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Saudi PIF Reports $11 Billion Loss in 2022 after Earning $19 Billion in 2021 – Reports
- July 12,2023
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- SUSTG Team
Saudi Arabia’s sovereign wealth fund lost $11 billion on its investments last year, as the fall in global stock and bond prices impacted its holdings, according to a report in Bloomberg.
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Congressional Hearing Puts Capitol Hill Focus on Saudi Arabia’s Role in PGA
- July 11,2023
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- SUSTG Team
Two top PGA Tour officials will meet with US lawmakers today on Capitol Hill and plan to tell them that Saudi Arabia would have little sway over the golf business if a proposed merger with LIV Golf goes through, according to Bloomberg.
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Saudi businesswoman Dana Alajlani joins The 966, the PIF eyes a new sports investment arm, perceptions of Saudi and much more
- July 7,2023
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- SUSTG Team
Saudi businesswoman Dana Alajlani, Head of Public Affairs for the GCC at Sanofi, the French multinational pharmaceutical and healthcare company headquartered in Paris, joins The 966 to share her professional journey and story. Dana is also Co-Chairwoman of the American Chamber of Commerce in Saudi Arabia (AmChamKSA) and is involved there with the Women in […]
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Saudi Arabia Defends Oil Cuts with Russia, Vows to do ‘Whatever Necessary’ to Support Oil Markets
- July 6,2023
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- SUSTG Team
Saudi Arabia’s energy minister Prince Abdulaziz bin Salman defended Riyadh and Moscow’s recent oil cut decisions on Wednesday, which caused only a small, short-term increase in the price of Brent crude as the market shrugged at the move.
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Non-Oil Business Activity in Saudi Arabia Surged in June 2023 as Tourism, Construction Sectors Lift Economy
- July 5,2023
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- SUSTG Team
Non-oil business activity in Saudi Arabia surged in June supported by strength in construction and tourism, a survey showed.
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Discussing Saudi Arabia’s sporting ambitions and investments with expert Simon Chadwick, a NEOM update, and much more
- June 30,2023
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- SUSTG Team
Episode 92! Saudi Arabia’s sporting ambitions and investments have been dominating global coverage of the Kingdom in recent months. The 966 speaks with Simon Chadwick, Professor of Sport and Geopolitical Economy, SKEMMA Business School, Paris, about all of the interest and investments by Saudi Arabia and Gulf nations into global sports. Professor Chadwick has consulted […]
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Two people killed near the U.S. consulate building in Jeddah in exchanged fire; no Americans harmed
- June 29,2023
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- SUSTG Team
Two people were killed when an armed man exchanged fire with Saudi Arabian security authorities near the U.S. consulate building in Jeddah, according to reports leading to the deaths of the gunman and a security guard.
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NEOM’s Sindalah Island Eyes Status as Global Yachting Hub
- June 28,2023
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- SUSTG Team
NEOM has signed a deal with superyacht concierge and maritime agency BWA Yachting as it eyes an opening date for visitors within the year.
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Aston Martin Ties with Lucid for EV Partnership
- June 26,2023
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- SUSTG Team
Aston Martin Lagonda Global Holdings Plc., maker of the Aston Martin brand of cars, is tying up with Lucid Group Inc. on electric vehicle technology, uniting the British carmaker and relative automotive newcomer both backed by Saudi Arabia’s sovereign wealth fund, according to Bloomberg.
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Saudi’s SAMI Ink’s Deal with France’s Safran Helicopter Engines for Engine Maintenance – Reuters
- June 23,2023
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- SUSTG Team
State-owned Saudi Arabian Military Industries(SAMI) signed an agreement with France’s Safran Helicopter Engines for engine maintenance and repair, Reuters reports.
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MUST-READS
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Islamic art: Riyadh library exhibition to showcase 350 rare Qur’an copies
The King Abdulaziz Public Library will host an exhibition of rare gilded and decorated Qur’ans on Thursday in celebration of the holy month of Ramadan. The event will take place at the library’s King Abdulaziz Historical Center in the Al-Murabba branch. It is part of the library’s efforts to showcase rare items on religious and national occasions. More than 350 Qur’ans from the library’s collection will be showcased, including intricately gilded and decorated copies from past centuries. They reflect the values and aesthetics of Islamic decorative arts, illustrating artistic methods used in designing the margins of the surahs and verses of the Qur’an.
