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IMF concludes annual consultation with Saudi Arabia
- September 5,2024
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- SUSTG Team
Saudi Arabia’s unprecedented economic transformation is progressing well as it advanced in its modernization and diversification efforts under Vision 2030. The recent fiscal space exercise has facilitated the recalibration of investment spending planned under Vision 2030 by reprioritizing projects and through sectoral strategies.
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’24 Fintech Conference in Riyadh
- September 4,2024
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- SUSTG Team
The first edition of the International Conference on Financial Technology, ’24 Fintech, at the Riyadh Front Exhibition and Conference Center on Tuesday with an address from Finance Minister Mohammed Al-Jadaan, large crowds and a slew of announcements.
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7th Family Forum held in Riyadh
- September 3,2024
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- SUSTG Team
The Family Affairs Council hosted its seventh Family Forum in Riyadh on September 1-2, 2024, focusing on “Family Counseling: Building Strength from Within in a Changing World.”
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Value of Saudi e-commerce revenues expected to reach $69bln by 2025: Monsha’at
- August 29,2024
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- admin
According to a report from the Small and Medium Enterprises General Authority (Monsha’at), the number of e-commerce platform users in the kingdom is expected to reach 34.5 million by 2025, marking a 42% increase from 2019 to 2024.
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Saudi non-oil economy continues growth
- August 27,2024
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- SUSTG Team
Jadwa Investments’ August 2024 macroeconomic update showed robust growth in non-oil activity.
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Esports World Cup crowns winners after historic 8-week tournament
- August 26,2024
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- admin
The Esports World Cup Foundation, the non-profit organization hosting the Esports World Cup, the world’s largest esports competition and gaming festival, celebrated the historic inaugural event with HRH Mohammed bin Salman in attendance by crowning Team Falcons the first Esports World Cup Club Champion on Sunday night in Riyadh, Saudi Arabia.
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Saudi Professional League Season starts; summer transfer window subdued
- August 22,2024
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- SUSTG Team
The SUSTG Review wrote in July that Saudi Arabia’s professional football transfer strategy has evolved. After numerous blockbuster acquisitions in 2023, the current transfer window (though not over) has been subdued.
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Saudi’s Public Investment Fund issues 2023 Annual Report
- August 20,2024
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- admin
PIF governor Yasir Al Rumayyan noted that the fund has increased its global reach, unveiled giga-projects, launched portfolio companies and delivered “ahead of financial return targets – in line with the goals of its Vision Realisation Programme 2021-2025”.
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KSA and it’s summer power surge challenge
- August 19,2024
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- SUSTG Team
In terms of oil consumption used for its electricity sector Saudi Arabia matches the entire oil consumption of Italy, Spain or Turkey. The kingdom’s oil for power use spikes over 1 million barrels per day in summer to generate power and water.
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Saudi Arabia’s Capex Super Cycle – Goldman Sachs
- August 15,2024
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- SUSTG Team
In its informative August 14, 2024 Briefing Insight entitled “Only a quarter of Saudi Arabia’s $1 trillion capex plan will go into oil” Goldman Sachs’ analyst team examines the Kingdom’s projected capital expense spending to 2030.
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MUST-READS
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China Eyes Partnership With Gulf Countries For Space Exploration
Developing the space sector and engaging in ambitious exploration plans requires massive upfront capital expenditure for projects that may not pay off for several years. These are investment time horizons with which Gulf countries not only have significant experience from oil and gas, but also match their long-term strategies to diversify their economies. The expansion of space activities is accelerating across the region thanks to advances in the technologies that constitute the Fourth Industrial Revolution (4IR) – blockchain, artificial intelligence, 3D printing, materials science, nanotechnology and biotechnology – that have decreased satellite launch costs and increased the capabilities of smaller satellites.
