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IMF: Saudi Arabia Making ‘Good Progress’ on Vision 2030, Should Focus on Balanced Budget in 2023
- May 23,2018
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- SUSTG Team
Saudi Arabia is making good progress in implementing Vision 2030 economic and social reforms, the International Monetary Fund (IMF) said in a statement late on Tuesday, as it urged the Kingdom not to increase spending and to focus on a balanced budget by 2023. “The government remains committed to wide-ranging economic and social reforms to transform the […]
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Saudi Ministry of Justice Announces Launch of Alimony Fund ‘Modeled on UK’s Child Maintenance Service’
- May 15,2018
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- SUSTG Team
Saudi Arabia’s Ministry of Justice is planning to launch an alimony fund similar to the United Kingdom’s Child Maintenance Service in an attempt to “empower mothers and provide sustainable living and support, for them and their children,” the Ministry said in a press release. The alimony fund is dedicated to women who are divorced and facing difficulty […]
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Tadawul IPO Pushed to ‘2019 at the Earliest’ as Kingdom Eyes MSCI Inclusion Bump
- April 24,2018
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- SUSTG Team
Saudi Arabia is delaying the IPO of the Tadawul, the Kingdom’s stock exchange, “on hopes that a potential MSCI Inc. upgrade could boost its value,” according to Bloomberg which cited people with knowledge of the matter. The Tadawul has pushed back plans to sell shares “to 2019 at the earliest,” according to Bloomberg, because waiting until after MSCI’s […]
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Saudi, Qatar Bond Issues Get Cozy; Both Oversubscribed
- April 12,2018
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- SUSTG Team
Saudi Arabia beat out regional rival Qatar’s first bond issuance since the Gulf crisis began with its own “surprise” $11 billion raise, which drew $52 billion of orders this week, according to reports. Saudi Arabia denies that the timing of the quick-fire raise was not aimed at damaging Qatar’s issuance. The Saudi debt management office told the […]
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Now West, Crown Prince Salman Meets with Tech Elite in Seattle
- April 2,2018
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman met with some of the world’s most prominent technology executives in Seattle this weekend as part of his three-week long official visit to the United States. The powerful millennial has prioritized technology as part of Saudi Arabia’s Vision 2030 social and economic reform blueprint, and has used the newly-empowered Public […]
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Crown Prince Mohammed bin Salman visits Harvard, MIT in Boston
- March 26,2018
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- SUSTG Team
Crown Prince Mohammed bin Salman visited Harvard University and MIT in Boston, Massachusetts over the weekend to tour two of America’s premiere higher education campuses and talk about the importance of research and entrepreneurship to Vision 2030. The visit to Boston is the second stop in a weeks long tour across the United States, his first […]
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State Department Approves $1 Billion in New Military Sales to Saudi Arabia
- March 23,2018
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- SUSTG Team
The State Department approved a possible sale of $670 million in TOW 2B (BGM-71F-Series) missiles to Saudi Arabia, according to a release from the Defense Security Cooperation Agency (DSCA). Together, with a new $300 million sale for spare vehicle parts for the Royal Saudi Land Forces Ordnance Corps, the new deals announced amount to nearly $1 billion. Defense Secretary James Mattis on […]
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Crown Prince Mohammed bin Salman Kicks Off Two Week U.S. Visit Today with Meeting at White House
- March 20,2018
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in Washington, D.C. last night and will kick off a two week, multi-city U.S. tour with a meeting today at the White House. The Saudi embassy in Washington, D.C. issued a release providing further details on the trip, noting that in addition to meeting with President Trump […]
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Shrugging Off Uncertainty, Investors Pour Money into Saudi Arabia with ‘Strong Underlying Fundamentals’
- March 15,2018
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- SUSTG Team
Saudi Arabia is “the hottest emerging market” right now as investors appear to be shrugging off concerns surrounding last year’s crackdown on corruption and with optimism surrounding Vision 2030’s economic and social reforms now coming into effect, CNN Money reports. “Equity funds investing in Saudi Arabia saw net inflows of $110 million between the start […]
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Saudi Arabia, United Kingdom Pledge Billions in Bilateral Trade and Investments
- March 8,2018
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- SUSTG Team
Saudi Arabia and the United Kingdom re-affirmed bi-lateral trade and investment ties on the second day of Crown Prince Mohammed bin Salman’s visit in London with billions in deals eyed in the coming years. Saudi Arabia’s crown prince and the U.K.’s prime minister launched an economic and investment partnership called the U.K.-Saudi Arabia Strategic Partnership […]
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MUST-READS
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China and AfghanistanChina’s Afghanistan Gambit
China’s choice of conflicts exposes an overarching theme in the types of crises Beijing is most likely to mediate. Both South Sudan and Afghanistan have resources that China is keen to exploit. It is also true that no other state is present to protect these economic interests for China and to root out terrorists. This, of course, is not completely true yet in Afghanistan since foreign forces remain in the country. There is a major peacekeeping mission in South Sudan, but nothing comparable to the U.S. military presence in Afghanistan. Still, the lack of a security guarantor now or in the near future appears to be a key factor in China’s decision to play peacemaker.
