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Gradual Private Sector Recovery Underway in Saudi Arabia, Latest Data Indicates – Jadwa Investment
Saudi Arabia’s private sector is beginning to see signs of a gradual recovery, with non-oil PMI rising for the second consecutive month in October, Jadwa Investment says in its latest monthly Chartbook for the Saudi economy.
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G20 Saudi Secretariat Announces Digital Summit to Discuss Inclusive Growth in Aftermath of Covid-19
The G20 Saudi Secretariat as part of the International Conference program announces a four-day digital event series to explore how businesses, governments, and citizens can drive opportunities for inclusive growth through regulation, new technologies, and long-term strategic approaches in the aftermath of the Covid-19 pandemic.
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Road to the G20: Saudi Arabia Hosts Space Economy Leader Meeting
Saudi Arabia’s Space Commission organized 2020′s first meeting of space agency leaders that belong to G20 countries, as part of its chairmanship of the G20 this year.
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Lower Oil Revenue Strains Saudi Fiscal Outlook in 2020; 2021-22 Revenue Forecasts ‘Virtually Unchanged’ — Jadwa Investment
Saudi Arabia announced last week its preliminary budget statement for the 2021 fiscal year, and adjusted downward its revenue forecasts for 2020 in the face of low oil prices and the global pandemic, Jadwa Investment writes in an update.
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Road to the G20: Delegates at U20 Mayors Summit in Riyadh Discuss Transformation of Urban Energy Systems Using Renewables
The 3-day virtual Urban 20 (U20) meeting concluded today as mayors around the world collaborate on ideas and policies that will shape the world’s cities in the years to come.
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Coronavirus, Lockdowns, Low Oil Prices Take Toll on Saudi Economy in 2Q 2020 — Report
Saudi Arabia’s economy contracted 7% year-on-year in the second quarter of 2020 as the toll wrought by the Coronavirus pandemic and lower oil prices becomes clear, according to Bloomberg.
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Road to the G20: This Week’s Events include Energy, Urban-Focused Meetings
SUSTG is covering the events and meetings taking place in the run up to the G20 in November as part of our “Road to the G20” series of posts and featured items.
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Road to the G20: This Week’s Events include Trade, Science-Focused Meetings
SUSTG is covering the events and meetings taking place in the run up to the G20 in November as part of our “Road to the G20” series of posts and featured items.
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OPEC Revises Downward Outlook for Global Oil Demand as Coronavirus Weighs on Crude Recovery
OPEC has downwardly revised its outlook for global oil demand to an average of 90.2 million barrels per day in 2020 (down 9.5% from last year) as the Coronavirus weighs on crude recovery, according to reports, citing a recent publication from OPEC on Monday.
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King Salman, President Trump Speak by Phone; Discuss ‘Fair and Permanent’ Solution to Israel-Palestinian Peace
Saudi Arabia’s King Salman and President Trump spoke by phone over the weekend, discussing several issues of importance to the U.S.-Saudi relationship, including a recent push by President Trump’s son-in-law Jared Kushner to make progress resolving the Israel-Palestine issue.
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MUST-READS
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‘Top Chef Middle East’ Moves to Saudi Arabia’s Neom Hub for New Season
“Top Chef Middle East,” the hit Arabic-language adaptation of Bravo’s TV series, is moving to Saudi Arabia’s innovative Neom production hub. Leading Middle East broadcaster MBC – which is Saudi-owned – is teaming up with Neom Media Industries to launch production of the eighth season of the reality culinary contest near the planned futuristic city known as “the Line.”
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Saudi Arabia’s unemployment rate holds steady at 3.5% in Q1
Notably, labor force participation among Saudis increased by 1.0 percentage points to reach 51.4%, indicating a growing willingness to enter the workforce. The data reveals a significant improvement for Saudi men. The employment-to-population ratio climbed to 63.6%, while the unemployment rate fell to 4.2%, suggesting a successful integration of men into the job market.
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Recap of Sedrah and NextGenAI Hackathons (in Saudi Arabia)
The way hackathons generally work is that they are short 1–3 day events focused around a certain theme. Participants form teams to build a prototype (usually from scratch) in that time, and present at the end for the judges to evaluate.
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Saudi Aramco holds OSPs for LPG in July steady, Sonatrach raises it by 11-18%
Saudi Arabia's state oil producer Aramco (2222.SE), opens new tab left unchanged official selling prices (OSPs) for liquefied petroleum gas in July, while Algeria's Sonatrach raised OSPs for LPG by 11-18% due to a rising demand from the Mediterranean region, traders said. Aramco's July OSP for propane was stable at $580 per metric ton , as well as for butane, at $565 per ton. Propane and butane are types of LPG with different boiling points.
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Saudi Arabia will require unified charging ports for portable electronics
In Saudi Arabia, the authorities, represented by SASO, have announced the decision to standardize charging ports for portable electronic devices sold within their country. The decision will take place in two phases. The first phase will begin on 1 January 2025 and includes devices with totally 18 HS Codes, covering mobile phones, tablets, digital cameras, e-readers, portable video game devices, headphones, earphones, amplifiers, keyboards and computer pointer devices, in addition to portable navigation systems, portable speakers and wireless routers. The second phase shall start 1 April 2026 and will include laptops.
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MBC Group picks new Saudi location for Season 8 of “Top Chef”
Production of the new season of “Top Chef” will take place in the NEOM Media Village, home to four world-class sound stages and resort-style lodgings for cast & crew, with every episode featuring rigorous challenges designed to push the chefs’ skills to the limit.
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Saudi unemployment rate continues its downward trend, reaching 7.6% in 1Q 2024
The unemployment rate for all Saudis continued its downward trend after recording a drop to 7.6 percent in the first quarter of 2024 compared to 7.8 percent during the fourth quarter of 2023. This rate became close to more than the Vision 2030 target, which has been set at seven percent, according to the Labor Market Bulletin for the first quarter of 2024, released on Sunday, by the Saudi General Authority for Statistics (GASTAT).
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Saudi Foreign Ministry highlights women empowerment in diplomacy
The Kingdom’s Foreign Ministry held a seminar here on Sunday titled “The Role of Women in Diplomatic Work,” the Saudi Press Agency reported. The event at the Prince Saud Al-Faisal Institute for Diplomatic Studies was held to mark last week’s UN International Day of Women in Diplomacy. Among those who attended were Saudi Arabia’s Deputy Foreign Minister Waleed bin Abdulkarim Al-Khuraiji, female ambassadors to the Kingdom, and members of the foreign diplomatic corps.
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Who does Saudi Arabia play in 2026 FIFA World Cup qualifiers?
Saudi Arabia learned its 2026 FIFA World Cup qualifying fate on Thursday as the Green Falcons were handed a tough third round group that includes fellow Asian heavyweights Australia and Japan. Roberto Mancini’ side, which labored to a second place finish behind Jordan in second-round qualifying, will need to improve if it is to claim a spot at the World Cup finals in the USA, Canada and Mexico in two years’ time.
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Saudi Arabia expands footprint in Djibouti with major investment projects
The Saudi Ajyal Petroleum and Energy Company laid a cornerstone for the $12.7 billion refinery project in Djibouti Damerjog International Park (DDIP), south of the country’s capital, earlier this week with the presence of Abdoulkader Kamil Mohamed, the Prime Minister of Djibouti. An agreement to create Saudi Logistics City in the Djibouti port free zone was reached earlier this month by a group of Saudi businessmen.
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