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Discussing Saudi Arabia’s Regional HQ program with Mansour El-Zahab and Zeynep Kösereisoğlu from Frontierview and much more…
- October 20,2023
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- SUSTG Team
In episode 108, Mansour El-Zahab and Zeynep Kösereisoğlu from Frontierview, a leading market intelligence and research company, join The 966 to discuss Saudi Arabia’s Regional HQ program (commonly referred to as the “RHQ” program) and dive into some of the legal and practical details ahead of the effective date of the program starting in 2024. The RHQ program is the […]
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Saudi Economy Predicted to Grow by 3.9% in 2024 as Inflation Stabilizes, OECD Says
- September 19,2023
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- SUSTG Team
The Organization for Economic Co-operation and Development said that the Kingdom’s gross domestic product (GDP) is expected to rise by 3.9 percent in 2024, according to a report in Arab News.
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MENA’s Renewable Energy Promise
- June 6,2024
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- SUSTG Team
Saudi Arabia and other GCC countries are in a position to become, “not just a major source of renewable energy, but also a central and indispensable player in the global energy transition, uniquely able to balance supply and demand for all types of energy, both hydrocarbons, and renewables.”
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EU announces five-year Schengen visas for Saudi, Omani and Bahraini citizens
- April 23,2024
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- SUSTG Team
The EU will now allow citizens from Saudi Arabia, Oman, and Bahrain to apply for five-year Schengen visas. This marks a significant step forward in strengthening people-to-people relations between the EU and the GCC.
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At Davos, Kingdom Pushes Diplomacy and PIF Talks 2024 Investment Strategy
- January 17,2024
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- SUSTG Team
Saudi Arabia’s strong presence at the World Economic Forum in Davos, Switzerland is emblematic of an increasingly confident Kingdom on the global stage, with top officials from both the government and Saudi Arabia’s Public Investment Fund on the ground to promote Saudi Arabia’s interests.
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Saudi Arabia’s 7th FII Sees only “10-20” Cancellations out of 6,000 as Major Summit in Riyadh Proceeds Ahead
- October 23,2023
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- SUSTG Team
Richard Attias, the CEO of the FII Institute, said that out of over 6,000 people planning to attend the Future Investment Initiative in Riyadh this week, organizers saw only 10-20 cancellations as a result of the war in Israel and Gaza, according to reports, as the major summit will continue ahead with the event as normal. […]
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US, Israel Deny Local Report That Saudis Freeze ‘Normalization’ Talks
- September 18,2023
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- SUSTG Team
Israeli and US officials on Monday denied a report in a Saudi-owned newspaper that Riyadh had frozen normalization talks with Israel because it refuses to make concessions to the Palestinians, Bloomberg reports.
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Saudi Professional League, 2023-24 Season by the Numbers
- June 5,2024
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- SUSTG Team
Saudi Arabia’s professional football league, the Roshn Saudi League, concluded it’s 2023-24 season with a number of records smashed and new benchmarks reached.
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Global Defense Spending Spikes in 2023
- April 22,2024
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- SUSTG Team
According to a study by Forecast International in 2023 global defense spending grew at its fastest pace in the last decade as governments respond to security crises unfolding around the world.
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U.S. Continues Campaign to Secure Critical Red Sea Trading Route with Terrorist Designation for Houthi Groups
- January 18,2024
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- SUSTG Team
The U.S. government on Wednesday returned the Yemen-based Houthi rebels to a list of terrorist groups as Washington seeks to halt attacks on international shipping in the Red Sea, according to a report in Reuters.
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MUST-READS
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HealthcareMENA, birthplace for a digital health revolution?
Healthcare proves both a critical and rapidly growing sector in the Middle East and North Africa, with demand far outpacing supply owing to the growing population and shifting disease demographics, the latter largely prompted by sedentary lifestyle habits resulting in the rising prevalence of obesity, diabetes and cardiovascular diseases. In 2011, approximately 27 million people in the region had diabetes according to the International Diabetes Federation. In barely four years, that number has already risen to 37 million, and IDF estimates nearly 68 million diabetes sufferers by 2035.
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Startups8 promising hardware startups from the MENA region
Hardware based startups, the building of physical products that change the way we live, continue to play a crucial role in shaping our world. Over the last few years a number of promising hardware startups have emerged from the MENA region led by a movement of enthusiastic builders and makers.
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MENA Energy ProjectsOil’s not quiet on the MENA front
However, the Arab Energy Investment Outlook report, published by multilateral development bank Arab Petroleum Investments Corporation (Apicorp) earlier this year, indicates that despite continuing regional turmoil as well as declining oil prices, energy capital investments over the next five years will total $658 billion for the Arab world, and as much as $755 billion in the Middle East and North Africa (MENA).
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Social EntrepreneurshipOpinion: Why social entrepreneurship is critical for MENA
The concept of social entrepreneurship has its own challenges in this part of the world. Developmental work is traditionally associated with the nonprofit mentality and in many cases is accused of sinister agendas and corruption. As such, it’s difficult for community stakeholders to accept the concept of profit-making companies that address social challenges.
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Islamic EconomyIslamic economy presents significant opportunity for MENA entrepreneurs
Saeed Farook had listed the seven pillars of the Islamic economy, namely: funding in accordance with Islamic principles, halal products, tourism, digital economy, Islamic designs and art, Islamic standards, and Islamic knowledge, stressing the fact that Islamic economy "represents the opportunity of a lifetime."
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MENA Startups8 Startups from the MENA Go Global
The last couple of years have witnessed a surge in the number of Arab startups that have managed to catch the attention of foreign investors and dip into the pockets of US sharks. Spanning Beirut to Dubai, Jeddah, Amman, and Cairo, among others, the Middle East region is making its presence felt on the global tech scene.
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MENA Startup InvestmentNew Wamda Research Lab report sheds light on MENA investment landscape and future opportunities
Entrepreneurs that have the ambition to grow their company often reference limited funding as a barrier to achieving their goals. Whether just starting out, launching a new product or expanding into a new country, access to capital is a critical resource that is not always easy to obtain. The investment ecosystem for startups in the Middle East and North Africa (MENA) is no exception, yet in recent years funding access in the region has improved.
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EntrepreneurshipWant to push the MENA forward? Work for an entrepreneur
As new programs in the region teach young people about the merits of starting a business, they also need to position working with a startup as a viable career choice. The two are symbiotic and the full potential of each track cannot be realized without the other. Moving forward, here are two recommendations to help shape efforts supporting entrepreneurship amongst youth:
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InvestmentWhy Foreign investment is elusive for MENA startups
But why can’t they raise funds while remaining in the Middle East? “In the hierarchy of Silicon Valley venture firms,” says Nasr, “the focus is generally on the Bay Area first, California second, and the rest of the US after that. Most US VCs don’t have a presence or much awareness outside North America. When you’re investing, one of the most important things is the market; so other than very big markets such as China, India or Brazil, there is not much interest or appetite.”
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MENA StartupsWhat do investors in the MENA want from startups?
While most of the funders surveyed currently have a presence in either Jordan, the UAE, or Lebanon, 83% plan to expand and increase their activity in the next two years, and most of them are seeking to become more involved in Saudi Arabia and the UAE. While challenges in obtaining investment differ from one market to the other, there are some similarities across the region. Thirty-six percent of entrepreneurs surveyed said that the supply of venture funding in their countries was small, and 24% thought that investors are not offering enough value beyond cash.
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