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Middle East accounts for 7.5% of global crypto volume
- September 27,2024
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- SUSTG Team
According to Chainanalysis’ 2024 Geography of Cryptocurrency Report The Middle East & North Africa (MENA) region ranks as the seventh-largest crypto market globally in 2024.
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Saudi Tourism: Who is traveling?
- September 26,2024
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- SUSTG Team
The International Monetary Fund’s (IMF) recent report on the Saudi economy reflected a Saudi tourism landscape that is getting broader and deeper
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OPEC releases World Oil Outlook 2024
- September 25,2024
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- SUSTG Team
The Organization for Petroleum Exporting Countries (OPEC) issued its 2024 World Oil Outlook forecasting significant growth in global energy demand between now and 2050.
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IEA report says 2030 renewable energy goals within reach
- September 24,2024
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- SUSTG Team
Coinciding with the United Nations General Assembly in New York, the International Energy Agency (IEA) has issued ‘From Taking Stock to Taking Action’ report that concludes the goal to triple global renewable energy capacity by 2030 and cut fossil fuel use is within reach, but will require a huge push to unlock bottlenecks such as permitting […]
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Saudi Arabia celebrates its 94th National Day
- September 22,2024
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- SUSTG Team
Saudi Arabia marked its 94th National Day on September 23, 2024 commemorating the unification of the Kingdom under King Abdulaziz Al Saud in 1930.
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MBS confirms Saudi position regarding recognition of Israel
- September 20,2024
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- SUSTG Team
In an address to the Shoura Council, Saudi Crown Prince Mohammed bin Salman said that Saudi Arabia would not recognize Israel without the establishment of a Palestinian state.
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KSA moves forward on its nuclear energy plans
- September 19,2024
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- SUSTG Team
The IAEA has for years been in talks with Riyadh on making the switch to a Comprehensive Safeguards Agreement that covers issues like inspections in countries that have ratified the nuclear Non-Proliferation Treaty.
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Epic Boeing 777 journey by land captivates Saudis
- September 18,2024
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- admin
Three retired Saudia Airlines Boeing 777s traversed Saudi Arabia by land from Jeddah to Riyadh to be part of the Riyadh Season 2024 Boulevard Runway zone.
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KSA FDI outlook
- September 17,2024
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- SUSTG Team
Saudi Arabia’s net FDI rose 5.6% in Q1 2024 with tourism investment leading the way along with construction, electronics, and financial service sectors, among others. The United States is the home country for 333 ongoing and announced projects; by far the leading country.
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Aramco Digital and Groq to build world’s largest inferencing data center
- September 16,2024
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- admin
American AI chip startup Groq will partner with Aramco Digital to establish what would be the world’s largest AI inference data center in Saudi Arabia.
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MUST-READS
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Commentary: Saudi Arabia’s political messages in response to Netanyahu
Notably, Riyadh is spearheading ongoing efforts by leading the Global Alliance for the Implementation of the Two-State Solution, as announced by Foreign Minister Prince Faisal bin Farhan at the UN General Assembly last September. This initiative is in collaboration with Arab and Islamic countries, as well as the EU and Norway. The objective is to develop a “practical plan to achieve shared goals for the desired peace,” as stated by Prince Faisal, who affirmed that “we will exert our utmost efforts to establish a reliable and irreversible path toward a just and comprehensive peace.”
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No booze in 2034 World Cup, LGBTQ fans welcome, Saudi ambassador says
Saudi Arabia will uphold its current ban on alcohol during the 2034 World Cup, said Khalid bin Bandar Al Saud, the host country's ambassador to the United Kingdom. Global soccer governing body FIFA officially announced Saudi as hosts of the 2034 World Cup in December. The kingdom banned alcohol, which is prohibited for observant Muslims, in 1952. It was not sold at stadiums in neighbouring Qatar, where drinking in public is illegal, during the 2022 tournament but beer was available at designated fan zones and in some hotels. "Plenty of fun can be had without alcohol - it's not 100 per cent necessary and if you want to drink after you leave, you're welcome to, but at the moment we don't have alcohol," Khalid bin Bandar told British radio station LBC on Wednesday. "Rather like our weather, it's a dry country. Everyone has their own culture. We're happy to accommodate people within the boundaries of our culture but we don’t want to change our culture for someone else."
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Saudi Arabia is evaluating BRICS membership, says economy minister
Saudi Arabia is evaluating the benefits of joining the BRICS economic bloc, Faisal Alibrahim, the Kingdom’s minister of economy and planning, said at the World Governments Summit on Wednesday. Speaking during a session titled “The Emergence of Multiple Economic Blocs,” Alibrahim highlighted Saudi Arabia’s commitment to fostering global dialogue while navigating an increasingly fragmented economic landscape. The BRICS bloc was formed in 2009 and initially named after its original founders Brazil, Russia, India and China, while South Africa joined a year later. It now has 10 full members including Iran, Egypt, Ethiopia, the UAE and Indonesia. Alibrahim said economic blocs such as BRICS were not an end in themselves but tools to promote stability and integration. “Dialogue is important. It’s important for the Kingdom and for the world today.”
