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  • Energy Subsidies in the Gulf a Staggering $160 billion Annually, World Bank Says
     

    Gulf states are spending an average of 10% of GDP on energy subsidies each year, a total of $160 billion, an IMF official said according to Arab News. “The GCC and other MENA states must start cutting energy subsidies now otherwise problems associated with them will get worse,” said Shantayanan Devarajan, chief economist for the World Bank in Middle […]

     
  • First Global Entrepreneurship Forum Kicks off in Riyadh, Saudi Arabia as Kingdom Eyes SME Growth
     

    The first Global Business Entrepreneurship Forum (GEF) was held in Riyadh, Saudi Arabia today to bring together top business and startup leaders to the Ritz Carlton Hotel near the Diplomatic Quarter in the Saudi capital.  Organized by the Centennial Fund, the GEF’s first event in Riyadh was a chance for entrepreneurs and others in the […]

     
  • Al-Jubeir: ‘Every Time the U.S. and Saudi Arabia Have Come Together, We have Done Wonders for the Region’
     

    In his luncheon keynote remarks to the National Council on US-Arab Relation’s annual policymaker’s forum in Washington, D.C., Saudi Arabia’s Ambassador to the United States Adel al-Jubeir discussed the historical and current status of the Saudi-U.S. relationship and it’s track record of success when facing regional and global challenges. Full video of his remarks can […]

     
  • At Policymakers Event, Prince Turki al-Faisal Takes Aim at Allegations of Saudi Support of Terror
     

    Saudi Arabia’s Prince Turki al-Faisal, Chairman, King Faisal Center for Research and Islamic Studies, Riyadh, Saudi Arabia and former Saudi Arabian Ambassador to the United Kingdom and to the United States of America, delivered sharp criticism of those who put forth unsupported allegations of Saudi financing of extremism abroad, urging them to come forward with […]

     
  • #FocusKSA: Power Subsidies and Electricity Supply in Saudi Arabia
     

    A clip from SUSTG.com’s recent FocusKSA discussion with Dr. Fahad al-Turki of Jadwa Investment highlights some challenges and opportunities in powering the Kingdom of Saudi Arabia.     Jadwa is a well-regarded, Shariah-compliant, investment firm based in Riyadh and Dr. Fahad spearheads a superb analysis team that publishes very informative reports such as it’s Chart […]

     
  • 23rd NCUSAR Policymaker’s Conference Begins Tomorrow in Washington
     

    The National Council‘s 23rd Annual Arab-U.S. Policymakers Conference begins tomorrow, September 28th-29th at the Ronald Reagan Building and International Trade Center in Washington, D.C. Saudis scheduled to speak at the event include HRH Prince Turki Al Faisal, H.E. Dr. Abdullah I. El-Kuwaiz and others.  For a full list of speakers and the agenda, click here. You can […]

     
  • Opinion: Teaching Religious Tolerance in Schools
     

    In recent months, much attention has been given to the expanding influence of jihadist groups and religious extremists in the Middle East. The rise of the Islamic State (ISIS) in Iraq has been attributed, in part, to former Prime Minister Maliki’s sectarian policies. The Houthis, a Shiite rebel group in Yemen have occupied Sanaa and […]

     
  • Murder of Abdullah Alkadi in California Hits Home for Saudi Students, Families
     

    The suspected murder-carjacking death of Saudi Arabian national Abdullah Alkadi has caused tremors through the vast, tightly-knit community of Saudi students in the United States. In comments to SUSTG, Ghadah Alghunaim, co-founder of the popular Saudi student social networking group, Saudis in USA, said that the event shook many Saudi students in the US and […]

     
  • Body of Saudi Student in the USA Abdullah Abdullatif Alkadi Found in California Desert
     

    Saudi students in the USA and others on social media are mourning Abdullah Abdullatif Alkadi, whose body was found in Palm Desert, California alongside a freeway more than a month after he disappeared. The 23 year old California State University, Northridge student was an electrical engineering student on the King Abdullah Scholarship Program. His brother […]

     
  • Saudi Labor Reform and a Supermarket Checkout Line
     

    Last month SUSTG featured a Summer 2014 Report Card analysing the Nitaqat Program to significantly increase the number of Saudis in the workforce.  In that article Nathan Field assessed the structural reform required simply to implement the Nitaqat initiative as well as the array of regulatory changes and their impact on the Saudi labor environment. In […]

     

MUST-READS

  • IEA: Global Investment in Clean Energy Set to Reach Record $2 Trillion in 2024

    Global investment in all types of energy is expected to top $3 trillion in 2024, with $2 trillion expected to go into clean energy and $1 trillion to oil, gas, and coal projects, the International Energy Agency stated in its “World Energy Investment 2024” report. However, this record investment in solar, electric vehicles, nuclear power, grids, and low-emission fuels is still not at the level needed to limit global warming to 1.5 degrees Celsius, it said.

