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  • Jadwa: Private sector leads real GDP growth in Q2
     

    Jadwa Investment recently released a report about GDP growth in Saudi Arabia, noting that the private sector was leading real GDP growth in the second quarter of 2012. Latest economic growth data released last week confirm that the healthy performance of the Saudi economy continued into the second quarter of 2012 albeit at slower pace than previous […]

     
  • Abdullah Alireza speaks at C3 Summit
     

    SUSTG attended the C3 Summit in New York City September 13-14, 2012. This was the inaugural event in what the organizers anticipate will be an annual gathering to ‘build new relationships, foster existing partnerships and exchange best practices’ between the U.S. and the Arab world. C3 (Community, Collaboration and Commerce) is looking to host the […]

     
  • Saudi Arabia says job-creation policy bears fruit
     

    Saudi Arabia, grappling with chronic youth unemployment, has created 380,000 new jobs in 10 months by requiring private firms to employ Saudis, Labor Minister Adel al-Fakeih said, the Saudi Gazette reported on Monday. “This figure is 20 times what had been previously achieved over the past five years before Nitaqat (the main jobs program) was […]

     
  • Total US-Saudi Bilateral Trade Reaches Record-High $39 Billion in H1 2012
     

    Total bi-lateral trade between Saudi Arabia and the United States reached $39 billion in the first six months of 2012, a record high for any half to date.  Below are some key US-Saudi trade figures for the first half (H1) of 2012 provided to SUSTG by the Saudi Commercial Office at the Royal Embassy of […]

     
  • ‘A Disciplined Approach To Forward-Looking Policymaking’
     

    A recently released report by the Center for Strategic and International Studies on Saudi Arabia’s energy policy finds that the Kingdom is pursuing a “disciplined approach to forward-looking policymaking.” The report was published by Hisham Akhonbay, who is a visiting fellow with the Energy and National Security Program at CSIS from the King Abdullah Petroleum […]

     
  • Will Saudi Arabia become an oil importer by 2030?
     

    THIS was the question asked all of this past week all over the world. Thousands of stories were filed on the topic, following speculation by a Citigroup analyst that Saudi Arabia may start importing oil by 2030. According to that theory, by 2030, Saudi consumption of oil would outstrip production and we could be importing […]

     
  • Saudi Mortgage Law: Key Details Still to be Determined
     

    Saudi Arabia faces housing challenges caused by rapid population growth and an inflow of expatriate workers to the kingdom.

     
  • Property rents soar in Saudi Arabia, analyst report shows
     

    Residential property rents in Saudi Arabia’s main cities have increased by up to 15% in some locations in the first six months of the year. The latest analysis report from real estate consultants CBRE explains that an increasing population and a rapid rise in per capita GDP has led to soaring rents. There has been […]

     
  • Jadwa September 2012 Saudi Chartbook – Inflation
     

    Jadwa Investment’s recently released Saudi Charbook for the month of September 2012 found that the Saudi economic activity in July experienced a “modest slowdown of economic activity…with indicators of consumer spending and PMI slowing on the back of a seasonal trend.” However, Jadwa notes that the “healthy underlying economic momentum remains in place.” Below is a snapshot of […]

     
  • President Obama’s Envoy to Mecca Islamic Summit Shares Views
     

    A little known detail about last month’s Extraordinary Islamic Solidarity Summit in Mecca was the presence of an American diplomat representing President Barack Obama to the 56-member Organization of Islamic Cooperation (OIC). The special summit, which met on August 14-15, 2012, was called by King Abdullah to take up crises, conflicts and serious issues affecting […]

     

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  • Gazans fearing Israeli assault on Rafah look to Cairo truce talks for hope

    U.S., Egyptian, Israeli and Qatari officials were expected to meet in Cairo on Tuesday to seek a truce in Gaza as more than a million civilians crammed into a southern corner of the Palestinian enclave, waiting in fear for an Israeli assault. Amid growing international concern over the plight of civilians, Israeli tanks shelled the eastern sector of Rafah city overnight, residents said, although the anticipated ground offensive did not appear to have started.

