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Royal Decree May Ease a ‘$67B Housing Logjam’ in Saudi Arabia, Reuters Reports
- April 24,2013
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- Lucien Zeigler
Reuters is reporting that last week’s Royal Decree to tackle Saudi Arabia’s housing program has removed “an obstacle to a $67 billion program to ease the country’s housing shortage,” which “may push the program forward by opening up thousands of acres of state-owned land for construction.”
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Defense Secretary Hagel in Riyadh, Greeted by Saud al-Faisal and Amb James Smith
- April 23,2013
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- Lucien Zeigler
SUSRIS reports that US Defense Secretary Chuck Hagel arrived in Riyadh on Monday.
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PHOTOS: Riyadh Hit by Heavy Rains, Floods; Several Dead and Millions in Damage
- November 19,2013
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- Lucien Zeigler
The streets of the Saudi Arabian capital Riyadh were inundated with water after a rare rainstorm dumped two hours of rain onto the desert city, leaving at least four dead, many more missing, and millions in damage. Photos published on social media outlets and in the Saudi press show the extent of the damage to […]
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Private Sector in the Middle East Conference to Begin Tuesday in Riyadh at Council of Saudi Chambers
- December 2,2013
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- Lucien Zeigler
The Council of Saudi Chambers of Commerce and Industry will host a new conference, the Private Sector in the Middle East (PSMEC) in Riyadh on Tuesday, December 3rd, 2013.
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Saudi Arabia to Shift Weekend to Friday Start
- April 22,2013
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- SUSTG Team
Pending approval from the Council of Ministers, Saudi Arabia could soon join its GCC neighbors in establishing a Friday-Saturday weekend. Oman will officially shift its weekend beginning this May leaving only Saudi Arabia to make the transition. The current Thursday-Friday weekend has long been considered a drag on the Saudi economy and the Ministry of […]
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Suspect Journalism: The New York Post’s Shoddy Saudi Student Reporting
- April 18,2013
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- Lucien Zeigler
A Saudi student studying in the United States on the King Abdullah Scholarship Program was injured in the Boston Marathon bombing on Monday. The student was one of at least two Saudi nationals hospitalized as a result of the attack. One of the victim’s friends told Al Arabiya that an amputation was almost required but […]
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Should the U.N. Security Council have a Permanent Seat for Arab States?
- November 11,2013
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- SUSTG Team
In the wake of Saudi Arabia’s decision to turn down a non-permanent seat on the U.N. Security Council, Saudi Arabia’s Ambassador to the United Nations Abdallah Yahya A. Al-Mouallimi is calling for Arab states to be permanently represented on the U.N.’s most powerful body and for veto power to be eliminated.
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Ease of doing business: Saudi Arabia Drops 4 Slots to 26th Overall in World Bank Ranking for 2014
- October 29,2013
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- Lucien Zeigler
Saudi Arabia is second in the Middle East in the World Bank’s Ease of Doing Business report and 26th overall, according to the recently released 2014 report. The placement represents an overall drop of 4 slots in the coveted ranking since 2013, when the Kingdom was ranked 22nd overall.
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Saudi Arabia Sees Limited Impact from US Shale Oil While SABIC Eyes Gas
- April 14,2013
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- Lucien Zeigler
According to this report by Summer Said in the Wall Street Journal, a close advisor of Saudi Arabia’s Minster of Petroleum and Natural Resources Ali Al Naimi said that the production of oil from shale will be “too limited and costly” to make a significant impact on the interests of exporters, but that the so-called […]
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Photos of Saudi Arabia’s Impressive Pavilion at the Hannover Industrial Forum in Germany
- April 11,2013
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- Lucien Zeigler
Saudi Arabia’s presence at the Hannover Industrial Forum, which took place in Hannover, Germany this week, is worth seeing. The Kingdom constructed a massive pavilion to show off business opportunities in Saudi Arabia and provide a networking platform for visitors of the expo in Hannover, Germany.
