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Recent stories from sustg
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Saudi Arabia signs $533m deals with Africa; PIF Plans Investment Announcements – Reports
- November 9,2023
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- SUSTG Team
Saudi Arabia signed over SR2 billion ($533 million) worth of agreements with African countries during a special conference in a “significant boost to the Kingdom’s ties with the continent,” according to reports.
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Saudi Arabia’s PIF Invests $100 Million in the US-based Professional Fighters League Mixed Martial Arts
- August 30,2023
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- SUSTG Team
Saudi Arabia’s Public Investment Fund, using a new investment vehicle, will reportedly make the Kingdom’s first foray into mixed martial arts (MMA) by investing $100 million in the US’s Professional Fighters League and creating a regional tournament, the Financial Times reports.
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Growing Saudi female sports participation triggers retail growth
- May 16,2024
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- SUSTG Team
Writing for Jing Daily, Julienna Law reports that Saudi Arabia’s sportswear and athleisure apparel market is set to boom as women, in particular, become more active in sports.
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Saudi Stock Market Lists 400th Security
- April 3,2024
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- SUSTG Team
Formally established in 2007 after the devastating market crash of 2006 and incorporated as a holding company in 2021, the Saudi stock market (Tadawul) recently hit a milestone of 400 listed securities.
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Fitch Affirms Saudi Arabia at ‘A+’ with Outlook Stable
- February 6,2024
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- SUSTG Team
Fitch Ratings has affirmed Saudi Arabia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘A+’ with a Stable Outlook, the ratings agency said. “Saudi Arabia’s ratings reflect its strong fiscal and external balance sheets, with government debt/GDP and sovereign net foreign assets (SNFA) considerably stronger than both the ‘A’ and ‘AA’ medians, and significant fiscal buffers […]
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The Saudi economy and government spending with former IMF Country Head for Saudi Arabia Tim Callen, big announcements from The 966, and much more…
- November 10,2023
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- SUSTG Team
Tim Callen, ex-IMF Mission Chief to Saudi Arabia and Visiting Fellow at AGSIW, joins The 966 to discuss Saudi Arabia’s budget, government spending, and more. Tim’s most recent piece for AGSIW discusses how increased spending in Saudi Arabia raises risks to the Saudi budget. The hosts take advantage of Tim’s extensive experience and vast knowledge on how […]
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New Murabba Development Company Awards Industry-Leader Bechtel with PMC Contract for Masterplan, Site-Wide Infrastructure
- August 29,2023
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- SUSTG Team
The Saudi-based, PIF-owned New Murabba Development Company has announced that Bechtel, the leading engineering and construction company, has been awarded a key contract to provide project management services for the New Murabba development in the capital Riyadh.
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Saudi Entertainment Ventures (Seven) and Qiddiya Combine
- May 15,2024
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- SUSTG Team
Seven, a wholly owned public investment fund (PIF) company, has now become a wholly owned subsidiary of Qiddiya to enhance the offerings of both companies and support its wider strategy for the entertainment, leisure and sports sector.
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Saudi Arabia’s non-oil business activity grows robustly in March, PMI shows
- April 3,2024
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- SUSTG Team
Strong demand helped drive non-oil business activity in Saudi Arabia in March, Reuters reports, with output accelerating to a six-month high.
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2nd PIF Private Sector Forum Concludes; Expands Private Sector Interaction with PIF Portfolio Companies
- February 7,2024
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- SUSTG Team
Saudi Arabia concluded its second edition of the “PIF Private Sector Forum” in Riyadh, an event that brought together stakeholders from the PIF and its portfolio companies to engage directly with private sector companies at the King Abdulaziz International Convention Center in Riyadh.
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Value of Saudi imports from Turkey drops further in January
The value of Saudi Arabian imports from Turkey dropped further in January, official data showed on Thursday. Imports from Turkey amounted to 14.1 million riyals ($3.76 million) in January, down from 50.6 million riyals in December, and from 622 million riyals in January 2020, according to Saudi Arabia’s General Authority for Statistics.
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Turkey withdraws from E.U. treaty on violence against women
President Recep Tayyip Erdogan issued a surprise decree early Saturday withdrawing Turkey from a landmark European treaty that women's rights groups said had played a critical role in protecting Turkish women from gender-based violence. The treaty, the Istanbul Convention, sought in part to ensure equal legal protections against abuse for women across Europe. Turkey was the first country to sign the convention, in 2011, when Erdogan was prime minister. But some conservative Muslims who form a critical bloc of support for the Turkish leader had criticized the treaty from the start, framing it as part of a Western plot aimed at harming the country’s traditional notions of family and encouraging divorce.
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Erdogan says Saudi Arabia wants to buy armed drones from Turkey
Turkish President Tayyip Erdogan said on Tuesday that Saudi Arabia is seeking to buy armed unmanned aerial vehicles from Turkey, after years of tension between the two regional powers. Ties with Riyadh have been strained over the killing of journalist Jamal Khashoggi in the Saudi consulate in Istanbul in 2018. Trade has collapsed under an informal Saudi boycott, but both countries have said they will work to improve relations.
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Turkey says it has restarted diplomatic contacts with Egypt
Turkey has resumed diplomatic contacts with Egypt and wants to further cooperation, Turkish leaders said on Friday, after years of tension since the Egyptian army toppled a Muslim Brotherhood president close to Ankara.
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Boycott brought down Saudi imports from Turkey by 72% in December
The value of Saudi Arabia’s imports from Turkey fell by 72 percent to a record low in December 2020, reaching SR50.6 million, down from SR182.2 million in the previous month. According to the latest figures of the General Authority for Statistics (GASTAT) published on Wednesday, the December value is the lowest in the volume of imports from Turkey in at least a year.
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Commentary: Turkey Signals Sweeping Regional Ambitions
A nationalist Turkish television station with close ties to President Recep Tayyip Erdogan has dug up a 12-year-old map that projects Turkey’s sphere of influence in 2050 as stretching from South-eastern Europe on the northern coast of the Mediterranean and Libya on its southern shore across North Africa, the Gulf and the Levant into the Caucasus and Central Asia.
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Turkey accuses U.S. of supporting Kurdish militants after 13 Turkish hostages are killed
The latest outburst came a day after Ankara said that 13 Turkish hostages being held in northern Iraq by the militant Kurdistan Workers’ Party, or PKK, had been found executed by their captors. The State Department issued a statement condemning the killings but suggesting the PKK’s involvement had yet to be confirmed.
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Biden Extends Ban on Turkey Buying F-35 Stealth Fighter
“Turkey is a longstanding and valued NATO ally, but their decision to purchase the S-400 is inconsistent with Turkey’s commitments as a U.S. and NATO ally,” Pentagon Press Secretary John Kirby said during a Friday afternoon press briefing. “Our position has not changed. The S-400 is incompatible with the F-35 and Turkey has been suspended from that program. We urge Turkey not to retain the S-400 system.”
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Greece extends coastal claim to Ionian Sea waters, indirectly warns Turkey
Simultaneously, Turkey was told publicly by Greek Prime Minister Kyriakos Mitsotakis that Athens had "zero naivety" before talks due in Istanbul next Monday over rival maritime claims, focused since last year over eastern Mediterranean offshore gas deposits claimed by Turkey .
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No intention of altering ties with Turkey, Iran after Saudi summit, Qatar says
“It will take some steps among the countries to rebuild the relationship ... there will be differences, some outstanding issues that will be discussed bilaterally between the countries,” he said. “Each country has a different set of disagreements with Qatar.”
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