SUSTG.com / Research

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

Recent stories from sustg

MUST-READS

  • Saudi POS hits $3.6bn as education spending surges with academic year start

    Saudi Arabia’s point-of-sale transactions climbed to SR13.5 billion ($3.61 billion) between Aug. 11 and 17, reflecting a 3.6 percent increase from the previous week, official data showed. According to the latest figures from the Saudi Central Bank, also known as SAMA, the education sector led the charge, recording a 127.5 percent surge in spending, with total transactions reaching SR1.01 billion.

  • Peregrine falcon chick sells for record $106,601 at Saudi auction

    A peregrine falcon chick named Ultra White has been sold for a record SR400,000 ($106,600) this year after an initial price of SR100,000 at the 2024 International Falcon Breeders Auction, the Saudi Press Agency reported on Wednesday. American breeder Pacific Northwest Falcons, the owner of Ultra White, sold another peregrine chick named Super White for SR86,000 after an opening price of SR40,000 during the bidding on Tuesday night.

  • Biden presses Netanyahu on need to reach Gaza truce deal

    U.S. President Joe Biden on Wednesday pressed Israeli Prime Minister Benjamin Netanyahu on the urgency of sealing a deal for a truce in Gaza and the release of hostages, the White House said, but Israel and Hamas stuck firmly to their demands. The call between the leaders, in which Vice President Kamala Harris also took part, came after Palestinian health officials reported at least 50 Palestinians killed by Israeli airstrikes over a 24-hour period.

  • Lucid has ‘without a doubt’ surpassed Tesla as the EV industry’s tech leader, CEO says

    Rawlinson recently took to LinkedIn to demonstrate its developing technology, highlighting that the Lucid Air Pure is the most efficient production car in the world. The CEO also compared development of the Air’s technology to that of rivals like Tesla’s Model S — which Rawlinson worked on as chief engineer in the early 2010s — and the Porsche (POAHY) Taycan.

  • Summit set to make Saudi Arabia leading global AI model as envisioned by Crown Prince

    The 3rd Global AI Summit would showcase the advancements in artificial intelligence technologies with the participation of more than 300 speakers and specialists representing 100 countries from all over the world. Crown Prince and Prime Minister Mohammed bin Salman, who is also chairman of the Board of Directors of the Saudi Data and Artificial Intelligence Authority (SDAIA), will patronize the summit at the King Abdulaziz International Conference Center in Riyadh from September 10 to 12.

  • Who are the Saudi Pro League’s biggest transfers of summer 2024?

    A blockbuster summer transfer window in 2023, which saw global superstars like Neymar, Karim Benzema and Riyad Mahrez join Cristiano Ronaldo in the Kingdom, contributed to an explosion of interest in the Saudi Pro League – putting it on the world football map like never before. Fast forward 12 months and the fanfare has subsided somewhat as clubs scaled back their signings this summer, with many opting instead to consolidate their existing personnel. Still, there have been plenty of notable forays into the transfer market, with Al Qadsiah and Al Ittihad particularly active – the former spending more than $50 million on reinforcements.

  • Saudi Arabia’s series of law changes eases entry for investment and companies

    Two important laws that came out in the past week include an update to the new investment law which puts Saudi and non-Saudi investors on an equal footing and the amendments to the labour law that are expected to benefit employees and employers and enhance their relationship. As part of the law, there will no longer be a system of getting a foreign investment licence, instead, there will be an investment register that's operated by the Ministry of Investment.

  • Saudi World Cup bid bucks global trend for sporting events

    While other events at the games were held at existing venues, the swimming was the best example of how the Olympics has shifted from being an expensive construction endeavour to a more sustainable event that relies on a city’s existing infrastructure. Football’s Fifa World Cup is edging the same way with its requirement for countries bidding to host the event to use four existing stadiums.

  • Saudi Arabia crude oil exports drop in June

    The Organization of the Petroleum Exporting Countries (OPEC) is set to begin unwinding a level of production cuts of 2.2 million barrels per day from October. Earlier this month OPEC lowered its demand growth outlook for the first time in a year, citing softer expectations for China. Meanwhile, China and Saudi Arabia were the top destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in July.

  • Inside Lebanon’s Ponzi scheme economy and the $100bn outflow crisis

    “A close look over the 2003-2019 period suggests that outflows from Lebanon exceeded inflows to Lebanon by $100 billion, exerting pressure on the net foreign assets of the financial system composed of banks and the Central Bank and depleting liquidity within the system,” Dr. Marwan Barakat, Group Chief Economist and Head of Research at Bank Audi, told Arabian Business.