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Saudi Arabia’s non-oil business activity grows robustly in March, PMI shows
- April 3,2024
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- SUSTG Team
Strong demand helped drive non-oil business activity in Saudi Arabia in March, Reuters reports, with output accelerating to a six-month high.
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Saudi Aramco to Expand Huge Gas Plant as Global Demand Surges and Market Dynamics Shift
- April 2,2024
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- SUSTG Team
Saudi Aramco is moving ahead with plans to expand the Fadhili gas processing facility in the kingdom’s Eastern Province as part of its strategy to tap vast and under-developed gas resources within Saudi Arabia, according to a report in Bloomberg.
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Dolce & Gabbana Launches Flagship Saudi Store at Via Riyadh after Approaching KSA Market with ‘Caution and Respect’
- April 1,2024
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- SUSTG Team
Fashion icon Dolce & Gabbana unveiled a unique strategy for Saudi Arabia, opening up a flagship new store in Via Riyadh after approaching the market with “caution and respect,” Vogue Middle East reported.
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KSRelief Spearheads Saudi aid to Gaza and the Globe
- March 29,2024
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- SUSTG Team
King Salman Humanitarian Aid and Relief Centre (KSRelief) provides humanitarian aid and relief to people outside of Saudi Arabia’s borders. KSRelief was established by King Salman bin Abdulaziz in 2015 and works in 46 countries, with a focus on the Middle East and North Africa region.
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PIF Increases Investment in Lucid
- March 27,2024
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- SUSTG Team
Ayar Third Investment Company, a PIF affiliate, will buy $1 billion in convertible preferred stock and will be able to convert the preferred stock into about 280 million shares, according to a regulatory filing with the U.S. securities regulator.
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Saudi Arabia to join Miss Universe for the first time
- March 26,2024
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- SUSTG Team
27-year-old model, influencer, and beauty pageant veteran Rumy AlQahtani announced on Instagram that she will be representing Saudi Arabia in 72nd Miss Universe contest in Mexico later this year.
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Saudi Film Commission Reports Impressive 2023 Growth Statistics
- March 22,2024
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- SUSTG Team
Published in Screen Daily, the Saudi Film Commission reported on topline 2023 metrics for Saudi Arabia’s growing film industry. With more than 50% of the Saudi population under 25, there is a significant appetite for cinema, particularly for US action films, Egyptian comedies, and Saudi narratives.
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FIFA Series 2024 Friendly Matches Kick Off in Jeddah
- March 21,2024
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- SUSTG Team
The FIFA Series: Saudi Arabia A will be held in Jeddah, Saudi Arabia from March 21–26, 2024. The event will feature two groups, including Cambodia, Equatorial Guinea, Guyana, and Cape Verde. The series is designed to help national teams that do not often play teams from other confederations, and FIFA will cover the teams’ travel costs. There will be […]
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NYT Reports on Proposed $40B Saudi AI Investment
- March 20,2024
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- SUSTG Team
The New York Times’ Maureen Farrell and Rob Copeland report that Saudi Arabia is working with Wall Street banks to establish a $40 billion AI-focused investment fund.
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U. S. Secretary of State Antony Blinken to Visit Middle East this week Seeking Ceasefire Agreement
- March 19,2024
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- SUSTG Team
U.S. State Department spokesman Matthew Miller said, “The Secretary will discuss efforts to reach an immediate ceasefire agreement that secures the release of all remaining hostages, intensified international efforts to increase humanitarian assistance to Gaza, and coordination on post-conflict planning for Gaza, including ensuring Hamas can no longer govern or repeat the attacks of October 7.”
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MUST-READS
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Designating Iran Sanctions Evaders – United States Department of State
The United States is committed to significantly reducing Iranian energy exports and will sanction those facilitating Iran’s petroleum and petrochemical trade. Today, the Department of the State is designating six entities that have engaged in the transport or sale of Iranian petroleum products or petrochemical products, pursuant to Executive Order (E.O.) 13846, and is identifying 20 vessels as property or interests in property of these entities. Specifically, the Department is designating Vietnam-based company Golden Lotus Oil Gas and Real Estate Joint Stock Company, pursuant to Section 3(a)(ii) of E.O. 13846, for knowingly engaging in a significant transaction for the transport of petroleum products from Iran.