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Muslims spot Ramadan crescent moon in Saudi Arabia, meaning month of fasting starts Monday for many
The sacred month, which sees those observing abstain from food and water from sunrise to sunset, marks a period of religious reflection, family get-togethers and giving across the Muslim world. Seeing the moon Sunday night means Monday is the first day of the fast. Saudi state television reported that authorities there saw the crescent moon. Soon after, multiple Gulf Arab nations, as well as Iraq, Syria and Egypt followed the announcement to confirm they as well would start fasting on Monday. Leaders also shared messages of congratulations the month had begun.
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Muslims spot Ramadan crescent moon in Saudi Arabia, meaning month of fasting starts Monday for many
The sacred month, which sees those observing abstain from food and water from sunrise to sunset, marks a period of religious reflection, family get-togethers and giving across the Muslim world. Seeing the moon Sunday night means Monday is the first day of the fast. Saudi state television reported that authorities there saw the crescent moon. Soon after, multiple Gulf Arab nations, as well as Iraq, Syria and Egypt followed the announcement to confirm they as well would start fasting on Monday. Leaders also shared messages of congratulations the month had begun.
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Saudi Arabia starts to localize 35% of dental profession
Saudi Arabia’s Ministry of Human Resources and Social Development (HRSD) started to localize 35% of the dental profession in the private sector as of today, March 10. The decision, issued by HRSD Ministry in partnership with the Ministry of Health, will be implemented in the private-sector institutions with three or more workers. The Health Ministry will oversee and implement the decision, in line with the job market and the requirements of the dental profession.
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Max Verstappen cruises to victory at Saudi Arabian GP to extend dominant start to F1 title defense
Max Verstappen stayed firmly on course for another season of dominance in Formula 1 on Saturday by winning the Saudi Arabian Grand Prix. Even after just two races, and despite turmoil at Red Bull, Verstappen seems in near-total control on the track as he aims for a fourth consecutive title this year. Still, he had to share the attention with 18-year-old Oliver Bearman, who was a surprise seventh in his first F1 race as a Ferrari stand-in
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Ramadan 2024 in Saudi Arabia: Prayer Time, Start Date and More
The Saudi Ministry of Islamic Affairs is yet to confirm the official date following the sighting of the crescent moon on Sunday. If the moon is observed with the naked eye on Sunday, Ramadan begins on March 11. If Shaaban, the eighth month in the Islamic calendar comples 30 days, the first day of the holy month will be on March 12.
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Baseball United signs historic partnership to bring game to Saudi Arabia
Baseball United has announced a historic partnership deal with the Saudi Baseball and Softball Federation (SBSF) that provides them an unlimited term to host professional league and tournaments in the kingdom. It includes rights to new Baseball United franchises representing Riyadh, Jeddah, and Dammam – three of the kingdom’s largest cities, marking professional baseball's first foray into Saudi Arabia. “This is a monumental day for the sport of baseball,” Kash Shaikh, chairman, CEO, and co-founder of Baseball United, said.
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Saudi Arabia unlocks multi-billion dollar investments as part of its wider drive to become a global tourism powerhouse
A notable aspect of the initiative is its focus on benefiting local communities across tourism destinations. By localizing services such as contracting, design, and consulting, the program aims to create a direct positive impact on various sectors. This approach, coupled with over $800 billion invested to transform the tourism landscape, underscores Saudi Arabia's commitment to enhancing industry standards and providing lucrative opportunities for investors.
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Saudi-based Deep-Tech VC Fund Beta Lab makes strategic investment in Cross-Border fintech startup EximPe
EximPe, a Singapore headquartered company which previously raised seed round led by Singapore based Leo Capital , leverages technology and AI / ML to revolutionize cross-border payments and trade financing for SMEs. Its tech platform is powered by the likes of DBS, SBM, and 30+ other banks and fintechs.
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Hong Kong start-up hubs expand city’s collaboration with Saudi Arabia to forge closer ties a year after John Lee visit
Hong Kong Science and Technology Parks (HKSTP) and Cyberport each signed memorandums of understanding with Saudi Arabia’s King Abdulaziz City for Science and Technology in Riyadh on Monday, a year after Chief Executive John Lee Ka-chiu attended the Leap technology conference to foster closer ties between the two markets. The third annual Leap event is the first to feature a Hong Kong pavilion, where HKSTP and Cyberport had eight and seven companies exhibiting, respectively.
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