  • A big merger between oil rivals is gassing up energy consolidation in the US

    Once oil rivals Diamondback Energy and Endeavor Energy Resources announced Monday (Feb. 12) that they are merging to create a $50 billion oil giant in the Permian Basin. The deal is just the latest in a wave of consolidation in the US energy sector. Diamondback is set to acquire Endeavor in a stock-and-cash deal valued at $26 billion. Diamondback stock rose nearly 8% during morning trading following the news. Its market cap currently sits at $29 billion.

  • Saudi Arabia Prepares 10 Regions to Become Among Top 50 Global Cities

    Saudi Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail said that the Kingdom was working to transform at least 10 Saudi cities to become among the top 50 global cities, by achieving the factors of governance, sustainability, and interaction with residents. His remarks came on the sidelines of the Global Smart City Forum, organized by the Saudi Data and Artificial Intelligence Authority (SDAIA) on Monday in Riyadh with the participation of world experts in the field of building smart cities and artificial intelligence.

  • Saudi Air Force Selects Chinese Wing Loong-10B Recon-Strike Drone As UAVs ‘Rock’ Global Conflicts

    KSA has been operating the Wing Loong-2 (WL-2) drone since 2017. The Chengdu Aircraft Industry Group displayed the WL-2 with the Saudi flag printed on its tail Wing (vertical stabilizer). The WL-2 can carry 480 kg (1,058 pounds) of weapons for up to 32 hours. According to the South China Morning Post (SCMP), the drone was reportedly used in the Yemeni civil war against the Houthi militia.

  • Saudi Arabia reveals bidders for 3.7 GW solar tender

    Saudi Power Procurement Co. (SPPC) announced this week the selected bidders for the final phase of the fifth round of the Saudi Arabian government's National Renewable Energy Program (NREP).

  • Saudi Arabia announces national plan to stimulate urban policies by 2025

    The minister described the progress made by Saudi cities in the field of smart technology and urban development, saying: “Our goal is for at least 10 Saudi cities to be among the top 50 global cities by achieving the factors of governance, sustainability, and interaction with the population, meeting their aspirations, and achieving high prosperity for them.” He added: “Last year, four of our vibrant cities were classified within the Smart Cities Index. This exceptional journey toward transformation has enabled us to benefit from technology, artificial intelligence and data to make a real and tangible impact in municipalities.”

  • National portal to improve Saudi urban landscape launched

    The Saudi Data and Artificial Intelligence Authority (SDAIA) and the Ministry of Municipal and Rural Affairs and Housing launched a national portal to improve the Saudi urban landscape. The launching ceremony was held on the sidelines of the first edition of the Global Smart City Forum 2024 in Riyadh on Monday. The two-day event is organized by SDAIA, in cooperation with the Ministry of Interior and the Ministry of Municipal and Rural Affairs and Housing.

  • Do Iraqis Really Want the Americans to Withdraw?

    On February 10, 2024, the 329-seat Iraqi parliament convened to consider a resolution to demand formally American withdrawal. Within the parliament, 176 members represent the Coordination Framework, a coalition of political parties that back Prime Minister Mohammed Shi'a al-Sudani. The Framework also comprises among Iraq's most pro-Iranian political factions. Yet, despite holding a majority, the Framework could only muster 77 members to vote for a U.S. exit. Put another way, 252 parliamentarians split among Arabs and Kurds; Sunnis, Shi'ites, and Christians signaled they want the United States to remain for the sake of Iraqi sovereignty.

  • The reality of life in Gaza right now, according to a former Middle East correspondent

    Christiane Amanpour speaks to journalist and author, Sarah Helm, about the potential consequences of an Israeli ground incursion into Rafah in Gaza.