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Recent stories from sustg

  • The emergence of Google
     

    Saudi Arabia is one of the biggest Internet markets not only regionally but also globally. There are 190 million video views on YouTube in Saudi per day. That’s the highest number of YouTube views in the world per Internet user. The average user in Saudi watches three times as many videos a day compared to […]

     
  • Saudi Arabia All Atwitter
     

    Twitter and YouTube have become so relevant to the public discourse in Saudi Arabia that there is now a bi-weekly YouTube show solely dedicated to what Saudi users of Twitter are talking about. The new show is simply called “What Happened in Twitter” and the first episode was published today.

     
  • Saudi non-oil sector to expand 6% in 2013
     

    Saudi Arabia shows some tightness in the local financial system, reflecting a scarcity of corporate deposits, but this appears to be abating and might in any case reflect strong investment growth in the non-oil economy. Local firms continue to report strong growth in new orders, with exchange rate movements helping make non-oil exports more competitive. […]

     
  • Saudi reforms detour through Vienna faith centre
     

    Although launched by Riyadh and named the King Abdullah International Centre for Interfaith and Intercultural Dialogue (KAICIID), bin Muaammar stressed it is not a Saudi entity. “This is an international institution,” he said. “About 70 percent of the world’s religions are on its board. The centre will be a neutral place to exchange ideas.” In […]

     
  • Saudi Arabia’s Power List – 2012
     

    Welcome to the first Arabian Business Saudi Power List – our guide to the kingdom’s most influential movers and shakers. As the rest of the planet, from emerging to traditional markets, teeters on the brink of recession, the mood has never been more positive in Saudi Arabia. A high oil price has swelled the kingdom’s […]

     
  • Regional e-commerce firms set sights on Saudi Arabia
     

    Digital expert Omar Christidis, founder of ArabNet, the hub for Arab digital professionals and entrepreneurs, said that Saudi Arabia is currently the largest digital market in the MENA region – with almost 40 percent of all Arabic tweets, half of Wikipedia’s Arabic content and 35 percent of all Arabic content on the web coming from […]

     
  • For Saudi Football, a Moment in the International Spotlight
     

    Saudi Arabia’s national football team has had its ups and downs in the last decade, thus far struggling to make a name for itself as a contender in a world full of elite national teams. Nevertheless, the ups and downs of the Saudi program are closely followed by Saudis all over the world and has, […]

     
  • Jadwa Investment – November 2012 Saudi Chartbook
     

    Jadwa Investment’s Saudi Chartbook for the month of November 2012 assesses a number of key aspects of the Saudi economy including the real economy, bank lending, banking indicators, inflation, trade, oil, exchange rates, the TASI (Saudi Stock Market), sectoral performance, and third quarter earnings. To read the entire report in full as a PDF, click […]

     
  • Saudi Arabia’s SABIC sets sights on U.S. shale gas boom
     

    Saudi Basic Industries Corp (SABIC) is considering investing in the United States to capitalise on the shale gas boom there, its chief executive told Reuters on Monday. SABIC and other petrochemical producers in Saudi Arabia have been looking for additional gas supplies to fuel their expansion plans, with SABIC now casting its gaze overseas. “We […]

     
  • Saudi Arabia Seeks $6.7 Billion of U.S. Transport Planes
     

    Saudi Arabia plans to buy 20 C-130J military transport planes, five KC-130J refueling aircraft and related equipment from Lockheed Martin Corp. (LMT) valued at about $6.7 billion, the Pentagon said today in a statement.The Pentagon’s Defense Security Cooperation Agency notified Congress of the potential sale to Saudi Arabia, the agency said in a statement posted […]

     

MUST-READS

  • Globalization Is Not Dying. It’s Everywhere.

    Trade, however remains, a dominant indicator in the public debate. The World Trade Organization forecasts an uptick in merchandise trade by 2.6% in 2024, accelerating to 3.3% in 2025. The year 2022 saw a record-breaking year for world trade, hitting $32 trillion. Ironically this was the same year that the de-globalization debate gathered pace and became a regular set piece at conferences like the World Economic Forum in Davos or the Milken Institute.

