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SoftBank to Create Industrial Robots for Saudi Arabia
- February 22,2024
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- SUSTG Team
Alat (Arabic for ‘machines’), the PIF funded $100 billion initiative to create an automated manufacturing hub in Saudi Arabia will invest up to $150 million in partnership with SoftBank.
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2nd Edition of FII in Miami, Florida Kicks Off Tomorrow
- February 21,2024
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- SUSTG Team
Leaders from the public and private sector, business and finance executives and others will descend this week on Miami for the second FII event to take place in that city to discuss potential solutions to the planet’s ongoing conflicts and climate change, as well as artificial intelligence.
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What it’s like to live in Saudi Arabia during Riyadh Season, PIF-backed Alat launches with eyes on a big impact, and more…
- February 20,2024
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- SUSTG Team
The boys are back for their normal format and catch up on just some of the seemingly endless new developments and storylines emerging from Saudi Arabia of late.
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Fitch Affirms Saudi Arabia at ‘A+’ with Outlook Stable
- February 6,2024
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- SUSTG Team
Fitch Ratings has affirmed Saudi Arabia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘A+’ with a Stable Outlook, the ratings agency said. “Saudi Arabia’s ratings reflect its strong fiscal and external balance sheets, with government debt/GDP and sovereign net foreign assets (SNFA) considerably stronger than both the ‘A’ and ‘AA’ medians, and significant fiscal buffers […]
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Kingdom Launches ‘Alat’, A New Effort to Transform Saudi int Electronics and Advanced Industries Hub
- February 2,2024
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman announced on Thursday the launch of a new Public Investment Fund company called “Alat,” which will contribute to the aim of making Saudi Arabia a global hub for sustainable technology manufacturing that focuses on advanced technologies and electronics, Saudi Press Agency reported.
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Report: Saudis Resume US Defense Talks After Pause From Israel-Hamas War
- January 31,2024
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- SUSTG Team
Saudi Arabia has resumed talks with the US about forging closer defense ties after a pause following the start of the Israel-Hamas war in early October, according to people familiar with the discussions, Bloomberg reports.
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The PIF’s biggest event of the year in Riyadh, the latest on the Saudi peace plan, and alcohol in Saudi Arabia? — The 966 Episode 120
- January 30,2024
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- SUSTG Team
In episode 120, The 966 once again has on offer a menu of excellence discussing some of the most important topics happening in Saudi Arabia this week — a tough decision for the editorial team as Saudi Arabia continues to create headlines as it marches forward with economic and social reforms.
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Saudi Real Estate Prices to Rise 25-40%, Premium Residency a Unique Opportunity – Al Rahji Executive
- January 23,2024
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- SUSTG Team
A Sales Director at Al Rajhi Investment Co. said real estate prices in Saudi Arabia are likely to rise by 25% to 40% in the coming period, Asharq News reported.
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At Davos, Kingdom Pushes Diplomacy and PIF Talks 2024 Investment Strategy
- January 17,2024
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- SUSTG Team
Saudi Arabia’s strong presence at the World Economic Forum in Davos, Switzerland is emblematic of an increasingly confident Kingdom on the global stage, with top officials from both the government and Saudi Arabia’s Public Investment Fund on the ground to promote Saudi Arabia’s interests.
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New Mega Mountain Resort Aquellum, a ‘Subterranean Digitalized Community of the Future,’ Added to NEOM’s Growing Vacation Destination Offerings
- January 11,2024
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- SUSTG Team
NEOM has announced Aquellum, a new “luxury and experiential” vacation destination which is the latest addition to the ongoing regional development in northwest Saudi Arabia.
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MUST-READS
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Saudi Arabia hears dozens of countries critique its human rights record at the UN in Geneva
Saudi Arabia had its record on human rights including freedoms for women, prosecutions for freedom of speech, use of the death penalty and alleged killing of migrants at its border with Yemen critiqued at the United Nations on Monday. In the kingdom’s first formal review at the UN Human Rights Council since November 2018, the Saudi Arabia delegation said more than 50 reforms had since then been passed in favor of women. Delegates were told Saudi Arabia has abolished flogging as a punishment, that minors can no longer be executed, judges are independent and migrant workers are now better protected by law.
