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Shares of oil and gas driller ADES Holding Climbed Almost 30% above its listing price on its market debut in Riyadh
- October 11,2023
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- SUSTG Team
Shares of oil and gas driller ADES Holding climbed almost 30% above its listing price on its market debut in Riyadh on Wednesday after raising $1.22 billion in an initial public offering last month, according to Reuters.
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Regional HQ Executives to get Premium Residency Under New Government Scheme to Boost Investment
- October 10,2023
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- SUSTG Team
Saudi Arabia’s Ministry of Investment has developed a mechanism to grant premium residency to executives who base their company’s regional headquarters in the Kingdom, according to reports, in a bid to boost the business environment in the Kingdom and attract more foreign investment.
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First Hydrogen Train in Middle East to Begin Trials Next Week, Saudi Energy Minister Says
- October 9,2023
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- SUSTG Team
Saudi Arabia’s Minister for Energy Prince Abdulaziz bin Salman said on Sunday that the first hydrogen train in the Middle East will begin trials next week, according to a report in Reuters.
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The Growing Size and Role of the Public Investment Fund (PIF) in Saudi Arabia with Robert Mogielnicki, FII 2023, Saudi World Cup and more…
- October 6,2023
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- SUSTG Team
Dr. Robert Mogielnicki, Senior Resident Scholar at The Arab Gulf States Institute in Washington and professorial lecturer at George Washington University joins The 966 to discuss the growing size and role of the Kingdom’s sovereign wealth fund, the Public Investment Fund (PIF). Robert has previously characterized the PIF as, “screaming onto the scene” with an […]
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Israeli Minister Speaks Publicly for the First Time in Saudi Arabia’s Capital Riyadh – Report
- October 5,2023
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- SUSTG Team
An Israeli minister spoke publicly for the first time in Saudi Arabia’s capital Riyadh about “blossoming ties” between the two countries, the latest sign the duo are inching toward normalizing relations – and even thanked the two leaders, mentioning first the Kingdom of Saudi Arabia.
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Saudi Arabia’s Tourism Effort Paying Off as Sector Sees 58% Growth in 2023 — Report
- October 4,2023
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- SUSTG Team
Saudi Arabia has been ranked second globally in terms of tourist arrivals during the first seven months of 2023, the Saudi Press Agency reported on Tuesday.
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PIF Announces Establishment of Al Balad Development Company (BDC) to become the main developer of Jeddah’s historic Al Balad District
- October 3,2023
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- SUSTG Team
The Public Investment Fund (PIF) announced the establishment of the Al Balad Development Company (BDC), which will become the main developer of Jeddah’s historic Al Balad district, “in line with the continuous efforts led by His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz to revitalize Historic Jeddah to transform Jeddah into an economic hub, […]
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Discussing the Venture Capital ecosystem in Saudi Arabia and the MENA with investor Amjad Ahmad and much more…
- October 2,2023
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- SUSTG Team
In episode 105 of The 966, Amjad Ahmad, a leading venture capitalist and seasoned investment professional with extensive experience in VC and private equity in emerging markets, joins to discuss the VC ecosystem in Saudi Arabia, the MENA region, and globally today. In addition to over two decades of experience investing in the region, Amjad […]
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Saudi Aramco expands into LNG by buying stake worth $500m in MidOcean Energy
- September 29,2023
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- SUSTG Team
Saudi Aramco, the world’s largest oil-exporting company, has signed a $500 million agreement to buy a minority stake in liquefied natural gas (LNG) company MidOcean Energy. This is Aramco’s first investment in LNG and is part of the company’s efforts to diversify its activity beyond its core oil business. The strategic partnership enables Aramco to tap into […]
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Lucid Opens First-Ever Auto Plant in Saudi Arabia
- September 27,2023
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- SUSTG Team
Lucid has opened the first ever car manufacturing plant in Saudi Arabia at the King Abdullah Economic City as the kingdom looks to establish itself as a global player in the EV race.
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MUST-READS
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Saudi mission on SpaceX capsule to include first female Arab astronaut
Axiom Space says the unidentified woman will be accompanied by another Saudi and two Americans as part of US company's second private mission to the space station.
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Saudi Arabia Buys Two Tickets to ISS Aboard SpaceX Falcon 9
Saudi Arabia has reportedly signed a deal with private space company Axiom Space to fly two of its astronauts to the International Space Station as part of the second privately funded trip to the orbital lab. The two Saudi astronauts will fly aboard a SpaceX Falcon 9 rocket, becoming the first Gulf country to ride on board a private spacecraft, sources told Reuters. The sources added that the deal between Saudi Arabia and Axiom was signed privately earlier this year.
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Saudi Arabia buys pair of SpaceX astronaut seats from Axiom
Saudi Arabia is planning to launch two astronauts to the International Space Station aboard a space capsule from Elon Musk’s SpaceX, becoming the latest Gulf nation to strengthen ties with private U.S. space companies, according to three people familiar with the arrangement. The sources, speaking anonymously to discuss the mission’s crew before its formal announcement, said the deal was signed privately earlier this year with Houston’s Axiom Space, which arranges and manages private missions to space on U.S. spacecraft for researchers and tourists.
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Saudi Arabia to emerge as a ‘major player’ in regional aviation space, Boeing says
The kingdom's Saudi Aviation Strategy calls for tripling annual passenger traffic to 330 million by 2030, boosting the number of destinations to 250 from 99 at present and establishing a new flag carrier. This strategy is backed by $100 billion in investments from the government and private sector.
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Space clubs in Saudi Arabia help to spark interest in the sector
It has been 37 years since Saudi Arabia sent its first and only astronaut into space, but many Saudis remain passionate about space exploration. Among them is author Mohammad Bahareth, founder of Space Club, a platform formed for enthusiasts across the Arab world to talk about all things outer space.
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Spanish League Moves to Expand in Middle East, North Africa
The league wants to significantly increase the presence of its clubs and Spanish soccer in this “strategic part of the world.” The goal is to target younger audiences in an area with 1.3 billion people under the age of 30.
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High-tech Spanish-made corvette vessel arrives in Saudi Arabia
The King Faisal Naval Base in the city of Jeddah on the Red Sea coast, witnessed the arrival of the ship “ Al Jubail Avante 2200-class corvette” , coming from the manufacturing headquarters in Spain. The Saudi Naval Forces held an official reception for HMS Al-Jubail, the first ship to enter service as part of the “Sarawat Project”, which includes the construction of five naval vessels with advanced capabilities to conduct various combat missions with high efficiency.
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Qatar, Spain move to leverage ties to solve other challenges
Earlier this year, the Spanish royal family hosted a lavish dinner for the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, and his wife, at the palace in Madrid. At dinner on the May 17 event, the Emir announced the Qatari sovereign wealth fund’s plans to inject 5B USD into the Spanish economy. The news came at a time of burgeoning relations between the two countries, as both sides see how their ties can assist with their respective challenges.
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First Israeli plane flies through Saudi airspace
An Israeli commercial flight flew over Saudi Arabia to a non-Gulf destination for the first time on Tuesday, according to Israeli media. The Arkia Israeli Airlines flight IZ611 departed Tel Aviv’s Ben Gurion airport at around 1:15 am on Tuesday to the Seychelles, an island nation off the coast of East Africa.
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Saudi’s energy city SPARK announces deal to build $10mln factory
Through the deal, which represents a SAR40 million ($10.6 million) investment in SPARK, MASO&G will set up a factory to produce corrosion protection tapes made of polyisobutylene (PIB) and establish an oil tools equipment manufacturing and service centre.
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