SUSTG.com / Research

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

Recent stories from sustg

MUST-READS

  • Saudi Arabia Raises Oil Prices to Asia

    Saudi Aramco in the weekend raised the price of its Arab Light grade loading for Asia in November by $0.90 per barrel to a premium of $2.20 a barrel above the Dubai/Oman benchmark. The Dubai/Oman quotes are the benchmark against which Middle Eastern producers price their supply to Asia. Refiners and traders in Asia had expected the rise to be more modest, by about $0.65 per barrel.

  • HALO Space expands testing operations to Saudi Arabia

    Saudi Arabia’s Communications, Space, and Technology Commission has played a key role in supporting HALO Space’s endeavors. The upcoming full-scale, uncrewed test flight of the Aurora capsule is scheduled for late 2024 and aims to reach altitudes of up to 20 miles (30 kilometers). This flight is expected to be critical for validating the capsule’s systems and safety mechanisms before future commercial flights are planned.

  • Saudi Arabia Box Office Outperforms Western Markets This Year So Far as ‘Bad Boys: Ride or Die’ Becomes Country’s Highest-Grossing Film

    Ahead of the second edition of the Saudi Film Confex industry conference in the kingdom’s capital of Riyadh that aims to boost the local film industry, Variety spoke to the Comscore team to break down recent figures that show a 5% dip in admissions (13,663,012 in 2024 vs. 14,455,179 in 2023) combined with a 13% drop in box office grosses ($174,431,499 in 2024 vs. $245,486,760 in 2023). The latter is due to a government move to lower ticket prices.

  • Saudi Arabia’s PIF eyeing stake in sports streamer DAZN, sources say

     Saudi Arabia's Public Investment Fund is among potential bidders exploring the purchase of a minority stake worth around $1 billion in DAZN, the sports-streaming group backed by billionaire Len Blavatnik, two people with knowledge of the matter said. If successful, such a deal could increase the fund's influence in European football as DAZN is a broadcasting partner for Italy's Serie A, Spain's LaLiga, Germany's Bundesliga and France's Ligue 1.

  • Saudi Arabia Said to Tee Up Multibillion-Dollar Bet on Hydrogen

    The kingdom’s sovereign wealth fund, chaired by de facto ruler Crown Prince Mohammed bin Salman, has created a company called Energy Solutions Co. to finance so-called green hydrogen power production, the people said, asking not to be identified as the information is private.  The Public Investment Fund expects the firm to invest at least $10 billion, the people said, though that number could grow significantly in years to come depending on demand for hydrogen and its investment pipeline. Some investments will be made with state oil producer Saudi Aramco, they said.

  • Saudi Arabia opens doors to Hong Kong stocks with launch of 2 ETFs at month-end: SFC CEO

    Financial Secretary Paul Chan Mo-po will lead a delegation comprising scores of local regulators and financiers to the FII conference in Riyadh and to mark the launch of the ETFs, according to Julia Leung Fung-yee, CEO of the Securities and Futures Commission (SFC).

  • Saudi Arabia intensifies its efforts to provide aid to Gaza

    Since the conflict erupted on Oct. 7 last year, Saudi Arabia has directly donated $185 million in humanitarian aid to Palestine through the Saudi aid agency KSrelief, Foreign Minister Prince Faisal bin Farhan told the UN General Assembly. Prince Faisal also noted in his speech on Sept. 28 that Saudi Arabia is working with different UN agencies to raise a total of $106 billion for reconstruction and humanitarian aid.

  • AI is powering Saudi Arabia’s next wave of economic growth: Video

    Saudi Arabia is betting big on AI to power its post-oil future, with the technology set to inject over $135 billion into the economy by 2030.

  • Saudi Arabia’s e-commerce sees 9.4 per cent increase

    Saudi Arabia's e-commerce sector is experiencing growth, with 39,769 new businesses registered in the third quarter of this year, reflecting a 9.4 per cent increase compared to last year. According to the latest data from the ministry of commerce, Riyadh topped the list with 16,274 registrations, followed by Mecca at 10,023 and the Eastern Province with 6,328. The regions of Medina and Qasim reported 1,897 and 1,302 registrations, respectively.

  • Aramco Digital bets on partnerships to build Saudi Arabia’s AI ecosystem

    Aramco Digital has also signed several Memorandums of Understanding (MoU) at the Global AI Summit held in Riyadh recently. It inked a deal with Cerebras Systems and FuriosaAI to explore collaboration in the supercomputing and AI domains and also partnered with South Korea's Rebellions to deploy Rebellions Neural Processing Unit chips in Aramco's data centers. In addition, Aramco Digital has signed an MoU with SambaNova Systems to accelerate AI capabilities, innovation and adoption across the country. It also announced the deployment of an AI supercomputer powered by NVIDIA GPUs, one of the region's first systems of its kind.