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Saudi Research and Marketing Group, UK-Based Independent Ink Media Deal
- July 24,2018
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- SUSTG Team
Last week, the Saudi Research and Marketing Group (SRMG) and the UK-based Independent announced an exclusive licensing deal that will lead to the creation of four new online news services offering “the highest-quality, free-thinking, independent news, insight and analysis on global affairs and local events,” according to reports. SRMG, the middle east’s biggest publisher whose mastheads […]
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KAPSARC Report: The $200 Billion Annual Value of OPEC’s Spare Capacity to the Global Economy
- July 20,2018
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- SUSTG Team
A recent peer-reviewed report by the King Abdullah Petroleum Studies and Research Center (KAPSARC) finds that OPEC’s spare capacity reduces oil price volatility and generates between $170 and $200 billion of annual economic benefits for the global economy. “Rising international oil prices and increased geopolitical uncertainty have put OPEC’s spare production capacity back into the spotlight,” […]
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For the Third Time in 9 Months, IMF Raises Saudi Growth Forecast
- July 17,2018
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- SUSTG Team
The International Monetary Fund on Monday raised its growth forecast for the Saudi Arabian economy on the back of higher oil prices. In the organization’s World Economic Outlook update, the IMF said the Saudi economy — which contracted by 0.9 percent last year — would grow by 1.9 percent in 2018, up 0.2 percentage points […]
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Report: Saudi to Invest $10b in South Africa’s Economy
- July 13,2018
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- SUSTG Team
Saudi Arabia will invest at least $10 billion in South Africa, mostly in the energy sector, including building oil refineries, Reuters reports, citing the spokeswomen for South Africa’s president Cyril Ramaphosa said on Thursday. The pledge was made by Saudi Crown Prince Mohammed bin Salman during an official visit by President Ramaphosa and government ministers […]
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Financial Sector Development Program: Delivery Plan 2020
- July 6,2018
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- SUSTG Team
A recently released report from Jadwa Investment shines light on the Saudi Arabia’s Financial Sector Development Program (FSDP), which was announced in April of this year. “In many ways, the FSDP is one of the most important Vision Realization Programs (VRPs), in that the success of the other 11 VRPs are wholly dependent on it,” […]
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‘The Worst May be Over for Saudi Economy’ as GDP Growth Returns
- July 2,2018
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- SUSTG Team
Rising oil prices and a surge in the non-crude sector jolted the Saudi economy back to life in the first quarter of this year, according to reports, as economists and analysts say the worst might be over for the Kingdom after enacting tough but needed economic reforms. The Kingdom’s GDP grew for the first time […]
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Saudi Arabia, Russia to Jointly Invest $2 Billion in Tech Following Crown Prince, Putin Meeting
- June 19,2018
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- SUSTG Team
Saudi Arabia and Russia will jointly invest $2 billion in technology projects next year, according to reports, following the visit of Crown Prince Mohammed bin Salman to Russia at the start of the World Cup last week. Russia’s RIDF, the country’s sovereign wealth fund, and Saudi Arabia have already allocated $10 billion for investment with $2 billion […]
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Saudi Arabia, UAE and Kuwait Come to Jordan’s Aid with $2.5b after Weekend Summit
- June 11,2018
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- SUSTG Team
Saudi Arabia and two Gulf nations agreed to a $2.5b aid package to help support Jordan’s economy after a proposed income-tax increase sparked some of the largest protests seen in the region since the Arab Spring protests in 2011. The package of aid will include a deposit in the Central Bank of Jordan, guarantees to the World […]
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King Salman Extends Eid Al-Fitr Holiday Break
- June 7,2018
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- SUSTG Team
Saudi Arabia’s King Salman issued a directive to extend this year’s Eid Al-Fitr, the end of the Holy month of Ramadan holiday, to give government employees and military staff a full working week off to mark the holiday, which falls at the end of Ramadan. Although the exact start date of Eid has yet to be officially announced, […]
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Saudi World Cup Squad Beats Greece in Friendly, Will Play Cup Host Russia on June 14
- May 16,2018
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- SUSTG Team
Saudi Arabia’s World Cup squad won a friendly match against Greece 2-0 on Tuesday as the Kingdom sets its sights on its first tournament bid since since 2006. ESPN.com has an excellent breakdown of the Saudi team and how it got to secure its first World Cup bid in over a decade, since failing to qualify […]
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Anti-ISIS Campaign: CyberFighting ISIS Online: Can Cyber Activists Chase the Islamic State off Twitter?
