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Recent stories from sustg

  • Tourists to KSA spend over $37b in 2023
     

    The Ministry of Tourism released it’s annual tourism statistics report for 2023 this week reflecting significant growth in tourist numbers and spending.

     
  • Saudi Arabia’s Capex Super Cycle – Goldman Sachs
     

    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.

     
  • Saudi Arabia leads GCC IPO momentum in Q2 2024
     

    In Q2 2024, the GCC witnessed a significant uptick in IPO activity, with 13 listings raising a combined $2.64 billion. This surge in capital was primarily focused on the healthcare, education, and technology sectors.

     
  • Calligraffiti – Saudi Artist Ahmed Al-Sulaimani
     

    Saudi artist Ahmed Al-Sulaimani is making a name for himself blending Arabic calligraphy and graffiti-inspired techniques and was recently featured in an Arab News report.

     
  • Saudi Arabia Updates Investment Law
     

    Building on previously announced reforms under Vision 2030 and the National Investment Strategy, the Cabinet has approved an updated investment law for Saudi Arabia. The updated law brings together several existing freedoms and rights and expressly applies them to investors under one unified framework, providing investors with greater transparency, flexibility and confidence.

     
  • Prince Mohammed bin Salman Royal Reserve
    • August 9,2024
    • •
     

    Covering 24,500 KM2, the Prince Mohammed Bin Salman Royal Reserve is located south of Neom in northwestern Saudi Arabia. It covers 1% of Saudi Arabia’s terrestrial area and 1.8% of its marine area, it is home to over 50% of the Kingdom’s marine and terrestrial species.

     
  • Halo Space Preparing For Saudi Arabian Stratospheric Test Flight
     

    Spanish company HALO Space is developing a new form of space travel called stratospheric ballooning. This involves using a large helium-filled balloon to carry a pressurized capsule carrying passengers up to the stratosphere, which is about 35 kilometers 922 miles) above the Earth’s surface.

     
  • Saudi Arabia announces Labor Law amendments to improve work environment
     

    The Ministry of Human Resources and Social Development said the new amendments encompass 38 articles, deleting seven articles, and adding two new articles to the Labor Law. The new amendments will be effective after 180 days from the date of their publication in the official Gazette.

     
  • Chinese Language Instruction in KSA
    • August 6,2024
    • •
     

    During Saudi Crown Prince Mohammed bin Salman’s State Visit to China in February 2019 Saudi Arabia and China agreed to include the Chinese language as a curriculum at all stages of education in schools and universities across the Kingdom.

     
  • Saudi Solar Power capacity picking up speed
     

    GlobalData predicts that, at its current pace, Saudi Arabia’s renewable power capacity could increase at a compound annual growth rate (CAGR) of 40.1% between 2023 and 2030, to reach 31.5 GW by 2030 and 63.1 GW by 2035. 

     

MUST-READS

  • Saudi Arabia reopens its land borders with UAE, Kuwait, Bahrain

    Commercial trucks carrying goods for the Kingdom will also be allowed to enter through land ports from Gulf Cooperation Council (GCC) states following a circular issued by Saudi Customs.

  • King Fahd Causeway with Bahrain Reopens

    The 25km-long causeway linking Saudi Arabia to Bahrain was shut down on March 7 as part of a slew of measures to fight the spread of coronavirus. The reopening of the causeway comes as the Kingdom is easing virus-related measures to prop up the economy.

  • Saudi citizens allowed to enter Kingdom by land from UAE, Bahrain and Kuwait

    Saudi citizens, their immediate family members and their domestic staff are now able to enter the Kingdom by land from Kuwait, Bahrain and the UAE without obtaining prior authorization. Land borders with those three countries reopened on Thursday.

  • Bahrain, Qatar have world’s top coronavirus infection rates

    The tiny neighboring Middle Eastern sheikdoms of Bahrain and Qatar have the world’s highest per-capita rates of coronavirus infections, fueled initially by the virus sweeping undetected through camps housing healthy young migrant workers, studies show. But both countries’ COVID-19 fatality rates remain strikingly low.

  • Saudi Arabia opens land entry points with Kuwait and Bahrain for return of citizens

    Saudi Arabia’s embassies in Kuwait, Bahrain and Jordan have announced the opening of land ports for the return of Saudi citizens and their family members without prior permission effective from today, Thursday. The land ports of Al-Khafji, Al-Raqai, Al-Batha and King Fahd Causeway were opened to facilitate the return of citizens from the neighboring Gulf States.

  • Bailed-out Bahrain may need more Gulf support as soon as this year

    Bahrain may need more financial aid from fellow Gulf Arab states as soon as this year but its wealthier neighbours could themselves be hamstrung by low oil prices and the economic impact of the new coronavirus, bankers and analysts said. Bahrain, rated junk by major credit rating agencies, in 2018 received a $10 billion aid package over five years from Saudi Arabia, Kuwait and the United Arab Emirates to help it avoid a credit crunch in a deal tied to fiscal reform.

  • Bahrain to build region’s first logistics “Smart Hub”

    Pharmaceuticals and medical devices supplier, Bahrain MVC Global, and logistics provider, Cox Logistics Group has come together to develop the first ‘Smart Hub’ in the Middle East to integrate a track and trace system on a blockchain platform.

  • Bahrain Follows Saudi Arabia, Oman With Budget Cuts Amid Crisis

    The Gulf country will slash operating expenses for ministries and government departments by 30%, the state-run Bahrain News Agency reported Monday. The cabinet also agreed to reschedule a number of construction and other projects to help meet emergency costs of preventing the spread of the virus. Other proposals it approved include a regulation granting workers unpaid leave.

  • Bahrain issues $11.4bn stimulus to counter COVID-19 economic impact

    The $11.4bn (BHD4.3bn) stimulus package is equivalent to 29.6% of Bahrain’s annual GDP, and covers an eight-point strategic commitment by the government.

  • Saudis told to stay home as Bahrain reports Gulf’s first coronavirus death

    Qatar, where most of the population is made up of expatriates, reported 38 new cases including three Qataris who had been in Europe, state news agency QNA said. This took Qatar’s tally to 439 and the total number of infections in the six-nation Gulf Cooperation Council to 1,042.