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Starting (or Investing In) an Online Business in MENA: Lessons Learned for Founders and Investors
- March 31,2015
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- Khaldoon Tabaza
In the rush to create the next big success in the online industry in MENA, it is useful to pause and ponder key lessons our nascent community can benefit from based on the successes (and failures) of founders and investors in developed markets, such as the US, and other emerging markets more advanced than ours, […]
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#FocusKSA: 3 Experts Discuss Saudi Intervention in Yemen
- March 30,2015
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- SUSTG Team
Saudi Arabia’s airstrikes against Houthi rebel positions in Yemen as part of Operation “Determination Storm” or “Decisive Storm” is the subject of the latest SUSTG and SUSRIS FocusKSA series of online video discussions. SUSRIS’ Patrick Ryan interviewed three experts for their analysis on the conflict: Dr. Theodore Karasik, Gulf-based regional specialist Prof. David Des Roches, […]
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At Sharm El-Sheikh, Arab Leaders Agree on Joint Military Force to Address Shared Regional Challenges
- March 30,2015
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- SUSTG Team
Arab leaders have agreed in principle to “form a joint military force to address growing Arab challenges and threats” in a resolution following a 2-day summit of representative countries in Egypt, a move that bolsters cooperative efforts to stem the growth of extremism and instability in the Middle East. Leaders from Saudi Arabia, Egypt, Qatar, […]
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Video: Saudi Ambassador to the United States Adel Al Jubeir Gives Interview to CNN’s Wolf Blitzer
- March 27,2015
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- SUSTG Team
Saudi Arabia’s Ambassador to the United States Adel al-Jubeir gave an interview to CNN’s Wolf Blitzer yesterday to talk Iran, Yemen, and even the plot by an Iranian agent to kill him at an upscale Washington, D.C. restaurant in 2011. The eloquent and soft-spoken al-Jubeir, who has served as Saudi ambassador to the United States since […]
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For Saudi’s Troubled Housing Market, New Tax on Vacant Plots Could Spur Development, Lower Prices
- March 25,2015
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- SUSTG Team
In a big step for providing affordable housing to Saudi citizens, the Government has decided to impose a tax on the owners of vacant plots of land within city borders. The tax will incentivize development on these idle plots of real estate, either by the landowner or by encouraging the sale of the plots to those […]
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Fears of an ‘All Out War’ Grow in Neighboring Yemen as Rival Factions Look to Iran and Saudi Arabia for Help
- March 24,2015
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- SUSTG Team
Tensions are escalating in Yemen as Iranian-backed Houthi militias and forces loyal to ousted President Abd-Rabbu Mansour Hadi, backed by Saudi Arabia, are “squaring off for battle after months of skirmishes,” Reuters reports. “With President Abd-Rabbu Mansour Hadi seeking a comeback from the port city of Aden while the Shi’ite Houthi movement controls the capital Sanaa, […]
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Saudi MOH Says MERS Infections, Death Rates Slowing Down
- March 23,2015
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- SUSTG Team
The rate of new Middle East Respiratory Syndrome Coronavirus (MERS-CoV) infections and deaths have slowed down, the Ministry of Health announced on its website, as only two deaths and two new infections were reported during the past week, and six patients fully recovered from the virus and were discharged from hospitals, the Saudi Gazette reported. Saudi […]
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Video: Kentucky Senator and GOP Candidate for President in 2016 Rand Paul Says United States ‘Should Be Boycotting Saudi Arabia’
- March 23,2015
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- SUSTG Team
Kentucky Senator and future GOP candidate for President in 2016 Rand Paul says the United States “should be boycotting Saudi Arabia” in a speech to donors that was posted on YouTube. “Remember when South Africa was misbehaving? We organized a boycott of South Africa. We should be boycotting Saudi Arabia and not taking money from […]
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Saudi Arabia’s ‘New Desert Megacity’ KAEC 15% Complete
- March 20,2015
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- SUSTG Team
The BBC’s Sylvia Smith checks in on development at the King Abdullah Economic City north of Jeddah, one of four “megacity” projects envisioned by King Abdullah to be developed in the coming years. At a cost of $100bn, Saudi Arabia’s King Abdullah Economic City (KAEC) is currently only 15% completed. “Peppered with cranes, the city […]
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Is Saudi Arabia Moving Towards a Future Without Expatriate Workers?