In August 2014, a Twitter account affiliated with Anonymous, the hacker-crusader collective, declared “full-scale cyber war” against ISIS: “Welcome to Operation Ice #ISIS, where #Anonymous will do it’s [sic] part in combating #ISIS’s influence in social media and shut them down.”
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IranInvesting in Iran? You’d Better Like Tea, Cake and Bureaucracy
Isolated from the global economy for the past decade and with a population of 80 million, Iran is a fertile ground for business. But international investors will have to cope with obstacles including government control of as much as 70 percent of the economy, a judicial system deemed unfavorable to foreigners, a dual exchange rate and a culture in which tough negotiations often go hand-in-hand with doing business.
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Egypt23 years and millions of dollars later, will the Grand Egyptian Museum ever open?
In 1992, the Egyptian government announced the launch of a project to establish the Grand Egyptian Museum near the pyramids of Giza, in cooperation with the Belgian BESIX Group. The museum would cover a surface area of 117 acres, at an estimated cost of $550 million and a capacity to hold 100,000 archaeological pieces, making it one of the most prestigious museums in the world.
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TourismTourism to replace oil economy in Saudi Arabia?
Another economist present at Saudi's tourism event, Nasir bin Ogail Al Tayyar, estimated the volume of tourism market in the Kingdom as about 80 billion Saudi riyals -- $21.3 billion -- aside from the income derived from pilgrims travelling to the Islamic holy site Mecca.
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Weapons SalesUS Defense Sales Surge: Is Weapons Spending Increase In Europe, Middle East And Asia Prompted By Regional Turmoil?
Overall U.S. defense sales have plummeted in recent years, due in large part to the withdrawal of U.S. combat forces from Iraq and Afghanistan, as well as the forced sequestration in the federal budget. But continuing conflicts and tensions in parts of the Middle East, Europe and Asia have still kept international dollars lining the pockets of American military contractors.
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Middle East AviationJust What’s So Special About Those Middle Eastern Airlines?
So while these airlines do stand out in many departments, perhaps what really scares competitors about them is where they call home.
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Refugees: EUAfter hard journeys to Europe, who gets to stay?
Saying its generous system has become an incentive for more and more migrants to rush into Europe or die trying, Germany is preparing a new crackdown on those it says should leave. That has thrust this nation of 81 million to the center of the debate over perhaps the biggest question of the crisis: Of the hundreds of thousands of migrants coming, who gets to stay?
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Afghanistan - PakistanAmid Ongoing India-Pakistan Clashes, Is Diplomacy Possible?
Since becoming independent in 1947, India and Pakistan have fought three wars. Two of them have been over Kashmir, which they both claim in full but rule in part.
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Syria: RussiaDoes Putin Have a Plan for Syria?
If there was any doubt about who’s fueling this war, now Moscow reportedly plans to supply Assad with an annual 200,000 tons of liquefied petroleum gas through Kerch, a port in the Crimean peninsula, which Russia annexed from Ukraine in March 2014.
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War in YemenWhat does the return of Yemen’s exiled prime minister mean?
The newly returned government's focus will be on restoring security and stability, first to Aden and then to the country, an official told the Associated Press. Yemeni President Abed Rabbo Mansour Hadi remains in exile in Riyadh.
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