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Recent stories from sustg

  • Education, Women’s Empowerment and Change
     

    There has been a significant investment in education, which is great. In the last eight or nine years the number of Saudi Universities has more than quadrupled from about seven to over 30. Some of that increase has been through splitting up existing, very large universities, like King Abdul Aziz University, into more manageable sizes. […]

     
  • Saudi car sector to accelerate
     

    Strong fundamentals coupled with a rapidly growing young population made Saudi Arabia the largest importer of vehicles and automotive parts in the Middle East in 2011, with the pace seen accelerating in the medium term, the National Commercial Bank said in its report on the Kingdom’s automotive sector released Wednesday. It noted that rising income […]

     
  • The Importance of Economic Diversification for Saudi Arabia
     

    In a clear break from past trends, Saudi Arabia’s private sector is growing. This trend can be in part explained by the increase in bank lending to private sector. In year-on-year terms, lending growth was at its highest since March 2009. More specifically, bank lending to private sector rose by 1.1 percent in April to […]

     
  • Saudi Arabia names Defense Minister Prince Salman new heir to throne
     

    Saudi Arabia’s ruler named Defense Minister Prince Salman bin Abdul-Aziz is the country’s new crown prince Monday — an expected nod that leaves power still within an aging and shrinking circle of leaders in one of the West’s most critical Middle East allies.

     
  • Saudi Arabia mourns death of Crown Prince Naif
     

    The funeral prayers for the Saudi Crown Prince Naif bin Abdul Aziz will be held at the Haram Mosque in Makkah following the Maghreb prayer today. The body will then be buried at the graveyard in the holy city. Muslim leaders from across the world started arriving in Jeddah on their way to Makkah to […]

     
  • Saudi Crown Prince Nayef dies
     

    Saudi Crown Prince Nayef bin Abdulaziz, a hard-line conservative who is credited with pushing back al Qaeda, has died, Saudi state TV said on Saturday. Nayef, who had been named crown prince in October by his brother the king, was heir to the Saudi throne. State TV is broadcasting Quran readings as an expression of […]

     
  • Five Facts About Saudi Arabian Horses
     

    The 2012 London Olympics have had many controversial headlines in the news about horse sports and Saudi Arabia. With that in mind, many people know about the Arabian horse’s influence in modern Thoroughbreds and equestrian athletics, what about a country these horses originate from? Interestingly, the country of Saudi Arabia is full of horse-related facts […]

     
  • Jadwa Investments May 2012 Inflation Report for Saudi Arabia
     

    Jadwa Investment’s recently released May inflation report for Saudi Arabia found a year-on-year decrease in inflation to 5.1 percent, the lowest since August 2011. Jadwa noted that the decline “was due to a fall in inflation for ‘other expenses and services,’ which stems from lower gold prices.”

     
  • Saudi Arabia remains largest takaful market
     

    The global takaful industry has witnessed tremendous growth in the last decade, rapidly becoming an integral part of the mainstream financial system, with Saudi Arabia at the forefront, Ernst & Young executive said Wednesday at the opening of “The World takaful Conference: Asia Leaders Summit (WTC: ALS 2012)” at Hotel Istana, Kuala Lumpur. South East […]

     
  • Jadwa Chartbook June 2012: Sectoral Performance
     

    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, trade, and sectoral performance. Below is a snapshot of Jadwa’s analysis of the performance of Saudi Arabia’s main economic sectors. For the full Jadwa report, click […]

     

MUST-READS

  • Device detonations reveal ‘incredible’ intelligence abilities: ex-NSA chief

    The perpetrators “had incredible ability to do targeting intelligence and to be able to actually know the numbers, know who’s got them, [and] know the periodicity upon which they’re using them,” said Paul Nakasone, the former director of the National Security Agency and four-star commander of U.S. Cyber Command.

  • Saudi Arabia targets control of Alba to bolster metals ambitions

    State-controlled Saudi Arabian Mining Co., known as Ma’aden, announced a series of deals this week involving Aluminium Bahrain B.S.C., or Alba. When those deals close, the Saudi company “hopes to be a majority shareholder in Alba,” Ma’aden chief executive officer Bob Wilt said in an interview in Riyadh. “I’m very bullish on aluminum,” Wilt said. “The energy transition doesn’t happen without aluminum, so if we want to be a critical minerals and processing hub, we’ve got to control the feedstock.”

