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Saudi Arabia Begins Construction on Lucid Motors Plant; Three to be Built in Kingdom
- May 26,2022
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- SUSTG Team
Workers have already broken ground on the future site of a Lucid motors plant in Saudi Arabia, Khalid al-Falih said during a panel at the World Economic Forum meeting in Davos this week.Â
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MBZ takes the reins in the UAE, the PIF’s Saudi Coffee Co., and much more…
- May 20,2022
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- SUSTG Team
Episode 44 📈 The hosts talk about the UAE’s long-time de facto ruler Sheikh Mohamed bin Zayed Al Nahyan, who was elected as president of the UAE a day after the death of former leader Sheikh Khalifa. They also discuss Saudi Arabia’s Public Investment Fund’s (PIF) new venture into the nascent coffee sector in caffeine-thirsty […]
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Total Saudi Government Revenue in Q1 2022 Up 36%, with Oil Revenue Up 58% – Jadwa Investment
- May 18,2022
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- SUSTG Team
Jadwa Investment’s recently-released report on the Saudi economy highlights the strong economic situation the Kingdom is in through the start of 2022, as higher oil prices and a growing non-oil sector continue to power growth in the Arab world’s largest economy.Â
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Crown Prince Mohammed bin Salman Visits Abu Dhabi Following Death of Sheikh Khalifa
- May 17,2022
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- SUSTG Team
Crown Prince Mohammed bin Salman of Saudi Arabia arrived in Abu Dhabi on Monday evening to offer his condolences on the death of Sheikh Khalifa bin Zayed Al Nahyan.
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High Oil Prices, Soaring Output Boost Aramco’s Profit to Nearly $40 Billion in 1Q
- May 16,2022
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- SUSTG Team
Saudi Aramco’s profit soared to nearly $40 billion in the first quarter of 2022, the highest since the company’s IPO, on the back of higher oil prices and increased output.
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Saudi Arabia’s tourism sector, carbon capture investments, and a conversation on Saudi-Iraqi history with Joshua Yaphe
- May 13,2022
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- SUSTG Team
In episode 43, the U.S. State Department’s Joshua Yaphe joins The 966 to discuss his book, “Saudi Arabia and Iraq as Friends and Enemies: Borders, Tribes and a Shared History.” Yaphe is a foreign affairs officer with the U.S. Department of State; responsible for research and analysis of political, economic, security and social affairs related […]
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With Energy Prices High, Saudi Aramco Again Becomes World’s Most Valuable Company
- May 12,2022
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- SUSTG Team
Elevated energy prices as a result of growing demand and supply shortages in the post-pandemic global economy boosted the value of Saudi Aramco to become the world’s most valuable company, according to reports.Â
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Kingdom Re-Launches Airports Privatization Strategy, Eyes 2023 Opening for Major Red Sea Tourism Project
- May 11,2022
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- SUSTG Team
Saudi Arabia is relaunching its strategy to privatize its airports in order to secure investment as it seeks to triple annual visitor numbers by 2030.
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Jon Alterman from the Center for Strategic and International Studies joins The 966 to talk about the Middle East in an evolving global order, U.S.-Saudi relations
- May 6,2022
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- SUSTG Team
In Episode 42, the ever-insightful Dr. Jon Alterman from the Center for Strategic and International Studies (CSIS), one of the leading think tanks in Washington, joins The 966 to talk about a changing global order and the Middle East’s role in it. The hosts ask Jon about his work to-date, including building the fascinating and […]
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UK PM Boris Johnson Speaks with Crown Prince Mohammed Bin Salman after March Visit
- April 26,2022
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- SUSTG Team
Just weeks after visiting Saudi Arabia and the UAE as part of a diplomatic push to align Western interests with that of Gulf allies, British Prime Minister Boris Johnson held talks via telephone on Monday with Saudi Crown Prince Mohammed bin Salman to discuss the dire situation in Ukraine and other matters.
