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  • Saudi Arabia, China forge tourism partnerships to boost investment, travel

    In a post on his X account, Al-Khateeb said: “During my visit to China, I met with Chinese investors and discussed the great potential and investment opportunities in Saudi Arabia’s tourism sector and ways for collaboration to elevate the experience of tourists.” In June, the Kingdom announced its official Approved Destination Status, effective July 1, following participation in the second China Roadshow and ITB China in Shanghai.

  • Saudi Aramco CEO ‘fairly bullish’ on China oil demand

    Saudi Aramco (2222.SE), opens new tab is "fairly bullish" on China's oil demand especially in light of the government's stimulus package which aims to boost growth, the head of the state-owned oil giant said on Monday. "We see more demand for jet fuel and naphtha especially for liquid-to-chemical projects," Aramco CEO Amin Nasser said on the sidelines of the Singapore International Energy Week conference. "A lot of it is happening in China mainly because of the growth in chemical needs. Especially for the transition, for the electric vehicles, for the solar panels, they need more chemicals. So that's huge growth there," Nasser said.

  • Saudi Aramco CEO ‘fairly bullish’ on China oil demand

    Saudi Aramco (2222.SE), opens new tab is "fairly bullish" on China's oil demand especially in light of the government's stimulus package which aims to boost growth, the head of the state-owned oil giant said on Monday. "We see more demand for jet fuel and naphtha especially for liquid-to-chemical projects," Aramco CEO Amin Nasser said on the sidelines of the Singapore International Energy Week conference. "A lot of it is happening in China mainly because of the growth in chemical needs. Especially for the transition, for the electric vehicles, for the solar panels, they need more chemicals. So that's huge growth there," Nasser said.

  • China’s Q3 GDP hits weakest pace since early 2023, backs calls for more stimulus

    China's economy grew at the slowest pace since early 2023 in the third quarter, and though consumption and factory output figures beat forecasts last month a tumbling property sector remains a major challenge for Beijing as it races to revitalise growth. Authorities have sharply ramped up policy stimulus since late September, but markets are waiting for more details on the size of the package and a clearer road map to put the economy back on a solid longer-term footing.

  • A Saudi tech institute chooses the US over China

    Byrne is following the lead of others in the kingdom. In May, the chief executive officer of the Saudi Public Investment Fund-backed fund Alat also said that if asked to choose between the US and China, the fund would divest from China. At a global AI summit in Riyadh last month, the Saudi Data and Artificial Intelligence Authority recently announced a deal to buy 5,000 Nvidia graphics chips to help develop an Arabic large language model, pending US government approval. The future of Saudi tech depends on the US and, it seems, the government and its most important institutions are signaling that while they don’t want to choose sides, the answer is clear as to who would win if they did.

  • Global EV sales up 30.5% in September as China shines, Europe recuperates

    Global sales of fully electric and plug-in hybrid vehicles rose by an annual 30.5% in September, as China surpassed its record numbers recorded in August and Europe resumed growth, market research firm Rho Motion said on Tuesday. Gains in the U.S. market have been slow and steady in anticipation of the Nov. 5 election, which makes it difficult to predict future trends in the country, data manager Charles Lester told Reuters.

  • Saudi PIF-Backed Firm Plans Trade Zone to Boost China Ties

    The KSA-Sino Logistics Zone will be developed at Saudi Arabia’s new King Salman International Airport, Cliff Chau, managing partner at Riyadh-based EWPartners, said in an interview. It will aim to bring in Chinese firms involved in logistics, light manufacturing and reexports into Saudi Arabia to serve the wider Middle East, Africa and Europe, he said.  The firm is currently in talks with potential investors including both Asian and Middle East sovereign wealth funds to finance around $2 billion for the initial development costs, said Chau, a former executive at China Investment Corp. The full cost of developing the 4 square kilometer zone, which is scheduled to launch by the end of next year, is still being determined, he said.

  • Pakistan wins more financing assurances from China, UAE, Saudi IMF official says

    Pakistan has received "significant financing assurances" from China, Saudi Arabia and the United Arab Emirates linked to a new International Monetary Fund program that go beyond a deal to roll over $12 billion in bilateral loans owed to them by Islamabad, an IMF official said on Thursday. IMF Pakistan Mission Chief Nathan Porter declined to provide details of additional financing amounts committed by the three countries but said they would come on top of the debt rollover.

  • China’s Expanding Solar Footprint in the Gulf

    China’s recent third plenum highlights the Communist Party’s commitment to guiding the country’s economy through ongoing global tensions and domestic challenges by focusing on sustainable, high-quality growth fueled by advanced technologies. Despite a robust economic performance and a leading role in global green energy, China’s solar industry faces significant turbulence from overexpansion, fierce competition, and external tariffs. As the sector confronts these difficulties, Chinese solar companies are strategically expanding into Gulf markets, leveraging the region’s immense solar potential while navigating the risks associated with intense competition and harsh environmental conditions.

  • Aramco’s New Deals With China Signal A Further Deepening Of Sino-Saudi Relations

    The genesis of the broader and deeper relationship between Saudi Arabia and China was not the establishment of diplomatic relations between the two countries on 21 July 1990. Rather, it was more likely the offer made by China to buy the entire 5 percent in a private placement of Saudi Aramco that was being touted for sale in an initial public offering (IPO) from late-2016/early-2017, according to several industry sources.