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Saudi National Day, Significant Traction in Airline/Travel Reforms, Saudi-Greece Relations, and more – The 966 Episode 60
- September 23,2022
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- SUSTG Team
Episode 60! The 966 wishes everyone a fun and safe Saudi National Day. This week, the hosts re-connect after a two week hiatus for the 60th episode of the show. First, the hosts discuss Richard’s one big thing, which is a deep dive on Saudi-Greece relations of late and why that bilateral relation is one […]
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US’ Advent Technologies signs MoU with Saudi-based Hydrogen Systems; Saudi Wants Green Hydrogen Commitment from EU
- September 16,2022
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- SUSTG Team
US-headquartered Advent Technologies has signed a Memorandum of Understanding with Riyadh-based Hydrogen Systems “to provide integrated hydrogen solutions and value-added support to industrial and renewable energy markets in the Middle East,” Zawya reports.
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C3 US-Arab Healthcare and Business Summit Set for September 19th, 2022 at Union League Club in New York City
- August 22,2022
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- SUSTG Team
The C3 US-Arab Healthcare and Business Summit, a leading conference in the sector now in its 11th Annual edition, is set to take place September 19th, 2022 at the Union League Club in New York City.
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PIF Returns to Buy-Low Playbook with 2Q Stock Market Buying Spree
- August 18,2022
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) bought shares in Alphabet, Zoom Video, and Microsoft this week as part of a wider pick of U.S. stocks, bringing the market value of the sovereign wealth fund’s investment portfolio to about $40.8 billion at the end of the second quarter, Reuters reports.
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The music industry in Saudi Arabia and more with Ahmed Shawly and Mostafa Fahmy from Jeddah’s ‘Wall of Sound’ Record Label
- August 12,2022
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- SUSTG Team
Episode 56! The 966 welcomes Ahmed Shawly and Mostafa Fahmy from the Jeddah-based Wall of Sound record label and recording studio to talk about the young and growing music industry in Saudi Arabia, their entrepreneurial journey building the business from the ground up in a new industry with a blend of established and new, indie […]
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Eyad Albayouk from Flat6Labs talks Saudi VC and KSA’s startup ecosystem, reacting to the unveiling of The Line at NEOM and more
- July 29,2022
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- SUSTG Team
Episode 54! The 966 talks with Eyad Albayouk from the VC firm Flat6Labs KSA. Eyad chats with us about Saudi Arabia’s growing startup ecosystem and entrepreneurship in the Kingdom, and the state of Saudi VC in 2022 as the Kingdom ramps up Vision 2030 execution. Before the interview, the hosts discuss the recently announced megaproject, […]
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Saudi Arabia’s Venture Capital Funding Soars Threefold to $584m in the First Half of 2022
- July 21,2022
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- SUSTG Team
Saudi Arabia’s nascent venture capital scene is beginning to roar to life, tallying a threefold year-on-year increase in venture capital investments in the first half of 2022, according to a report on the sector by Magnitt.
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U.S. Department of Commerce and Saudi Ministry of Commerce Announce Plan to Deepen Commercial Cooperation
- June 16,2022
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- SUSTG Team
The U.S. and Saudi Arabia announced a new plan for cooperation between the two nations aimed at deepening the bilateral commercial relationship, per a press release.
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It’s Official: President Biden to Visit Saudi Arabia July 15-16 2022; will Meet with King Salman, Crown Prince Mohammed bin Salman
- June 14,2022
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- SUSTG Team
President Biden will be conducting an official visit to the Kingdom of Saudi Arabia on July 15-16, a statement from the White House and separately from Saudi Arabia’s royal court confirmed, capping weeks of behind-the-scenes work to arrange for the visit.
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A conversation with Mark Thompson and Neil Quilliam on their new book on Saudi Arabia, reacting to the latest with LIV Golf, and more
- June 10,2022
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- SUSTG Team
In episode 47, the hosts welcome on Dr. Mark Thompson and Dr. Neil Quilliam, authors of a new book on Saudi Arabia’s governance and policymaking, for a fascinating discussion on how decision-making is changing and evolving at all levels in Saudi Arabia as Vision 2030 continues apace.
