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The Growing Size and Role of the Public Investment Fund (PIF) in Saudi Arabia with Robert Mogielnicki, FII 2023, Saudi World Cup and more…
- October 6,2023
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- SUSTG Team
Dr. Robert Mogielnicki, Senior Resident Scholar at The Arab Gulf States Institute in Washington and professorial lecturer at George Washington University joins The 966 to discuss the growing size and role of the Kingdom’s sovereign wealth fund, the Public Investment Fund (PIF). Robert has previously characterized the PIF as, “screaming onto the scene” with an […]
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Saudi Arabia’s Tourism Effort Paying Off as Sector Sees 58% Growth in 2023 — Report
- October 4,2023
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- SUSTG Team
Saudi Arabia has been ranked second globally in terms of tourist arrivals during the first seven months of 2023, the Saudi Press Agency reported on Tuesday.
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Discussing the Venture Capital ecosystem in Saudi Arabia and the MENA with investor Amjad Ahmad and much more…
- October 2,2023
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- SUSTG Team
In episode 105 of The 966, Amjad Ahmad, a leading venture capitalist and seasoned investment professional with extensive experience in VC and private equity in emerging markets, joins to discuss the VC ecosystem in Saudi Arabia, the MENA region, and globally today. In addition to over two decades of experience investing in the region, Amjad […]
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As Tourism Sector in Saudi Arabia Soars, Officials Revise Upward Visitor Goals
- September 28,2023
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- SUSTG Team
As the tourism sector continues to outperform in Saudi Arabia, Saudi Arabia’s top officials are revising upward its visitor goals from previously targeted levels which were once considered by some to be unachievable when originally set forth.
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Lucid Opens First-Ever Auto Plant in Saudi Arabia
- September 27,2023
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- SUSTG Team
Lucid has opened the first ever car manufacturing plant in Saudi Arabia at the King Abdullah Economic City as the kingdom looks to establish itself as a global player in the EV race.
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Saudi Arabia Sends Envoy to West Bank as Progress in Talks with Israel Gather Pace
- September 26,2023
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- SUSTG Team
Saudi Arabia, which has engaged in U.S.-brokered talks with Israel to potentially normalize relations, Tuesday sent a delegation to the occupied West Bank for the first time in three decades, VOA reports.
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Marriott International Signs Agreement with NEOM to Open Two Luxury Properties in Trojena
- September 25,2023
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- SUSTG Team
Marriott International, Inc. announced it has signed an agreement with NEOM to open two luxury properties in Trojena, NEOM’s mountain destination located in the north-west region of Saudi Arabia. The agreement includes Saudi Arabia’s first W Hotel, and a JW Marriott property, according to a press release.
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The CEO of Riyadh’s financial district, Gautam Sashittal, joins The 966 to talk about the Kingdom’s original giga-project and the city of the future
- September 22,2023
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- SUSTG Team
Gautam Sashittal, the CEO of Riyadh’s financial district that has redefined Riyadh’s skyline and is the city’s most sought-after business address and lifestyle destination, joins The 966 podcast. The district is home to many of Saudi Arabia’s largest companies and regional headquarters of international corporations doing business in the region, as well as the Kingdom’s […]
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4th Riyadh Season Unveils New Logo and Theme Ahead of Launch; New Zone Created Called ‘Boulevard Hall’
- September 20,2023
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- SUSTG Team
Saudi Arabia’s General Entertainment Authority (GEA, revealed a new logo and identity for the fourth edition of “Riyadh Season,” set to launch on October 28 under the banner of “BigTime.”
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Saudi Economy Predicted to Grow by 3.9% in 2024 as Inflation Stabilizes, OECD Says
- September 19,2023
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- SUSTG Team
The Organization for Economic Co-operation and Development said that the Kingdom’s gross domestic product (GDP) is expected to rise by 3.9 percent in 2024, according to a report in Arab News.
