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  • China’s solar, wind power installations soared to record in 2024

    China broke its own records for new wind and solar power installations again last year, official data showed on Tuesday, accelerating from a breakneck pace set in 2023 as the country looks to peak its carbon emissions before 2030. Installed solar and wind power capacity climbed 45.2% and 18%, respectively, in 2024, the National Energy Administration said on Tuesday. There is now 886.67 GW of installed solar power, up from 609.49 GW in 2023, it said. The United States had 139 GW in 2023, according to the International Renewable Energy Agency.

  • Saudi Arabia – Unlocking the future through industrial incentives?

    The Kingdom of Saudi Arabia (KSA) continues to develop and promote initiatives to modernize and accelerate its economy and attract international investment. Align with this goal, on 11 January 2025, government entities in the KSA announced funding of SAR10 billion (£2.19 billion) for the Standard Incentives Programme to activate and support the industrial sector. The Standard Incentives Programme offers funding of up to 35% of the initial project investment (capped at SAR50 million for each qualifying project). The support is divided evenly across the project lifecycle, granting 50% during the construction phase and 50% during the production phase. This programme is initially offered to investments in transformative chemical industries, automotive manufacturing and parts, and machinery and equipment. Further successive phases of funding will be announced throughout 2025. The focus of this programme is to develop the manufacturing of products not currently produced in the KSA and develop national resources and talent.

  • Saudi Arabia advances FinTech goals with Google Pay integration

    The Saudi Central Bank (SAMA) has partnered with Google to introduce Google Pay in Saudi Arabia through the national payment system “mada,” with the service set to launch in 2025. This collaboration is part of SAMA’s strategic efforts to enhance the Kingdom’s digital payments ecosystem in line with Saudi Vision 2030, according to FF News. By introducing advanced digital payment solutions, SAMA aims to reduce cash dependency, foster financial innovation, and establish a world-class infrastructure that aligns with global standards.

  • Saudi real estate prices up 3.6% in Q4

    Real estate prices in Saudi Arabia are trending upwards, with increases to residential, commercial and agricultural property prices in Q4 2024, according to the General Authority for Statistics (GASTAT).  GASTAT has released the Real Estate Price Index report for Q4 2024, showing a 3.6 per cent increase compared to Q4 2023, driven by: 3.1 per cent rise in residential property prices; 5 per cent increase in commercial property prices; 2.8 per cent rise in agricultural property prices

  • 60% surge in commercial registrations in 2024

    The Ministry of Commerce has reported a 60 percent increase in the issuance of commercial registrations in 2024 compared to 2023. According to the ministry’s report, 521,969 commercial registrations have been issued in 2024, compared to 368,038 in 2023. These included 368,038 registrations for establishments and 153,931 for companies. The registrations covered various economic sectors, with wholesale and retail trade, construction, accommodation and food services, and manufacturing industries leading the list. By the end of 2024, the total number of active commercial registrations across all regions of Saudi Arabia reached 1,606,169, the report pointed out.

  • Majority of UAE and Saudi Arabia professionals plan to switch jobs this year, LinkedIn says

    Three quarters of working professionals in the UAE and Saudi Arabia plan to look for a new job this year as they seek a better work-life balance and higher salaries, a new global poll of 22,010 employees by professional network LinkedIn has found. Professionals in marketing, education, finance, sales and media are most keen to look for new opportunities, while only 50 per cent of healthcare professionals are seeking new positions. However, more than half (51 per cent) said the job search became harder last year as the UAE recorded an influx of talent leading to a competitive job market, according to the survey.

  • KKR and Gulf Data Hub Form Strategic Partnership to Scale One of the Middle East’s Largest Independent Data Center Platforms

    Gulf Data Hub (“GDH” or the “Company”), one of the largest independent data center platforms in the Middle East focused on serving hyperscale demand across the Gulf countries, and KKR, a leading global investment firm, today announced that funds affiliated with KKR will acquire a stake in GDH. The investment, which is subject to customary regulatory approvals, is being made through KKR’s Global Infrastructure strategy. Established in 2012 and headquartered in Dubai, GDH, is one of the largest independent carrier and vendor neutral data center platforms in the Middle East with significant operating capacity and pipeline of projects. With an owned portfolio of seven purpose-built and state-of-the art data centers in the UAE and Saudi Arabia, and additional facilities planned in Kuwait, Qatar, Bahrain and Oman, GDH is focused on delivering the infrastructure required to meet hyperscale demand across the region to support increasing data consumption driven by the growing trends in digital connectivity, cloud and artificial intelligence.

  • Saudi economy minister gives insights on Kingdom’s role in global growth, innovation

    In this Special Interview with Saudi Arabia’s Minister of Economy and Planning Faisal Alibrahim on Al Arabiya News, the discussion focuses on the pivotal role of the Kingdom’s economic health in ensuring regional stability. The minister highlights Vision 2030’s transformative initiatives to diversify the economy, foster global partnerships, and strengthen the private sector.

  • Hamas frees hostages, Israel releases Palestinian prisoners on day one of ceasefire

    Hamas released three Israeli hostages and Israel released 90 Palestinian prisoners on Sunday, the first day of a ceasefire suspending a 15-month-old war that has devastated the Gaza Strip and inflamed the Middle East. The truce allowed Palestinians to return to bombed-out neighborhoods to begin rebuilding their lives, while relief trucks delivered much-needed aid. Elsewhere in Gaza, crowds cheered Hamas fighters who emerged from hiding. Fireworks were launched in celebration as buses carrying the Palestinian prisoners arrived in Ramallah on the West Bank, where thousands of people waited to welcome them. Those freed from Israeli prisons included 69 women and 21 teenage boys from the West Bank and Jerusalem, according to Hamas.

  • New Honeywell centre cements Saudi Arabia’s position in global cybersecurity market

    Honeywell recently launched a new centre in Saudi Arabia’s Jubail to provide localised cybersecurity services for critical industrial sectors in the Kingdom, according to a press release. Honeywell Himaya Center, which was announced at the In-Kingdom Total Value Add (iktva) Forum and Exhibition 2025 in Dhahran, will support Saudi Arabia’s digital transformation and strengthen its position as a key player in the global cybersecurity market.