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MUST-READS
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Saudi Arabia rebrands as mediator for global crises
Saudi Arabia's Crown Prince Mohammed bin Salman is increasingly busy hosting state leaders who fly in to discuss pressing global conflicts. This Monday, Ukrainian President Volodymyr Zelenskyy met the Saudi Crown Prince to speak about Russia's war in Ukraine. This is ahead of a Tuesday meeting between Ukrainian and a US teams set to negotiate a potential end to Russia's war of aggression, as well as a security deal that would include US access to Ukraine's valuable mineral and metal deposits. It will be the first time that Ukrainian and US delegates talk face-to-face after the public spat between US President Donald Trump and President Zelenskyy in the White House in late February. The fact that the two countries have agreed to meet in Saudi Arabia — and not, say, in Europe — highlights the emerging key position of the oil-rich kingdom in the Middle East. "Saudi Arabia has indeed established itself as a platform for dialog in the last two to three years," Sebastian Sons, a senior researcher for the German think tank CARPO, told DW. "In Saudi Arabia's foreign policy strategy, it currently plays a very important role to talk to everyone," he added.
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Back to Violence in Syria?
Mohanad Hage Ali is the deputy director for research at the Malcolm H. Kerr Carnegie Middle East Center in Beirut, where his work focuses on the shifting geopolitics and Islamist groups after the Arab uprisings. Hage Ali has long been following developments in Syria, and Diwan interviewed him in early March to get his perspective on the situation in the country, particularly the growing tensions between the new leadership in Damascus and Syrian minority communities, as well as Israel’s intentions in Syria.
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Saudi Arabia, Ukraine Issue Joint Statement Emphasizing Strong Economic Ties and Collaborative Efforts to Enhance Trade Volume
The Kingdom of Saudi Arabia and Ukraine commended the strong economic ties between the two friendly countries and emphasized the importance of joint action to develop the volume of trade exchange. The two sides also welcomed the upcoming reestablishment of the Saudi-Ukrainian Business Council in 2025. This came in a joint statement issued following the visit of Ukrainian President Volodymyr Zelenskyy to the Kingdom of Saudi Arabia, the text of which reads as follows: "Within the framework of distinguished relations and close cooperation between the Kingdom of Saudi Arabia and Ukraine, President of Ukraine Volodymyr Zelenskyy paid an official visit to the Kingdom of Saudi Arabia on March 10, 2025. His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, received President Zelenskyy at Al-Salam Palace in Jeddah. They held an official discussion session, during which they reviewed the aspects of the distinguished relations between the two friendly countries, and expressed their desire to enhance them in all fields.
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US wants Ukraine to ‘do difficult things,’ Rubio says ahead of Saudi ceasefire talks
The two sides have framed Tuesday's talks as a way to reset bilateral relations following last month's explosive Oval Office meeting between Trump, Zelenskyy and Vice President JD Vance. The showdown prompted Trump to denounce Kyiv as the main impediment to peace in Ukraine, as well as placing a freeze on U.S. military aid and some intelligence sharing. "The most important thing that we have to leave here with is a strong sense that Ukraine is prepared to do difficult things," Secretary of State Marco Rubio -- who will lead the U.S. delegation -- said on Monday ahead of the talks. Zelenskyy has stressed his readiness for peace, though repeatedly warned that any agreement must ensure deterrence against future Russian aggression. On Monday, Zelenskyy -- who will not take part in Tuesday's talks -- traveled to Saudi Arabia to meet with crown prince and de facto ruler Mohammed bin Salman.
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Damascus faces demands for accountability after civilian killings
Syria's Islamist-led government on Monday said it had completed a military operation against a nascent insurgency by Bashar al-Assad loyalists, as it faced Western demands for accountability over the reported killing of hundreds of civilians. The violence in Syria's coastal region marks the biggest test for interim President Ahmed al-Sharaa since he seized power in December, with hundreds of civilians reported by a war monitor to have been killed in Alawite villages as government forces sought to crush the insurrection by members of Assad's minority Alawite sect.
