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Recent stories from sustg

  • Jadwa Chartbook June 2012: Banking
     

    Riyadh-based Jadwa Investments recently released its June, 2012 Saudi chartbook which includes updates on the Saudi economy, trade, oil metrics as well as assessments of various sectors including banking. Below is a snapshot of Jadwa’s banking sector analysis.

     
  • Saudi Construction Sector: A Sleeping Giant Awakes
     

    Deloitte’s recently released report, “GCC powers of construction 2012: Five lessons to learn” assesses the current prospects of Saudi Arabia’s construction sector.  Deloitte paints a very optimistic picture noting Saudi Arabia’s leading position in the GCC with regard to population and GDP.  It also highlights the ambitious spending plans established in the latest 5-year development plan announced in […]

     
  • Saudi, Kuwait, UAE lead Q1 GCC corporate earnings growth
     

    Earnings of Saudi Arabian companies totalled $6.7 billion, an increase of 15 per cent YoY and 28 per cent QoQ. SABIC, which reported $1.9 billion in Q1 profits, saw its bottom-line decline by five per cent YoY due to softening of global petrochemical prices when compared to Q1 2011. Saudi Banks continued its stable growth […]

     
  • Key to the kingdom
     

    2012 is likely to be the tipping point for the Gulf’s most ambitious real estate project. If the good results continue, and companies carry on signing up to take advantage of the transport infrastructure coming online in 2013, then KAEC looks set to snowball. But when will the city be fully completed? “Our target is […]

     
  • Oil Prices Fall Below Break-Even for Several Nations
     

    Citibank expects that Russia will have a very turbulent next five years, given their estimate that Brent crude prices will likely settle close to $85 over that time period. Oil producers are beginning to feel the future threat of peak demand for oil caused by multiple factors — including unconventional liquid fuels — breathing down […]

     
  • Islamic funds seek socially responsible roadmap
     

    The Islamic investment sector can widen its customer base by adopting a socially responsible model, according to industry experts, but distribution channels, a sophisticated investor base and incentive schemes need to be enhanced first. The links between Islamic finance and socially responsible investments (SRI) are not new, but the former needs a similar transformation which […]

     
  • Changing patterns in U.S. crude imports
     

    U.S. crude oil import patterns have been undergoing significant shifts in recent months. While growing domestic tight oil production from the Bakken formation in North Dakota and elsewhere has helped displace imports from some countries, U.S. import volumes from the Canadian oil sands and Saudi Arabia have been on the rise. In total, U.S. crude […]

     
  • At the SACM Career Fair in Washington, Saudi Arabia’s Brightest Are Met With Opportunities (PHOTOS)
     

    Across the United States, around the end of the month of May every year, graduating students from high schools and universities join with families and friends to celebrate their achievements in

     
  • Saudi Satire Ignites YouTube’s Massive Growth in Middle East
     

    Fahad Albutairi never expected a career in broadcast or comedy, and he certainly didn’t expect to emerge as a YouTube star known to millions. Albutairi is the co-founder and star of the La Yekthar Show, a small cadre of YouTube shows shot in Saudi Arabia that have become wildly popular in the last year. His […]

     
  • Saudi female entrepreneurs exploit changing attitudes
     

    In Saudi Arabia, a small but determined number of women are overcoming obstacles to build their own thriving businesses. Social constraints in the conservative Kingdom have not stopped women from amassing substantial individual wealth. An estimated $11.9 billion is held by women primarily in bonds and bank accounts, according to asset managers Al Masah Capital. […]

     

MUST-READS

  • Historic decline in unemployment rate among Saudi women reaching 13.7% in 4Q 2023

    There has been a historic decline in the unemployment rate among Saudi women reaching 13.7 percent during the fourth quarter of 2023. The rate fell 2.6 percent from 16.3 percent during the third quarter of the year while the unemployment rate among Saudi men remained stable at 4.6 percent in the fourth quarter of last year, which was the same level as in the third quarter.