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MUST-READS
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World’s Largest Airport Under Construction in Saudi Arabia
A masterplan for the airport was unveiled by the country's sovereign wealth fund, the PIF, in November 2022. Built on the site on the existing King Khalid airport, Riyadh, the new airport will cover an area of around 34 square miles, comprising six parallel runways, residential and recreational facilities, as well as retail outlets.
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Wood Completes Preliminary Engineering For World’s Largest CCS Hub In Saudi Arabia
Wood has completed the front-end engineering and design (FEED) scope for the first phase of Aramco’s Accelerated Carbon Capture and Sequestration (ACCS) project in Saudi Arabia, expected to be the world’s largest carbon capture and sequestration (CCS) hub, upon completion.
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Over 1.5 million pilgrims arrive in Saudi Arabia for annual pilgrimage
Over 1.5 million pilgrims have so far arrived in Saudi Arabia for this year’s Hajj season, the Kingdom’s General Directorate of Passports announced on Tuesday. The directorate said that up until Monday, June 10, the number of pilgrims that entered the Kingdom through the air, land and sea ports reached 1,547,295.
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Saudi Arabia’s automotive market surges amid shifting consumer preferences
The Kingdom imported 93,300 cars in 2023, marking a significant increase from the previous year’s 66,900, as revealed by Hamoud Al-Harbi, spokesperson for the Zakat, Tax and Customs Authority. This surge brings the total number of cars imported in 2022 and 2023 to 160,000, with major contributors including Japan, India, South Korea, the US, and Thailand.
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Saudi Arabia’s private sector workforce surges to 11.3 million
The number of employees in the Saudi private sector soared to 11.37 million last month, indicating significant job growth, according to an official labour agency.The Saudi National Labour Observatory (NLO) reported in a monthly publication that the workforce comprises 9 million expatriates and 2.3 million Saudis, including 971,323 female citizens.
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How Saudi Arabia Outbound Travel Surging Tourism In 59 Country With Visa Free Access Including Turkey, Egypt, Kazakhstan And Georgia?
The Saudi Arabian passport continues to enhance its global presence by granting its holders visa-free access to an impressive list of 59 countries and territories. Currently ranked as the 46th most powerful passport globally, it allows Saudi citizens to travel widely and effortlessly. Additionally, Saudis can visit GCC countries such as Bahrain, Kuwait, Oman, Qatar, and the UAE using just their national ID, streamlining travel within the region.
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Saudi Arabia warns of above-average heat during Hajj
Saudi Arabia said Tuesday pilgrims can expect average high temperatures of 44 degrees Celsius (111 Fahrenheit) during the Hajj, which last year saw thousands of cases of heat stress. "The expected climate for Hajj this year will witness an increase in average temperatures of 1½ to 2 degrees above normal in Mecca and Medina," national meteorology center chief Ayman Ghulam told a press conference. The forecast indicates "relative humidity 25%, rain rates close to zero, average maximum temperature 44 degrees," he said.
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Saudi Arabia largely removes negative portrayal of Israel from its school curriculum
Textbooks for the 2023-2024 school year no longer teach that Zionism is a “racist” European movement, and no longer deny the historical Jewish presence in the region, according to the study, published last week by the nonprofit IMPACT-se, which monitors educational curricula in Middle Eastern and North African countries.
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Saudi Arabia is trying to build the largest linear city ever. It’s a visionary but flawed concept, urban planners say.
The Spanish architect Arturo Soria is widely credited with designing the first linear city, "La Ciudad Lineal," in 1882 on the outskirts of Madrid. Around forty years later, in 1924, renowned Swiss-French architect Le Corbusier offered another radical alternative with his "Ville Radieuse," a linear, ordered metropolis full of green space.
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First Syrian jet in over a decade transports Muslim worshippers to Saudi Arabia for Hajj pilgrimage
For the first time in over a decade, 270 Syrians traveled on a direct flight early Tuesday from Damascus to Saudi Arabia for the annual Islamic Hajj pilgrimage, the Syrian Transportation Ministry said. The development is part of an ongoing thaw in relations between Damascus and Riyadh, which days ago appointed Saudi Arabia’s first ambassador to war-torn Syria since severing ties in 2012.
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