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The 966 Episode #130, What You Need to Know to Establish a Business in Saudi Arabia, with Saeed Al-Ansari, CEO, Tawaref
- June 2,2024
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- SUSTG Team
Saeed Al-Ansari, Founder and CEO of Tawaref, a Saudi Arabia-based tech investment community that also provides startup advisory, legal consultancy and due diligence support joins Richard Wilson on The 966 [Episode #130] for an exceptionally informative episode on what you need to know to establish a presence in KSA.
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Deals Flow at Third Annual Future Aviation Forum
- May 28,2024
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- SUSTG Team
Organized by Saudi Arabia’s General Authority of Civil Aviation (GACA), the third edition of the Future Aviation Forum, saw the signing of 102 MOUs, agreements and deals totaling over $21 billion along with numerous investment offers in the Saudi aviation sector valued at $100 billion.
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2024 Esports World Cup in Riyadh Buzz Grows
- May 28,2024
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- SUSTG Team
The inaugural 2024 Esports World Cup, an annual event replacing Gamers8 and run by the Esports World Cup Foundation, will take place in Riyadh this July 4 – August 24 featuring 20 events in 19 video game titles as well as the largest prize pool in esports history of over US$60 million.
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PIF launches Neo Space Group (NSG) to boost Saudi Arabia’s satellite and space industries
- May 24,2024
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- SUSTG Team
The Neo Space Group (NSG) will focus on cutting-edge technologies in four dedicated business segments: satellite communications, earth observation and remote sensing, satellite navigation and Internet of Things, as well as a satellite and space-focused venture capital fund.
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Goldman Sachs set to open Regional HQ in Riyadh
- May 24,2024
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- SUSTG Team
Bloomberg reports that Goldman Sachs Group Inc. has become the first Wall Street bank to receive a license from the Ministry of Investment to set up its regional headquarters in Riyadh.
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“The Clean Hydrogen Economy and Saudi Arabia”: A Roadmap to Energy Leadership
- May 21,2024
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- SUSTG Team
Faculty and researchers from King Abdullah University of Science and Technology (KAUST) and King Abdullah Petroleum Studies & Research Center (KAPSARC) have unveiled a new publication: “The Clean Hydrogen Economy and Saudi Arabia.”
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Aramco launches first quantum computer in Saudi Arabia
- May 20,2024
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- SUSTG Team
Aramco has signed an agreement with Pasqal, a global leader in neutral atom quantum computing, to install the first quantum computer in Saudi Arabia.
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U.S. and Saudi Arabia enhance energy cooperation agreement
- May 17,2024
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- SUSTG Team
Building on the Partnership for Advancing Clean Energy Agreement signed in Jeddah on July 15, 2022, Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy of Saudi Arabia, met with U.S. Secretary of Energy Jennifer Granholm in Riyadh to set a detailed timeline for collaborative projects.
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Growing Saudi female sports participation triggers retail growth
- May 16,2024
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- SUSTG Team
Writing for Jing Daily, Julienna Law reports that Saudi Arabia’s sportswear and athleisure apparel market is set to boom as women, in particular, become more active in sports.
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Saudi Entertainment Ventures (Seven) and Qiddiya Combine
- May 15,2024
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- SUSTG Team
Seven, a wholly owned public investment fund (PIF) company, has now become a wholly owned subsidiary of Qiddiya to enhance the offerings of both companies and support its wider strategy for the entertainment, leisure and sports sector.
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MUST-READS
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Israel shoots down missile fired from Yemen after striking Houthis
Israel said it shot down a missile launched from Yemen on Sunday and the Yemeni Houthi movement said it had fired several missiles at the Israeli city of Eilat after Israel's first public strike against the Iran-aligned group a day earlier. The Houthis have launched missiles and drones at Israel and disrupted global trade through the Red Sea in response to Israel's assault on Gaza, further destabilising the Middle East as war in the Palestinian enclave rages on after nine months.
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King Salman issues royal order to change name of Saudi housing ministry
Saudi Arabia’s King Salman issued an order on Sunday to change the name of the Ministry of Municipal and Rural Affairs and Housing to the Ministry of Municipalities and Housing, the Saudi Press Agency reported. Saudi Housing Minister Majid Al-Hogail expressed his gratitude to King Salman, and stressed that the name change was a progressive step reflecting the nation’s commitment to fostering an advanced urban environment in alignment with Vision 2030 objectives.
