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Recent stories from sustg
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For Global Oil Demand, ‘The Worst Seems to be Over’
According to latest OPEC forecasts, “the worst seems to be over with respect to global oil demand” as expectations of a rebound for the second half of this year and a positive forecast for 2021 brighten outlooks, a recent report from Riyadh-based Jadwa Investment says.
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U.S. Corporation Air Products and Chemicals, NEOM, and ACWA Power Sign Accord for $5b Renewable Energy-Powered Ammonia Plant
U.S. corporation Air Products and Chemicals signed an accord with Saudi-based ACWA Power International and the kingdom’s planned futuristic city of NEOM to develop a $5 billion hydrogen-based ammonia plant powered by renewable energy, according to reports.
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KAUST Studies How Saudi Arabia’s Red Sea’s Coral Reefs Help Protect the Kingdom’s Coastline
Modeling done by Saudi Arabia’s King Abdullah University for Science and Technology (KAUST) reveals the important role of offshore reefs in the Red Sea in protecting the Kingdom’s coastal zones and highlights the need to conserve the region’s coral reefs.
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Easing of Lockdown in Saudi Arabia Beginning to Show in Economic Data, Jadwa Report says
The partial easing of lockdown restrictions in May was reflected in some economic indicators during the month, Jadwa Investment reports in its latest economic chartbook for that month.
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For the First Time Since January, Kingdom’s Net Foreign Assets Rise
Saudi Arabia’s net foreign assets rose in May for the firs time since January, Bloomberg reports, a reversal of three months of declines.
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KAPSARC: Estimating the Impact of the COVID-19 Pandemic on Saudi GDP
Riyadh-based think tank KAPSARC recently released a report examining the estimated impact of the COVID-19 Pandemic on Saudi GDP, finding a “medium scenario” of severity as described in the report most likely.
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A Milestone for Al-Ula’s Conservation Efforts as Kingdom Welcomes Newborn Gazelle
Saudi Arabia took a first and important step in its longterm conservation plans for the Al-Ula area this week by welcoming a newborn Arabian gazelle, which took its first steps under the watchful eye of rangers from Al Ula’s Sharaan Nature Reserve, according to a report in The National.
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Saudi Arabia Reports 12 New Deaths from Coronavirus, 2,532 New Cases
Saudi Arabia reported a steady increase of 2,532 new coronavirus cases and 12 new deaths, which brings the total number of cases in the Kingdom to 65,077 and the virus-related death toll to 351, the Ministry of Health announced.
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Saudi Arabia’s Al-Jadaan Announces New Measures to Shore Up Kingdom’s Finances
Saudi Arabia is taking new austerity measures to cope with the impact of the coronavirus pandemic and low oil prices, announcing that it would triple its VAT and slash a cost-of-living allowance for government workers, according to reports and comments from the Kingdom’s finance minister H.E. Mohammed Al-Jadaan.
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Despite Pandemic, Delivery Food App Uber Eats Ceases Operations in Saudi Arabia, Company Says
Uber Eats has decided to withdraw its food delivery service in both Saudi Arabia and Egypt, and will join forces with Careem in the UAE, according to reports, citing comments from company leadership in the region.
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MUST-READS
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Saudis urge US to suspend weapons to Israel until Gaza aid resumes
Saudi Arabia’s ambassador to Britain has urged the United States government to deliver on its threat to suspend weapons supplies to Israel unless more humanitarian aid is allowed into Gaza within the next 30 days. In a strongly worded letter to Israel made public this week, Washington issued an ultimatum, warning that restrictions could be imposed on future support for the country unless the growing humanitarian crisis in Gaza is addressed. Speaking to POLITICO’s “Power Play” podcast, Prince Khalid bin Bandar Al Saud said Joe Biden’s administration now had to keep its word, adding: “We have to assume that the Americans mean what they say; it would be a terrible world if they didn’t.
