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  • Saudi Arabia starts clinical trials to produce COVID-19 vaccine

    Saudi Arabia’s Imam Abdul Rahman bin Faisal University has started the first phase of clinical trials supported by the Ministry of Education to produce a COVID-19 vaccine, after it finished the laboratory experiments and proved their effectiveness.

  • Saudi Arabia and Philips Sign MoU To Utilize Artificial Intelligence In Kingdom’s Health Care System

    The Saudi Data and Artificial Intelligence Authority (SDAIA) and the Netherlands-headquartered company have entered a public-private partnership to incorporate Artificial Intelligence (AI) into the Kingdom’s healthcare system. This partnership aims to expand the provision of AI services in Saudi Arabia’s health sector to improve services and health education, as well as treatment in hospitals and in patients’ homes.

  • Saudi PIF invests in NBK Capital Partners’ shariah credit fund

    Saudi Arabia’s sovereign wealth fund has become an anchor investor in a new $300 million shariah credit fund launched by NBK Capital Partners (NBKCP) that will provide capital to mid-market companies in the Middle East, NBKCP said on Tuesday. It did not disclose the stake taken by Public Investment Fund (PIF), which manages $400 billion in assets, but NBKCP said it was a nine-digit figure, meaning at least a third of the targeted $300 million. Fundraising closes next year.

  • Dubai Cloud Kitchen Startup Plots Saudi, Southeast Asia Push

    Dubai-based Kitopi, a technology startup which runs so-called cloud-kitchens, is set to raise more money from investors later this year as it plans to expand in Saudi Arabia and launch in Southeast Asia. The company, whose kitchens handle delivery orders for multiple food brands, is due to become profitable “this year, sometime very soon,” founder and Chief Executive Officer Mohamad Ballout said in an interview.

  • Saudi Arabia: Barley Trade Quarterly

    In November 2020, the Saudi government decreed to hand back the barley imports and distribution business to the private sector to purchase and sell barley at competitive prices. This trade liberalization is expected to take place at the end of March 2021. As a result, Post anticipates Saudi Arabia will significantly reduce the quantity of imported barley. Meanwhile, Saudi’s revisions to its animal feed subsidy program in January 2020 policy is expected to also have a major impact on U.S. barley exports.

  • Plant-based snack food startup expands in Saudi Arabia

    Plant-based snack food startup Freakin’ Healthy, which was established in 2018 by Saudi-born Lebanese-Canadian entrepreneur Roy Koyess, plans to quadruple the number of stores it serves in the Kingdom by the end of this year. Koyess came up with the Freakin’ Healthy concept in 2017, and it was launched in Dubai the following year.

  • Saudi Arabia Launches Artificial Intelligence Center for Energy

    “The energy system believes in the importance of integration and working as a joint government team with the various relevant bodies, taking into consideration each body’s responsibility and nature of work,” Prince Abdulaziz said. He stressed the significance of the relationship between the energy and data and AI sectors in the Kingdom, “as the energy sector constitutes 40 percent of the Kingdom’s GDP with more than 270,000 employees.”

  • Analysis: Preventing partition: The case against a diplomatic band-aid in Libya

    The historical case against partitioning is twofold. First, partitioning remains a divisive relic of the colonial era. Second, the timeline to achieve peace and stability after partitioning cannot be known. Partitioning was a standard practice to sow division and make it easier to govern divided territories and countries. Proponents of partition argue that it brings peace and stability to the region quickly; the historical examples below would suggest otherwise.

  • ExxonMobil reports results for fourth quarter 2020 and provides perspective on forward plans

    Exxon Mobil Corporation today announced an estimated fourth quarter 2020 loss of $20.1 billion, or $4.70 per share assuming dilution. Fourth quarter capital and exploration expenditures were $4.8 billion, bringing full-year spending to $21.4 billion, $9.8 billion lower than the prior year.

  • What Happened to Oil Product Demand in Saudi Arabia During the First Two Quarters of 2020?

    Anwar Gasim