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MUST-READS
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Lucid Said It Will Raise Up to $1.5 Billion in Capital
The company said in a regulatory filing that it planned to sell up to $600 million in new shares through Bank of America, Barclay’s Capital and Citi. It also said it reached an agreement to sell up to $915 million in stock to the sovereign wealth fund of Saudi Arabia, which already owns a majority of Lucid’s stock.
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Lucid Said It Will Raise Up to $1.5 Billion in Capital
The company said in a regulatory filing that it planned to sell up to $600 million in new shares through Bank of America, Barclay’s Capital and Citi. It also said it reached an agreement to sell up to $915 million in stock to the sovereign wealth fund of Saudi Arabia, which already owns a majority of Lucid’s stock.
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Alarm on Capitol Hill over Saudi investment in Twitter
The prince – who together with his investment firm has emerged as the second-largest investor in Twitter after Elon Musk’s takeover of the social media platform – became a prisoner. According to his own account, the prince was holed up in Room 628 of the Ritz Carlton in Riyadh for 83 days. At the time, the round-up of Saudi royals and other businessmen was hailed inside Saudi Arabia as an anti-corruption purge led by the kingdom’s Crown Prince Mohammed bin Salman, who is also Alwaleed’s cousin.
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Noor Riyadh: annual festival of light and art ready to illuminate Saudi Arabia’s Capital, with over 190 artworks by more than 130 local and international artists
Noor Riyadh is an annual festival of light and art, taking place across 40 locations throughout the capital of Saudi Arabia. From November 3 - 19, 2022, over 190 artworks illuminate the city of Riyadh with immersive site-specific installations, monumental public artworks, ephemeral sculptures, art trails, virtual reality, building projections and drone shows, transforming Riyadh into a dazzling night-time ‘gallery without walls’. The festival is co-curated by Hervé Mikaeloff, Dorothy Di Stefano and Jumana Ghouth.
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Saudi capital shines in global cities rankings
Riyadh has recorded a world-beating 46-point leap in a global rankings index for city cultural experiences. According to management consultant Kearney’s Global Cities Report, that looks at the impact of socio-economic and political developments on cities and their futures, the Saudi capital achieved the highest points tally jump in the category.
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Wizkid, Bruno Mars, and more to headline 400,000 capacity festival in Saudi Arabia
The first superstar lineup features Bruno Mars, DJ Khaled and Post Malone, the loudest music festival in the region, SOUNDSTORM, is confirmed to take place December 1-3 this year in Riyadh, Saudi Arabia
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Saudi National Bank to invest $1.52bln in Credit Suisse capital raise
Saudi National Bank will achieve shareholding of 9.9% in the Swiss investment bank as part of strategy to establish independent investment bank
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SICO completes 100% acquisition of SICO Capital
SICO BSC (c), a leading regional asset manager, broker, market maker and investment bank (licensed as a wholesale bank by the CBB), announced today that it has acquired the remaining 27.29% stake held by Bank Muscat in SICO Capital, a Saudi based full-fledged capital markets services provider. SICO had signed an agreement with Bank Muscat to acquire the remaining stake last month and the successful transaction closure was completed after obtaining all the required regulatory approvals. The acquisition value for the remaining stake in SICO Capital is BD 1.9 million, based on its net book value as of 31 March 2022.
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Russia poised to largely skirt new G7 oil price cap
Russia can access enough tankers to ship most of its oil beyond the reach of a new G7 price cap, industry players and a U.S. official told Reuters, underscoring the limits of the most ambitious plan yet to curb Moscow's wartime revenue. The Group of Seven countries agreed last month to cap Russian oil sales at an enforced low price by Dec. 5 but faced consternation from main players in the global oil industry who feared the move could paralyse the trade worldwide.
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Australia no longer recognises Jerusalem as capital of Israel
Labor government reverses recognition announced by former prime minister in 2018, which was in defiance of international law
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