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Saudi Arabia assumes presidency of global anti-corruption network
Saudi Arabia, through its Oversight and Anti-Corruption Authority, or Nazaha, has assumed the presidency of the Global Operational Network of Anti-Corruption Law Enforcement Authorities. Spain handed over the leadership of the GlobE Network during a ceremony at the UN Office on Drugs and Crime’s headquarters in Vienna, Austria, the Saudi Press Agency reported on Wednesday. Nasser Nasser Abaalkhail, Nazaha’s deputy for international collaboration, was installed as chairman of the committee, with Boni de Moraes Soares, Brazil’s national solicitor for international affairs, as vice chair.
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Saudi Arabia, Tanzania Sign Trade Agreements and Establish Joint Business Council
The Federation of Saudi Chambers of Commerce and the Tanzania Chamber of Commerce, Industry And Agriculture (TCCIA) signed an agreement to establish a joint Saudi-Tanzanian business council, marking a significant stride towards enhancing economic cooperation between the two countries. The signing ceremony took place in Dar es Salaam on the sidelines of the Saudi-Tanzanian Roundtable meeting held yesterday, in which ministers, officials, and business leaders from both countries took part. During the meeting, discussions revolved around exploring partnership opportunities in vital sectors such as ports, agriculture, and transportation. The event also witnessed the signing of trade agreements between Saudi and Tanzanian companies across various economic sectors.
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Largest Middle East maritime exercise unites over 35 nations
The Middle East’s largest maritime exercise, International Maritime Exercise (IMX) 2025, officially commenced on February 10th in Bahrain and Jordan, according to a press release. The 12-day training event, hosted by U.S. Naval Forces Central Command (NAVCENT), features over 5,000 personnel from more than 35 nations and international organisations. IMX 2025 is linked with Exercise Cutlass Express, led by U.S. Naval Forces Europe-Africa, allowing for extensive information sharing between maritime operations centres. The goal is to enhance theatre-to-theatre coordination, reduce operational gaps, and strengthen partner nation capabilities in responding to maritime threats.
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Senior Arab officials warn that Trump Gaza plan would inflame Middle East
Arab League Secretary General Ahmed Aboul Gheit warned the World Government Summit in Dubai that if Trump pressed ahead with his plan, he would lead the Middle East into a new cycle of crises with a “damaging effect on peace and stability.” Jasem Al-Budaiwi, who heads the oil-rich Gulf Cooperation Council political and economic alliance, called on Trump to remember the strong ties between the region and Washington. “But there has to be give and take, he says his opinion and Arab world should say theirs; what he is saying won’t be accepted by the Arab world.”
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Energy, petroleum ministries trade blame as blackouts roil Tehran
Unplanned power outages in Tehran have sparked a highly public blame game between Iran’s energy and petroleum ministries—leading both conservative and pro-reform media to call on the Reformist administration to stop evading responsibility. As Iran continues to grapple with an ongoing energy crisis, government justifications have done little to ease frustrations as blackouts roil an economy already under strain.
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Saudi Arabia welcomes ‘riviera’ in Gaza but not by removing Palestinians: Ambassador
Saudi Arabia would welcome a riviera in Gaza, but not by removing the Palestinian people, a senior Saudi diplomat said on Wednesday. The diplomat was responding to US President Donald Trump’s recent proposal for the United States to take over Gaza and develop it into the “Riviera of the Middle East.” “My government’s position is that we would welcome a riviera in Gaza. I think that would be wonderful,” Saudi Ambassador to the United Kingdom Prince Khalid bin Bandar said. “But we’re not going to do it by removing the Palestinian people, certainly not moving them to Saudi; they don’t want to move. You know, it’s their land, it’s their territory. They deserve all the best that we can provide for them there, and we’d welcome America’s efforts to improve their situation on the ground,” Prince Khalid said in an interview with the London Broadcasting Company (LBC).
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Saudi economy surpasses key milestone in diversification: Investment Minister
Saudi Investment Minister Khalid Al-Falih said the kingdom's economy has passed a major milestone in its diversification process, with non-oil activities now accounting for 52% of total economic activity. Speaking at the PIF Private Sector Forum 2025, Al-Falih noted that Saudi Arabia’s economy stood at SAR 4 trillion ($1.1 trillion) by the end of 2024. He revealed that private sector investments are expected to reach SAR 1.2 trillion in 2024, based on preliminary fourth-quarter estimates. This marks a sharp increase from SAR 600 billion before Vision 2030, bringing the country closer to its goal of raising fixed capital formation to 30% of GDP.
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