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Lucid Opens First-Ever Auto Plant in Saudi Arabia
- September 27,2023
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- SUSTG Team
Lucid has opened the first ever car manufacturing plant in Saudi Arabia at the King Abdullah Economic City as the kingdom looks to establish itself as a global player in the EV race.
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The CEO of Riyadh’s financial district, Gautam Sashittal, joins The 966 to talk about the Kingdom’s original giga-project and the city of the future
- September 22,2023
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- SUSTG Team
Gautam Sashittal, the CEO of Riyadh’s financial district that has redefined Riyadh’s skyline and is the city’s most sought-after business address and lifestyle destination, joins The 966 podcast. The district is home to many of Saudi Arabia’s largest companies and regional headquarters of international corporations doing business in the region, as well as the Kingdom’s […]
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Saudi Pro League Clubs to Play in Iran After Travel Ban Lifted
- September 5,2023
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- SUSTG Team
Saudi Pro League clubs will travel to Iran to feature in the Asian Champions League after the Asian Football Confederation on Monday said games between teams from the two nations would be played on a home-and-away basis for the first time since 2016, according to a report in Reuters.
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New Murabba Development Company Awards Industry-Leader Bechtel with PMC Contract for Masterplan, Site-Wide Infrastructure
- August 29,2023
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- SUSTG Team
The Saudi-based, PIF-owned New Murabba Development Company has announced that Bechtel, the leading engineering and construction company, has been awarded a key contract to provide project management services for the New Murabba development in the capital Riyadh.
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Princess Mashael bint Saud Al Shalan joins The 966, Saudis rush to theaters to See ‘Barbie’, an update on The Line and more…
- August 18,2023
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- SUSTG Team
Episode 99! Princess Mashael bint Saud Al-Shalan, Founding Partner, Aeon Strategy, joins The 966 to discuss her work heading one of the leading consultancies in Saudi Arabia in the field of sustainability. Aeon Strategy played a key role in support of the Kingdom’s Net-Zero targets under the Saudi Green Initiative and the Circular Carbon Economy […]
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The MENA region gets hotter as a global heat wave hits 3 continents, the Islamic New Year, Saudi Arabia outranks the US in expat survey and much more…
- July 21,2023
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- SUSTG Team
Episode 95! The hosts discuss some of the biggest storylines and topics on Saudi Arabia this week. First, Richard’s One Big Thing this week, the Islamic new year. Muslims around the world observe and celebrate the Islamic New Year, also called the Hijri New Year, which marks the beginning of a new lunar Hijri year. […]
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PIF Announces Establishment of Sawani Company to Enable Growth of Camel Farming Industry
- July 20,2023
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- SUSTG Team
The Public Investment Fund (PIF) of Saudi Arabia announced the establishment of Sawani Company “to enable the growth of the Saudi camel farming industry and actively contribute to its sustainable development,” the fund said in a press release.
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Saudi Arabia Leads MENA in VC Funding So Far in 2023, MAGNiTT Report Says
- July 19,2023
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- SUSTG Team
Saudi Arabia was the MENA leader in VC funding in the first half of 2023, a report by the research and analysis firm MAGNiTT said in its recently-released report.
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Saudi businesswoman Dana Alajlani joins The 966, the PIF eyes a new sports investment arm, perceptions of Saudi and much more
- July 7,2023
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- SUSTG Team
Saudi businesswoman Dana Alajlani, Head of Public Affairs for the GCC at Sanofi, the French multinational pharmaceutical and healthcare company headquartered in Paris, joins The 966 to share her professional journey and story. Dana is also Co-Chairwoman of the American Chamber of Commerce in Saudi Arabia (AmChamKSA) and is involved there with the Women in […]
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Non-Oil Business Activity in Saudi Arabia Surged in June 2023 as Tourism, Construction Sectors Lift Economy
- July 5,2023
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- SUSTG Team
Non-oil business activity in Saudi Arabia surged in June supported by strength in construction and tourism, a survey showed.
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MUST-READS
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IranIran’s Guards warn of ‘decisive’ action if unrest continues
The protests have spread across the Islamic Republic since Friday, turning political with demonstrators demanding that top clerical leaders step down. At least 100 banks and dozens of buildings and cars have been torched, state media reported.
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ContractsSaudi contract awards surge to highest in four years
The value of contracts awarded in Saudi Arabia almost doubled in the second quarter compared to a year earlier, led by the energy, property and military sectors, according to a report published on Tuesday.
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U.S.-IranIran’s Zarif warns U.S. that Tehran may also act ‘unpredictably’
“Mutual unpredictability will lead to chaos. President Trump cannot expect to be unpredictable and expect others to be predictable. Unpredictability will lead to mutual unpredictability and unpredictability is chaotic,” Zarif said in a speech at the Stockholm International Peace Research Institute (SIPRI).
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McDermottSaudi Aramco Awards Offshore Contract
Saudi Aramco has awarded McDermott International, Inc. an engineering, procurement, construction and installation (EPCI) contract to provide a wellhead production deck module (PDM) in the Arabian Gulf, McDermott reported Thursday.
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Missile DefenseLockheed awarded $1.5 billion Saudi Arabia THAAD missile defense system contract
Lockheed Martin was awarded an almost $1.5 billion modification to an earlier contract to supply Terminal High Altitude Area Defense Interceptor support items for Saudi Arabia, the U.S. Department of Defense said in a release. The $1,473,941,756 firm-fixed-price modification to a 2017 Missile Defense Agency contract (HQ0147-17-C-0032) brings the total value to $5,364,606,980, the Friday, July 19 release said.
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Saudi AramcoAramco awards $18 billion in contracts to boost capacity at Marjan, Berri oilfields
Saudi Aramco has awarded 34 contracts with a total value of $18 billion for engineering, procurement and construction projects at its Marjan and Berri oilfields, the company said. Aramco plans to boost production capacity at the two fields by 550,000 barrels per day of Arabian crude oil and 2.5 billion standard cubic feet a day of gas, the company said in a statement.
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TransportationSaudi Arabia awards $1.15 billion worth of road maintenance contracts
Transport Minister Nabeel Al-Amoudi on Wednesday sponsored a signing ceremony in Riyadh of operation, maintenance and cleaning contracts for roads throughout the Kingdom for the period 2019-2022.
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ConstructionConstruction contract awards in Saudi Arabia see 113% growth to $13bn in Q1
The value of contract awards in Saudi Arabia grew to $13bn (SAR48.9bn) in Q1 2019, a staggering 113% increase from $6.1bn (SAR23bn) in the same period in 2018, Construction Week reports.
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ConstructionReview of Construction Contract Awards in Saudi Arabia, Q1 2019
The $13 billion in awarded contracts contained significant mega-projects across numerous sectors. Most notably was the oil & gas, water, and transportation sectors, which accounted for approximately 67 percent of all awarded contracts during Q1’19.
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EconomySaudi Arabia’s non-oil activity to pick up going forward
Saudi Arabia’s non-oil activity is likely to pick up going forward, the latest Bank of America Merrill Lynch’s Global Emerging Markets Weekly report revealed. The 1Q19 fiscal balance stood at a surplus of SR27.8 billion ($7.4 billion; 0.9% of GDP), with the primary balance registering a surplus of SR32.2 billion ($8.6 billion; 1.1% of GDP). This is due to an increase in Saudi Aramco special dividends to the budget; non-oil revenues broadly on target; and, seasonality and control of spending.
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