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Recent stories from sustg
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Prospects for Saudi Arabia hitting 2030 Renewable Energy Targets
In 2016 Saudi Arabia’s Vision 2030 had an initial target of deploying 9.5GW of green energy by 2030. The latest revision made in 2023 targets 130GW of renewable power capacity by 2030. GlobalData, a leading data and analytics company, says the Kingdom can come close to that target.
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Saudi Arabia Moves Closer to $1 Billion stake in a Pakistani mine – Report
Saudi Arabia is moving closer to a potential deal to acquire a minority stake in a Pakistan mine controlled by Barrick Gold Corp., people with knowledge of the matter told Bloomberg.
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Saudi Arabia Fares Well in 2024 Kearney FDI Confidence Index
Ongoing economic and business-related reforms helped the United Arab Emirates and Saudi Arabia post the biggest jumps in Kearney’s 2024 Foreign Direct Investment Confidence Index. The countries climbed ten spots from 2023, to eighth for the UAE and 14th for Saudi Arabia.
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Saudi defense minister receives phone call from US counterpart; Kingdom denies role in shooting down Iranian attack
Saudi Minister of Defense Prince Khalid bin Salman received on Sunday a phone call from U.S. Secretary of Defense Lloyd Austin, according to reports.
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Dr. William Greene, CIO of the Hevolution Foundation, joins The 966 to talk latest investments, strategy for Hevolution
William Greene, MD, Chief Investment Officer (CIO) of the Hevolution Foundation, joins The 966 to talk about Hevolution’s investment strategy and role as an investor in the emerging field of Healthspan Science. As CIO, Dr. Greene oversees all aspects of Hevolution Foundation’s investment strategy, planning, analysis, and execution.
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Halo Space to test Balloon Flight from Saudi
Spanish company Halo Space is in talks with Saudi regulators to set up a base in the kingdom for balloon flights into space. Ongoing tests are planned for Saudi Arabia this summer.
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Saudi Arabia Gets First Cannes Official Selection Slot With Drama ‘Norah’
Saudi Arabia has landed its first film in the Cannes Film Festival official selection with “Norah,” a drama by pioneering director Tawfik Alzaidi set in 1990s Saudi, according to reports.
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MBS’ True Legacy
Writing in Al-Arabiya, Richard Wilson, SUSTG president and The 966 Co-host, points out the fundamental (rather than flashy) changes that represent Crown Prince Mohammed Bin Salman’s true legacy.
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U.S. Ambassador Michael Ratney joins The 966 for a truly informative Episode #127
U.S. Ambassador Michael Ratney shares his insights with The 966 in a wide-ranging conversation with Richard Wilson. Just over one year in his position, Amb. Ratney offers his perspective on change in Saudi Arabia and an evolving U.S.-Saudi relationship.
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Eid Mubarak 2024
Wishing all peace and serenity on this blessed occasion.
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MUST-READS
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Saudi woman jailed for 11 years over rights posts, Amnesty says
Amnesty International called on Saudi Arabia to free a 29-year-old fitness instructor it says has been sentenced to 11 years in prison for her choice of clothing and social media posts urging an end to the kingdom's male guardianship system.Manahel Al-Otaibi was sentenced in January and details of her case emerged in Saudi Arabia's formal reply to a request from the United Nations human rights office, London-based Amnesty said in a statement on Tuesday.
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Cars are swept away and roads turned into rivers as Saudi Arabia is hit by floods two weeks after apocalyptic Dubai storms blamed on cloud-seeding
Flash flooding has devastated parts of Saudi Arabia this week with shocking footage showing cars being swept away by the deluge as roads were submerged amid torrential downpours.
Clips shared on social media showed how major highways in the Kingdom were overrun by devastating floodwater that cascaded down typically dry and rocky outcrops and swept through cities and towns below.
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Saudi Chemical Giant’s Profit Slumps as Pressures Persist
Saudi Arabia’s top chemicals company reported a 62% drop in year-on-year profit as weak demand puts the industry under stress.
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US and Saudis Near Defense Pact Meant to Reshape Middle East
The agreement faces plenty of obstacles but would amount to a new version of a framework that was scuttled when Hamas militants attacked Israel on Oct. 7, triggering the conflict in Gaza. Negotiations between Washington and Riyadh have sped up recently, and many officials are optimistic that they could reach a deal within weeks, according to the people, who asked not to be identified discussing private deliberations.
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Saudi Arabia’s GDP Contracts Again, With Non-Oil Growth Slowing
Saudi Arabia’s economy contracted for a third straight quarter following the kingdom’s decision to cut petroleum production, while non-oil growth eased to the slowest pace since the coronavirus pandemic.
The non-oil economy — a priority for the government as it looks to open up and transform the country — expanded by 2.8% in the first quarter on an annual basis, according to preliminary data published by the kingdom’s statistics office on Wednesday. That compared to 4.2% in the prior quarter.
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Vision 2030: What are Saudi Arabia’s overarching goals?
The first goal of Vision 2030 is to cultivate a content and fulfilled society, laying the foundation for the attainment of economic prosperity.
According to the Kingdom’s Vision 2030 official website, the goal focuses on creating strong roots that embrace modern Islam, national pride and Saudi heritage and culture, while also providing world-class entertainment options, sustainable living, and efficient health and social care systems.
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Saudi Arabia sees 16% increase in net direct foreign investment
During a meeting of the Council of Economic and Development Affairs (CEDA), the Ministry of Economy and Planning reported a notable 16% increase in net direct foreign investment inflows for the fourth quarter of 2023 compared to the previous quarter.
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State Department OKs Saudi Arabia’s $250M Blanket Order Training Support FMS Request
Under the proposed transaction, the U.S. Navy will also provide professional military education support for Saudi Arabia’s naval forces, which will not require the deployment of any additional U.S. government and contractor personnel to the Middle Eastern country.
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Saudi Arabia’s Vision 2030 Is Too Expensive For Tourists – And Everyone Knows It
Between now and the end of the decade, 320,000 new hotel rooms are expected to open in Saudi Arabia. According to Knight Frank, 82% of those new rooms are in the luxury and upscale segments. And 66% of Saudi’s current 149,400 rooms are also upscale and luxury.
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Can Saudi Arabia’s Vision 2030 still succeed?
“I don’t think I’ve ever met anyone who believed it would be built as conceived, Saudis included,” Jim Krane, energy research fellow at Rice University’s Baker Institute, told The New Arab.
“Erecting a 100-mile-long skyscraper in the middle of nowhere is not a great use of scarce resources.”
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