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Recent stories from sustg

  • Saudi Budget Needs Less Than $80/Bbl To Be Balanced
     

    Top oil exporter Saudi Arabia would still be able to balance its budget even if oil prices fall to less than $80 per barrel, Al Arabiya television reported Tuesday, citing the kingdom’s finance minister, Ibrahim Al-Assaf. “As you know the oil revenues are affected by two factors; price and production…the price that leads to a […]

     
  • The Gulf Military Balance in 2012
     

    The Burke Chair at CSIS is issuing a new report called the Gulf Military Balance in 2012. The report shows that the Gulf military balance is dominated by five major groups of military forces: the Southern Gulf states, Iran, Iraq, outside powers like the US, and non-state actors like the various elements of Al Qa’ida, the […]

     
  • Saudi Arabia’s Bond With U.S. ‘Goes Beyond Energy’
     

    The U.S. and Saudi Arabia have a close relationship with a bond “that goes far beyond energy,” Saudi Oil Minister Ali al-Naimi said. The minister told graduates during his commencement speech at Lehigh University in Bethlehem, Pennsylvania, that “We seek together a world of greater understanding, mutual tolerance, and respect for human dignity and personal […]

     
  • Saudi Women Tackle Everest to Advance Breast Cancer Awareness
     

    To the ten Saudi women attempting a punishing ascent to a major milestone on the world’s highest peak, the dangers of reaching the Mount Everest base camp are no match for their cause. As a part of an ever-growing effort in Saudi Arabia, the campaign, “A Woman’s Journey: Destination Mount Everest,” intends to raise awareness […]

     
  • Statement on the Temporary Ban on Beef Imports from the U.S. to Saudi
     

    The Saudi Food & Drug Authority has issued a temporary ban on beef imported to Saudi Arabia from the United States. On May 2, 2012, the Saudi FDA issued decision 33/90 preventing the import of all beef products from the U.S. due to a confirmed case of BSE, bovine spongiform encephalopathy.

     
  • The Surprising $100 Billion Solar Investment
     

    If you thought Germany and California were aggressively trying to add solar power to the grid, the oil state of Saudi Arabia is giving both of them a run for their money with recent plans to enter the solar market. The country is looking for investors in a $109 billion plan to build 41 GW […]

     
  • Effat University on the Forefront of Change in Saudi Arabia
     

    I was also impressed to see Effat graduating a quarter of its students from its College of Engineering, which it established in partnership with Duke University’s Pratt School of Engineering. When I first visited Effat seven years ago, it was still in the early stages of establishing engineering as a degree, a first for women […]

     
  • Saudi Arabia’s First Female Director Brings ‘Wadjda’ to Cannes
     

    Wadjda, the first-ever film shot in Saudi Arabia, hits the Cannes market as The Match Factory begins pre-sales at Cannes’ Marche du Film on the coming-of-age drama from Haiffa al Mansour, the first female Saudi filmmaker. Haifaa wrote and directed Wadjda, which tells the ordinary but uplifting story of Wadjda, an 11-year-old girl growing up in […]

     
  • Baseball and Saudi Economic Policy
     

    Dr. Muhammad Al-Jasser, Minister of Economy and Planning, recently spoke to the Young Businessmen’s Committee of the Riyadh Chamber of Commerce and Industry. Though the setting would appear innocuous, Dr. Al-Jasser’s remarks were not. The theme was the Future Vision of the Saudi Economy and they are worth reading in full.

     
  • Opening the TASI: What You Need to Know
     

    Saudi Arabia, the world’s largest oil exporter and the Middle East’s biggest economy, is about to complete a gradual process to open its stock market, known as the Tadawul or TASI, directly to international investors for the first time.  The initial step toward this action was to give other GCC countries the right to invest […]

     

MUST-READS

  • Emerging Markets Are Exercising Greater Global Sway

    The global economy is increasingly influenced by the Group of Twenty’s large emerging markets. Over the past two decades, these economies have become much more integrated with global markets and are generating larger economic “spillovers” to the rest of the world.