  • How 3 Schengen-style visas planned in GCC, Asia and Africa could change tourism forever

    The Schengen visa has transformed tourism for holidaymakers across the world looking for hassle-free travel to Europe. A single document offering unrestricted access to 29 countries, it delivers a major economic boost for member countries and a major timesaver for travelers themselves. So transformative is the Schengen visa, in fact, that countries around the world are looking to partner up to form trading and diplomatic blocs with mutually beneficial tourism benefits.

  • Israeli forces deepen Rafah invasion, kill 17 in central camps

     Israeli airstrikes on Tuesday killed at least 17 Palestinians in two of the Gaza Strip's historic refugee camps and Israeli tanks pushed deeper into the enclave's southern city of Rafah, residents and medics said.
    Residents reported heavy bombardments from tanks and planes in several areas of Rafah, where more than a million people had taken refuge before May. Most of the population has fled northwards since then as Israeli forces invaded the city.

  • EV startup Fisker files for bankruptcy, aims to sell assets

    U.S. electric vehicle (EV) maker Fisker filed for bankruptcy protection late on Monday, looking to sell its assets and restructure its debt, after succumbing to rapid cash burn to deliver its "Ocean" SUVs in the United States and Europe.
    EV makers such as Proterra, Lordstown and Electric Last Mile Solutions have also gone bankrupt in the past two years due to depleting cash reserves, fundraising hurdles and challenges in ramping up production due to global supply chain issues. Fisker's cars were also under investigation by U.S. regulators.

  • Solar power is now bigger than oil — for the first time ever

    Using a conservative production metric, the panels produced by Tongwei in 2024 will contribute around 27 exajoules of electricity to the grid, while the oil and gas pulled out of the ground by Exxon this year will account for a mere six exajoules. In fact, all seven of the biggest petroleum producers combined will contribute less energy from their products this year than just Tongwei’s long-tail solar production.

  • More fish were farmed than caught for the first time ever

    Last week, the FAO released its annual report on the state of aquaculture — which refers to the farming of both seafood and aquatic plants — and fisheries around the world. The organization found that global production from both aquaculture and fisheries reached a new high — 223.3 million metric tons of animals and plants — in 2022. Of that, 185.4 million metric tons were aquatic animals, and 37.8 million metric tons were algae. Aquaculture was responsible for 51 percent of aquatic animal production in 2022, or 94.4 metric tons.

  • Saudi Arabia advances to 16th place in World Competitiveness 2024

    Saudi Arabia advanced to the 16th place in the IMD World Competitiveness Ranking 2024, issued by the World Competitiveness Center of the International Institute for Management Development (IMD). According to the report, the Kingdom ranked fourth among the G20 countries, supported by improved business legislation and infrastructure. Thus, the Kingdom achieved an advanced position for the third straight year, compared with the 17th in 2023 and 24th in 2022.

  • Rainfall relieves Muslim pilgrims marking final days of Hajj in extreme heat

    Rainfall above Mecca on Monday relieved Muslim pilgrims, who used the early morning hours to perform the second day of the symbolic stoning of the devil, as noontime summer heat caused heatstroke among thousands wrapping up the Hajj pilgrimage. The final days of the Hajj coincide with Muslims around the world celebrating the Eid al-Adha holiday.

  • World’s Largest Airport Under Construction in Saudi Arabia

    A masterplan for the airport was unveiled by the country's sovereign wealth fund, the PIF, in November 2022. Built on the site on the existing King Khalid airport, Riyadh, the new airport will cover an area of around 34 square miles, comprising six parallel runways, residential and recreational facilities, as well as retail outlets.

  • Saudi Arabia Crude Exports Fall to 6 Million Barrels Per Day in April

    Saudi Arabia's crude oil exports fell to 6 million barrels per day from 6.413 million bpd in March, data from the Joint Organizations Data Initiative (JODI) showed on Monday. The decline in Saudi exports comes in line with the OPEC+ agreement to cut production, in order to maintain market stability. OPEC+ has implemented a series of output cuts since late 2022 to support the market amid rising output from the United States and other non-member producers and worries over demand as major economies grapple with high interest rates.