- March 18,2015
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- SUSTG Team
Today in the Dubai-based newspaper The National, Gulf expert Theodore Karasik writes that Saudi Arabia is moving to provide more jobs for Saudis, and that under new King Salman, change is in the works for its troubled labor sector. The goal to stop relying on expatriate workers and to transition to a nearly all-Saudi workforce is […]
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MUST-READS
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What Does Neom’s Downsize Means for Saudi Arabia’s Vision 2030?
When launching The Line in 2021, the Saudi government had announced that 1.5 million people would be living in the city by 2030. Officials now expect there to be fewer that 300,000 residents by that time, according to a source cited by Bloomberg.The source said that officials expected only 2.4km of the 170km city to be completed by 2030. As a result of the scaling back, one contractor dismissed some of the workers it employs on site, according to a document seen by Bloomberg.
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Saudi Arabia says no recognition of Israel without two-state solution
In the interview on Monday, Princess Reema Bint Bandar Al-Saud added that, “Riyadh will not sign any agreement without tangible commitments that serve the Palestinian cause.” She stressed that the two-state solution must be final, clear, and within a specific time frame. “Establishing relations with Israel is still within reach, but it requires a commitment to the establishment of an independent Palestinian state.”
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Saudi Arabia echoes India’s stand on Kashmir in joint statement with Pak
A joint statement issued by Saudi Arabia and Pakistan stressed the importance of dialogue between Pakistan and India to resolve the outstanding issues between the two countries, especially the Jammu and Kashmir dispute.
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Saudi Arabia lowers predicted number of residents at The Line by 2030
The scaling-back of the project is because Saudi Arabia's sovereign wealth fund hasn't yet approved Neom's 2024 budget, the source said. Bloomberg has previously reported that the wealth fund is trying to find new cash sources to help finance the project. The Line, which was originally announced in 2021, would link the Red Sea coast with the northwest of Saudi Arabia and is the most well-known of the Neom projects, which will cover 26,500 square kilometres in northwestern Saudi Arabia in total.
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Saudi Arabia’s economic diversification: Driving growth beyond oil
“The PMI for Saudi Arabia showcased a notable upswing as the non-oil economy exhibited expansion in the most recent period,” Naif Al-Ghaith, chief economist at Riyad Bank, said in a statement. “Business activity experienced a substantial uptick, marking the most significant growth in six months. The positive momentum also prompted accelerated purchasing activities and additional hiring, underscoring a buoyant market outlook.”
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Saudi Arabia says no new moon sighted, declares Wednesday as Eid-el-Fitr
Authorities in the Kingdom of Saudi Arabia on Monday said no moon crescent marking the beginning of Shawwal and the end of Ramadan has been sighted. With this development, the Ramadan fasting will be 30 days while the Eid-el-Fitr will be celebrated on Wednesday in the Kingdom. “The crescent moon was NOT sighted in Saudi Arabia. Therefore, Eid Al Fitr will be celebrated on Wednesday, 10th April 2024,” Haramain, a Saudi-based online resource outfit, wrote on X.
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Etihad Expands To 76 Destinations With Airbus A320s To Saudi Arabia’s Al Qassim
https://simpleflying.com/etihad-76-destinations-airbus-a320s-saudi-arabia-al-qassim/
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Saudi Arabia, Pakistan accelerate implementation of $5 billion investment package
This was announced in a joint statement following a meeting between Crown Prince and Prime Minister of Saudi Arabia Mohammed bin Salman and Pakistani Prime Minister Muhammad Shehbaz Sharif at Al-Safa Palace in Makkah on Sunday. This move is a significant step toward bolstering economic ties and is indicative of the strong relationship between the two countries.
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The $22B Railway Opening Saudi Arabia’s Doors to the World: Video
Saudi Arabia is racing to finish the $22B Riyadh Metro in time to modernize its capital city and open its doors to the world. With the country set to host the World Expo 2030 and as a frontrunner to host the 2034 FIFA World Cup, this is a golden opportunity for Saudi Arabia to transform its economy and improve its human rights reputation on a global stage.
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Saudi Arabia’s private equity investments reach $4B in 2023
Saudi Arabia witnessed an increasing interest in private equity investments from 2019 to 2023, MAGNITT said in a recent report. The Kingdom's private equity investments reached a peak of nearly $4 billion in 2023, recording growth for three consecutive years since 2020.
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