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Recent stories from sustg

  • Saudi Students Flood In as U.S. Reopens Door
     

    The more than 300 graduates gathered at a hotel overlooking the Potomac River were all from Saudi Arabia, part of a massive government-paid foreign study program to earn bachelor’s, master’s and doctorate degrees and return home to help run their country. “You are the best of the best, and the future of our country,” Saudi […]

     
  • Saudi consumer electronics market surges
     

    Saudi Arabia’s consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and video, audio and gaming products is projected at $6.4 billion in 2012, Business Monitor International said in “Saudi Arabia Consumer Electronics Report Q2 2012″report. This is expected to increase to $8.2 billion by 2016, driven by the growing […]

     
  • The Saudi Cultural Mission’s New Headquarters
     

    The new SACM headquarters in Fairfax, Virginia provides a modern hub for Saudi Students in the United States, and stands as a symbol of the strong cultural relations between the United States and Saudi Arabia. Until recently, the future of the iconic Watergate hotel and office complex in Washington DC, which was the site of […]

     
  • With customs union, GCC edges toward closer economic ties
     

    Saudi Arabia, the biggest Arab economy, is leading moves toward political and economic cooperation, which it believes would give the mostly Sunni-led monarchies of the Gulf more power to withstand any confrontation with Shi’ite Iran. Closer business ties within the GCC, which consists of Saudi Arabia, the UAE, Kuwait, Qatar, Oman and Bahrain and has […]

     
  • Ramadan 1433
     

    Ramadan means more in the lives of Muslims than refraining from eating and drinking during the daylight hours. The ritual fasting during the holy month is among the five pillars of Islam: Shahadah, the declaration of faith; Salat, five daily prayers; Zakat, charitable giving; Hajj, the pilgrimage to Mecca; and Sawm of Ramadan, the ritual […]

     
  • Saudi car sales to hit $25 billion by 2013
     

    Saudi Arabia has ambitious plans to further expand its lucrative automobile industry. In 2011 alone, the Kingdom announced the sale of approximately 800,000 cars potentially increasing to 1 million vehicles per year by the end of the current decade. In this context, the country is planning to start manufacturing automobile parts by 2013 in addition […]

     
  • Muslims across the world prepare to observe Ramadan
     

    Muslims around the world begin fasting on Friday in observation of Ramadan, the holiest month in Islam when the faithful abstain from eating food or drinking water from sunrise to sunset…. Every year, identifying the start of Ramadan is like a waiting game; Islamic scholars must see the new crescent moon in the night skies […]

     
  • Gulf States Move to Diversify Income Sources
     

    Saudi Arabia, the world’s biggest oil exporter, has identified mining as a key investment area after oil and petrochemicals, and is spending an estimated $38 billion to develop two cities centered around mining…“The idea is to try and improve the range of benefits and advantages of doing business in the G.C.C. and in Saudi Arabia, […]

     
  • Moving forward with nationalisation in Saudi Arabia
     

    “Nitaqat represents an effort to introduce more incentives for companies to employ Saudis and in that sense it is an improvement on what went before,” says James Reeve, an economist at the local Samba Financial Group. “The reason you are hearing more complaints is probably because the system is being enforced with greater vigour.” Despite […]

     
  • More than half of GCC population under age 25
     

    The countries of the Gulf Cooperation Council (GCC) have a low population compared with other regions, totaling 45 million people in 2011, less than 1 percent of the global population, a recently published report read. The report, filed by Kuwait Financial Center (Markaz), highlighting the GCC demographic shift, said the region is young, with 54 […]

     

MUST-READS

  • Saudi banks witness 8 percent surge in Q1 earnings, reaching $4.97 billion

    Saudi Arabia’s top 10 listed banks saw  their earnings surge in the first quarter (Q1) of 2024 by 8 percent to reach SAR18.65 billion ($4.97 billion), compared to the same period the previous year. This increase can be attributed to several factors, including an 11 percent growth in lending and a rising interest rate environment that has heightened the cost of credit.