  • Egypt PM says Saudi’s planned $5 bln investment independent of cenbank deposit

    Egypt's Prime Minister Mostafa Madbouly said on Thursday that a planned Saudi Arabian investment of $5 billion in Egypt is independent of funds the Gulf state has deposited in the country's central bank, sending bond prices higher. The country's sovereign dollar bonds rallied to fresh two-year highs. The 2059 maturity gained the most, rising 1.35 cents, to bid at 77.60 cents on the dollar by 1309 GMT, Tradeweb data showed.

  • GCC economies set for 4.4% growth in 2025, report forecasts

    Analysis by the Institute of Chartered Accountants in England and Wales attributes this projected growth to both the rebound in oil production cuts by  OPEC and the GCC’s ongoing diversification efforts. This comes as countries across the Gulf, including Saudi Arabia and the UAE, intensify diversification efforts, with the Kingdom’s General Authority for Statistics reporting a 4.9 percent increase in non-oil sector activity in the second quarter of 2024.

  • Non-hydrocarbon sectors poised to drive strong GCC economic growth this year: Report

    This year has witnessed a relatively favorable economic landscape for GCC countries, characterized by robust non-oil growth despite prevailing uncertainties. Nevertheless, the broader Middle East has faced challenges, with the economic repercussions of the Gaza conflict extending to its neighboring nations, according to the latest Middle East Economy Watch report from PwC Middle East.

  • Coldplay confirmed for GCC-exclusive show in Abu Dhabi

    Coldplay’s rain-soaked 2009 performance in Abu Dhabi has gone down in history as one of the country’s greatest concerts, and now, the British band is gearing up to outdo itself. The group’s record-breaking Music of the Spheres World Tour will make a stop at Zayed Sports City Stadium in Abu Dhabi on Saturday, 11 January 2025. It will be the British band’s only show in the region. Tickets to see Coldplay in Abu Dhabi go on sale very soon, and here’s how to get your hands on them.

  • Iran’s ambassador to Lebanon injured by pager explosion

    Iran's ambassador to Lebanon, Mojtaba Amani, was slightly injured on Tuesday by the explosion of an electronic pager, Iran's semi-official Fars news agency reported, as numerous such devices exploded across Lebanon. "Amani has a superficial injury and is currently under observation in a hospital," Fars quoted a source as saying. Iran's Foreign Minister Abbas Araqchi, in a phone call with his Lebanese counterpart, strongly condemned the "terrorist attack" and thanked Lebanon for providing immediate medical treatment to Amani, Iranian state media reported.

  • Senators in both parties open to treaty vote on US-Saudi defense pact

    Republicans and Democrats are demanding any such agreement arrive on Capitol Hill as a treaty, requiring a two-thirds majority. Getting that level of Senate approval would be a huge challenge, according to interviews with more than a half-dozen senators on the Foreign Relations Committee.

  • Italy’s Saipem wins offshore contract worth $2 bln in Saudi Arabia

    Italian energy engineering group Saipem (SPMI.MI), opens new tab said on Wednesday it had won an offshore contract worth around $2 billion for the development of the Marjan oil field in Saudi Arabia. The contract was signed under the existing long-term agreement with oil giant Saudi Aramco (2222.SE), opens new tab, the company said in a statement. Saipem said earlier this month it had won two other offshore contracts with Saudi Aramco worth about $1 billion in total, and an offshore contract worth $4 billion with QatarEnergy, one of the world's top LNG suppliers.

  • Changes to Saudi Investment Law will help facilitate foreign investment

    “The new investment law introduces a number of positive changes that will help in fostering the continued development of the investment landscape in Saudi Arabia. The Investment Law represents a substantial amendment of the existing investment regime for both foreign and domestic investors and will further support the Kingdom’s transition away from oil and gas. The updates to the Investment Law create a sophisticated framework that reduces entry barriers, enhances legal certainty, and strengthens investor rights. The reforms unlock significant opportunities for long-term strategic partnerships and market expansion in the Kingdom”