  • Saudi industrial sector sees 63% surge in new investments

    Saudi Arabia’s industrial sector experienced a 63 percent increase in new investments in 2023, amounting to a SR15 billion ($3.99 billion) rise compared to the previous year. According to the annual report from the Saudi Authority for Industrial Cities and Technology Zones, the cumulative funding last year reached SR415 billion, distributed across 891 projects encompassing both local and foreign ventures.

  • Saudi Arabia echoes India’s stand on Kashmir in joint statement with Pak

    A joint statement issued by Saudi Arabia and Pakistan stressed the importance of dialogue between Pakistan and India to resolve the outstanding issues between the two countries, especially the Jammu and Kashmir dispute.

  • Saudi Arabia lowers predicted number of residents at The Line by 2030

    The scaling-back of the project is because Saudi Arabia's sovereign wealth fund hasn't yet approved Neom's 2024 budget, the source said. Bloomberg has previously reported that the wealth fund is trying to find new cash sources to help finance the project. The Line, which was originally announced in 2021, would link the Red Sea coast with the northwest of Saudi Arabia and is the most well-known of the Neom projects, which will cover 26,500 square kilometres in northwestern Saudi Arabia in total.

  • Saudi Arabia’s economic diversification: Driving growth beyond oil

    “The PMI for Saudi Arabia showcased a notable upswing as the non-oil economy exhibited expansion in the most recent period,” Naif Al-Ghaith, chief economist at Riyad Bank, said in a statement. “Business activity experienced a substantial uptick, marking the most significant growth in six months. The positive momentum also prompted accelerated purchasing activities and additional hiring, underscoring a buoyant market outlook.”

  • Saudi Arabia says no new moon sighted, declares Wednesday as Eid-el-Fitr

    Authorities in the Kingdom of Saudi Arabia on Monday said no moon crescent marking the beginning of Shawwal and the end of Ramadan has been sighted. With this development, the Ramadan fasting will be 30 days while the Eid-el-Fitr will be celebrated on Wednesday in the Kingdom. “The crescent moon was NOT sighted in Saudi Arabia. Therefore, Eid Al Fitr will be celebrated on Wednesday, 10th April 2024,” Haramain, a Saudi-based online resource outfit, wrote on X.

  • Etihad Expands To 76 Destinations With Airbus A320s To Saudi Arabia’s Al Qassim

    https://simpleflying.com/etihad-76-destinations-airbus-a320s-saudi-arabia-al-qassim/

  • Saudi Arabia, Pakistan accelerate implementation of $5 billion investment package

    This was announced in a joint statement following a meeting between Crown Prince and Prime Minister of Saudi Arabia Mohammed bin Salman and Pakistani Prime Minister Muhammad Shehbaz Sharif at Al-Safa Palace in Makkah on Sunday. This move is a significant step toward bolstering economic ties and is indicative of the strong relationship between the two countries.

  • The $22B Railway Opening Saudi Arabia’s Doors to the World: Video

    Saudi Arabia is racing to finish the $22B Riyadh Metro in time to modernize its capital city and open its doors to the world. With the country set to host the World Expo 2030 and as a frontrunner to host the 2034 FIFA World Cup, this is a golden opportunity for Saudi Arabia to transform its economy and improve its human rights reputation on a global stage.

  • Saudi Crown Prince Mohammed bin Salman meets Pakistan’s Prime Minister Shehbaz Sharif

    Saudi Arabia’s Crown Prince Mohammed bin Salman met with Pakistani Prime Minister Shehbaz Sharif, the Saudi Press Agency reported on Monday. During their meeting in the holy city of Mecca, the two leaders discussed various issues, including the war in Gaza. MBS and Sharif “urged for international efforts to halt Israeli military operations in Gaza, mitigate humanitarian impact and underscored the imperative for the international community to pressure Israel to cease hostilities, adhere to international law, and facilitate unhindered humanitarian aid access to Gaza,” SPA reported.