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The Politics of Water Insecurity in the Middle East
The Middle East is no stranger to water scarcity and violence. For centuries, conflict has exacerbated water insecurity and vice versa. But the region is now at a tipping point. Groundwater aquifers are running dry or becoming contaminated, populations are exploding, and borders are more hardened than ever, making resettlement—a time-tested survival strategy—impossible. As is the case across much of the region, water security fell prey to the lack of political progress on resolving underlying conflicts. Without that political progress, donor governments and aid agencies have resorted to applying technical fixes to political problems. But in the Palestinian territories, as in much of the world, water insecurity has been a sign of deeper dysfunction.
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Zelenskyy arrives in Saudi Arabia to meet prince ahead of summit with U.S.
Ukrainian President Volodymyr Zelenskyy arrived Monday in Saudi Arabia for a visit with its powerful crown prince ahead of his team’s meeting with America’s top diplomat. While Zelenskyy won’t be there, his team will try to repair the damage done when his Feb. 28 visit to Washington descended into an Oval Office argument with President Donald Trump and Vice President JD Vance. At stake is the military aid and intelligence previously offered by the United States that had helped Ukraine since Russia’s full-scale invasion in 2022. U.S. Secretary of State Marco Rubio and Zelenskyy landed a few hours apart in Jeddah, a port city on the Red Sea where the Ukraine-U.S. summit will take place Tuesday.
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Perspective: How Saudi Arabia and the US might reset the Middle East
A new order is emerging in the Middle East. For decades, Iran wielded influence across the region by cultivating a network of proxies that created instability in several Arab countries, from Lebanon to Yemen. Today, however, Iran’s regional status is drastically diminished. In contrast, Saudi Arabia is establishing itself as the most influential power in the Arab world. With Donald Trump’s administration back in Washington, Saudi Arabia and the United States can strengthen their partnership to neutralize the threat of destabilization by Iran and alter the balance of regional power for a generation. Until 2023, Iran had prided itself on what it called the ‘axis of resistance’ – its network of proxies and allies in the Arab world. Today, that ‘axis’ is no more. Israel has defeated both Hamas and Hezbollah militarily. Most of Iraq’s PMFs have largely distanced themselves from the rest of Iran’s proxies’ war with Israel.
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Saudi market performance since March 2009 bottom
Sixteen years have passed since the Tadawul All-Share Index (TASI) hit its lowest level on March 9, 2009, at 4,130 points amid the global financial crisis. The benchmark rebounded in the second half of 2007 and early 2008, driven by petrochemical stocks that hit record highs, pushing the index close to 12,000 points. However, the global crisis, which sparked in mid-2008, weighed on the markets worldwide. TASI ended today, March 9, 2025, at 11,837 points — a surge of 187%, compared to its close on March 9, 2009. However, the index declined by 6.1% (763 points), down from 12,600 points in March 2024.
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PIF launches Al Waha, first Saudi-owned duty-free retailer
PIF today announced the establishment of Al Waha Duty-Free Company (Al Waha), a travel retailer and the first Saudi-owned duty-free operator. Al Waha, a wholly owned PIF company, will become a leader in travel retail and secure a greater share of passenger spending for the Saudi economy. Al Waha will develop luxury retail outlets in select locations across the country and feature a variety of merchandise including distinctive, high-quality Saudi products. Al Waha will operate its airport outlets on a duty-free basis, and will explore additional travel retail opportunities at land border crossings and seaports, as well as channels such as inflight shopping. Majed Al-Assaf, Head of Consumer Goods and Retail in MENA Investments at PIF, said: “By establishing Al Waha as a national travel retail champion, PIF intends to grow the Saudi travel retail industry and further support its ambitions for the tourism sector in Saudi Arabia. Al Waha will offer a distinctive traveler experience across Saudi travel retail touch points through diverse product offerings, a duty-free operation and a superior digital customer journey.
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