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8th Future Investment Initiative wraps in Riyadh
- October 29,2024
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- SUSTG Team
The 8th Future Investment Initiative (FII) conference just concluded in Riyadh, Saudi Arabia, running from October 29th to 31st, 2024. This year’s theme was “Infinite Horizons: Investing Today, Shaping Tomorrow.”
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Aramco’s Wa’ed Ventures allocates $100 million for early-stage AI investments
- October 29,2024
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- SUSTG Team
Wa’ed Ventures, the $500 million venture capital fund owned by Saudi Aramco, plans to invest $100 million in early-stage artificial intelligence startups.
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MoF’s 2025 Preliminary Budget Statement assessed
- October 28,2024
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- SUSTG Team
Jadwa Investment assesses the Saudi Ministry of Finance’s recently released Preliminary Budget Statement for 2025 and mid-year 2024 economic review.
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Inexpensive solar panels are super-charging renewable energy growth
- October 25,2024
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- SUSTG Team
Solar PV and wind additions are forecast to more than double by 2028 compared with 2022, continuously breaking records over the forecast period to reach almost 710 GW.
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IMF World Economic Outlook releases KSA forecasts for ’24 and ’25
- October 23,2024
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- SUSTG Team
In its just-released World Economic Outlook Report the International Monetary Fund further lowered its GDP growth forecast for Saudi Arabia for 2024 to 1.5% and estimated growth to accelerate to 4.6% next year.
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Saudi Finance Minister makes strong case for multilateralism at IMF, World Bank meetings
- October 23,2024
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- SUSTG Team
Saudi Finance Minister Mohammed Al Jadaan appealed for a strong defense of multilateralism, warning of the challenges that global fragmentation poses to trade and humanitarian efforts.
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16th BRICS summit in Russia October 22-24
- October 22,2024
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- admin
The 16th BRICS summit kicked off today in Kazan, Russia.
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New Murabba project hits early milestone
- October 21,2024
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- SUSTG Team
The ambitious $50 billion New Murabba project has excavated 10 million cubic meters in preparation for construction as it works to meet a December 2030 deadline.
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Lucid CEO discusses EVs and Saudi investment
- October 18,2024
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- SUSTG Team
Lucid CEO, Peter Rawlinson, chats with Liz Hoffman and Semafor about the EV market, Elon Musk and Saudi Arabia’s Public Investment Fund.
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BBC Travel’s superb feature on Swizz Beatz and his love for AlUla and Saudi Arabia
- October 17,2024
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- SUSTG Team
Bronx-born entertainer Kasseem Daoud Dean – Swizz Beatz – talks with Eva Sandoval and BBC Travel for a remarkable discussion of his favorite places in Saudi Arabia.
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MUST-READS
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Pakistan says will continue ‘constructive engagement’ with Riyadh to enhance economic, strategic partnership
Pakistan’s foreign office said on Friday the South Asian country would continue its “constructive engagement” with the Kingdom of Saudi Arabia to enhance economic and strategic partnerships between the longtime allies. Saudi Foreign Minister Faisal bin Farhan Al Saud came to Islamabad on a two-day visit this week aimed at strengthening bilateral economic cooperation and pushing forward previously agreed investment deals. Pakistan has said it pitched investment projects worth$30 billion to Riyadh during Prince Faisal’s visit.
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Saudi Arabia starts reducing payment of accumulated traffic fines by 50% today
The General Department of Traffic (GDT) started today, April 18, reducing the payment of accumulated traffic fines by 50%. The decision applies traffic violations committed by Saudi nationals, residents, visitors, and GCC nationals before today, GDT said in a statement. To benefit from the decision, the violator should pay all accumulated fines within six months, starting from April 18 until October 18, 2024.
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Saudi Arabia starts revealing names of arrested harassers
The Saudi security authorities have begun announcing the names of those arrested on harassment charges. In a press statement issued on Friday, Makkah police revealed for the first time the full name of the accused while announcing the arrest of an Egyptian expatriate for harassing a woman.
The police said that legal measures were taken against the arrested Egyptian, Walid Al-Sayed Abdel Hamid, and that he was referred to the Public Prosecution. -
State Department OKs Potential $101M MIDS Terminal Sale to Saudi Arabia
The State Department has approved the government of Saudi Arabia’s request to procure communications and navigation terminals and associated equipment from the U.S. government under a potential $101.1 million foreign military sales agreement.
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Egypt’s Sisi starts third term pledging more investment, social spending
Egyptian President Abdel Fattah al-Sisi was sworn in for his third term on Tuesday in the country's new capital, the largest of the mega-projects that have come to symbolise his rule while stretching the country's finances.Speaking at the new parliament building, Sisi highlighted the challenges Egypt withstood in recent years while promising continued development, which many Egyptians say they feel excluded from.
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Manga Productions Chief Essam Bukhary on Saudi Manga Craze and How Partnership With Japanese Studios Is the ‘Future of the Anime Industry’
Saudi Arabia, where popular anime characters such as “Captain Tsubasa” and “Dragon Ball” protagonist Son Goku have been engrained in the culture for decades, is taking its love affair with Japanese manga content to the next level.
In late March, just a few weeks after the death of “Dragon Ball” creator Akira Toriyama, it was announced that the world’s first theme park dedicated to the megahit Japanese manga and animation franchise will be built in Qiddiya, the massive entertainment and tourism project outside the Saudi capital of Riyadh through a joint venture between Qiddiya and Japan’s Toei Animation.
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Shock and confusion as Turkey seizes earthquake survivors’ homes
Habip Yapar felt lucky that his home in southern Turkey withstood last year's devastating earthquake. Then a text message appeared on his phone in October telling him the government was taking ownership of the apartment. The message sent to Yapar, 61, declared that the deeds for his property in Hatay province were being transferred to the Treasury under an amendment to an urban planning law set to affect thousands of earthquake survivors.
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Saudi Arabia’s thriving startup scene driven by women
It's now almost impossible to imagine the Saudi economy without the thriving startup scene and its female entrepreneurs. Less than a decade ago, the situation was largely different.
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Muslims spot Ramadan crescent moon in Saudi Arabia, meaning month of fasting starts Monday for many
The sacred month, which sees those observing abstain from food and water from sunrise to sunset, marks a period of religious reflection, family get-togethers and giving across the Muslim world. Seeing the moon Sunday night means Monday is the first day of the fast. Saudi state television reported that authorities there saw the crescent moon. Soon after, multiple Gulf Arab nations, as well as Iraq, Syria and Egypt followed the announcement to confirm they as well would start fasting on Monday. Leaders also shared messages of congratulations the month had begun.
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Muslims spot Ramadan crescent moon in Saudi Arabia, meaning month of fasting starts Monday for many
The sacred month, which sees those observing abstain from food and water from sunrise to sunset, marks a period of religious reflection, family get-togethers and giving across the Muslim world. Seeing the moon Sunday night means Monday is the first day of the fast. Saudi state television reported that authorities there saw the crescent moon. Soon after, multiple Gulf Arab nations, as well as Iraq, Syria and Egypt followed the announcement to confirm they as well would start fasting on Monday. Leaders also shared messages of congratulations the month had begun.
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