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Saudi club Al-Ahli sign Spain’s Veiga from Celta
The 21-year-old, who has played eight times for Spain's Under-21 team and was part of the squad which finished runners-up at the U21 European Championship last month, has attracted interest from several clubs in the transfer window including Chelsea, Liverpool and Napoli. "The jewel of Spain will chant our anthem," Al-Ahli posted on messaging platform X, previously known as Twitter. Veiga is the latest addition to Al-Ahli's squad after the signings of Riyad Mahrez, Roberto Firmino, goalkeeper Edouard Mendy, Alain Saint-Maximin, Merih Demiral, Franck Kessie and Roger Ibanez.
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Axiom Space raises $350 mln in round led by Saudi, Korean investors
Axiom Space has raised $350 million in a funding round led by Saudi Arabia's Aljazira Capital and Korean healthcare firm Boryung as the startup works with NASA to develop a private space station. The company declined to disclose its valuation on Monday. Axiom said the round took its total raise so far to $505 million and made it the space startup to receive the second-most funding in 2023, only behind Elon Musk's SpaceX.
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Barbie blockbuster sparks new fashion craze in UAE, Middle East
‘Barbiecore’, inspired by the latest global blockbuster movie ‘Barbie’, is fast emerging as the new fashion trend among millennials and middle-aged alike in the UAE and the larger Middle East region of late, eliciting nostalgia while infusing fashion with playfulness and joy, industry insiders said.
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Dutch F-16s Deployed as Russian Jets Flew Toward NATO Airspace
The Netherlands and Denmark deployed F-16 fighter jets Monday as two Russian bombers approached NATO airspace over the North Sea. The Russian planes turned back after being identified and never left international airspace. The two Dutch F-16 jets took off and were prepared to guard the Netherlands’ area of responsibility following an alert at 7:19 a.m. local time, according to a statement from the government. “This doesn’t happen often, but today’s incident demonstrates the importance of rapid deployment,” according to the statement.
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‘Barbie’ Debuts in Saudi Arabia, Sparking Delight, and Anger
Similar scenes played out across the conservative Islamic kingdom last weekend, as women painted their nails pink, tied pink bows in their hair and draped pink floor-length abayas over their shoulders for the regional debut of the movie, “Barbie.” While critics across the Middle East have called for the film to be banned for undermining traditional gender norms, many Saudis ignored them.
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‘Barbie’ Debuts in Saudi Arabia, Sparking Delight, and Anger
Similar scenes played out across the conservative Islamic kingdom last weekend, as women painted their nails pink, tied pink bows in their hair and draped pink floor-length abayas over their shoulders for the regional debut of the movie, “Barbie.” While critics across the Middle East have called for the film to be banned for undermining traditional gender norms, many Saudis ignored them.
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Saudi Arabia’s New Airline Signs its First Sports Sponsorship Deal with Leading Spanish Football Club
Saudi Arabia's newly launched world-class airline, Riyadh Air and leading Spanish football club, Atlético de Madrid today signed a multi-year partnership naming the airline as the main and official airline partner of the Red and White football club. The partnership marks a significant milestone for both parties and is the first sports sponsorship that Riyadh Air has signed since its official launch on March 12, 2023.
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Nearly 200 Saudis graduate from Spain’s prestigious Les Roches institute
The first batch of Saudi students graduated this week from the executive master’s program in international hotel management at Les Roches Global Hospitality Education, in Marbella, Spain. The program was launched by the Ministry of Tourism last year as part of the Ahlaha 2022 initiative. All 198 male and female graduates expressed their gratitude to the Saudi ministry, which is developing initiatives to enhance the capabilities of workers in the tourism sector, especially in the hotel industry.
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‘It’s a new era for Arab space exploration,’ Emirati astronaut Sultan AlNeyadi tells Arab News
Manned missions launched by the UAE and Saudi Arabia signal “a new era in Arab space exploration,” Emirati astronaut Sultan AlNeyadi has told Arab News from the International Space Station. As the first Arab astronaut deployed on a long-term space mission, having arrived on the ISS in March alongside three Americans and three Russians, and the first Arab to perform a spacewalk, AlNeyadi is blazing a trail for the Arab world’s budding space industry.
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