SUSTG.com / Research

Discover stories, topics, and more about Saudi Arebia faster.

Recent stories from sustg

MUST-READS

  • Saudi Arabia set to be biggest gainer from artificial intelligence in Middle East by 2030: PwC 

    A report from the company noted that AI could add $320 billion to the region’s economy, equivalent to 11 percent of gross domestic product. Amid the government’s massive push for digitization and future technology, Saudi Arabia will see AI’s contribution to GDP rise to 12.4 percent in 2030. In terms of average annual growth in the contribution of AI by region, Saudi Arabia is expected to slice off a 31.3 percent share in the technology’s expansion between 2018 to 2030, the PwC report noted.

  • Emirates signs new soccer partnership in Saudi Arabia

    Emirates has announced its contract as the main sponsor and official airline of the King Salman Club Cup in 2023, aligning with the Kingdom’s Vision 2030. The tournament deal, starting on 27 July, provides Emirates with in-stadium brand visibility as well as on-site advertising during the King Salman Cup – the UAFA region’s premier club championship.

  • Emirates signs new soccer partnership in Saudi Arabia

    The tournament deal, starting on 27 July, provides Emirates with in-stadium brand visibility as well as on-site advertising during the King Salman Cup – the UAFA region’s premier club championship. Jabr Al-Azeeby, vice-president of Emirates airline for Saudi Arabia remarked on the new partnership: “Emirates is one of the biggest names in sports and is heavily involved in the sport of soccer, helping fans get closer to the action and engaging in ways that go far beyond logo recognition.

  • Saudi Arabia’s Almarai starts sale of dollar sukuk – IFR

    Saudi Arabian food and beverage company Almarai (2280.SE) is set to raise $750 million from a sale of 10-year Islamic bonds that drew over $4 billion in orders, fixed income news service IFR said on Tuesday. The sukuk launched at 145 basis points over U.S. Treasuries, IFR said, tightened from initial price guidance of around 180 bps over the same benchmark, a bank document showed earlier on Tuesday.

  • Saudi Arabia announces start of new Umrah season for GCC citizens and residents

    Saudi Arabia’s Ministry of Hajj and Umrah announced on Tuesday the start of the new Umrah season for citizens and residents of Gulf Cooperation Council countries including the Kingdom. Citizens and residents of GCC countries are now able to apply for an Umrah permit via the Nusuk or Tawakkalna applications after the successful end of this year’s Hajj season. The Nusuk application can be used to obtain the necessary permits to perform Umrah and visit the Holy Rawdah in the Prophet’s Mosque in Madinah, while Tawakkalna ensures that the applicant meets the necessary health requirements.

  • Saudi Arabia’s Oil Production Cuts Are Quietly Starting to Bite

    “To me, it looks like the start of the hot summer in the crude market,” said Jorge Leon, senior vice president of oil market research at Rystad Energy. “It is the tipping point the market was expecting. Fundamentals are finally starting to drive the market.”

  • Saudi Arabia Smart Cities Market is poised to reach USD 14,745.2 Million, growing at a 19.6% CAGR by 2027

    As per the report, the Saudi Arabia smart cities market size was pegged at $3.55 billion in 2019, and is projected to reach $14.74 billion by 2027, growing at a CAGR of 19.6% from 2020 to 2027. Rise in efforts to minimize oil dependency, proactive smart city initiatives, and surge in investments by government have boosted the growth of the Saudi Arabia smart cities industry. However, data security & private concerns with smart cities hinder the market growth. On the contrary, the environmental friendliness of smart cities and technological advancements in IoT and cloud technologies are expected to open lucrative opportunities for the market players in the future.

  • Chart: Saudi Arabia’s European Soccer Shopping Spree

    Saudi Arabian clubs' European shopping spree has not been limited to players, either. Following on from former Spurs manager Nuno Espírito Santo's move to Al-Ittihad last year, Liverpool legend Steven Gerrard joined Al-Ettifaq as head coach this week.

  • Saudi Arabia Imposes New Economic Participation Policy

    The EP policy, which was released with little warning and without public consultation, applies to government contracts in which the value of imported goods and services exceeds SAR 100 million (~$27 million). To be eligible to bid on such contracts, companies must demonstrate that their level of local “economic participation” will equal at least 35 percent of the value of imported content.

  • Chelsea confirm Edouard Mendy departure as he seals to move to Saudi Arabian side Al Ahli

    His former Chelsea teammates Kalidou Koulibaly and N'Golo Kante have also sealed moves to Saudi Arabia - Senegal teammate Koulibaly joining Al Hilal, while Kante is with Saudi Pro League champions Al Ittihad.