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Recent stories from sustg
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Inflation, Unemployment Tick Up as Kingdom Seeks Path to Recovery for Economy – Report
Saudi Arabia saw an increase in unemployment and an uptick in inflation in recent months as the Kingdom seeks a pathway toward economic recovery following a period of low oil prices and the global Coronavirus pandemic, according to the most recent chartbook from Jadwa Investment.
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Saudi Government Lifts Suspension of Entry and Exit into Saudi Arabia for Residents, Visa Holders
The Government of Saudi Arabia announced changes effective September 15 that allow holders of current residence permits (known as “iqamas”) with a valid entry/exit visa as well as holders of a valid business or visit visa to enter (including exit and re-enter) Saudi Arabia, according to an advisory provided to SUSTG.
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New Digital Art Museum, with ‘Crowdpleasing Immersive Experiences’, to Launch in Jeddah in 2023
Tokyo-based multimedia collective group teamLab has signed a partnership agreement with Saudi Arabia’s Ministry of Culture to provide immersive experiences for a new digital art museum in Jeddah, according to reports, the latest investment by the Saudi government into the culture and lifestyle industry in the Kingdom.
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Saudi Electricity Co. Sells $1.3 Billion of Green Sukuk
Saudi Electricity Co. sold the first green bond in Saudi Arabia in what amounts to the “latest milestone in the expansion of environment-friendly debt instruments,” according to a report in Bloomberg.
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Report: Saudi Aramco Slows Diversification Plans Amid Lower Oil Prices, Dividend Pledge
Saudi Arabia’s state oil company Saudi Aramco is reviewing its diversification and investment plans domestically and internationally as lower oil prices and delivering on a promised dividend have put pressure on the company, according to an exclusive Wall Street Journal report.
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World Bank Pauses ‘Doing Business’ Reports as it Probes Data Collection, Review Irregularities
The World Bank will put on hold further publication of its widely-followed “Doing Business” reports after the organization said it will probe irregularities in data collection, according to Reuters.
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FTSE Russell Launches Saudi Arabian Government Bond Index
Global index provider FTSE Russell launched a bond index for Saudi Arabia to measure the performance of fixed-rate, local currency government bonds, according to reports and a statement from the FTSE.
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Lifestyle Hotel Brand Habitas to Open 3D Printed Hotel in Al-Ula
Habitas, the lifestyle hotel brand, will deliver a 100-room luxury resort in Al-Ula, Saudi Arabia that is in part 3D printed by the end of the year, joining other planned hotel groups that are emphasizing sustainability to the historic area.
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New Cases of COVID-19 Continue to Decrease in Saudi Arabia
New cases of the Coronavirus reported in Saudi Arabia continue to decline from peak points as the Kingdom sees progress in combatting the spread of the deadly virus, according to official data.
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Banyan Tree Resort Planned for Al-Ula, will Offer ‘Luxury Tented Villas’ in Area with Zero Light Pollution
Saudi Arabia’s Al-Ula will be home to Saudi Arabia’s first Banyan Tree resort, a luxury brand from Europe’s largest hotel group, Accor. The company will take over the Ashar Resort in the historic north-western city and the expanded property will offer luxury accommodation designed to complement the natural scenery of the valley, according to reports. The new resort will have […]
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MUST-READS
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Is the United States the new Saudi Arabia?
The U.S. oil industry will never act as one to manage the market or raise prices. In fact, such behavior is illegal under anti-trust law. But this is exactly how Saudi Aramco and the other OPEC members operate—it is the very purpose of OPEC.
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What’s Next for Saudi’s Elite After Leaving Ritz?
Was this a crackdown, a power grab, or a shakedown to help an economy strained by low oil prices? Is it the end of anti-corruption efforts in the largest Arab economy?
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Can Trump’s anti-Iran strategy survive hostilities with Turkey?
As Russia, Iran, and the US strive to establish facts on the ground to maximize their chances of shaping postwar Syria, Turkey is posing a challenge to a key piece of the Trump administration’s emerging policy.
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Commentary: Can the US still rely on Iraqi Prime Minister Haider al-Abadi?
His coalition announced that he will join forces with Iran-aligned militias that spear the Popular Mobilization Forces (PMF), the umbrella Shiite militia organization established in 2014 to fill the vacuum that was left by the collapse of Iraq’s armed forces when ISIS seized Mosul.
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Analysis: How Should the Pentagon Reshape Its Mideast Posture? Four Indicators to Watch
The Qatar flap will hardly be the region’s final challenge to U.S., allied and partner interests. In this second piece in a series, we look at various plausible scenarios that may arise in the next 10 to 15 years, and what they suggest about U.S. force posture.
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Israel’s Greatest Enemy: Iran, or Overconfidence?
On the wall of Amos Yadlin’s office at the Institute for National Security Studies in Tel Aviv, there is a framed Time magazine cover displaying an F-16A fighter jet -- the plane Yadlin flew in 1981 when, as one of eight Israeli pilots, he destroyed Saddam Hussein’s nuclear reactor.
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A new U.S. air blitz in Afghanistan isn’t stopping for winter. But will it stop the Taliban?
But for the first time in 16 years, the cold has not slowed the war in the air. U.S. and Afghan forces conducted 455 airstrikes in December, an average of 15 a day, compared with just 65 the year before. Even in December 2012, when there were nearly 100,000 U.S. troops in Afghanistan, barely 200 strikes took place.
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Commentary: What Now for the Saudi Corruption Purge?
At the last publicly disclosed count in early December, there were 159 detainees in the Ritz, though some have been released since then. The Saudi authorities said they want financial settlements in exchange for their freedom, and pitched the campaign as a much-needed break from corrupt business practices. No charges have been made public.
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Jeddah Tower: What does the world’s next tallest skyscraper look like now?
When CNN visited the site at the end of 2017, the tower was 252 meters (826 feet) high and already had expansive views of the kingdom.
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Commentary: Will Iraq Realign Toward Saudi Arabia in 2018?
Saudis are focusing not only on forging political ties with Iraq but also on strengthening bilateral trade and economic links. Officials in Riyadh realize that a long-term relationship with Iraq can be viable only if it is rooted in an economic partnership.
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