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Saudi unemployment a tick away from Vision 2030 goal of 7%
- November 15,2024
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- admin
Saudi Arabia’s General Authority for Statistics’ (GaStat) Q2 2024 Labor Market report shows that unemployment dropped to 7.1 % down from 8.5% a year earlier.
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Saudi Arabia hosts Arab-Islamic summit in response to Israeli action in Gaza and Lebanon
- November 12,2024
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- SUSTG Team
Saudi Arabia hosted an Arab League and the Organisation of Islamic Conference joint summit where Crown Prince Mohammed Bin Salman and other Arab leaders intensified criticism of Israel’s actions in Gaza and Lebanon.
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Saudi hosts first meeting of “International Alliance to Implement the Two-State Solution”
- October 31,2024
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- SUSTG Team
Saudi Arabia hosted the first meeting of a new international alliance to press for the establishment of a Palestinian state.
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8th Future Investment Initiative wraps in Riyadh
- October 29,2024
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- SUSTG Team
The 8th Future Investment Initiative (FII) conference just concluded in Riyadh, Saudi Arabia, running from October 29th to 31st, 2024. This year’s theme was “Infinite Horizons: Investing Today, Shaping Tomorrow.”
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Inexpensive solar panels are super-charging renewable energy growth
- October 25,2024
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- SUSTG Team
Solar PV and wind additions are forecast to more than double by 2028 compared with 2022, continuously breaking records over the forecast period to reach almost 710 GW.
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Saudi Finance Minister makes strong case for multilateralism at IMF, World Bank meetings
- October 23,2024
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- SUSTG Team
Saudi Finance Minister Mohammed Al Jadaan appealed for a strong defense of multilateralism, warning of the challenges that global fragmentation poses to trade and humanitarian efforts.
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16th BRICS summit in Russia October 22-24
- October 22,2024
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- admin
The 16th BRICS summit kicked off today in Kazan, Russia.
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New Murabba project hits early milestone
- October 21,2024
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- SUSTG Team
The ambitious $50 billion New Murabba project has excavated 10 million cubic meters in preparation for construction as it works to meet a December 2030 deadline.
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Global Logistics Forum 2024 concludes in Riyadh
- October 14,2024
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- admin
The Global Logistics Forum (GLF) hosted by the Ministry of Transport and Logistic Services, gathered industry leaders from the region October 12-14, 2024, at the King Abdullah Financial District.
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Minister of Investment leads investor delegation to Pakistan
- October 11,2024
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- SUSTG Team
A Saudi investor delegation headed by Minister of Investment Khalid Al-Falih is concluding a three-day visit to Pakistan. The delegation includes officials and companies from various sectors including energy, mining, minerals, agriculture, business, tourism, industry and manpower.
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MUST-READS
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Hezbollah introduces new weapons and tactics against Israel as war in Gaza drags on
Hezbollah has regularly fired missiles across the border with Israel over the past seven months, but the one on Thursday appears to have been the first successful missile airstrike it has launched from within Israeli airspace. The group has stepped up its attacks on Israel in recent weeks, particularly since the Israeli incursion into the southern city of Rafah in the Gaza Strip. It has struck deeper inside Israel and introduced new and more advanced weaponry.
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1982 is a timely story of war’s impact on ordinary people
The Arabic film 1982, directed and written by Oualid Mouaness, offers a rare and emotional depiction of the Israeli invasion of Lebanon that year and its impact on everyday people. Following the Israeli invasion through the eyes of a young boy at an elementary school in East Beirut, the film is a vehicle for Mouaness’s own memories of the invasion during his childhood. The relevance of the film’s commentary on war can be felt deeply while watching it now, as Palestinians in Gaza live their daily lives in the midst of violence and military invasion.
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Why the Saudi-Iranian Pact Is Withstanding the Gaza War
Saudi Arabia under Crown Prince Mohammed bin Salman is undergoing a domestic transformation and implementing ambitious megaprojects as part of Vision 2030, marking a strategic shift from regional entanglements to national development. The detente with Iran signals a Saudi effort to avoid becoming stretched too thin between internal economic challenges and external security threats.
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Aramco awards $3.3bn gas facility contracts to Sinopec and Tecnicas Reunidas
Aramco has awarded contracts worth more than $3.3 billion to Chinese company Sinopec and Spain’s Tecnicas Reunidas to build a gas facility in Saudi Arabia. According to a disclosure on the Spanish Stock Exchange, Sinopec will own 65 percent of the project and Tecnicas Reunidas will have a 35 percent share. The contract includes the development of a new facility in Saudi Arabia called Riyas natural gas liquids at the Jafurah unconventional gas production project.
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Inside the effort to create a far-reaching U.S.-Saudi-Israeli pact to end the war
Eleven days ago, Sen. Lindsey Graham arrived for a private meeting in a lavish tent with ruby red rugs and low burgundy cushions in the western Saudi Arabian oasis town of Al Ula, home to ancient Nabatean ruins. The tent is guarded by layers of Saudi security that protect the nearby winter camp of Crown Prince Mohammed bin Salman. Graham, a South Carolina Republican, was a participant in a series of high-stakes meetings with the crown prince in recent weeks involving American lawmakers and diplomats hoping to rekindle a potential treaty between Saudi Arabia, Israel and the United States. Their ambitious goal is to hammer out a framework for concluding the Israel-Hamas war, stabilizing the Middle East and paving the way for some form of Palestinian self-governance in the Gaza Strip.
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Saudi Arabia awards contracts worth $2.7bn for Qiddiya City mega project
Located on the outskirts of Riyadh, the project will include 60,000 buildings covering an area of 360 square km and is expected to eventually have more than 600,000 residents, Qiddiya said on Thursday.
Qiddiya City is also expected to create more than 325,000 job opportunities, yielding a nominal gross domestic product of 135 billion riyals ($36 billion) a year.
The project is also hoping to attract about 48 million visits per year.
Qiddiya City will include a gaming and e-sports district aimed at becoming a global centre for competitions, as well as a speed park, golf courses, a multipurpose stadium, a water theme park and Six Flags Qiddiya.
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Tactical Theatrics: Iranian Proxies and Allies Respond to the War in Gaza
Iran and its allies appear to be engaged in symbolic actions against Israeli and U.S. forces rather than openly provoking a war, but these theatrics still risk igniting a regional war all involved parties want to avoid.
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Saudi minister warns against climate action at expense of the less empowered
Saudi Arabia's energy minister said on Thursday that climate change solutions should not come at the expense of "less empowered people". "Climate change is crucial, important, but it should not be attended to by crushing the bones and the future of the less empowered people," Prince Abdulaziz bin Salman said at the Saudi-Arab-African Economic Conference in Riyadh.
- 5 dead and 5 injured — names on a scrap of paper show impact of Gaza war on a US family
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Qiddiya awards infra works contract to El-Seif, ALEC JV: Report
Saudi Arabia’s Qiddiya Investment Company (QIC) in has officially chosen a joint venture comprising the local entity El-Seif Engineering Contracting and the UAE’s ALEC for the pivotal contract centred around constructing infrastructure adjacent to the Qiddiya’s Speed Park racetrack. Preliminary work estimates suggest an approximate value of SAR 7 billion ($1.9 billion). Subsequent phases, which are currently in the design process, might raise the total value to approximately SAR 15 billion.
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