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Uber Eyes Fast-Growing MENA Markets for $250m Expansion
- November 5,2015
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- SUSTG Team
Uber Technologies Inc. is investing $250 million to expand in the Middle East and North Africa, which have some of the ride-sharing service’s fastest-growing markets, Bloomberg reports. Uber is already in Saudi Arabia, and the ride-sharing app is having a significant impact on the transportation economy there. And Uber is also making a social impact. Since […]
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Long Saudi Arabia’s Third Rail, Energy Subsidies May be Targeted to Address Fiscal Challenges
- November 4,2015
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- Lucien Zeigler
With shrinking assets and a growing budget imbalance, Saudi Arabia is reportedly eying cuts to its domestic energy subsidy program, long a third rail for Saudi domestic politics. Although a reduction in energy subsidies could help the government balance its budget, the subsidies may be challenging politically. “On paper, ditching subsidies would close around two-thirds of […]
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Al-Jubeir: Yemen’s War in the ‘Final Stage’; But Victory May Still Prove Elusive
- November 3,2015
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- SUSTG Team
Saudi Arabia’s Foreign Minister Adel Al-Jubeir said that the Saudi-led coalition battling the Houthi rebels in Yemen is entering its final stages. “I am confident that the Yemeni conflict has entered its final stage, and I’m optimistic,” Al-Jubeir said. “There are indications that the war in Yemen is entering a final phase. The legitimate government […]
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Consumers in Saudi Arabia Unaffected by Slump in Oil Price, Government Fiscal Policy Shifts
- November 2,2015
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- SUSTG Team
Consumers in Saudi Arabia are thus far reportedly feeling few effects of the fall in oil prices on the broader Saudi economy, Bloomberg reports, though the government is taking measures to curb spending and adjust its fiscal policy to new realities. “It’s Saudi policy in action,” writes Bloomberg. “When the revenue slows down, as it’s doing […]
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Why US Shale Oil Is At an Inflection Point
- October 30,2015
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- SUSTG Team
A recent Jadwa Investment report found that there will not be a collapse in shale oil production as a period of sector consolidation, through global integrated oil companies and private equity, ensures that shale oil remains a key player in the global oil market going forward. The report, which follows up on a comprehensive analysis published by […]
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Ahead of Critical Syrian Peace Summit, Saudi Arabia Looks to ‘Test’ Iran on Commitment to Peace
- October 29,2015
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- SUSTG Team
Vienna, Austria will play host to a crucial meeting on Friday on the future of Syria and international efforts to end the bloody 4-year civil war that has left hundreds of thousands dead and has served as a breeding ground for Daesh, or the self-described ISIS. For the first time, all the main powers with […]
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Surge in Use of Stimulant Fuels Concern in Saudi Arabia
- October 28,2015
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- SUSTG Team
The recent arrest of a member of Saudi Arabia’s royal family for attempting to import 2 tons of an illegal drug has dragged Saudi Arabia’s underground drug culture into the spotlight. Use of fenethylline, more commonly known by its commercial name Captagon, is on the rise in Saudi Arabia and especially among the youth. The drug […]
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Bomb Rips Through Shia Mosque in Najran City, Saudi Arabia, Killing One; Daesh Claims Responsibility, Suspect Named
- October 27,2015
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- SUSTG Team
A bomb ripped through a Shia mosque in Najran City in Saudi Arabia yesterday, killing one and injuring at least 16 people in the latest in a spate of murderous attacks across Saudi Arabia in the last year. Daesh has claimed responsibility for the suicide bombing at the al-Mashhad mosque. Saudi Authorities have named a suspect. […]
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In Riyadh, Secretary of State John Kerry Meets with King Salman, Top Saudi Officials to Discuss Syria Coordination
- October 26,2015
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- SUSTG Team
Secretary of State John Kerry visited HRH King Salman and top Saudi officials in Riyadh over the weekend to discuss coordination in Syria, according to reports. Reuters reports that the United States and Saudi Arabia agreed to increase support to Syria’s moderate opposition while seeking a political resolution of the four-year conflict, the U.S. State […]
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This is Damascus Now: Incredible Drone Footage Reveals Extent of Devastation in Damascus from Syria’s Bloody Civil War
- October 23,2015
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- SUSTG Team
Incredible aerial footage of Syria’s capital, Damascus, has emerged showing widespread devastation to a once vibrant city. The Associated Press reports that the original video was shot by RTR war correspondent Yevgeny Poddubny on October 18, noting, “thousands of Syrian army airstrikes and barrel bombs dropped from army helicopters throughout the country’s civil war have reduced […]
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MUST-READS
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4,000-year-old fortified town found in Saudi Arabian oasis
The remains of the town, dubbed al-Natah, were long concealed by the walled oasis of Khaybar, a green and fertile speck surrounded by desert in the northwest of the Arabian Peninsula. Then an ancient 14.5 kilometre-long wall was discovered at the site, according to research led by French archaeologist Guillaume Charloux published earlier this year. The large town, which was home to up to 500 residents, was built around 2,400 B.C. during the early Bronze Age, the researchers said. It was abandoned around a thousand years later. "No one knows why," Charloux said.
