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Saudi Arabia, World Economic Forum to set up ‘Fourth Industrial Revolution Center’
Saudi Arabia signed an agreement with the World Economic Forum (WEF) on Wednesday to establish a branch in the Kingdom of the WEF’s Center for the Fourth Industrial Revolution, a program focused on new technologies that will power economic change in the immediate years to come. The deal was signed by Mohammed Al-Tuwaijri, the Saudi […]
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Saudi Arabia Names Prince Faisal bin Farhan as New Foreign Minister
Saudi Arabia appointed Prince Faisal bin Farhan Al-Saud as the Kingdom’s new foreign minister as part of a larger reshuffling of the cabinet. Prince Faisal bin Farhan is the third foreign minister in three years. He replaces Ibrahim Al-Assaf, who was relieved of his post and appointed minister of state and a member of the Saudi Council of […]
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Venture Capital Set for Ten-fold Growth Over the Next Six Years in Saudi Arabia
Venture capital investments in Saudi Arabia are set to grow ten-fold over the next six years, according to a new report by Saudi Technology Ventures published by The National. The report says that Venture funding investments are at a “positive inflection point” and are set to grow to $500 million annually by 2025, from $50m last […]
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Law Firm Pillsbury Analyzes First Cases in Saudi Arabia’s New Bankruptcy Law
Law firm Pillsbury published a research note highlighting the recently passed bankruptcy law in Saudi Arabia that incorporated modern alternatives to liquidating businesses in the Kingdom, using the first cases decided by the Saudi judiciary as case studies. “For several years now, judges in [bankruptcy] courts have been involved in seminars and training workshops to help prepare them to rule […]
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First in-depth archaeological survey at Al-Ula hopes to uncover mysteries of the Nabateans
Archaeologists are planning to carry out the first international, in-depth survey of Al-Ula in Saudi Arabia and the surrounding areas “the size of Belgium” in order to better understand the Nabatean people, the BBC reports.
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Saudi Arabia’s Khalid Al-Falih, Ambassador Reema Meet with Rick Perry in Washington to Discuss Cooperation, Supply Security
Saudi Arabia Energy Minister Khalid Al-Falih and Ambassador to the United States Princess Reema bint Bandar met U.S. Energy Secretary Rick Perry on Tuesday in Washington, D.C. for talks on the economy, oil markets, maritime security and U.S.-Saudi cooperation. Al-Falih said that the meeting dealt with “enhancing the distinguished relationship between the two countries and […]
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The Seven Wonders of Arabia, Aramco Expats’ Tribute to the Kingdom’s Top Heritage Sites – Part 2: Historic Jeddah
Last week, SUSTG published the first in a series of posts highlighting the seven wonders of Arabia as selected and featured by AramcoExpats.com, an online blog that is a resource for current and former Saudi Aramco expatriates and their families. As the Kingdom prepares to open itself up to more visitors and boost its tourism industry in line […]
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Report Looks at Surging Role of Sovereign Wealth Funds in GCC Economies
A recently-released joint publication from the Sovereign Wealth Fund Institute (SWFI) and Marmore Mena Intelligence examines the growing role of sovereign wealth funds (SWFs) in GCC economics. Sovereign wealth funds, like the Saudi Arabia Public Investment Fund (PIF), are growing in importance in GCC economies as they press ahead with economic diversification efforts and reduce their […]
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Saudi Arabia’s SALIC invests in crop analytics firm Hummingbird Technologies
The Saudi Agricultural and Livestock Investment Company (SALIC) announced it was leading a £7m ($8.8m) funding round of investments into artificial intelligence startup Hummingbird Technologies, according to the company. Hummingbird, which was set up in 2016, uses drone and artificial intelligence to provide advanced crop analytics to farmers. Hummingbird, using imagery and data analytics from satellite, drone, plane […]
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70 Percent Increase in New Licenses for Foreign Businesses in First Quarter, Al-Omar Says
The number of new licenses approved for foreign businesses in Saudi Arabia rose by 70 percent in the first quarter from a year earlier, the head of Saudi Arabia’s General Investment Authority (SAGIA) said. According to Bloomberg, applications from British and Chinese companies drove the increase, rising by 86 percent and 71 percent, respectively. The data […]
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MUST-READS
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How Might Technology Help Refugees? A Contest Aims To Find Out
In Lebanon, refugees account for 1.5 million of the 4 million people in the country. Around the world, there are an estimated 60 million refugees and displaced people. “It’s difficult not to be thinking, ‘What can I do?’” says Fadel.
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Middle East technology start-up fund raises $30m
MEVF II is a venture capital fund that invests in the region’s early stage technology and mobile businesses and is MEVP’s fourth venture capital fund, increasing its total assets under management to $120 million, a statement said.
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UAE and UNESCO to preserve Middle Eastern archaeology with 3D printing technology
"Extremists want to impose a different vision on the world. They want to tell us that there is no memory, that there is no culture, that there is no heritage,” added Irinia Bokova, Director-General of UNESCO. “We join hands with Dubai Museum of the Future Foundation to participate in the effort to oppose the extremists' vision of the future and to help convey the history to future generations."
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Big Data, Technology And The Middle East Refugee Crisis
With huge numbers such as these, logistics clearly play an important role, and technology – particularly technology driven by data and analytics – is being put to use in some innovative and potentially life-saving ways.
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Saudi Investors Join $70 Million VC Round For Solexel’s Thin Silicon Solar Technology
Solexel, one of the few remaining stand-alone solar silicon startups, has completed a long-in-the-making $70 million round of funding and added Riyadh Valley Company, the VC investment arm of King Saud University of Saudi Arabia, to its list of investors. According to an SEC form, Solexel closed the D round in June.
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How Technology Will Help Enforce the Iran Deal…And Cheat On It
The fact that the Obama administration, its partners, and others have such confidence in the inspections process is why there’s a deal at all. The technology for enforcement has advanced considerably over the last decade, but cheats are just a few hacks away.
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Technology for a Saudi fracking boom moves closer to reality
The key to an energy boom is simple: Build a technology to get at the oil and gas that geologists already know is trapped in various subterranean, or subsea, formations.
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Using technology to empower women in Saudi Arabia
Born in Riyadh, Princess Reema grew up in Washington DC while her father was Saudi Arabia’s ambassador to the United States. She is now the CEO of Alfa International, a Saudi Arabia-based luxury retailer, and she’s also a major advocate for breast cancer awareness in her country.
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Qatar’s latest world cup stadium will include air cooling technology
The organization responsible for building the stadia and infrastructure for the 2022 FIFA world cup has unveiled renovation plans for the khalifa international stadium, the third host venue for the global event. the expansion scheme will increase the arena’s seating capacity to 40,000, while innovative cooling technology inside the design will ensure an optimum playing temperature of 26 degrees celsius.
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KSA green technology patents up 58%
“The Kingdom’s annual growth of 58 percent in patents for inventions in the field of the environment is an indicator of growing awareness and the efforts of local scientists to find solutions for local environmental issues,” Al-Suwaiyel said recently during the opening of the Saudi International Conference for Environment Technology organized by the KACST in Riyadh.
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