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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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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 to Convene Emergency Arab Summit in Riyadh ‘In the Next Few Days’ and Will Postpone Arab-African Summit
- November 8,2023
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- SUSTG Team
Saudi Investment Minister Khalid Al Falih said the Kingdom would convene an emergency Arab summit in Riyadh “in the next few days” to discuss the ongoing war in Gaza.
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Saudi Arabia Launches Separate Real Estate Registry, Indicators Platforms – Report
- November 7,2023
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- SUSTG Team
Saudi Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of Directors of the Real Estate General Authority Majid al-Hogail launched on Monday the Real Estate Registry platform and the Real Estate Indicators platform on the sidelines of the Saudi Proptech Summit, according to a report in the Saudi-owned Asharq Alawsat.
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Saudi Arabia Eyes Stake in $30 Billion Indian Cricket League – Report
- November 6,2023
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- SUSTG Team
Saudi Arabia has expressed interest in buying a multibillion-dollar stake in the Indian Premier League (IPL), international cricket’s most lucrative event, Bloomberg reports.
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MasterCard’s Maria Medvedeva joins The 966 to talk payments, fintech and more; plus more on Leyja at Neom
- November 3,2023
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- SUSTG Team
In Episode 110, Maria Medvedeva, Vice President, Saudi Arabia and Bahrain for MasterCard joins to discuss the company’s KSA strategy, fintech, payments, innovation, and her experiences living and working in a changing and evolving Saudi Arabia. Maria, based in Riyadh with her family, is responsible for Mastercard’s growth strategy and delivering innovative payment experiences for […]
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Saudi Arabia Set to Host World Cup in 2024 as Competitors Drop Out
- November 2,2023
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- SUSTG Team
Saudi Arabia is on the brink of hosting the 2034 World Cup after competing bidder Australia dropped its candidacy to host the global event, marking another milestone in Saudi Arabia’s efforts to develop sports as a contributor to its economic diversification goals.
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Habitas to Manage Neom’s Annonuced Mountain Destination Leyja with 120 Rooms
- November 1,2023
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- SUSTG Team
Saudi Arabia’s mountain destination of Leyja, announced last month, will be managed by high-end brand Habitas, according to a report.
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Saudi Arabia’s AlUla Reveals Winning Design for New Airport Terminal
- October 31,2023
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- SUSTG Team
The Royal Commission for AlUla (RCU) has unveiled the winning design for AlUla’s new airport terminal in Saudi Arabia following a global competition, according to a report. The winning design was announced last week at the Kingdom’s 7th Future Investment Initiative conference in Riyadh.
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Saudi defense minister expected to visit White House on Monday – Axios Report
- October 30,2023
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- SUSTG Team
Saudi Arabian Defense Minister Prince Khalid bin Salman is expected to visit Washington on Monday for meetings with senior Biden administration officials, according to a report in Axios which cited three sources.
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MUST-READS
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Gulf countries call for Israel to withdraw from Syrian lands it occupied after collapse of regime
Gulf countries on Thursday issued a firm call for Israel to withdraw from the Syrian lands it recently occupied after taking advantage of a security vacuum following the collapse of the former regime. The call was issued at the start of an extraordinary meeting for the ministers of foreign affairs of the Gulf Co-operation Council (GCC) in Kuwait to discuss recent developments in Syria and Lebanon. “Israel's attacks on Syria and occupation of the buffer zone are a flagrant violation of international laws and Security Council resolutions,” the Secretary General of the Gulf Co-operation Council Jasem Al Budaiwi said in his opening speech. Since the collapse of president Bashar Al Assad’s regime this month, Israel has bombed hundreds of weapons sites, airbases and naval assets in Syria and sent troops into a buffer zone in the occupied Golan Heights. Israeli officials have called the incursion a limited and temporary measure to ensure the security of Israel’s borders but have not indicated when the troops will be withdrawn.
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UAE becomes Africa’s largest investor, overtaking China
The UAE has emerged as Africa’s largest backer of new business projects, with Emirati companies committing $110bn (£88bn) to projects between 2019 and 2023, including $72bn in renewable energy, The Guardian reports citing FT Locations. These pledges outpace investments by the UK, France, and China, as traditional investors scale back. African leaders have also welcomed the UAE’s increased financial interest, particularly for green energy and infrastructure. “African countries are in dire need of this money [for] their own energy transitions,” Ahmed Aboudouh, associate fellow at Chatham House was quoted as saying. “But at the same time, [Emirati investors] come in with less attention to labour rights, to environmental standards.” The UAE’s investment ambitions align with its strategy to diversify from oil and gas. Major players include Dubai’s DP World, operating six African ports, and Abu Dhabi Ports, which has expanded in Guinea, Egypt, and Angola. In Zambia, International Resource Holdings—a conglomerate linked to Sheikh Tahnoon bin Zayed—secured a surprise $1.1bn deal for a 51 per cent stake in Mopani Copper Mines.
