salman, met Facebook Inc. Chief Executive Officer Mark Zuckerberg during a tour of Silicon Valley before departing for New York. The Deputy Crown Prince was given a tour of Facebook’s headquarters in Silicon Valley and was accompanied by the Saudi Minister of Commerce, Dr. Majed al-Qasabi. Prince Mohammed […]
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Concluding Trip to Silicon Valley, Deputy Crown Prince Mohammed bin Salman and Delegation Ink MOU with Microsoft
- June 22,2016
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- SUSTG Team
Saudi Deputy Crown Prince Mohammed bin Salman met with Satya Narayana Nadella, chief executive officer of Microsoft, at the company’s Silicon Valley offices in San Francisco on Tuesday and signed two deals with the IT giant, according to reports. The first MOU between Saudi Arabia and Microsoft “will train young Saudis and will support Saudi Arabia […]
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Deputy Crown Prince Mohammed bin Salman Meets with President Obama, Receives Praise for “Vision 2030”
- June 20,2016
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- Lucien Zeigler
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman met with President Obama on Friday at the White House to discuss regional and economic issues with the President, Vice President and other members of Obama’s cabinet. The President “commended” Prince Mohammed’s “Vision 2030” plans to reform Saudi Arabia’s economy and society, according to a readout. “The […]
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Deputy Crown Prince Mohammed bin Salman Meets with Defense, U.S. Chamber of Commerce Officials
- June 17,2016
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- SUSTG Team
U.S. Defense Secretary Ash Carter hosted an enhanced honor cordon yesterday to welcome Deputy Crown Prince Mohammed bin Salman, Saudi Arabia’s defense minister, at the Pentagon in Washington, D.C. The two leaders and other defense officials from both the U.S. and Saudi Arabia met “for a series of constructive meetings and briefings,” the Pentagon said in […]
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Deputy Crown Prince Mohammed Bin Salman Arrives in Washington to Busy Schedule
- June 13,2016
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- SUSTG Team
Deputy Crown Prince Mohammed bin Salman lands in Washington, D.C. today with a tightly packed agenda planned for his 4-day visit in the nation’s capital. The Deputy Crown Prince who is also Minister of Defense and head of the powerful Council on Economic and Development Affairs (CEDA) will meet with U.S. Secretary of State, John Kerry, […]
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As Vision 2030 Details are Rolled Out, International Banks and Others Look for Opportunities
- June 8,2016
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- Lucien Zeigler
International banks are jockeying for a role in Saudi Arabia’s plans to list part of state-owned Saudi Aramco for an Initial Public Offering (IPO), according to a report in Reuters. Financiers around the world are keen to cash in on a cornerstone of the recently-announced “Vision 2030” economic and social plan, with banks preparing for […]
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Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman to Visit Washington Mid-June
- June 6,2016
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- SUSTG Team
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman will visit Washington, D.C. and other cities in the U.S. in June, as the influential Saudi official plans to discuss both foreign policy and economics, according to sources cited by several news outlets. Because Prince Mohammed is both Minister of Defense and President of the key Council […]
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MUST-READS
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Commentary: In MBS’s Saudi Arabia, tech, not oil, is the hot new thing
“When MBS went on and invested in Uber and SoftBank Vision Fund publicly, these were big moves; they were visionary moves,” said Mohammed Aldhalaan, CEO and founder of a Saudi edtech company called Noon Academy. “They were telling everyone Look, the highest authority in the country believes in startups, believes in technological transformation — and that had a huge impact on the country,” he said. “There’s no doubt about it.”
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Commentary: MBS Wants Saudi Arabia Fund to Reach $2 Trillion in Assets
The crown prince’s ambitious plan for the Public Investment Fund would change the kingdom’s dependence on oil while creating the world’s largest pool of institutional money, but questions remain.
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Saudi Aramco Shares Rise as Crown Prince MBS Prioritizes Spending Over Dividends
The dividend cut won’t impact minority shareholders, the crown prince said. The government had promised they would get their share of the total payout for five years after Aramco sold a small stake in its 2019 initial public offering.
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Qatar’s Amir, Saudi Arabia’s MBS discuss ‘green initiatives’ in phone call
The royals also tapped into road map to address challenges, including “clean energy, reforestation and natural reserves, in order to achieve a significant reduction in carbon emissions, preserve biodiversity, and enhance public health and quality of life”.
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White House defends decision not to punish Saudi crown prince MbS
“That is what diplomacy looks like. That is what a complicated global engagement looks like and we’ve made no secret and have been clear that we are going to hold them accountable on the global stage,” Psaki said, adding that the administration took steps through the Treasury and State Department.
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Oil climbs to 13-month high on output cuts, weaker dollar
Oil prices scored their seventh straight session of gains for both benchmark contracts on Tuesday, hitting their highest since late January 2020, as supply cuts by major producers and optimism over a recovery in fuel demand support energy markets.
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US clears sale of AH-64Es to Kuwait, smart bombs to Saudi Arabia
The US government has cleared four potential Foreign Military Sales (FMS) to Egypt, Kuwait, and Saudi Arabia. The four FMS cases were posted by the Defense Security Cooperation Agency (DSCA) on 29 February.
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U.S. Arms Sale to Saudis Advances Amid Uproar Over Smart Bombs
The State Department notified Congress that it’s moving to issue a license for the sale of 7,500 precision-guided, air-to-ground munitions valued at $478 million to Saudi Arabia, according to two officials familiar with the issue. Raytheon Technologies Corp. can sell the weapons directly to the Saudi government after receiving the license, which will likely be issued before the Biden administration takes office Jan. 20. Details of the proposed sale were informally briefed to lawmakers in January and drew the criticism of Democratic lawmakers who declined to clear the license.
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Saudi Arabia Bombs Houthi Rebels In Response To Aramco Attack
The coalition led by Saudi Arabia bombed camps of the Houthi rebels in Yemen on Friday after Houthis hit a petroleum distribution center of oil giant Saudi Aramco near Jeddah earlier this week, AFP reported on Friday, citing its correspondents and eyewitnesses. The Saudi-led coalition hit sites believed to be holding rebels of the Iran-aligned Houthi movement in the Yemeni capital Sanaa, the port city of Hodeida, and the city of Amran north of Sanaa, AFP reports.
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Saudi Pharma Climbs to Five-Year High on Covid Pact With CureVac
The shares closed 5.5% higher in Riyadh, taking the gain for the year to 58%. The benchmark Tadawul index rose 0.2%. The non-binding memorandum of understanding with CureVac includes the possibility of extending the supply and distribution rights in the United Arab Emirates, Kuwait, Bahrain, and Oman, the company said. Saudi Pharmaceutical said it’ll determine the financial impact of the deal after obtaining approvals and signing the final deal.
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