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UN urges reversal of funding pause for Palestinian refugee agency
U.N. officials urged countries to reconsider a pause in funding for the U.N. agency for Palestinians on Sunday, pledging that any staff found involved in Hamas' attack on Israel would be punished and warning that aid for some two million people in Gaza was at stake. At least nine countries, including top donors the U.S. and Germany, have paused funding for the UNRWA refugee agency after allegations by Israel that a dozen of its 13,000 staff in Gaza were involved in the Oct. 7 rampage.
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Saudi Arabia welcomes ICJ’s decision against alleged Israeli genocide in Gaza
The Saudi Foreign Ministry has welcomed the International Court of Justice's (ICJ) initial ruling, which addresses alleged genocidal practices and statements against Palestinians in Gaza.
The Ministry supports the decision and condemns Israeli occupation practices, as well as violations of the Genocide Convention. The Ministry also commended South Africa for initiating the lawsuit and urged the international community to intensify efforts to end violence in Gaza, protect Palestinians, and hold Israel accountable for alleged violations of international and humanitarian law. -
World Court says Israel must take steps to prevent acts of genocide in Gaza
The World Court on Friday ordered Israel to take action to prevent acts of genocide as it wages war against Hamas militants in the Gaza Strip, but it stopped short of calling for an immediate ceasefire.Ruling on a case brought by South Africa, the court said Israel must ensure its forces did not commit genocide and take measures to improve the humanitarian situation for Palestinian civilians in the enclave.
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US, Israeli intelligence chiefs to discuss Gaza hostage deal -sources
U.S. Central Intelligence Agency Director William Burns and his Israeli counterpart will meet with Qatari officials in coming days for talks on a second potential Gaza hostage deal, three sources familiar with the matter told Reuters on Thursday.Burns and the head of Israel's Mossad intelligence service, David Barnea, will meet with Qatari Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani in Europe this weekend, one official briefed on the meeting told Reuters.
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UN migration agency seeks $7.9 billion for migrant support
The United Nations migration agency aims to raise $7.9 billion this year through a new funding push to bolster efforts to protect migrants, reduce displacement and expand avenues to migrate legally, it said on Monday.The Geneva-based International Organization for Migration (IOM) is seeking funds from governments, private sector companies and individual donors, according to the announcement."The evidence is overwhelming that migration, when well-managed, is a major contributor to global prosperity and progress," IOM Director General Amy Pope said in a written statement. "We can and must do better."
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Saudi Arabia in prime position for green hydrogen in global energy landscape
“The plan aims to produce 1.2 million tons of green hydrogen and to supply 10% of the global demand for hydrogen by 2030,” they explained. “Furthermore, Saudi Arabia Public Investment Fund (SAPIF) has been investing in several energy projects globally, including a joint venture with Power and Air Products to develop a $5 billion green hydrogen-based ammonia production facility in NEOM, Saudi Arabia. The facility will have a capacity of 1.2 GW and will produce 650 tons of green hydrogen per day.”
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WTA’s Expected Saudi Arabia Announcement Sparks Backlash From Tennis Legends
When he’s not running the tournament, Craig Tiley, chief executive officer of Tennis Australia, has been making the rounds, expressing his adamance that tennis must avoid a LIV golf-style disruption such as a rival league. Though he withdrew from the tournament last week, Rafael Nadal made news Tuesday and surprised several powerbrokers when he announced a tennis ambassador partnership with the Saudi Tennis Federation.
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Saudi Arabia claim another epic win in Qatar — this time even crazier than their upset over Argentina
Over a year after their stunning upset of Argentina at the 2022 FIFA World Cup, Saudi Arabia have returned to Qatar and pulled off another stunning come-from-behind 2-1 win in a tournament opener at the AFC Asian Cup. Only this time it was an even crazier result, if that was even possible.
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The Israeli right undermines Biden’s Middle East agenda
The right-wing prime minister has spent much of his political career chipping away at the prospect of a two-state solution and came back to power with allies further to the right who explicitly reject any talk of Palestinian statehood. They also advocate further Jewish settlement of the West Bank and even of war-blighted Gaza. The rhetoric coming from within Israel has made U.S. attempts to hatch a regional plan to calm the crisis more difficult.
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