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New Whitepaper Examines the State of Recycling, Waste Management in Saudi Arabia, UAE
- March 22,2021
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- SUSTG Team
A new whitepaper released online from the UK-based publication The Economist Intelligence Unit examines the state of waste management and recycling in Saudi Arabia and the UAE. The whitepaper, entitled Towards zero: Rethinking recycling in Saudi Arabia and the UAE, examines the state of waste management in Saudi Arabia and the UAE and identifies priorities for accelerating […]
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Event Alert: H.E. Khalid Al-Falih, Princess Reema bint Bandar Headline U.S.-Saudi Arabia Business Leaders Virtual Forum on March 23-24
- March 18,2021
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- SUSTG Team
The U.S. Chamber of Commerce is hosting a two day virtual event bringing together U.S. and Saudi Arabia business and government leaders on March 23-24. The event, entitled the U.S.-Saudi Arabia Business Leaders Virtual Forum, will see virtual keynote remarks delivered by H.E. Khalid Al-Falih, Saudi Arabia’s Minister of Investment, H.R.H. Princess Reema bint Bandar […]
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Stephen D. Bechtel Jr., Grandson of Company’s Founder, Dies at Age 95
- March 17,2021
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- SUSTG Team
Stephen D. Bechtel Jr., who expanded the global reach of Bechtel as chief executive from 1960 to 1990, died Monday at his home in San Francisco, the company announced. He was 95.
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New Paper Highlights Deep U.S.-Saudi Economic Relationship Beyond Defense and Energy
- March 16,2021
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- SUSTG Team
A new paper from authors David Kenner and Kameal Al-Ahmad of the King Faisal Center for Research provides a fresh overview of the US-Saudi economic relationship beyond the headline-dominating oil and arms sales.
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Saudi Arabia Now the ‘Top Theatrical Market in the Middle East’ and is now a ‘Major Driver for Arabic Film Production’ – Variety
- March 5,2021
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- SUSTG Team
Saudi Arabia’s historic re-opening of cinemas three years ago was the start of a major cinema and film boom in the Kingdom, making the Kingdom “the top theatrical market in the Middle East and is turning into a major driver for Arabic film production,” a top Hollywood publication reports.
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Saudi Arabia to End Contracts with Foreign Companies Without a Regional HQ in the Kingdom After 2023
- February 16,2021
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- SUSTG Team
Saudi Arabia announced on Monday that it will stop signing contracts with foreign companies from 2024 unless their regional headquarters are based in the Kingdom, part of a push to give more of the Kingdom’s economic opportunities to countries that will hire local talent and compete with neighboring cities in other Gulf nations.
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Crown Prince Mohammed bin Salman Announces Significant New Reforms to Judicial System, Push Toward Codified Law
- February 9,2021
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman announced on Monday plans to approve a set of new draft laws designed to enhance the efficiency and integrity of the kingdom’s judicial system, a step that would eventually lead to an entirely codified law.
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In Op-Ed, Ambassador Princess Reema bint Bandar Says Gender Equality Must Be A Global Priority
- January 29,2021
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- SUSTG Team
In a passionate op-ed published by Harper’s Bazaar Arabia, Saudi Ambassador to the U.S., H.R.H. Princess Reema Bint Bandar Al Saud urges leaders and others around the world to do more to support gender equality and argues “there is no better time to advance women’s roles in society than now.”
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In ‘Routine’ Action, New Biden Administration to Review Some Arms Sales from Previous Administration to Saudi Arabia, UAE
- January 28,2021
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- SUSTG Team
President Joe Biden’s administration has temporarily paused some pending arms sales to U.S. allies in order to review them, a move that is typical for most new incoming administrations, especially if arms sales are announced just hours before the outgoing administration departs.
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Future Investment Initiative Conference Opens with Impressive Virtual Platform for Distance Participation, Audience
- January 27,2021
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- SUSTG Team
Saudi Arabia’s annual flagship investment conference, the Future Investment Initiative, began today with both in-person and remote participation from speakers and audience on an impressive digital platform built to expand engagement in the conference around the world.
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MUST-READS
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OECD, Saudi suggest blockchain business passport to ease SME financial compliance
On Wednesday, a proposal was made for a Global Value Chain (GVC) Passport, a tool to verify a firm is financially compliant without having to repeat the process in numerous countries. The idea is to make cross border trade easier for all companies but especially SMEs.
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All the steps and conditions you need to know to open a business in Saudi Arabia
In 2018, AstroLabs solidified a partnership with Saudi Arabia’s Ministry of Investment (previously SAGIA), when they signed a cooperation agreement that made them a partner of choice to support businesses expanding into the Kingdom.
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Saudi Arabia’s business community making the most of G20 presidency
He said B20 Saudi Arabia’s discussions aim at developing recommendations for effective and implementable policies.Saudi Arabia will host this year’s G20 Summit of the world’s largest economies in November.As the holder of the G20 presidency, the Kingdom has already led a series of meetings in the areas of health, energy and education.In March, Saudi Arabia hosted an extraordinary G20 meeting on global efforts to tackle the coronavirus pandemic.
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World Bank halts country business climate rankings to probe data irregularities
The most recent Doing Business report here published in October 2019, showed that Middle East countries sharply improved their rankings, with Saudi Arabia climbing 30 places to rank 62nd and Jordan jumping 29 places to 75th. New Zealand was ranked highest for the fourth year in a row, followed by perennial high-rankers Singapore and Hong Kong.
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COVID-19 pandemic impact on Saudi Arabia’s food businesses
Businesses in Saudi Arabia's food sector were impacted differently by the COVID-19 pandemic lockdowns and movement restrictions. Food manufacturers, such as Savola and Almarai, saw gains. Retailers such as supermarkets run by Abdullah Al Othaim and Saudi Marketing Co. also earned larger sales and profits. The foodservice and catering sectors were hit, with Herfy and Saudi Airlines Catering suffering losses.
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Cyberattacks hit 95% of Saudi businesses last year, says study
Cyberattacks hit 95 percent of businesses in the Kingdom last year, according to a new survey, as a cybersecurity expert warned that there was a lack of awareness in Saudi Arabia about the seriousness of such attacks and what people could do to protect themselves. More than 800 global business and cybersecurity leaders took part in the survey, including 49 from the Kingdom. It was commissioned by a cybersecurity firm, Tenable Inc., and carried out by Forrester Consulting.
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95% of Saudi organizations have experienced one business-impacting cyberattack in past 12 months: Study
Tenable, Inc., the Cyber Exposure company, published a global industry study that revealed the vast majority of Saudi Arabian organizations (95%) have experienced a business-impacting cyberattack in the past 12 months, according to both business and security executives.
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Four in 5 business leaders in UAE and Saudi Arabia to invest more in remote working
The most common issues – all resolvable – include: frequent disconnects from corporate networks (43%), slow file downloads (41%), apps not working properly (40%), and long response times when loading apps (39%).
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New law to cut red tape in the business world
Among the most prominent and significant features of the proposed law is the introduction of a new kind of company — the simple joint-stock company, established by one or more founders without a minimum requirement for capital.
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Saudi Arabia allows businesses to delay loan payments for a year
The initiative includes postponing the repayment of loan installments due this year, totaling an estimated 670 million Saudi Riyals, for all entities that had signed up for the Corporate Sustainability Support Programme. In addition, the loan deferment will extend to loans provided by the programme to the health and educational sectors, with 192 benefitting from the latest announcement.
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