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  • Saudi developer Jabal Omar plans $1.4bn capital hike through debt conversion

    Saudi developer Jabal Omar Development Co. has received approval from the Capital Market Authority to increase its capital by SR5.3 billion ($1.4 billion). The listed company will finance the capital plan by converting debt, according to a statement by CMA.

  • The Hockey Girls of Kabul: Their harrowing escape and dreams of an ice-filled future

    Back in Canada, Nekzai researched how to build an outdoor rink and consulted with experts in the art of ice-making. She secured funding through the local Rotary Club in North York, Ontario, where she and her husband, Khalil, now lived. Along with the work of their now adult children, Hooria and Baktage, the Nekzai family raised enough money to pay for the materials and labor. They secured enough skates, helmets, sticks and pads for dozens of girls to play.

  • Saudi refining capacity rises 14% in 2021

    Saudi Arabia's refining capacity rose 13.7% in 2021, one of the biggest increases among its peers, as the world's largest exporter for crude continues to expand its downstream capabilities, according to the latest OPEC Annual Statistical Bulletin.

  • Saudi Venture Capital invests in the first venture debt fund

    Saudi Venture Capital (SVC) announced its investment in a global specialty lending fund managed by Partners for Growth (PFG), one of the international and experienced fund managers providing venture and growth stage debt instruments to startups and SMEs. PFG also maintains a close strategic partnership with Silicon Valley Bank. The fund focuses on offering venture debt instruments to high-growth startups and SMEs in several sectors, such as technology, fintech, healthcare, and life science.

  • Saudi Arabia to add 5.1 GW of solar capacity by 2031, Fitch says

    Saudi Arabia, one of the world's leading oil producers, is expected to deploy about 5.1 GW of solar capacity between 2022 and 2031 despite its ambitious targets and huge potential, Fitch Solutions said in a report last week.

  • Saudi Aramco to invest in 12GW of PV solar and wind capacity by 2035

    The report, issued on 15 June, also revealed the oil company’s target to reduce the carbon intensity of its upstream sector by 15 per cent by 2035. The energy major is also planning to produce 11 million metric tonnes (mt) a year of blue ammonia by 2030 as part of plans to achieve net-zero Scope 1 and Scope 2 greenhouse gas emissions from its assets by 2050.

  • France announces capture of senior Islamic State figure in Mali

    Mali has been hit by violence since 2012 when jihadists took over the north. France beat them back, but by 2015 they had regrouped and unleashed a wave of attacks in the centre. They have since spread into Niger and Burkina Faso, raising concerns about regional instability.

  • Saudi Develops Capital Projects’ Portfolios in 20 Entities

    Al-Jadaan, who is also the Chairman of Expenditure & Projects Efficiency Authority (EXPRO), inaugurated the National Guide to Project Management and the National Guide to Asset and Facilities Management, during a ceremony in the presence of a number of government agency officials and specialists. EXPRO has developed an action plan with 20 highest-spending government agencies to arrange their priorities and align them with the goals of Vision 2030, said Al-Jadaan.

  • Saudi Telecom shares rise on $8 billion capital increase proposal

    The Riyadh-listed company had earlier announced the proposed capital increase would involve issuing 30 billion new shares, with shareholders offered 1.5 new shares for each share owned.

  • Saudi PIF buys 23.97% stake in Jordan’s Capital Bank Group

    The $600 billion Saudi state fund will pay $185 million for the stake, by buying 63 million new shares of the bank, it said in a statement. The deal aims to increase the banking group's total shareholder equity to around $846 million, bolstering its ability to execute its strategy and expand its business, the statement said.