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Ahmed Mater: The Saudi artist documenting a kingdom in flux
Born in Tabuk in 1979, Mater grew up in Abha in southwestern Saudi Arabia, close to the militarized Yemeni border, at a time of immense social change in the region. The first presentation of his art outside the Kingdom came in 2005 at an exhibition hosted by the British Museum in London. Just over a decade later, he became the first artist to host a solo exhibition in the US, with “Symbolic Cities: The Work of Ahmed Mater” in 2016.
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Kingdom of Gamers: Saudi Arabia to Host Inaugural Esports Olympiad
In a groundbreaking move, Saudi Arabia has announced plans to host the first-ever Olympic-style Esports Games in 2025. This historic event will thrust competitive gaming into the global spotlight like never before, solidifying its status as a true mainstream phenomenon. The scope and scale of modern esports has transformed dramatically over the past two decades. What was once considered a niche hobby for socially awkward basement-dwellers is now a multi-billion dollar industry attracting worldwide audiences and elite athletic talent. The time is ripe for esports to take its rightful place alongside classic Olympic sports.
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Saudi Arabia’s big three banks continue their rankings ascent
Saudi National Bank, Al Rajhi Bank and Riyad Bank maintain their first, second and third positions, respectively, in the national ranking based on Tier 1 capital. However, due to healthy core capital growth, all three institutions gain one place in the Top 1000 World Banks ranking, climbing to 63rd, 77th, and 126th, respectively.
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Meet the Music Entertainment Company Making Saudi Arabia the World’s Most Pioneering New Live Music Destination
Born out of a burning desire to foster a homegrown music and live events scene, and in turn, nurturing ventures like MDLBEAST Records and world-class events such as the Soundstorm music festival and XP Music Futures conference, MDLBEAST is transforming Saudi Arabia into the elite music destination of the future. Now, the group has turned its attention to the Kingdom’s venues and infrastructure, embarking on a history-making project shaping the country’s live music scene with a slew of new venues and creative spaces for collaboration.
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Saudi King, Crown Prince congratulate new Iran president on election win
Saudi Arabia’s King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman congratulated the new president of Iran, Masoud Pezeshkian, on his election victory. “On the occasion of your victory in the presidential elections in the Islamic Republic of Iran, we are pleased to send you our sincere congratulations and best wishes for success, looking forward to continuing to develop relations between our two brotherly countries and peoples, and continuing coordination and consultation in order to enhance regional and international peace and security.”
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Driving Reductions in Emissions: Unlocking the Potential of Fuel Economy Targets in Saudi Arabia
The adoption of more stringent fuel economy standards represents a pivotal pathway toward achieving net zero emissions in the transportation sector. By steadily increasing the fuel efficiency of vehicles, this approach drives a gradual but consistent decline in emissions. When coupled with the simultaneous integration of electric and alternative fuel vehicles into the market, the goal of net zero emissions becomes increasingly feasible.
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How Saudi Arabia is creating a buzz around beekeeping and the honey making industry
Honey has long held a special place in Saudi culture, cultivated by beekeepers across the region for its medicinal and culinary uses. Now, with added government support, its true economic potential and environmental benefits are being realized. Last year, more than 100 licenses were granted to beekeepers to produce this liquid gold on land administered by the Imam Abdulaziz bin Mohammed Royal Reserve Development Authority, predominantly in the Rawdat Khuraim oasis.
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Why Pakistan is looking to Saudi Arabia and the UAE to ramp up investment
Pakistan’s less-than-four-month-old government is pursuing a two-track approach to stabilize the country’s long-troubled economy. It is engaged in lengthy negotiations with the International Monetary Fund (IMF) to secure at least $6 billion in loans to shore up its ability to service its external debt. At the same time, Islamabad is also trying to woo its Gulf allies, most notably Saudi Arabia and the United Arab Emirates, in a bid to diversify its sources of external financing, address the lingering threat of insolvency, and put its economy on an upward trajectory of sustainable growth.
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