SUSTG.com / Research

Discover stories, topics, and more about Saudi Arebia faster.

Recent stories from sustg

MUST-READS

  • Non-oil business activity in Saudi Arabia and UAE grew in January

    Business activity in the non-oil private sector economies of Saudi Arabia and the UAE continued to expand in January, albeit at a slower pace, amid continued growth momentum in the Arab world’s two largest economies. The seasonally adjusted Riyad Bank purchasing managers’ index ­– a crucial gauge of the kingdom’s non-oil economy – slipped to 55.4 in January, down from 57.5 in December. Though the headline PMI was at the lowest level in two years, the upturn remained strong overall and widespread across the monitored sectors, as it remained well above the neutral 50 mark that separates growth from contraction.

  • Gulf thaw with Syria gains steam: UAE sends envoy, Saudi diplomats plan visit

    The restoration of diplomatic ties between Arab Gulf countries and Syria is currently witnessing renewed impetus more than a decade after President Bashar al-Assad’s regional isolation due to his government’s brutal crackdown of peaceful anti-regime protests. A delegation of Saudi diplomats is reportedly heading to Damascus later this week, days after the UAE dispatched its first ambassador to the Syrian capital in more than 10 years. The pro-government Syrian Al-Watan newspaper said in a Wednesday report that Saudi charge d'affaires Abdullah al-Haris, along with several other diplomats, will arrive in Damascus on Saturday to resume Saudi consular services. Read more: https://www.al-monitor.com/originals/2024/01/gulf-thaw-syria-gains-steam-uae-sends-envoy-saudi-diplomats-plan-visit#ixzz8QV41JpbP

  • Top art exhibitions in the UAE and Saudi Arabia to see this spring

    As the calendar ticked over to 2024, art institutions in the Gulf began setting the stage for some of their best exhibitions of the year.

    The UAE will host Art Dubai and March Art Week, while Saudi Arabia has a growing fixture of events anchored by the Diriyah Biennale Foundation as well as exhibitions and biennials staged in AlUla.

  • Top art exhibitions in the UAE and Saudi Arabia to see this spring

    A mix of blockbuster shows and calmer retrospectives to catch in the coming months.

  • SoftBank Veteran Entrusted With Saudi, UAE Billions Readies Second Act

    The Indian-born financier who helped open the floodgates to Middle Eastern wealth for Masayoshi Son’s $100 billion Vision Fund is attempting his second act. This time, he’s going solo. At SoftBank Group Corp.’s splashy tech vehicle, Rajeev Misra helped secure commitments worth $45 billion from Saudi Arabia’s Public Investment Fund and $15 billion from Abu Dhabi’s Mubadala Investment Co. Investments in high-flying startups ensued — Uber Technologies Inc. and WeWork Inc. among them — but many bets blew up as markets turned. Misra largely stepped back from that venture in 2022 after a tenure marred by internal clashes and investment writedowns.

  • Israel Isn’t Buying Saudi, UAE, Qatar, Egypt and Jordan’s Postwar Gaza Plan

    Five Arab nations are quietly touting a settlement for postwar Gaza for which they’ve secured the backing of the US. The problem is that the Israelis on whom the agreement depends aren’t buying it. That means the proposal, which its authors are calling the most plausible solution for long-term security in the region, is out of reach for now. Two of the many officials who spoke with Bloomberg are privately asserting that progress toward it won’t be possible so long as Prime Minister Benjamin Netanyahu’s right-wing coalition stays in power.

  • LinkedIn research reveals UAE and Saudi Arabian job trends

    This inclination aligns with the UAE’s resilience in international hiring, showcasing a 0.3 per cent annual increase, which is a remarkable 30 per cent higher than the pre-pandemic levels of December 2019. As the new year begins, 62 per cent of professionals are actively seeking or planning to start looking for new job opportunities. Better salaries (42 per cent) and the desire for an improved work-life balance (33 per cent) stand out as the top two reasons motivating professionals to consider a career move.

  • UK millionaires head to UAE: Richest Brits leave as cost of living crisis worsens, Dubai real estate to benefit

    A combination of high taxation, rising cost of living and deteriorating health system in the UK is driving the UK’s super-rich to migrate to various parts of the world, with the UAE emerging as their most favoured destination, recent studies and experts revealed. Rising risks of the UK slipping into recession in 2024, leading to further value deteriorating of property and other assets are predicted to further accelerate the migration of millionaires from London – once the most favoured city for wealthy from around the world – going forward.

  • BRICS UAE, Saudi expansion marks biggest challenge to the US dollar in the 21st century

    Dubai-based geopolitical risk analyst and Partner at Confluence Consultants, Nicolas Michelon, told Arabian Business the inclusion of Saudi Arabia “represents a significant change in regional and global geopolitics.” Saudi Arabia is arguably the most influential and oldest US ally in the Arab world, and its entry into BRICS comes a few months after the Gulf nation reinstated diplomatic ties with Iran under China’s patronage.

  • Saudi Arabia Overtakes the UAE in Middle East VC Fund Raising

    Saudi Arabia secured more venture capital investments than its main regional competitor, the United Arab Emirates, for the first time last year as government-backed funds boosted spending in the sector. Startups in the kingdom raised $1.4 billion, a 33% increase from a year earlier and just over half of all venture capital funding raised in the Middle East and North Africa in 2023, according to Dubai-based venture capital data platform Magnitt.