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Saudi Arabia’s Energy Pivot to Asia ‘May Result in Lower Crude Prices’, Analyst Predicts
Saudi Arabia is starting to focus more on Asian destinations for its crude, which may result in lower costs to the region, writes Clyde Russell in a Reuters analysis. “The Saudis aren’t exactly retreating from the North American and European markets, but they seem to have read in the tea leaves the trend that physical […]
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John Sfakianakis Hired by London-Based Ashmore Group PLC to Lead Middle East Expansion – Report
Bloomberg’s Matthew Martin reports that veteran banker John Sfakianakis has been hired by UK-based Ashmore Group PLC to head expansion into the Kingdom ahead of Saudi Arabia’s market opening. According to the report, citing unnamed sources, Sfakianakis will be director for the GCC for Ashmore. Sfakianakis is a frequent contributor to SUSTG.com.
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US Training Teams Arrive in Saudi Arabia As Brass Praise Arab ‘Professionalism’ in Coordinated Strikes
US Secretary of Defense Chuck Hagel and Chairman of the Joint Chiefs of Staff, Army Gen. Martin E. Dempsey announced at a joint press conference that U.S. trainers have arrived in Saudi Arabia to assist in the development of moderate Syrian rebels, the Voice of America reports. “Opposition fighters are being vetted by U.S. military, […]
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Saudi Arabia’s Latest Record: The World’s Tallest Flagpole
Move over, Tajikistan: Saudi Arabia now has the world’s tallest flagpole. In Jeddah this week, Makkah Governor Prince Mishaal bin Majed presided over the unfurling of Saudi Arabia’s national flag on the world’s tallest flagpole – a new Guinness World Record for the Kingdom. Soaring over nearby high rises, the flagpole can be seen for miles […]
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Jamal Khashoggi on the BBC News Hour: Saudi Arabia Will Continue to Fight IS ‘Short of Sending Ground Troops’ [Audio]
In an interview on the BBC News Hour, Saudi journalist Jamal Khashoggi addressed the latest developments in the joint U.S.-Arab military action against Islamic State positions in Iraq and Syria. “Saudi Arabia is already at war with ISIS since 2003, when IS was still Al Qaeda, so it is the same thing – the same […]
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UAE Fighter Pilots who Bombed IS in Syria Led by Female Commander
A Saudi Prince and a female fighter pilot from the United Arab Emirates took part in this week’s airstrikes on the Islamic State in Syria, according to reports and photos emerging on the social networking site Twitter. Fighter pilots from the UAE’s air force were led by Maj. Mariam Al Mansouri, a female commander of the […]
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IMF Report on Saudi Arabia Cites Growth, Finds Near-Term Outlook ‘Positive’ but Warns of Deficit in 2015
A recently released detailed report on the economy of Saudi Arabia by the IMF finds the Kingdom’s current economic situation is on solid footing with near-term growth expected to continue, but warns of a looming fiscal deficit in 2015. “Saudi Arabia’s economy has grown very strongly in recent years, benefitting from high oil prices and output, […]
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‘Security, Lack of Co-Operation’ to Blame in Delay of Newcomers to Saudi’s Mobile Market, Report Finds
Reuters reports that state security requirements and a lack of co-operation from Saudi Arabia’s existing telecom operators have delayed the launch of two new mobile companies until later this year, citing their chief executives. “VMMEA in March said it hoped to launch services in the first half of 2014, while Mobily initially said its Jawraa’s […]
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NCB’s October 19th IPO May be 2014’s Second Largest Behind Alibaba
Saudi Arabia’s National Commercial Bank is set to issue an IPO in October that might raise as much as 16 billion riyals ($4.3 billion), which would be the second largest of 2014 behind China’s Alibaba Group Holding Ltd., Bloomberg’s Matthew Martin reports. The IPO will list 300 million shares totaling 15% of the lender’s share capital, with an additional 200 million shares, […]
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LG Breaks a Record on way to King Khalid International Airport
It’s about 45 kilometers from Riyadh to King Khalid International Airport. For a couple kilometers during that trip you are now able to see the largest outdoor advertising structure ever. In fact, for about a quarter of a kilometer you will be passing right by it. LG built it to promote its G3 phone and […]
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Saudi crown prince, US national security adviser meet on bilateral deal
Saudi Crown Prince Mohammed bin Salman and White House National Security Adviser Jake Sullivan met to discuss an almost 'finalized' draft of a deal between Washington and Riyadh, the Saudi state news agency reported on Sunday.The meeting in the Saudi city of Dhahran reviewed "the semi-final version of the draft strategic agreements between the two countries, which are almost being finalised," a statement read.
