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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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Saudi Arabia targets $1.7 trillion in tourism infrastructure by 2030
Official data indicates that as of June 2024, the kingdom has 255 tourism infrastructure projects valued at $1.7 trillion, aligning with its Vision 2030 goal to attract 150 million visitors annually.
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How NEOM Green Hydrogen Company is championing Saudi Arabia’s clean energy transition
“For the future, the keyword is reinforcement,” he said. “We build our policy, procedures and framework around starting the operations and continuing the operations to be environmentally friendly.” NGHC’s ambitions extend far beyond the borders of Saudi Arabia. The project aims to position the Kingdom as a global leader in hydrogen production, while also creating thousands of new jobs and stimulating local economies.
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Saudi Arabia: Experience The Monumental Heritage Of A Kingdom Waiting To Be Explored
Alhasan revealed that Saudi Arabia ranked as one of the top long-haul destinations for Malaysian travelers last year, “representing 23% of all long-distance trips.” In comparison to the figures from 2022, Saudi Arabia saw a significant 15% rise in Malaysian visitors in 2023, highlighting the growing appeal of the kingdom among Malaysian tourists. The Saudi Arabian tourism ministry, through the Saudi Tourism Authority’s (STA) office in Kuala Lumpur, will maintain its strong collaboration with travel partners in Malaysia to further enhance tourism opportunities.
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Foreign Minister Delivers Saudi Arabia’s Speech at the 79th Session of the UN General Assembly
Our world today is witnessing many crises exacerbated by the satisfaction of managing them without finding practical solutions to address them. This is due to the laxity of practical international efforts and selectivity in implementing international law and international humanitarian law. This has resulted in the expansion of the circle of violence and conflicts and the threat to the principles of international legitimacy. This requires us to adhere to the principles and foundations set by the United Nations Charter, work together, and focus on long-term peaceful solutions that ensure the protection of civilians, end fighting and wars, and provide security and development regionally and internationally.
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Saudi Arabia sees 656% surge in leisure tourism in 2024
The most notable development is a 656% increase in tourists arriving for entertainment and holiday purposes. The ministry highlighted that 4.2 million tourists visited for these reasons in the first seven months of 2024, reflecting a 25% rise from the previous year and a significant leap from pre-pandemic levels in 2019.
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Saudi Arabia urges G20 nations to address Israel’s violations and support Palestinian statehood
Saudi Arabia has called on G20 countries to intensify joint efforts to address the international community's failure in confronting Israel’s serious violations of international laws and norms. The Kingdom emphasized the need for a ceasefire and a path toward the establishment of an independent Palestinian state. Saudi Foreign Minister Prince Faisal bin Farhan made the remarks on Wednesday during the second meeting of the G20 Foreign Ministers, chaired by Brazil, on the sidelines of the 79th session of the United Nations General Assembly in New York.
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Saudi Arabia Surges to 14th Position in Global AI Index, 1st in Arab World.
The Kingdom of Saudi Arabia has achieved a significant milestone in the field of artificial intelligence, securing 14th place globally and the top spot in the Arab world in the Global AI Index for 2024, published by Tortoise Intelligence. This remarkable 17-rank improvement among 83 countries underscores Saudi Arabia's rapid progress in AI adoption and development.
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Saudi Arabia Scraps $100 Oil Price Target to Boost Market Share
Saudi Arabia is willing to endure short-term oil price and revenue pain as it is making a U-turn in policy and going to take back market share and ditching its unofficial $100 oil price target, the Financial Times reported on Thursday, quoting sources with knowledge of the latest Saudi thinking.
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Saudi Arabia to establish 10 private colleges
The Council of Ministers on Tuesday approved the establishment of 10 private colleges in Saudi Arabia. Custodian of the Two Holy Mosques King Salman chaired the weekly session of the Cabinet in Riyadh.
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Saudi Arabia Eyes Satellite Partnership with Nigeria for TV Channel Expansion on NigComSat-1R
The Saudi Arabian Embassy in Nigeria has initiated discussions to host four television channels on Nigeria’s NigComSat-1R satellite. This development follows a visit by Saudi Arabia’s Head of Media, Mohammed Alsahabi, to the NigComSat offices on Friday. During the visit, Alsahabi engaged in talks with NigComSat officials, focusing on the potential for collaboration in satellite broadcasting. Abiodun Attah, NigComSat’s Executive Director of Technical Services, received the Saudi delegation, emphasizing the importance of the discussions.
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