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Khalid bin Musaed bin Saif bin Abdulaziz Al-Saif (1953-2024)
- February 23,2024
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- Richard Wilson
*A note from SUSTG’s President, Richard Wilson.* My friend, Khaled Al-Saif, a true Saudi patriot, passed away on February 18.
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SoftBank to Create Industrial Robots for Saudi Arabia
- February 22,2024
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- SUSTG Team
Alat (Arabic for ‘machines’), the PIF funded $100 billion initiative to create an automated manufacturing hub in Saudi Arabia will invest up to $150 million in partnership with SoftBank.
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What it’s like to live in Saudi Arabia during Riyadh Season, PIF-backed Alat launches with eyes on a big impact, and more…
- February 20,2024
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- SUSTG Team
The boys are back for their normal format and catch up on just some of the seemingly endless new developments and storylines emerging from Saudi Arabia of late.
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Science Museum Group to create ‘museum hub’ in Saudi Arabia
- February 16,2024
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- SUSTG Team
The Science Museum Group is to create a Museums Hub in Saudi Arabia which it says will become a “center of excellence for science and culture and support the wider museum sector”. The new hub, to be located in Riyadh, hoped to enable the Science Museum Group to work with museum professionals, researchers and educators […]
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Saudi Family Office Mithaq Capital Buys Majority Stake in Struggling Retailer Children’s Place
- February 15,2024
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- SUSTG Team
Saudi Arabia’s Mithaq Capital, a family office owned by the Al Rahji Family, snapped up shares in struggling children’s retailer The Children’s Place to take a majority stake in the company, Semafor reports.
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House Prices in Riyadh Continue Climb into Record Territory — Knight Frank Report
- February 14,2024
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- SUSTG Team
Global real estate consultancy Knight Frank released today its Winter 2023/24 Saudi Arabia Residential Market Review, available now on the company’s website.
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A Look at Saudi Arabia’s Latest Tourism Figures
- February 13,2024
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- SUSTG Team
Tourism minister Ahmed bin Aqeel Al Khateeb recently revealed Saudi Arabia’s latest tourism figures — key numbers for the Kingdom as it looks to diversify its economy in part by attracting visitors to the Kingdom.
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Discussing Saudi Arabia’s growth and construction projects with Waleed Abdel-Fattah, President of the MENA Region at Hill International
- February 12,2024
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- SUSTG Team
Waleed Abdel-Fattah, President of the MENA Region at Hill International, joins The 966 to talk about Saudi Arabia’s building boom and Hill’s traction in KSA since entering the market to help build out what is now known as KAFD. Hill has 100 offices across 42 countries, and its main geographical areas are the US, Europe […]
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Saudi Arabia Leads Arab Push for Palestinian State as Anger over Israel’s Brutality Mounts in East and West
- February 9,2024
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- SUSTG Team
Saudi Arabia is pushing for Arab states to take “a common position on how to end Israel’s war on Hamas as fears grow over its attacks on the refugee haven of Rafah — while increasing calls for an independent Palestinian state,” Bloomberg reports.
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Local content rate seen at 43% in Saudi Arabia with a 20% jump in spending – PIF
- February 8,2024
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- SUSTG Team
The growth rate of local content in Saudi Arabia has now reached 43 percent, a top PIF official noted at the Private Sector Forum in Riyadh yesterday, noting that overall spending on content has increased by 20 percent.
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Saudi crown prince invites leaders of GCC, Jordan, Egypt for informal meeting in Riyadh
Saudi Crown Prince Mohammed bin Salman has invited the leaders of Gulf Cooperation Council countries, Jordan, and Egypt for a meeting in Riyadh on Friday, an official source stated on Thursday. The informal gathering follows similar meetings that have been held periodically for many years between the leaders of GCC countries, Jordan, and Egypt, enhancing cooperation and coordination. “Joint Arab action and any relevant decisions will be included in the agenda of the upcoming Extraordinary Arab Summit, which will be held in Egypt” on March 4, the source added.
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Why Is Saudi Arabia Seeking To Mediate A Deal Between U.S. And Iran?
“Riyadh is looking for a way to address concerns around Iran's nuclear program, as well as its regional activities and its support for proxies,” says Gregory Brew, senior analyst at the U.S.-based Eurasia Group. “Given Riyadh's interest in avoiding an escalation in the Gulf, it probably sees diplomacy as a more effective means of addressing these issues, rather than military action,” he added. “Saudi Arabia's willingness to moderate between Tehran and Washington was not borne of a political vacuum,” said Behnam Taleblu, senior director of the Iran Program at the Washington-based Foundation for Defense of Democracies (FDD). “By stylistically accommodating Tehran through diplomatic normalization but substantively remaining in the Western orbit, Riyadh is hoping to insulate itself from being the place where a larger regional conflict involving Iran is adjudicated.”
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Russia’s Putin holds phone call with Saudi Arabia’s Crown Prince
Russia’s President Vladimir Putin held a phone call with Saudi Crown Prince Mohammed bin Salman on Thursday, the Kremlin said. Putin said the two countries will continue to work within the OPEC+ framework to maintain stability in the global oil market. Putin also expressed his gratitude for organizing the Russia-US negotiations that took place in the Saudi capital Riyadh on Tuesday.