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Saudi previously sought extradition for Germany attack suspect: Source close to government
Saudi Arabia had previously requested extradition for the Saudi suspect in Germany’s deadly Christmas market attack, a source close to the government told AFP on Monday. “There was [an extradition] request,” said the source, without giving the reason for the request, adding that Riyadh had warned he “could be dangerous.” The attack on Friday evening killed five people. Saudi Arabia had warned Germany “many times” about Taleb Jawad al-Abdulmohsen, the source said. He did not explain in what way he was considered potentially dangerous.
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Saudi football gets its own Netflix documentary
Over six episodes, Saudi Pro League: Kickoff chronicles the 2023-24 season, highlighting the impact of Cristiano Ronaldo’s move to Al-Nassr in 2022. His arrival in Riyadh — and a $200-million-a-year contract — inspired global stars, including Brazil’s Neymar and French striker Karim Benzema, to move to Saudi, elevating the league’s market value and global reach, with matches broadcast in 180 countries. The series examines football’s deep cultural roots in Saudi Arabia, and provides insight into the lives of the newcomers to the country.
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The Camel Museum: A Living Symbol of Authentic Saudi Culture
Believing in the importance of participating in this national celebration of the camel, we at “Northwest Bus” launched a distinctive competition for designing a bus sticker inspired by the Year of the Camel. We invited all creative students across the Kingdom to participate with their ideas and innovative designs to take part in this historical journey and express their pride in this cherished national symbol. In conclusion, let us celebrate the Year of the Camel with a spirit of pride and heritage, and look forward to a bright future that combines authenticity, progress, and pride in our national identity.
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Saudi Reef Forum Sets New Milestones for Sustainable Development
Organized by the Ministry of Water, Environment and Agriculture, the three-day event was recognized by Guinness World Records as the most attended agricultural forum in the world, bringing together around 70 speakers and nearly 5,000 visitors, including representatives from government entities, academia, businesses, local farms, and NGOs. The event highlighted the importance of rural communities and the role of public-private partnerships in rural development, aligning with the UN Sustainable Development Goals and Saudi Vision 2030.
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Saudi Arabia Becomes Top Buyer Of Russian Fuel Oil
Saudi Arabia was the leading buyer of Russian seaborne fuel oil and vacuum gasoil (VGO) exports in November, LSEG data has revealed. According to Reuters calculations based on LSEG data, Russian fuel oil and VGO exports grew 6% month-on-month in November to about 4.26 million metric tons. Asian countries have become top buyers of Russia's fuel oil and VGO ever since the European Union imposed a full embargo on Russian oil products in February 2023. India is no longer the biggest buyer of Russian crude. According to the Centre for Research on Energy and Clean Air (CREA), India’s imports of Russian crude fell a massive 55% in November--the lowest figure since June 2022--despite Russia continuing to sell its oil at a discount. India has lately been trying to diversify its oil supplies
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Commentary: The balance of power is shifting in the Middle East – and it is Turkey’s ‘full moon’ on the rise
Turkey played a pivotal role in the rebels’ surprising triumph. The operation unfolded with an extraordinary lack of the kind of violent destruction that has characterised Syrian campaigns over the past 13 years. Turkey provided intelligence, guidance and political cover. In the early years of the Syrian conflict, dozens of nations offered sporadic support to opposition groups, but Turkey’s commitment to the rebels in the north-western enclave near its border was consistent. Through ceasefires and frozen frontlines brokered since 2019, Turkey ensured that the rebels had the stability to rearm and reorganise. With Iran stretched thin and unable to provide resources and manpower due to Israeli strikes against Hezbollah and Iranian networks in Lebanon and Syria, the collapse of Assad’s regime became not only possible but inevitable. Meanwhile, Russia, preoccupied with its war in Ukraine, offered only limited support to Assad.
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The presence of women in Saudi press conferences
The overall results show that the recent empowerment of Saudi women has led to an increase in their participation, rising from complete absence to nearly 14% of the questions asked. This shift may also encourage journalists to broaden their focus from women’s issues to other pressing topics of greater public interest. However, while female participation in the Saudi workforce has risen from 17% to 36%, their involvement in press conferences remains underrepresented. This suggests that certain areas of the workplace may require more time to advance, potentially through further training and education.
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From Riyadh Metro to flying taxis: Saudi Arabia’s transport revolution easing commutes
The Riyadh Metro is opening in three phases. The Blue Line, which is 38 kilometers (24 miles) long, was one of the first lines to partially open, alongside the Yellow and Purple Lines, and runs north to south through Downtown Riyadh. The Red and Green Lines launched on December 15, while the Orange Line is scheduled to open by January 5, 2025. “Alternative means of transport outside of cars are necessary. Riyadh is gridlocked,” Nazar Musa, CEO at Sovereign PPG KSA, told Al Arabiya English. “Public transport solutions are crucial to ease traffic flow around the city.” The entire project features six color-coded lines spanning 176 kilometers with 85 stations, making it one of the largest urban transport projects currently operational in the world. Forty percent of the tracks run underground, facilitating smoother journey times across the Kingdom. The system features 183 train rakes manufactured by Siemens, Bombardier, and Alstom, establishing itself as the world’s longest driverless metro network. The fully automated operation represents a significant technological leap for the region’s public transportation infrastructure.
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