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Saudi Arabia’s labour law amendments: What they mean for employers and employees
Set to take effect on February 18, 2025, these changes align with the kingdom’s Vision 2030 goals, aiming for a balanced labour market that encourages fair treatment, Saudisation and improved work conditions. The new amendments also expand leave entitlements, granting 12 weeks of maternity leave (six of which are mandatory post-birth), three days of paternity leave, and an additional three days of bereavement leave for the death of a sibling. These changes reflect a progressive shift towards global labour standards, focusing on work-life balance and family support.
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Deputy Secretary Campbell’s Meeting with Saudi NSA al-Aiban and Minister al-Swaha
Deputy Secretary of State Kurt M. Campbell met today with Saudi Arabia’s National Security Advisor Musaid al-Aiban and Saudi Minister of Communications and Information Technology Abdullah al-Swaha. They discussed a range of efforts to expand U.S.-Saudi cooperation in artificial intelligence (AI) and other areas of science and technology. Deputy Secretary Campbell affirmed the United States’ commitment to partnering with Saudi Arabia to build advanced tech ecosystems and unlock the potential of safe, secure, and trustworthy and responsible AI. They also discussed continued efforts to de-escalate tensions and work toward lasting peace and security in the region.
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PIF partners with Google Cloud to create AI hub in Saudi Arabia
The partnership will provide AI training for millions of Saudi students and professionals, supporting the national objective of expanding the information and communication technology sector by 50 percent. Through Google Cloud’s technology, industries will have enhanced access to AI applications, enabling growth and capacity building. The agreement, subject to regulatory approvals, also includes joint research on Arabic language models and Saudi-specific AI applications.
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Can Saudi Arabia build a thriving fintech hub by 2030?
Let’s say an international fintech is looking to come to Saudi Arabia. First, Fintech Saudi will have a consultation with the company to understand its business model and determine if it needs to be regulated by the major financial bodies. If so, it brings in subject matter experts, law firms as well as other companies in the industry to give the relevant guidance, while involving the main regulators throughout the entire process. Next, Fintech Saudi will connect the company with the Ministry of Investment, which can provide support with setting up an entity in Saudi Arabia.8 Finally, Fintech Saudi can give the company links to private service providers in the country–such as office space or software businesses–that can help it get up and running quickly.
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Archaeologists discover 4,000-year-old Bronze Age settlement hidden in Saudi Arabian oasis
Archaeologists discovered the site near the city of Al-'Ula in the Hejaz region of western Saudi Arabia and called it "al-Natah." The settlement covered about 3.7 acres (1.5 hectares), "including a central district and nearby residential district surrounded by protective ramparts," the researchers said in a statement. But the town, which was occupied starting around 2400 B.C., was small, with a population of only around 500 people, the team noted in a study, published Wednesday (Oct. 30) in the journal PLOS One. The town was abandoned sometime between 1500 and 1300 B.C., but researchers aren't sure why this happened. "It's a pertinent question that I can't really answer at the moment," Charloux said, noting that "we have very few clues about the last phase of occupation."
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Golf Saudi CEO aims to break golf’s ‘elite’ image, making sport accessible to all
“There’s the expression of ‘you build it and they will come.’ Golf is one of those sports that once a person adopts it, it’s almost for life. So, we’re working [towards that],” Alireza said speaking from the Riyadh Golf Club. “Our strategy in Golf Saudi is to build both demand and supply. But in order for the demand to come, the focus over the next two years is building as much infrastructure as possible,” he explained. One way that Golf Saudi is working towards expanding interest for golf is working with entertainment facility TopGolf to build facilities across the Kingdom to draw in non-golfers who might eventually express bigger enthusiasm for the game.
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Saudi’s KAFD signs agreement for Monorail Project
The Monorail spans 3.6 kilometers and features a driverless autopilot operation, setting new standards in safety and efficiency. The sleek, elevated system will consist of six trains, traveling along a circular track with six stations strategically placed across the district to connect key areas, encompassing office buildings, retail spaces, and leisure facilities. The Monorail also offers seamless connectivity by integrating with the Riyadh Metro, making transfers smooth with enhanced accessibility throughout the city. Its design aligns with KAFD’s vision of a “10-Minute City”.
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“Saudi Arabia is among world’s fastest-growing economies”
He emphasized PIF's focus on investing in AI, leveraging the Kingdom's capabilities to establish itself as a global AI hub. He also presented PIF's investments in the sports sector. “We currently have $930 billion in assets under management and the share of foreign assets is 30 percent. The PIF has established many bold investment partnerships with major companies, and there is a qualitative shift in employing its investments. “We are focusing on the local economy as we have established 92 new companies since 2015, and we have achieved major achievements since then.”
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Saudi cabinet anticipates two-state solution talks, calls for Gaza ceasefire
The Saudi cabinet expressed optimism that Wednesday’s high-level meeting of the Global Alliance for the Implementation of the Two-State Solution in Riyadh will establish a timeline for a sovereign Palestinian state and advance efforts to end the occupation. Reiterating its position from the recent BRICS Plus 2024 Summit, the cabinet firmly opposed any escalation of conflict in the region. It highlighted the serious threat that ongoing Israeli actions in Gaza pose to both regional and global security, calling for an immediate ceasefire, unobstructed humanitarian assistance, and a renewed commitment to achieving lasting peace.
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