  • Saudi Arabia outlines steps to improve comfort for Hajj pilgrims

    Authorities in Saudi Arabia have outlined how they are making Hajj as comfortable as possible for pilgrims arriving in Saudi Arabia. The Saudi Press Agency documented the arrival of pilgrims from various nationalities at the Prophet’s Mosque, highlighting the extensive care provided by the the General Authority for the Affairs of the Grand Mosque and the Prophet’s Mosque.

  • First Syrian jet in over a decade transports Muslim worshippers to Saudi Arabia for Hajj pilgrimage

    For the first time in over a decade, 270 Syrians traveled on a direct flight early Tuesday from Damascus to Saudi Arabia for the annual Islamic Hajj pilgrimage, the Syrian Transportation Ministry said. The development is part of an ongoing thaw in relations between Damascus and Riyadh, which days ago appointed Saudi Arabia’s first ambassador to war-torn Syria since severing ties in 2012.

  • Harvard graduation ceremony witnesses emphasis on Gaza

    In her original speech, which was titled “The Power of Not Knowing,” Kumar said: “Now, we are in a moment of intense division and disagreement in our community over the events in Gaza. I see pain, uncertainty, and unrest across campus. It’s now, in a moment like this, that the power of ‘not knowing’ becomes critical.”

  • Latest Saudi textbooks reflect an increasingly positive shift toward Jews, Israel – IMPACT-se

    Saudi Arabia’s school curriculum has shown positive improvements in tolerance and inclusivity and significant moderation of anti-Israel material, a new study by The Institute for Monitoring Peace and Cultural Tolerance in School Education (IMPACT-se) revealed Tuesday.

  • Saudi Arabia’s non-oil sector projected to grow 4.8 percent in 2024, 5.2 percent in 2025: Report

    The analysis noted that Saudi’s non-oil sector will accelerate further in 2025, with a projected expansion rate of 5.2 percent.

    Riyad Capital noted, “We project continued solid growth for non-oil activities, fostered by a growth-oriented fiscal policy with a focus on increased investment spending, which will spur growth in the coming years.”

  • Saudi Arabia to Raise $10 Billion to $20 Billion in Fresh Aramco Stock Sale

    The long-awaited offering, if it proceeds, would alleviate near-term pressure on the kingdom to raise funds. Saudi Arabia has a slew of mega projects including a new city and a global airline, all aimed at diversifying the economy beyond oil. The country supersized a $12 billion debt sale earlier this year and has transferred billions from its foreign-currency reserves to its sovereign-wealth fund.

  • Privatizing the Gulf Utility Sector

    The utility sector in the Gulf is especially energy intensive, largely due to heavy reliance on desalination for water supplies. The sector has faced criticism for its high carbon emissions and contribution to environmental degradation. Given the significant environmental impact, privatization could offer opportunities to enhance the sustainability of the utility sector and help it become more climate resilient, as extreme temperatures and sea-level rise can affect both groundwater resources and desalination plants.

  • Oil Recovers From Selloff Amid Escalating Middle East Tensions

    West Texas Intermediate rose 2.7% to settle above $79 a barrel. The gains followed a drop to three-month lows last week brought futures to oversold territory. The attack on a Greek-managed bulk carrier in the Red Sea and Israel’s advance into the southern Gaza city revived the geopolitical risk premium that had gone missing last week, when signs of ample supplies also weighed on crude.

  • Solar PV to help meet soaring Middle East power demand, reduce reliance on fossil fuels / Rystad Energy

    The Middle East's energy sector is at a turning point. Although traditionally an oil and gas powerhouse, the region is shifting its focus to renewables as a response to rapid industrial growth, increasing population, and a global drive to reduce carbon emissions. The region is home to over 280 million people and has one of the world’s fastest-growing populations, increasing by over 60% since 2000. This has led to a rapid increase in power demand, more than doubling in the past 20 years.