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Royal Order Converts Riyadh’s King Saud University to Independent, Non-Profit Academic Institution under Umbrella of RCRC
- July 27,2023
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- SUSTG Team
Crown Prince Mohammed bin Salman issued a Royal Order transforming King Saud University into an independent, non-profit academic institution that be under the “umbrella” of the Royal Commission for Riyadh City, according to multiple reports.
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Brazilian Miner Vale Nears Deal to Sell 10% of Its Base Metals Business to Saudi Arabia’s PIF, Ma’aden – Report
- July 26,2023
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- SUSTG Team
Brazilian miner Vale is reportedly close to completing a deal to sell a roughly 10% stake in its $25 billion base metals unit to a joint venture between Saudi Arabia’s sovereign-wealth fund, the PIF, and the Saudi mining company Ma’aden, people familiar with the matter told the Wall Street Journal.
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Saudi Arabia’s Receipts from Oil Sales Abroad Down in May, Lowest in Over a Year – Report
- July 25,2023
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- SUSTG Team
Saudi Arabia’s leadership in OPEC+ with voluntary cuts to production has proven to be costly, sending its receipts from oil sales abroad down by a third, to its lowest in over a year, according to a report in Bloomberg, which cited the Kingdom’s General Authority for Statistics (GASTAT).
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PSG Confirms Saudi club Al Hilal Makes World Record $332m Bid for French Mega-Star Mbappé
- July 24,2023
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- SUSTG Team
Saudi team Al Hilal made a record €300 million ($332m) bid for Kylian Mbappé on Monday, which could see the France striker join Cristiano Ronaldo for the next year of the Saudi Pro League, according to reports.
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The MENA region gets hotter as a global heat wave hits 3 continents, the Islamic New Year, Saudi Arabia outranks the US in expat survey and much more…
- July 21,2023
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- SUSTG Team
Episode 95! The hosts discuss some of the biggest storylines and topics on Saudi Arabia this week. First, Richard’s One Big Thing this week, the Islamic new year. Muslims around the world observe and celebrate the Islamic New Year, also called the Hijri New Year, which marks the beginning of a new lunar Hijri year. […]
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PIF Announces Establishment of Sawani Company to Enable Growth of Camel Farming Industry
- July 20,2023
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- SUSTG Team
The Public Investment Fund (PIF) of Saudi Arabia announced the establishment of Sawani Company “to enable the growth of the Saudi camel farming industry and actively contribute to its sustainable development,” the fund said in a press release.
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Saudi Arabia Leads MENA in VC Funding So Far in 2023, MAGNiTT Report Says
- July 19,2023
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- SUSTG Team
Saudi Arabia was the MENA leader in VC funding in the first half of 2023, a report by the research and analysis firm MAGNiTT said in its recently-released report.
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Saudi Arabia Buys Turkish Drones During Erdogan’s Visit; Crown Prince, Turkish Leader Drive Turkish EV
- July 18,2023
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- SUSTG Team
Saudi Arabia agreed on Tuesday to buy Turkish drones in what is being called the biggest defense contract in Turkey’s history, though no exact figures were announced.
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Turkey’s Erdogan Departs for Saudi Arabia to Seek Investment
- July 17,2023
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- SUSTG Team
Turkey’s President Recep Tayyip Erdogan will visit Saudi Arabia and the United Arab Emirates this week as he looks to attract foreign investment into Turkey.
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Physician and media commentator Dr. Qanta Ahmed joins The 966 to talk about ‘colossal’ changes in Saudi Arabia and much more
- July 14,2023
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- SUSTG Team
Physician, non-fiction author, and broadcast media commentator and writer Dr. Qanta Ahmed joins The 966 from New York to discuss the “colossal” changes in Saudi Arabia since Vision 2030 was launched and her view that Saudi Arabia has emerged as an increasingly important and influential global power. Dr. Qanta is an Academic Pulmonologist and Sleep Disorder Specialist at NYU […]
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MUST-READS
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Golf Saudi ambassadors delivered excitement under the lights for home crowd at LIV Golf Riyadh
Competing in front of the passionate home crowd, Golf Saudi ambassadors Dustin Johnson, Talor Gooch, Harold Varner III, Jason Kokrak not only showcased their skills on the green but also their commitment to developing golf in Saudi Arabia. By supporting grassroots programs, mentoring emerging talent, and promoting Saudi golf on the global stage, they are helping shape the future of the game in the country. Adding to the local presence, Khaled Attieh, one of Saudi’s newest professional players and a recently announced Golf Saudi ambassador, was selected as reserve for the 2025 season-opening LIV event. His participation further underscored Saudi’s growing impact on the sport, as he gained valuable experience among some of the world’s top golfers.
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Saudi Industrial Production Index up 2.1% in December
Saudi Arabia’s Industrial Production Index (IPI) added 2.1% year-on-year (YoY) in December 2024, data issued by the General Authority for Statistics (GASTAT) showed. The IPI rose to 104.23 points in December, according to the base year 2021, compared to 102.13 points in December 2023. GASTAT attributed the growth to higher activity in manufacturing, water supply, sanitation, waste management and treatment sectors. The IPI measures the relative change in production quantities of materials and goods, tracking their transformation from raw materials to final consumable products for economic returns.