  • The Impact of the Saudi Civil Transactions Law on Major Project Delivery

    It is evidently essential for the success of Vision2030 that its two fundamental strategies — major project delivery and legislative reform — are implemented interdependently and cohesively. In this context, the purpose of this note is to assess the potential impact of the Kingdom’s latest and most ambitious legislative reform to date — the Civil Transactions Law

  • Opinion: UN’s Selecting Saudi Arabia To Lead Women’s Rights Forum May Advance The Cause

    The UN’s decision to give the chair of the “Commission on the Status of Women (CSW)” to Saudi Arabia on March 27 has been roundly condemned by human rights groups and the media citing that country’s “abysmal” record on women’s rights. Interestingly, there were no rival candidates and no dissent either at the CSW’s annual meeting in New York. The decision was proposed by the group of Asia-Pacific States on the Commission.

  • U.S. Special Envoy for Yemen Lenderking’s Travel to Saudi Arabia and Oman

    U.S. Special Envoy for Yemen Tim Lenderking is traveling to Saudi Arabia and Oman this week to meet with partners to discuss the need for an immediate cessation of Houthi attacks in the Red Sea and Gulf of Aden, which are undermining progress on the Yemen peace process and the delivery of humanitarian assistance to Yemen and other countries in need.
    The United States remains firmly committed to supporting a durable peace in Yemen and alleviating the complex humanitarian and economic crises harming the Yemeni people. The United States supports a return to UN-led peace efforts once the Houthis halt their indiscriminate attacks.
    Special Envoy Lenderking will meet with regional counterparts to discuss the steps to de-escalate the current situation and renew focus on securing a durable peace for the Yemeni people.

  • Saudi Exchange Welcomes 400th Listed Security

    Speaking on the occasion, Nasser Al Ajaji, Chief of Listing, said, “The 400th listed security on the Saudi Exchange marks a significant milestone and is a clear testament to the Kingdom’s dynamic capital market and its growing appeal to investors globally. In only 16 years, the Saudi Exchange has grown rapidly to rank among the top ten stock exchanges in the world. These achievements are more than just a number; they are symbolic of the economic diversity and growth spurred by Saudi Arabia’s Vision 2030, the Financial Sector Development Program, and the support of the CMA to accelerate the IPO pipeline. All of this reflects the potential we are poised to realize.”

  • Saudi Arabia condemns targeting of Iranian consulate in Syria

    Saudi Arabia has condemned the targeting of the Iranian consulate building in the Syrian capital Damascus, a foreign ministry statement said early Tuesday. On Monday, suspected Israeli warplanes bombed Iran’s consulate in Syria, a marked escalation in a war pitting Israel against its regional adversaries, and Tehran said the strike killed seven military advisers including three senior commanders.

  • Rogers, Smith Statement On Return Of Congressional Delegation To Saudi Arabia, Türkiye, And Uzbekistan

    U.S. Representatives Mike Rogers (R-AL) and Adam Smith (D-WA), Chairman and Ranking Member of the House Armed Services Committee, released the following statement after returning from a congressional delegation to Saudi Arabia, Türkiye, and Uzbekistan. Joining them on the delegation were Representatives Salud Carbajal (D-CA) and Veronica Escobar (D-TX), both members of the committee.

  • Saudi Arabia condemns attack on Iran’s consulate in Damascus

    “The Ministry expresses the Kingdom’s categorical rejection of targeting diplomatic facilities for any justification, and under any pretext, which is a violation of international diplomatic laws and the rules of diplomatic immunity,” the ministry said in a statement carried by state news agency SPA. Iran on Monday accused Israel of targeting its consulate in Damascus with airstrikes and killing seven Iranian military personnel, including two senior commanders.

  • White House’s Sullivan traveling to Saudi Arabia for talks with MBS

    White House national security adviser Jake Sullivan plans to travel to Saudi Arabia this week for talks with Crown Prince Mohammed bin Salman amid a U.S. push for progress toward normalizing relations between Israel and Saudi Arabia.
    Talks on normalization had been put on ice in the immediate aftermath of the Oct. 7 attack by Palestinian Hamas fighters on southern Israel and Israel's subsequent assault on Hamas-ruled Gaza, but conversations have resumed in recent months.

  • Israeli airstrike on Gaza kills seven working for food aid NGO

    Citizens from Australia, Britain and Poland were among seven people working for celebrity chef Jose Andres' World Central Kitchen who were killed in an Israeli airstrike in central Gaza on Monday, the NGO said.
    The workers, who also included Palestinians and a dual citizen of the United States and Canada, were travelling in two armoured cars emblazoned with the WCK logo and another vehicle, WCK said in a statement.