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Iranian President Ebrahim Raisi, hardline ally of Supreme Leader, killed in helicopter crash
Iranian President Ebrahim Raisi, a hardliner seen as a potential successor to Supreme Leader Ayatollah Ali Khamenei, was killed after his helicopter crashed in poor weather in mountains near the Azerbaijan border, officials and state media said on Monday.The charred wreckage of the helicopter which crashed on Sunday carrying Raisi, Foreign Minister Hossein Amirabdollahian and six other passengers and crew was found early on Monday after an overnight search in blizzard conditions.
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Unveiling “The Clean Hydrogen Economy and Saudi Arabia”: A Roadmap to Energy Leadership
Faculty and researchers from King Abdullah University of Science and Technology (KAUST) and King Abdullah Petroleum Studies & Research Center (KAPSARC) have unveiled a new publication: "The Clean Hydrogen Economy and Saudi Arabia." With a foreword by KAPSARC President Fahad Alajlan and KAUST President Tony Chan and co-edited by KAUST research scientist Dr Saumitra Saxena, this book charts new energy discourse, offering a comprehensive analysis of the emerging global hydrogen economy through the lens of one of the world's foremost energy providers, Saudi Arabia.
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Surf’s up in the Saudi desert: Huge water park joins Qiddiya giga-project
Aquarabia is part of the larger Qiddiya giga-project near the country's capital Riyadh, which is being headed by the Bjarke Ingels Group. We've no word on the water park's exact size, but from the renders at least, this thing looks huge, and is described as the largest of its kind in the region.
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Awakening the sleeping giant: How Saudi Arabia plans to attract more foreign tourists
Saudi Arabia plans to become a travel hot spot, ploughing $800 billion in tourism investments to develop the sector and setting a revised target of attracting 150 million visitors by the end of the decade. But a key part of that effort is luring international travellers to explore the lesser-discovered country.
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Hezbollah introduces new weapons and tactics against Israel as war in Gaza drags on
Hezbollah has regularly fired missiles across the border with Israel over the past seven months, but the one on Thursday appears to have been the first successful missile airstrike it has launched from within Israeli airspace. The group has stepped up its attacks on Israel in recent weeks, particularly since the Israeli incursion into the southern city of Rafah in the Gaza Strip. It has struck deeper inside Israel and introduced new and more advanced weaponry.
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Ranked: The World’s 50 Largest Private Equity Firms
In 2023, private equity firms controlled $8.2 trillion in assets globally according to McKinsey & Company, a figure that has rapidly expanded since the industry first emerged 40 years ago. As large investors such as pension funds and insurance companies increasingly look to private markets, these alternative asset managers have seen their assets grow by more than twofold in the last five years.
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This 256 km highway in Saudi Arabia is world’s longest road without a bend
Saudi Arabia's Highway 10 has emerged as the world's longest straight road, surpassing Australia's Eyre Highway, according to the Guinness World Records. This achievement marks a significant milestone in transportation infrastructure, offering travellers an unparalleled journey across vast distances with unobstructed views. This 256-kilometre (159-mile) asphalt stretch cuts through the vast Rub Al-Khali desert, also known as the Empty Quarter, the largest sand desert in the world, without any bends left or right, or any appreciable gradient up or down.
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Saudi experts on urban heritage give lectures in Paris
Experts on urban heritage from Saudi Arabia are giving a series of lectures on the topic at the UN Educational, Scientific and Cultural Organization offices in Paris. Organized by the Saudi Heritage Commission, the program of four lectures explores some of the initiatives developed by the organization and the wider strategies on urban heritage in the Kingdom, the Saudi Press Agency reported. The first lecture delved into material and intangible methods for preserving urban heritage, while the second looked at the development of traditional architecture in Al-Ahsa.
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Commentary: Religious tolerance is at the core of the Gulf’s strategic thinking
It has become fashionable for many modern secularists to demonise religion as being a major barrier to peace. When they learn someone is devout, it often wrongly conjures up images of extreme confessional intolerance, such as the Spanish Inquisition torturing suspected heretics based on flimsy evidence. It is perhaps not a surprise, then, that the significant role religion plays in daily life in Gulf countries – including the political and legal systems – occasionally draws antipathy and hysterically negative media coverage in the West.
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