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Saudi Arabia to localize 4 healthcare jobs
The Ministry of Human Resources and Social Development, in partnership with the Ministry of Health, decided to raise the Saudization rates for four healthcare jobs in the private sector. These include radiology (65%), medical laboratories (70%), clinical nutrition (80%), and physical therapy (80%).
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Saudi Arabia plants over 95 million trees since launch of green initiative
Since the 2021 launch of the Saudi Green Initiative, Saudi Arabia has planted over 95 million trees through the National Afforestation Program and partnerships with government, private sector, and non-profit organizations. These efforts have also rehabilitated over 118,000 hectares of degraded land and protected 4.3 million hectares currently under restoration.
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Uzbekistan exact revenge on Saudi Arabia to once again show they are Asia’s rising force
On Saturday, with an impressive 2-0 win over defending champions Saudi Arabia, the Uzbeks advanced to the semi-finals of the ongoing AFC U-23 Asian Cup. In doing so, they kept alive their hopes of a maiden appearance in the men's football tournament at the Olympic Games. Should they beat Indonesia in their next tie and reach the final, they are guaranteed a ticket to Paris.
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Biden offers both a carrot and a stick to Israel as his term nears an end
In his final months in office, President Joe Biden is signaling new willingness to use U.S. military assistance to Israel as both a carrot and a stick to influence its high-stakes confrontation with Iran and Iran-backed militant groups. But while the approach increases Washington's involvement in Israeli decision-making just weeks before the US presidential election, it is unclear whether it will help achieve Biden's goals, including preventing a broader regional conflict and getting Israel to address the increasingly dire humanitarian situation in Gaza, experts say.
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Iran warns Israel against retaliation for missile attack
The commander of Iran's Revolutionary Guards warned Israel on Thursday against attacking the Islamic Republic in retaliation for a missile barrage, as the Israeli military stepped up its offensive in Lebanon against Tehran-backed Hezbollah. Fears of a wider Middle East conflict have grown as Israel plans its response to the Oct. 1 missile attack carried out by Iran after Israeli airstrikes on Iranian-allied militants.
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Charges of double standards as Lebanese Shiites seek refuge in Iraq
Iraqi officials are facing accusations that “humanitarian assistance” to displaced Lebanese is offered primarily to Hezbollah’s leadership and their families. Images of recent arrivals from Lebanon wearing scarves with the group’s insignia initially kicked off allegations of double standards. Observers further alleged that non-affiliates of Hezbollah are not offered preferential treatment. Meanwhile, others oppose such aid writ large, charging that Iraq’s Shiite political elite is supporting Lebanese co-religionists at the expense of displaced Iraqi Sunnis.
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Saudi Arabia, Egypt agree deeper investment ties, urge Gaza truce
Saudi Arabia's Crown Prince Mohammed bin Salman and Egypt's President Abdel Fattah al-Sisi agreed to deepen trade and investment cooperation and called for a ceasefire in Gaza and Lebanon in talks in Cairo on Tuesday. Egypt's presidency said the leaders signed an agreement to encourage and protect mutual investments between the countries, and witnessed the signing of an accord to form a supreme coordination council between Riyadh and Cairo to deepen cooperation.
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Saudi crown prince attends weekly Cabinet meeting
The Cabinet addressed the Kingdom’s ongoing efforts on the political and humanitarian levels to contribute to the current situation in the Gaza Strip and its surroundings, as well as the repercussions of the ongoing events ion Lebanon, Saudi Press Agency reported. It also discussed Saudi efforts of launching an air bridge to the Lebanese people to support them in facing these critical circumstances.
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Saudi’s Manara in advanced talks to buy stake in First Quantum’s Zambian mines
Saudi Arabia's Manara Minerals is closing in on a deal to buy a minority stake in Canadian miner First Quantum Minerals' (FM.TO), opens new tab Zambian copper and nickel assets, three people familiar with the details told Reuters. Manara, a joint venture between Saudi Arabian mining company Ma'aden (1211.SE), opens new tab and its $925 billion Public Investment Fund, is in advanced talks to acquire between 15% and 20% equity in the Zambian assets, the sources said.
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