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Saudi Aramco Posts Nearly 300% Jump in 2Q Profit on Soaring Energy Demand Recovery
- August 9,2021
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- SUSTG Team
Saudi Aramco generated a net income of $25.5 billion in the second quarter of 2021, beating expectations and boosting the company’s earnings to nearly quadruple its earnings from the same quarter last year. The income was a 288% increase in net income for the second quarter, and the company maintained its dividend of $18.8 billion.
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Daily New COVID-19 Cases in Saudi Arabia Fall Below 1,000 for First Time in Two Months
- August 6,2021
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- SUSTG Team
Daily new COVID-19 cases in Saudi Arabia fell below the 1,000-mark on Thursday for the first time since June 6, according to official figures, with 986 individuals infected over the past 24 hours.
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SABIC’s Profit Surges in 2Q Amid Booming Demand for Petrochemical Products
- August 5,2021
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- SUSTG Team
Saudi-based petrochemicals giant SABIC hit a $2 billion quarterly profit in the second quarter of this year as a healthy global demand for its products drove sales, according to reports. SABIC also said it expects this solid performance to continue in the second half of 2021, “backed by healthy demand and rising oil prices,” according to Reuters.
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‘All Around the Region, Iran Continues to be Emboldened,’ Saudi Arabia’s Foreign Minister Says at Virtual Forum
- August 4,2021
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- SUSTG Team
Saudi Arabia’s foreign minister Prince Faisal bin Farhan al Saud said on Tuesday he sees an emboldened Iran acting with increased malign intent in the region in an appearance at a virtual gathering of the Aspen Security Forum. “All around the region, Iran continues to be emboldened,” Prince Faisal bin Farhan said. “Iran is extremely active in […]
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Saudi Mortgage Lending Surges 27% in First Half of 2021 — SAMA Data
- August 3,2021
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- SUSTG Team
Residential mortgage financing in Saudi Arabia has soared in 2021, increasing 27% so far this year despite a slowdown in the 2nd quarter, according to recent data released by the Saudi Arabian Monetary Authority (SAMA) and reported by Zawya.
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Jadwa Chartbook: Oil Prices Continue Climb for Third Straight Month, Benefitting Saudi Economy
- August 2,2021
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- SUSTG Team
A third straight monthly gain for oil is benefitting the Saudi economy, as SAMA FX reserves rose in June by $8.8 billion month-on-month and the non-oil PMI was unchanged at 56.4, indicating continued growth, a recently-released monthly Chartbook by Jadwa Investment for the month of June notes.
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Report: Potential Showdown Looms as PGA Tour Says it Wont Allow Players to Compete in Saudi International
- July 30,2021
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- SUSTG Team
The PGA Tour will refuse to allow some of its biggest stars to play in the Saudi International golf tournament next year in response to the Saudi Public Investment Fund’s backing of a new challenging tour to rival the PGA, according to a report in Golf Week.
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Saudi PPP to Invest $15 Billion in New Technology Fund – Report
- July 29,2021
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- SUSTG Team
A Saudi public-private partnership will launch a $15 billion technology fund “to advance the digital infrastructure in the Kingdom,” a report in Arab News said, based on an announcement at a conference in Riyadh on Wednesday.
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Saudi Arabia’s Rock Art Complex Hima Gets Sought-After UNESCO World Heritage list Designation
- July 27,2021
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- SUSTG Team
Hima, one of the largest rock art complexes in the world located in Saudi Arabia, has landed on UNESCO’s World Heritage list, the sixth such location in the Kingdom to receive the sought-after designation, according to reports. Entered into UNESCO’s listings as the Ḥimā Cultural Area, the incredible rock art is located in an arid, mountainous area of […]
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Saudi Arabia Suspends Privatization of the $2 Billion Ras Al Khair Desalination and Power Plant – Reports
- July 26,2021
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- SUSTG Team
Saudi Arabia has suspended the privatization plans for the Ras Al Khair desalination and power plant, valued at an estimated $2 billion, according to reports.
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MUST-READS
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Mecca Crane CollapseKing Salman Offers 1M Saudi Riyals For Mecca Crane Crash Victims, Invites Relatives As Guests In Haj 2016
Saudi King Salman has ordered 1 million riyals compensation for those who were injured with permanent disability and half a million for other injured pilgrims. Families of the deceased are also going to receive 1 million riyals, according to a royal court order.
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SyriaJohn Kerry tells Russia its support for Syria’s Assad risks ‘extending conflict’
US secretary of state makes third call in 10 days to Russian counterpart after president Vladimir Putin defended his military assistance to Assad's government
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Iran Nuclear Agreement: U.S. CongressSenate rejects attempt to derail Iran deal in victory for Obama
Senate Democrats on Thursday blocked a Republican effort to scuttle the Iran nuclear deal, delivering the Obama administration a long-awaited, major foreign policy victory.
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RefugeesOpinion: Those fleeing conflict ‘are our guests, not refugees’
Saudi Arabia has been and still is a safe destination for those who need help and shelter. We have never called the Yemenis or the Syrians refugees. We call them guests. And on top of this, Saudi Arabia and other Gulf states have always borne the financial burden of hosting these guests.
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War in YemenYemen Conflict: Qatar Sends 1,000 Troops, Helicopters, Vehicles To Join Saudi-Led Coalition, Report Says
The Qatar Armed Forces have deployed about 1,000 troops in Yemen, joining the Saudi Arabia-led coalition fighting the Houthi rebels there, Al Jazeera reported Monday. Reportedly backed by more than 200 armored vehicles and 30 Apache combat helicopters, the ground troops are the first from Qatar to enter the war in Yemen.
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Iran Nuclear AgreementObama on cusp of Iran victory
With only two Senate Democrats now publicly against the deal — Sens. Charles Schumer (N.Y.) and Bob Menendez (N.J.) — it increasingly appears that the signature foreign policy initiative of Obama’s second term will be able to move ahead.
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Capital PunishmentSaudi Arabia: 4 Convicts Are Executed
Saudi Arabia announced Wednesday that it had carried out four executions, raising the total to 130 so far in 2015.
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IraqIraq: Conflict Alert
A wave of protests has brought Iraq to the edge of yet more serious conflict. Prime Minister Haider al-Abadi has introduced sweeping reforms to halt the deterioration but in a manner that may make things worse. An important course correction is needed if he is to survive politically and Iraq is to avoid what could become in effect a military takeover.
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JihadHundreds of Saudis missing in foreign conflicts
The Saudi Red Crescent (SRC) has received more than 200 requests over the last 13 years to find Saudi men missing in foreign conflicts.
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Online MediaSaudi Arabia announces more restrictions on online media
Saud Kateb, the spokesman for the Saudi Ministry of Culture and Information, said that the new requirements include having a commercial registration, an office space, and a municipal license, according to news reports. He also said that editors-in-chief should have college degrees and Saudi citizenship, among other conditions.
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