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Saudi FootballLoss to China compounds Saudi Arabia’s woes at Asian Cup
It has not been a good start to the Asian Cup for Saudi Arabia. After just one match the Green Falcons are in trouble and luck seems against them.
Once a powerhouse of Asian football, winning the title three times and making the final three more times between 1984 and 2007, the Saudis are suddenly struggling, much of it caused by their own doing.
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China and DubaiChina to become Dubai’s largest trading partner this year as Chinese comprise 10% of its population
The 200,000 Chinese now resident in Dubai comprise around 10 per cent of its population. This is a phenomenal rise from very low numbers since the relaxing of visa requirements in the wake of the global financial crisis in 2009. There are some 4,200 Chinese companies established in the city and Chinese guests make 25 per cent of bookings for the iconic Burj Al Arab Hotel.
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Saudi - China TradeTrans-Asia rail key to spur China economic ties with Saudi Arabia
The growth in trade is the result of Beijing's soaring demand for oil and the Middle East's hunger for lower-cost goods. The bilateral trade between China and Saudi Arabia clearly favors the latter. The value of Saudi exports into China exceeded its imports by more than $36 billion in 2012. The bulk of Saudi exports to China comprise crude oil. China is the second largest destination (after Japan) for Saudi Arabia's exports. China also is largest supplier of goods and services to the Kingdom. While Saudi Arabia is the largest oil supplier to China, followed by Angola and Iran.
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TransportationTrans-Asia rail key to boost Saudi economic ties with China
China has set a comprehensive economic strategy for linking the country to major economic countries in Asian, including Saudi Arabia through a railway, according to Al Eqtisadiya newspaper Wednesday.
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ClimateU.S. and China Reach Climate Accord After Months of Talks
The landmark agreement, jointly announced here by President Obama and President Xi Jinping, includes new targets for carbon emissions reductions by the United States and a first-ever commitment by China to stop its emissions from growing by 2030.
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Iran and ChinaIran and China deepen a ‘blue water’ friendship
Last month, visitors to Bandar Abbas on Iran’s southern coast gathered to witness a never-seen-before event: two Chinese warships pulling into port. It could be just the start of a budding naval alliance stretching from the Pacific to the Persian Gulf. Iranian and Chinese commanders last week announced plans for greater maritime cooperation. While the details are vague, it clearly touches ambitions on both sides: Expanding the reach of their warships into faraway seas and new ports of call. And, at the same time, giving a jab at the United States and its preeminent naval power.
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Asian Oil ImportsChina cuts Saudi oil imports amid Colombia crude boost
“Chinese refiners are favoring supplies from Oman and South America over Saudi Arabia as their prices relative to output are more competitive,” Amy Sun, an analyst with Shanghai-based ICIS-C1 Energy, a consultant, said by phone from Guangzhou. “China is also increasing imports from Russia with a new contract signed last year.”
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China and ISISHow China’s foreign and domestic policies may be fueling the Islamic State
China’s policies toward Uighurs, which range from effectively banning Ramadan for Uighurs to favoring ethnic Han Chinese in the region’s economic development, have resulted in high levels of poverty in the Uighurs community—which fuels a narrative of anti-Muslim oppression and puts Beijing in the ISIL’s crosshairs. In a speech in July, ISIL leader Abu Bakr-Al Baghdadi named China as one of the regions where “Muslim rights are forcibly seized,” and released a map of the group’s global aspirations that included the vast swathe of China’s Xinjiang province.
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