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Recent stories from sustg
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Saudi Aramco Energy Ventures Prepares New $500m Fund, Opens Office in China
- January 13,2020
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- SUSTG Team
Saudi Aramco Energy Ventures (SAEV), a unit of the kingdom’s energy company, is preparing to start a new $500 million fund this year after completing $500m in investments, Bloomberg reports.
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Riyadh’s Night Skies Light Up with New Years Fireworks for the First Time
- January 1,2020
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- SUSTG Team
The night sky over Riyadh was illuminated with fireworks and light shows to celebrate the beginning of the new decade last night.
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Unemployment declines in Saudi Arabia, further gains seen in 2020 – Jadwa Investment
- December 18,2019
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- SUSTG Team
Unemployment in Saudi Arabia declined in the 3q 2019 and is likely to continue to improve as a pick-up in the non-oil private sector growth should translate to more jobs, according to a recent report from Jadwa Investment.
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Pensacola Shooting Puts U.S.-Saudi Relations in Spotlight; Trump Speaks with King Salman and Crown Prince
- December 9,2019
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- SUSTG Team
A Saudi soldier in training in the United States opened fire on a naval base in Pensacola, Florida on Friday, killing three and wounding 12. Second Lt. Mohammed Saeed Alshamrani was then killed by a sheriff’s deputy who responded to the attack. The attack shocked Saudis and Americans alike.
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Saudi Economy: Consistent Growth in Non-Oil Activity, Modest Overall Growth Forecasted for 2020 — Jadwa Investment
- November 27,2019
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- SUSTG Team
Jadwa Investment has revised downward its forecast for economic growth in Saudi Arabia this year from 1.6% to 0.2% based on recent data, the Riyadh-based firm said in a recently-released report.
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China’s Imports of Saudi Oil Soar 76% in October as Demand Increases
- November 25,2019
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- SUSTG Team
China’s crude oil imports from Saudi Arabia rose over 75% in October as demand from new refiners was met by the Kingdom, according to Reuters data. The 76.3% rise in October was boosted by demand particularly from from two new integrated refineries, the Hengli Petrochemical Co. in the north, and Zhejiang Petrochemical in the south, Reuters reports. […]
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Aramco Quickly Met Global Demand After Attacks, Saudi Arabia’s King Salman Says in Annual Address
- November 20,2019
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- SUSTG Team
Saudi Arabia’s King Salman said in his annual address to the Shoura Council on Wednesday that the ability of Saudi Aramco to quickly restore oil production capacity after attacks on its facilities in September “had proven the kingdom’s ability to meet global demand during any shortage,” Reuters reports. The King pointed a finger at Iran […]
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Saudi Arabia’s PIF Reportedly Invests $400m in Disruptive Food Startup Founded by Travis Kalanick
- November 8,2019
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- SUSTG Team
Saudi Arabia’s Public Investment Fund has invested $400 million into Uber founder Travis Kalanick’s new company CloudKitchens, according to the Wall Street Journal. CloudKitchens is a food and real estate startup that buys cheap properties across the U.S. and in India, China, the U.K. and elsewhere. “The hope is that their proximity to densely populated areas will make them […]
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Defense Secretary Esper in Riyadh for Surprise Visit; Kushner, Mnuchin to attend Future Investment Initiative
- October 22,2019
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- SUSTG Team
Secretary of Defense Mark Esper arrived Monday in Saudi Arabia for an unannounced visit as the U.S. and Saudi Arabia seek to bolster their joint defense in the face of rising regional tensions. Secretary Esper met with Saudi Arabia’s King Salman in Riyadh, photos show, and Esper said he discussed the deployment of U.S. forces and […]
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Law Firm Pillsbury Analyzes First Cases in Saudi Arabia’s New Bankruptcy Law
- October 11,2019
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- SUSTG Team
Law firm Pillsbury published a research note highlighting the recently passed bankruptcy law in Saudi Arabia that incorporated modern alternatives to liquidating businesses in the Kingdom, using the first cases decided by the Saudi judiciary as case studies. “For several years now, judges in [bankruptcy] courts have been involved in seminars and training workshops to help prepare them to rule […]
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MUST-READS
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PowerSwiss power firm wins $150m Saudi substations deal
Grid components supplier ABB said it booked a $150 million order in Saudi Arabia to expand five substations that will help accommodate expanded electricity generation capacity.
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RefinancingSaudi, Oman Power Companies Said Refinancing $2.1 Billion Debt
Companies across the six-nation Gulf Cooperation Council, which includes Saudi Arabia, the United Arab Emirates and Oman, have sought to cut interest rates on their loans over the past two years as borrowing costs declined and banks with excess cash competed to lend.
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U.S. Foreign Policy: LibyaLibyan force was lesson in limits of U.S. power
Envisioned as a low-cost, low-risk means to stabilize Libya, the planned force became a case study in the limits of American power to shape events following the upheaval of the Arab Spring. It also showed how a protracted planning process and a strong aversion to risk bogged down what was supposed to be Obama’s signature effort in Libya.
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U.S. - SyriaU.S. to defend Syrian rebels with airpower, including from Assad
The United States has decided to allow airstrikes to defend Syrian rebels trained by the U.S. military from any attackers, even if the enemies hail from forces loyal to Syrian President Bashar al-Assad, U.S. officials said on Sunday.
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PowerSaudi private sector eyed for $186bn power spend
Saudi Arabia’s private sector is expected to contribute a large percentage of the SR700-billion ($186.5 billion) investment needed in the next 10 years by the kingdom’s electricity sector, said a top official.
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PalestinePower shifts fuel talk of change in Palestinian politics
Rumblings in Ramallah in recent weeks have raised expectations that Palestinian politics is in play, with 80-year-old President Mahmoud Abbas, in power for more than a decade, facing a mounting challenge to his leadership.
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Saudi-IranSaudi Arabia’s contest for power with Iran could turn nuclear
"I think Saudi Arabia would seriously try to get the bomb if Iran did. It's just like India and Pakistan. The Pakistanis said for years they didn't want one, but when India got it, so did they," said Jamal Khashoggi, head of a Saudi news channel owned by a prince.
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AfghanistanAfghanistan’s Karzai gave up the presidency, but not the power
Ten months later, Karzai is anything but supportive or quiet. He has emerged as one of Ghani’s and Abdullah’s most vocal critics, engaging formidably in the political, diplomatic and tribal realms.
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Nuclear Policy: RussiaPerspective: The Middle East Nuclear Power Play No One Is Talking About
Nuclear financing is a long-term, complex and expensive endeavor with little-to-no short-term dividends, and long-term benefits are difficult to quantify. However, Russian nuclear deals are the cherry on top of other infrastructure projects, making it a “win-win” proposition for both sides.
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Iran Negotiations: Global Oil MarketsOil prices tumble as Iran, global powers reach nuclear deal
Oil prices dropped on Tuesday after Iran and six global powers reached a landmark nuclear deal that would see an easing of sanctions against Tehran and a gradual increase in its oil exports.
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