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Saudi Arabia to establish 15 new plants for medicines, aircraft parts, and metal forming
Speaking as part of a dialogue session at the third edition of the International Engineering Conference and Exhibition, Osama Al-Zamil said three of the new plants will be advanced factories for vital medicines and medical vaccines, four for assembling aircraft components, and eight for metal forming. The announcement comes as the national strategy for industry is seeking to boost the number of factories in the Kingdom to 36,000 factories by 2035, the deputy minister said.
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A Lab Leak in China Most Likely Origin of Covid Pandemic, Energy Department Says
The U.S. Energy Department has concluded that the Covid pandemic most likely arose from a laboratory leak, according to a classified intelligence report recently provided to the White House and key members of Congress. The shift by the Energy Department, which previously was undecided on how the virus emerged, is noted in an update to a 2021 document by Director of National Intelligence Avril Haines’s office.
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How the Turkey earthquake tore a 300-kilometre rupture in the Earth’s surface
“These were very large and powerful earthquakes that ruptured all the way up to the surface over a long series of fault segments,” Eric Fielding, a geophysicist at NASA’s Jet Propulsion Laboratory, said in a statement on the agency’s Earth Observatory website. “This generated extremely strong shaking over a very large area that hit many cities and towns full of people,” he said. “The rupture length and magnitude of the magnitude 7.8 earthquake was similar to the 1906 earthquake that destroyed San Francisco.”
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How China Became Saudi Arabia’s Largest Trading Partner
Back in 2001, Saudi Arabia’s trade with China was a mere fraction—just one-tenth—of its combined trade with the EU and United States. While the total value of trade was modest at this time, it’s been increasing consistently almost every year since. By the year 2011, China had surpassed the U.S. for the first time in bilateral trade value with Saudi Arabia. Then by 2018, trade between China and Saudi Arabia surpassed the Middle-Eastern country’s trade with the entire EU.
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Earthquake fans anti-Syrian sentiment in Turkey amid desperate conditions
The devastating earthquake to hit Turkey and Syria has fanned resentment among some Turks towards the millions of Syrian refugees in the country who are being blamed anecdotally by some for looting amid the destruction and chaos. Several Turks in quake-hit towns and cities have accused Syrians of robbing damaged shops and homes. Anti-Syrian slogans such as "We don't want Syrians," "Immigrants should be deported," and "No longer welcome" trended on Twitter.
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Turkey earthquake: How building negligence led to catastrophic outcomes
In fact, after an investigation into the 1999 earthquake in Turkey, it was found that buildings in the city did not meet design requirements and were not earthquake resistant as required by the regulations. Several reports also mentioned that the country used poor construction material and were “shoddily constructed.” Multiple studies, including one from 2020 reiterated the caution, stating that multiple districts are vulnerable to earthquakes of more than 7.4 magnitudes.
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Plight of homeless deepens as Turkey-Syria earthquake toll passes 17,000
The plight of hundreds of thousands of people left homeless by earthquakes in Turkey and Syria grew more desperate on Thursday, while hopes faded of many more people being found alive amid the ruins of cities. The death toll from Monday's quakes, which struck in the early morning, passed 17,000 on Thursday across both countries. It was the biggest natural disaster to strike the region since 1999, when a similarly powerful quake killed more than 17,000 people in Turkey.
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Saudi Arabia FDI inflows up 10.7% in third quarter 2022 -investment ministry
Foreign direct investment (FDI) inflows into Saudi Arabia rose 10.7% in the third quarter of 2022 over the same period a year earlier, figures from the investment ministry showed. FDI inflows totalled 7.2 billion riyals ($1.9 billion) in the third quarter of 2022, according to the investment ministry's latest monthly bulletin published on Monday, versus 6.5 billion riyals in the third quarter of 2021.
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Mountaintops, flower men and folk art: Inside Saudi’s Aseer province
Saudi’s lesser-known Aseer region is a haven of hiking trails and hipster cafes. Book a hotel and a guide and explore Saudi’s tallest peaks - of which there are plenty. At around 3000 metres, Al Soudah is Saudi’s highest mountain, thriving with luscious greenery. The rewards for treading its winding paths are epic panoramas at every turn.
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