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Reconstruction and rivalries: What to expect from Saudi Arabia’s Gaza summit
Saudi Arabia’s Crown Prince Mohammed bin Salman is expected to host leaders from Egypt, Jordan, Qatar, and the United Arab Emirates in Riyadh on Friday to discuss the Egyptian proposal. Just because Trump has warmed up to an Arab post-war plan for Gaza and is keen on Gulf cash does not mean the crown prince and his counterparts have it easy. The Egyptian plan, which has now been widely reported, calls, unsurprisingly, for Palestinians to stay in the Gaza Strip. They would live in mobile housing while debris is cleared away and reconstruction begins. The main sticking point is who will pay for reconstruction and temporary housing. Analysts and diplomats have speculated that Trump’s call for the US to take over the enclave without paying for it was a ploy to get oil-rich Gulf states to foot the bill. More than $50bn will be required to rebuild Gaza, a joint assessment provided by the United Nations, European Union and World Bank on Tuesday said. At least $20bn will be required in the first three years. Asked in an interview in January if Saudi Arabia would fund Gaza’s reconstruction, Prince Khalid bin Bandar bin Sultan Al Saud, Saudi Arabia’s ambassador to the UK, said: “To reconstruct a Palestinian state, yes. To reconstruct a territory that the Israelis might destroy again in a matter of years, I don’t think that would be a sensible thing to do.”
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Tiger Woods joins another White House meeting as PGA Tour moves closer to Saudi deal
Tiger Woods joined PGA Tour Commissioner Jay Monahan and player director Adam Scott in a second White House meeting Thursday with President Donald Trump, another sign the sport is moving rapidly toward ending the division brought on by Saudi-funded LIV Golf. Yasir Al-Rumayyan, governor of the Public Investment Fund of Saudi Arabia and the financial muscle behind the rival league, also was part of the meeting. The tour said it would share more details when appropriate, adding: “We are committed to moving as quickly as possible.” “We share a passion for the game and the importance of reunification,” the statement said. “Most importantly, we all want the best players in the world playing together more often and are committed to doing all we can to deliver that outcome for our fans.”
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Chess: Carlsen wins again as he qualifies for the $1.5m Saudi Esports World Cup
Magnus Carlsen’s dominance of online chess has continued this week as the world No 1 is in pole position for the concluding stages of the Chessable Masters, the first leg of the annual Champions Tour which the Norwegian has won every year since it was launched in 2020. For 2025, the tour is also a qualifier for the Esports World Cup at Riyadh, Saudi Arabia, in July-August, where the chess prize fund will be $1.5m.
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Trump hails Saudi Arabia at investment event in Miami
This was the first time a US president has spoken at the Miami event. Elon Musk, who co-heads Trump’s newly created Department of Government Efficiency, was also there. As part of an increasingly high-profile relationship with the United States under President Trump, earlier this week Saudi Arabia hosted talks between the US and Russian foreign ministers aimed at paving the way for a resolution to the Ukraine war. In late January, during the first phone call Trump held with a foreign leader after returning to the White House, the Saudi crown prince, Mohammed Bin Salman, pledged $600 billion of trade and investment in the US over Trump’s four-year term.
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A Guide to Saudi Arabia
The Kingdom of Saudi Arabia may be progressing to the future at hastened speed, but its history dates all the way back to the Al Saud dynasty in 1744. With the opening of the UNESCO-listed Hegra site, a collection of ancient, preserved tombs and rock formations carved in the first century by Nabatean tribes, visitors are flocking to Saudi Arabia. History buffs have no shortage of options between the six UNESCO World Heritage sites. Archaeological landmarks showing traces of Neolithic period human settlement can be found in the verdant Al Ahsa Oasis where millions of date trees sprout from the ground and hot and cold springs refresh. Alternatively, wander the mudbrick home-lined alleyways at the 15th century Al Turaif. And then there’s Hima in the southwest, which is situated on an old caravan route with some of the oldest inscriptions and rock carvings in the world. Animal and human scenes spanning thousands of years abound at two petroglyph sites in Al Hail.
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Trump calls Saudi Arabia a ‘special place with special leaders’
US President Donald Trump thanked Saudi Arabia on Wednesday for hosting talks between Washington and Moscow last week, calling the Kingdom a “special place with special leaders.” Speaking at the opening of the Future Investment Initiative (FII) Institute, Trump said it was “a tremendous honor” to be the first American president to address the FII Institute. The US president singled out Crown Prince Mohammed bin Salman for his efforts in this regard. “But in particular, we have to thank [Crown] Prince Mohammed bin Salman for hosting these historic talks that went very, very well,” Trump said. Launched in 2017, FII brings together investors, policymakers, government officials and international private sector executives from across the globe.
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Saudi Arabia’s Shrewd Embrace of Ahmed Al Sharaa
In late December, Al Sharaa sat down with the Saudi pan-Arab news channel Al Arabiya for his first television interview as Syria’s leader. Al Sharaa’s choice of venue did not go unnoticed on the Syrian street and around the region. In the interview, the new president echoed MBS’s view that the region should focus on economic cooperation and investment over armed conflicts, praised Saudi Arabia’s crucial role regionally and globally, and made a point to reminisce about his childhood in Riyadh and his wish to walk its streets again. On the Saudi side, this opening gambit of the new Syrian administration is a smart one for the Kingdom’s own interests. MBS has made clear his desire for more calm in the region, allowing him to focus Saudi Arabia’s resources on his domestic reform agenda and economic diversification campaign rather than regional problems. The fall of the Assad regime has benefited Riyadh in a second crucial way: it has meant the near-total destruction of Assad’s captagon trafficking ring, which had impacted Saudi Arabia more than any other country in the region. Ensuring Syria’s stability to prevent a vacuum that allows for the continuation of the drug trade is a core Saudi national interest.
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