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Recent stories from sustg
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With Energy Prices High, Saudi Aramco Again Becomes World’s Most Valuable Company
Elevated energy prices as a result of growing demand and supply shortages in the post-pandemic global economy boosted the value of Saudi Aramco to become the world’s most valuable company, according to reports.
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Kingdom Aims for 70 Million Tourist Visits This Year; Visits Soar in 1Q 2022
Visits to Saudi Arabia soared in the first quarter of this year as the Kingdom eyes ambitious growth in the previously nascent sector, targeting over 70 million tourist visits this year, Saudi Tourism Authority CEO Fahd Hamidaddin told Reuters in an interview.
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Eid Mubarak the SUSTG Team
The Saudi-US Trade Group (SUSTG) wishes all followers of Islam a blessed and joyous Eid-al-Fitr!
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Energy, hydrogen, and more with Phillip Cornell from The Economist Impact and the Atlantic Council and much more…
In Episode 34, The hosts welcome Phillip Cornell, senior fellow, Global Energy Center at the Atlantic Council, and Principal for Energy and Sustainability at the Economist Impact, and brings over 15 years of international experience in private and public sectors (World Bank, IEA, Aramco, NATO, Dow Jones) onto The 966 to talk about the global […]
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Ramadan 2022 Set to Begin with Crescent Moon Sighting in Saudi Arabia April 1-2
Ramadan 2022 is set to begin in Saudi Arabia upon the sighting of the crescent moon as soon as April 1, with authorities urging Saudis to keep a look out for the moon starting Friday night.
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The major transformation and overhaul of Saudi Arabia’s military with defense expert Bilal Saab and much more – The 966 Episode 32
Episode 32 of The 966 – the hosts welcome defense and security expert Bilal Saab to discuss the little-known but historically significant transformations underway in Saudi Arabia’s military and security institutions. The hosts also talk about the personal status law that will make a major real-life change for women and families in the Kingdom, a […]
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Saudi Arabia Invites China’s President Xi to Visit Kingdom
Saudi Arabia has invited Chinese President Xi Jinping to visit Riyadh as the Kingdom, people familiar with the plan told the Wall Street Journal. The visit could be President Xi’s first international trip since the beginning of the Covid-19 pandemic began.
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Secretary of State Blinken, Saudi FM Prince Faisal bin Farhan on Russia Invasion of Ukraine
Secretary of State Antony J. Blinken spoke on Wednesday with his counterpart in Saudi Arabia, Foreign Minister Prince Faisal bin Farhan Al Saud, about the Russian invasion of Ukraine, the State department said in a brief statement.
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Oil Prices Near 8-Year Highs as Russian Invasion of Ukraine Roils Markets
Oil prices reached 8-year highs, approaching $100 a barrel on the Brent crude index, as Russia’s Vladamir Putin ordered troops to invade neighboring Ukraine.
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Saudi Moves Further into FinTech Space with PIF Backing of New Digital Bank Called D360
Saudi Arabia’s Public Investment Fund is investing in the creation of a new digital bank being established in the kingdom with a capital of 1.65 billion riyals ($440 million), according to a report from Bloomberg.
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MUST-READS
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Russia and Ukraine exchange 103 prisoners each in deal mediated by UAE
The exchange of a total of 206 prisoners was facilitated in the UAE’s eighth such mediation, the Gulf nation’s Ministry of Foreign Affairs said in a statement on social media platform X. “We have successfully brought back another 103 warriors from Russian captivity to Ukraine,” Zelenskyy posted on X on Saturday. The freed Ukrainians included 82 privates and sergeants and 21 officers from the Armed Forces of Ukraine, the National Guard of Ukraine, border guards, and police officers, he said.
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EU mission starts Red Sea oil tanker salvage
An operation trying to salvage a stricken oil tanker, burning in the Red Sea for almost a month now after attacks by Yemen's Houthi rebels, has begun, according to a European Union naval mission on Saturday. The EU's Operation Aspides released images showing its vessels escorting three ships making their way toward the Greek-flagged oil tanker Sounion. The operation aims to prevent an environmental disaster in the region.
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Iraqi and US forces kill a top IS commander and other militants in joint operation
Iraqi forces and American troops have killed a senior commander with the Islamic State group who was wanted by the United States, as well as several other prominent militants, Iraq’s military said on Friday. The operation in Iraq’s western Anbar province began in late August, the Iraqi military said, and involved also members of the Iraqi National Intelligence Service and Iraq’s air force.
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Saudi Ranks Among Top Countries For Child Welfare And Education Opportunities
Saudi has emerged as a global leader in child welfare and education, ranking among the top nations where citizens believe children are treated with respect and dignity, according to the 2023 Gallup World Poll. Iain Drennan, executive director of WeProtect Global Alliance, praised the Gulf region’s achievements in safeguarding children. He emphasized the importance of ensuring children’s rights, particularly in light of global challenges like child abuse and online exploitation.
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Analysis: Saudi Arabia’s FDI Outlook
Strong economic foundations and extensive international relations contribute to growing FDI in Saudi Arabia’s tourism, construction, electronics, and financial service sectors, among others. Correspondingly, GlobalData’s FDI database records 735 announced and 572 opened FDI projects in Saudi Arabia, between Q1 2019 and Q3 2024.
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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.
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Territorial Disputes Threaten Iran-Arab Detente
The uneasy detente between Iran and its Arab neighbors is not only threatened by the state of Iranian-U.S. relations but also by dormant territorial disputes. These include disputes over the Greater and Lesser Tunb and Abu Musa islands claimed by the United Arab Emirates and oil and gas fields that Iran shares with neighboring countries – which Iran has not developed due to the international sanctions regime and restricted access to technology. Should the Islamic Revolutionary Guard Corps and its engineering arm, Khatam al-Anbia Construction Headquarters, engage in developing the fields, Iran and its Arab neighbors may find themselves entangled in renewed crises.
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Energy Minister: Saudi Arabia continues work on building first nuclear power plant
Minister of Energy Prince Abdulaziz bin Salman said that Saudi Arabia continues work on building its first nuclear power plant. He also revealed that Riyadh will host International Conference on Nuclear Emergencies by the end of 2025. Addressing the 68th Session of the General Conference of International Atomic Energy Agency (IAEA) in the Austrian capital Vienna on Monday, he said that the Kingdom has completed the readiness requirements related to nuclear regulatory work. "We are continuing to implement our national project for peaceful nuclear energy, while our systems and infrastructure meet the required international regulatory requirements," he said.
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Where Iranians Stand on Hijab Rules
On September 16, 2022, 22-year-old Mahsa Amini died after having been taken into custody by Iran’s morality police for allegedly wearing her headscarf incorrectly. While the authorities state Amini died from illness, her parents and protesters say the police were responsible. Amini’s death ignited an uprising across the country, led mainly by women and young people, against injustice, the subjugation of women and police brutality, with hundreds reported to have been killed and thousands arrested in the ensuing months.
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Nestle to build its first Saudi manufacturing plant in Jeddah
Slated to open in 2025, the plant represents an initial investment of SR270 million ($72 million). The project is set to enhance local production capabilities, contribute to sustainable food security in the Kingdom, and meet local demand while enabling exports to other Middle Eastern and North African markets.
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