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Saudi Neom, DataVolt sign agreement for $5 billion AI project
Saudi Arabia's NEOM, a Red Sea urban and industrial development, has signed a deal with DataVolt to develop a 1.5 gigawatt (GW) net zero artificial intelligence project in its Oxagon industrial zone, the Saudi state news agency reported on Monday.The project, which will operate as an integrated data centre, would see investment worth $5 billion in the first phase, SPA reported, adding it is set to be operational in 2028. It comes as the kingdom races to become an artificial intelligence hub, amid regional competition from the UAE and Qatar, capitalising on booming demand for generative AI technology, which requires vast amounts of processing power. Last year, the governor of Saudi Arabia's Public Investment Fund (PIF) Yasir Al-Rumayyan pitched the kingdom as a prospective hub for artificial intelligence activity outside the United States, citing its energy resources and funding capacity.
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Anti-Patriarchy Saudi Drama ‘Hobal’ Beats Hollywood Titles, Becoming Standout Local Hit
Saudi filmmaker Abdulaziz Alshlahei’s drama “Hobal” about clashes between tradition and modernity within a Saudi family during the early 1990s is scoring mightily at the Saudi Arabian box office, outperfoming Hollywood titles such as “Mufasa: The Lion King,” “Flight Risk” and “Den of Thieves 2: Pantera.” The timely film in which a Saudi family is forced by its grandfather to live in isolation in the desert at the outbreak of the 1990 Gulf War, when a young girl falls ill, prompting her mother to fight the patriarchy to try and save her child, is striking a deep chord with Saudi audiences. “Hobal” has now pulled more than 500,000 admissions since its Jan. 2 release via distributor Qanwat Group, racking up a handsome roughly $5.7 million take to date, according to figures from the Saudi Film Commission which compiles Saudi box office numbers.
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A Blueprint For The Future: Global Lessons In Sustainability From Saudi Arabia’s Vision 2030
My team and I had our eyes on Saudi Arabia with a clear purpose: to meet the people and organizations leading the charge in conservation and sustainability. Our goal was to experience the Kingdom’s top-down approach, where leadership drives businesses and communities alike toward ambitious environmental objectives. From urban planning to marine conservation initiatives, we sought to explore how the country is positioning itself as a global model for integrating advanced science and sustainability into every layer of its rapid development.
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Records set for Arab artists at Sotheby’s debut Saudi Arabia auction
Sotheby’s reported a full house for the “Origins” sale, which was held in a 250-seat outdoor amphitheater and featured participants from 45 countries. The sale totaled $17.28m with a sell-through rate of 67% by lot and 74% by value. Almost a third of the buyers were from Saudi Arabia. The auction offered an eclectic mix of around 120 objects. Approximately half were works of art and a quarter watches and jewelry, while there were also 17 designer handbags and several items of sports memorabilia.
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Sotheby’s ‘Origins’ auction in Diriyah achieves more than $17 million in sales, with Saudi artists shining
Sotheby’s inaugural auction in Saudi Arabia, titled “Origins,” concluded on Saturday with a total of $17,283,840 in sales in the fine art and luxury categories. The historic event at Diriyah’s Bujairi Terrace was a turning point for the Kingdom’s art and luxury scene, with Saudi artists garnering significant attention. Jerry Inzerillo, CEO of Diriyah Company, highlighted the significance of the collaboration between Diriyah and Sotheby’s. “A few years ago, we decided that Sotheby’s, as a 277-year-old brand, had to match up with Diriyah because the value systems were the same, and you can’t be Sotheby’s without being in Diriyah,” he said in his opening remarks. The modern and contemporary art section featured works by Saudi artists that collectively realized $1.1 million in sales.
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Opinion: Saudi Arabia should consider regional leadership as an alternative to normalisation with Israel
Looking at the issue objectively, Saudi Arabia does not need to normalise relations with the occupation state of Israel after the collapse of the Iranian axis in the region, the end of Tehran’s influence in Syria in particular and its significant decline in Lebanon. The US and other right-wing Zionist lobbies that were pushing Saudi Arabia to normalisation no longer have an argument to continue to do so. These lobbies, successive US administrations, Netanyahu and Israeli governments are the ones begging for normalisation with Saudi Arabia, because all would benefit from it, but the biggest loser would be Saudi Arabia itself. However, policy and statements issued by Riyadh, especially in the wake of the crazy statements by the man in the White House, all indicate a firmness in the Saudi position that has strengthened the Arab position as a whole, whether about calling for the displacement of Palestinians from Gaza, or on the issue of the Palestinian state.
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AI chip startup Groq secures $1.5 billion commitment from Saudi Arabia
The startup has an existing agreement with Aramco Digital, the technology subsidiary of oil major Aramco, through which the companies built a critical AI hub in the region in December. Groq told Reuters it will receive funds over the course of this year to expand its existing data center in Dammam. The company's chips, which specialize in fast responses from chatbots and other large language models, are subject to U.S. export controls, but Groq said it has obtained the licenses it needs to ship them to Dammam.
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UAE and Saudi Arabia Lead Middle East Energy Transition
The Middle East and North Africa (MENA) region has long been at the center of the global energy universe, with national oil companies (NOCs) and their predecessors charged with developing vast oil and gas resources for nearly a century. While the region will undoubtedly remain a dominant player in traditional oil and gas spheres for the foreseeable future, several key countries and NOCs are strategically positioning themselves to become key hubs and global leaders in new emerging energy markets. The result is an increasing divergence between the strategies of NOCs in the more forward-leaning countries, led by the UAE and Saudi Arabia, and, on a more regional level, Oman, and the more traditional petrostates, such as Kuwait and Qatar, where NOCs are primary focused on delivering operational results and revenues to the state.
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