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MUST-READS
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New video and documents revive questions about Saudi role in 9/11 attacks
The video, which was unsealed in federal court last week, was a self-narrated video that shows Al-Bayoumi giving a tour of landmarks in Washington, DC. The video was shot over several days in 1999 and included footage of entrances, exits and security checkpoints in the U.S. Capitol.
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Saudi-backed Almar Water seeks lithium partnership in Chile, CEO says
Almar Water Solutions, part of Saudi Arabian group Abdul Latif Jameel, is looking to form a partnership with Chile's state mining giant Codelco in its planned Maricunga lithium mining project, Almar's chief executive said on Tuesday. The Spain-based firm, which focuses on water solutions for renewable energy production, wants to leverage its technology in the extraction of battery-metal lithium, a water-intensive process, CEO Carlos Cosin told Reuters.
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The Gwadar-Chabahar Standoff
The involvement of two global powers in projects situated within a proximity of just over 100 miles presents a notable geopolitical dynamic: the Gwadar port in Pakistan, spearheaded by China, and the Chabahar port in Iran, backed by India. The question arises: Will the enduring rivalries between India and China extend to these strategically significant ports?
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At Least 11 Americans Among Those Dead in Hajj Pilgrimage to Saudi Arabia
The couple were among the more than 1,300 people who died while making the annual pilgrimage to the holy city of Mecca, as temperatures reached 120 degrees at times. The Saudi government said that the vast majority of them did not have permits.
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Saudi’s Arabian Mills plans to list 30 percent stake in IPO
Saudi Arabia’s Arabian Mills for Food Products is planning to list 15.4 million shares, equal to a 30 percent stake, on its local bourse, according to a statement by the Saudi Capital Markets Authority (CMA). The CMA has approved Arabian Mills’ public listing application, and the company will publish the IPO prospectus “within sufficient time prior to the start of the subscription period.” However, the CMA did not provide a timeline for the listing.
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Saudi Arabia launches ‘unprecedented’ geographical survey of renewable energy sites
Part of the National Renewable Energy Program, the ambitious project will identify the best sites to develop renewable energy projects throughout the country. Contracted companies will install 1,200 stations across all regions of the kingdom to measure solar and wind energy. Beginning this year, Saudi Arabia will tender new renewable energy projects with a capacity of 20 GW annually.
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Saudi, Chinese defense ministers discuss ways to strengthen relations in Beijing
Several high-ranking Saudi officials attended the meeting. They included Chief of the General Staff Lt. Gen. Fayyad Al-Ruwaili, Saudi Ambassador to China Abdulrahman Al-Harbi; Commander of the Strategic Missile Force Lt. Gen. Jarallah Al-Alweet, Director General of the Office of the Minister of Defense Hisham bin Abdulaziz bin Saif, Head of the Armed Forces Operations Authority Maj. Gen. Misfer Al-Ghanem, and Military Attaché at the Saudi Embassy in Beijing Commodore Salem Al-Maliki.
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UAE, Saudi short-term rentals attract record travelers as year-round demand skyrockets for Dubai, Abu Dhabi, Riyadh real estate
Global and regional rental service-providing firms are gearing up for a surge in the influx of visitors and business travellers to the UAE and Saudi Arabia during the current summer season and beyond, as the two countries shift strategies to make cities such as Dubai, Abu Dhabi and Riyadh year-round destinations for travellers.
- As climate change imperils Taliban’s shift from opium, impact could be felt worldwide
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Are Saudi Arabia’s plans for a non-oil future too grand?
In March, the Saudi government transferred 8% of shares in state-owned oil company, Aramco, to the PIF. This means the PIF now holds 16% of Aramco, valued at $2 trillion, making it the fourth-most valuable company in the world. Critics have also pointed to the fact that, even though the PIF manages a portfolio of assets worth $940 billion, it only has about $15 billion in funds.
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