  • Saudi foreign minister attends GCC ministerial meeting in Qatar

    Saudi Minister of Foreign Affairs Prince Faisal bin Farhan took part in the 160th ministerial meeting of the Gulf Cooperation Council in Doha on Sunday, the Saudi Press Agency reported. Prince Faisal was received at Doha International Airport by the Minister of State for Foreign Affairs of Qatar Sultan bin Saad Al-Muraikhi. Prince Mansour bin Khalid bin Farhan, the ambassador of Saudi Arabia to Qatar, and the GCC’s Secretary-General Jassim Mohammed Al-Budaiwi were also present.

  • Saudi Arabia set to raise more than $11.2 bln from Aramco stock offering

    Saudi Arabia is set to raise more than $11.2 billion after pricing its offering of Aramco (2222.SE), opens new tab stock toward the lower end of the targeted range, the Wall Street Journal reported on Thursday.
    Saudi Aramco's bankers have told investors it plans to price the shares at 27.25 Saudi riyals, or $7.27 each, according to the report.
    The stake sale, a first since Aramco's record-setting IPO in 2019, was announced last week in a landmark deal to help fund Crown Prince Mohammed bin Salman's plan to diversify the economy.

  • Saudi and Qatari universities lead the region in global education rankings

    Universities from Saudi Arabia and Qatar have been ranked the best in the Arab world in a new global higher education league table.

    Seven institutions across the region made the top 250 of the QS World University Rankings 2025, with three from Saudi Arabia and two from Qatar making up the top five in the Middle East.

    King Fahd University of Petroleum and Minerals led the way in 101st position – up from 180th last year – out of 1,500 universities worldwide.

  • As investment drive falters, Saudi milks Aramco ‘cash cow’

    "The cash raised will certainly help support government spending priorities. But it will ultimately be a fiscal booster more than a long-term cure for funding needs," said Robert Mogielnicki of the Arab Gulf States Institute in Washington. Saudi officials have since last year said the timeframe for some Vision 2030 projects would be extended, though they have not given details and said other projects would be accelerated. Finance Minister Mohammed al-Jadaan said last month that global "shocks" since Vision 2030's launch in 2016 -– wars in Ukraine and Gaza, the pandemic, inflation and supply chain disruptions –- had spurred a revision of reform plans. Read more: https://www.al-monitor.com/originals/2024/06/investment-drive-falters-saudi-milks-aramco-cash-cow#ixzz8cPnesbyH

  • How Fury-Usyk Saudi Arabia fight set up a future for boxing

    According to sources, Usyk-Fury generated upward of $50 million in pay-per-view revenue with 1.5-million-plus PPV buys (the vast majority from the U.K., where Fury is a megastar). The event also made $40 million in sponsorship and another $3 million-plus in ticket sales. All in -- production, fighter purses, entertainment, travel, etc. -- the event cost in the neighborhood of $120 million.

  • Saudi Arabia condemns storming of Al-Aqsa Mosque by Israeli officials, and extremist settlers

    Saudi Arabia on Wednesday condemned the storming of the Al-Aqsa Mosque in Jerusalem by a number of Israeli government officials, members of the Knesset, and extremist settlers. The Ministry of Foreign Affairs also condemned a move by Israeli authorities to allow extremists to organize a provocative march in the city of Jerusalem with the protection of the Israeli defense forces.

  • Will buyback scheme convince Iraqis to offload AK-47s, RPGs?

    In a bid to stem widespread armed violence, Iraq’s Ministry of Interior is pushing ahead with a program to encourage Iraqis to register or sell privately-owned weapons. In the latest phase of the four-year program, the government is now offering a buyback mechanism for arms such as rocket-propelled grenades (RPGs) and mortars.

  • Saudi Arabia plans to boost oil production capacity to 12.3 million bpd by 2028

    Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman, announced the Kingdom's ambitious plan to increase its oil production capacity to 12.3 million barrels per day by 2028. This significant expansion aligns with the Kingdom's strategic goals amidst evolving global energy markets. The announcement came during a special panel discussion at the St. Petersburg International Economic Forum in Russia. The forum, themed "The Future of the Oil and Gas Market: Global Demand Outlook and Producers' Plans," was attended by several OPEC and non-OPEC ministers. Prince Abdulaziz, who also serves as the chairman of the OPEC+ ministerial meetings, underscored the robust decisions made during the 37th OPEC and non-OPEC ministerial meeting held on June 2 in Riyadh.

  • PGA, Saudi-backed LIV in ‘active discussions’ one year after announcing proposed deal that rocked the golf world

    The PGA Tour and the Saudi-backed LIV Golf have been in active discussions, according to a person familiar with the matter, one year after the two entities stunned the world and announced on CNBC that they had agreed in principle to join forces. The talks between the tour and the Saudi Public Investment Fund, which backs LIV Golf, are “extremely active,” the person said.