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Saudi Arabia Sees a Boom in the Kingdom’s Freelancer Workforce
- August 23,2021
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- SUSTG Team
The number of freelance workers in Saudi Arabia is growing quickly as the Kingdom’s economy continues to recover from the pandemic, according to fresh data from the Ministry of Human Resources and Social Development.
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Kingdom’s Sights Remain on Renewables as Energy Ministry Allocates Land Plots for Solar
- August 20,2021
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- SUSTG Team
Saudi Arabia’s Ministry of Energy is building two renewable energy plants on land plots with a total area of 12 million square meters (4.6 square miles) to generate 600mw of energy, according to Zawya via the Saudi Press Agency. The two announced plans fit into the Kingdom’s ongoing solar and renewable power ambitions. Saudi Arabia […]
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Cementing End of Rift, Qatar Appoints Ambassador to Saudi Arabia
- August 12,2021
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- SUSTG Team
Qatar’s Emir Sheikh Tamim bin Hamad al-Thani on Wednesday named an ambassador to Saudi Arabia, just weeks after the Kingdom named Prince Mansour bin Khalid bin Farhan to serve as the Saudi ambassador to Qatar.
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Fintech Saudi Releases National Fintech Adoption Survey Results in 5 Areas
- August 10,2021
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- SUSTG Team
Fintech Saudi, an initiative launched by the Saudi Central Bank (SAMA) in partnership with the Capital Market Authority (CMA), has announced the results of the National Fintech Adoption Survey, a first of its kind measurement in Saudi Arabia of the people’s interest in adopting fintech solutions.
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Saudi Aramco Posts Nearly 300% Jump in 2Q Profit on Soaring Energy Demand Recovery
- August 9,2021
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- SUSTG Team
Saudi Aramco generated a net income of $25.5 billion in the second quarter of 2021, beating expectations and boosting the company’s earnings to nearly quadruple its earnings from the same quarter last year. The income was a 288% increase in net income for the second quarter, and the company maintained its dividend of $18.8 billion.
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SABIC’s Profit Surges in 2Q Amid Booming Demand for Petrochemical Products
- August 5,2021
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- SUSTG Team
Saudi-based petrochemicals giant SABIC hit a $2 billion quarterly profit in the second quarter of this year as a healthy global demand for its products drove sales, according to reports. SABIC also said it expects this solid performance to continue in the second half of 2021, “backed by healthy demand and rising oil prices,” according to Reuters.
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Jadwa Chartbook: Oil Prices Continue Climb for Third Straight Month, Benefitting Saudi Economy
- August 2,2021
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- SUSTG Team
A third straight monthly gain for oil is benefitting the Saudi economy, as SAMA FX reserves rose in June by $8.8 billion month-on-month and the non-oil PMI was unchanged at 56.4, indicating continued growth, a recently-released monthly Chartbook by Jadwa Investment for the month of June notes.
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Saudi PPP to Invest $15 Billion in New Technology Fund – Report
- July 29,2021
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- SUSTG Team
A Saudi public-private partnership will launch a $15 billion technology fund “to advance the digital infrastructure in the Kingdom,” a report in Arab News said, based on an announcement at a conference in Riyadh on Wednesday.
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Ivory Coast beat Saudi Arabia 2-1 in Kingdom’s Olympic Soccer Opener
- July 22,2021
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- SUSTG Team
The Ivory Coast beat Saudi Arabia 2-1 in the Kingdom’s opening Olympic soccer match on Thursday in Yokohama, Japan. Ivory Coast’s Franck Kessie scored the go-ahead goal in the 66th minute in a disappointing start for the Kingdom’s Tokyo dreams. On the Saudi side, Salem Al-Dossari scored the Kingdom’s lone goal in the match.
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Saudi Startups Raise Over $250m So Far in 2021, Report Says
- July 19,2021
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- SUSTG Team
Dubai-based research platform Magnitt says Saudi Arabian startups raised more than a quarter of a billion dollars in venture capital (VC) funding during the first half of 2021, as the Kingdom looks to continue to develop entrepreneurship within its borders. Magnitt says that VC funding in MENA increased by 12% from FY’20, “marking a quarterly […]
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MUST-READS
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Saudi Real Estate Refinance issues $533mln sukuk
The 10-year sukuk was issued at a fixed profit rate of 3.04% marketed to Saudi institutional investors, the deal was oversubscribed 2.5 times
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Mukesh Ambani explains why data is better than oil
“It (data) has the potential to create value equitably, across sectors, across geographies and across economic classes. Every person can be a user, creator and owner of data. Therefore, the new oil has been completely democratised and decentralised,” the businessman explained.
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How to watch Saudi Arabian Grand Prix 2021: UK start time, live stream, TV channel, standings and F1 schedule
With four races to go Verstappen held a 19-point lead, but Hamilton – having already overcome a 32-point deficit earlier in the season to temporarily move in front of his Red Bull rival – has since reduced the gap to just eight points thanks to wins in Brazil and Qatar.
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MENA’s largest solar panel factory opens in Tabuk to serve NEOM, TRSDC
It is strategically located near the Kingdom’s giga projects in NEOM and the Red Sea, and the region also has plenty of qualified locals to work in the various jobs needed by the facility, Deputy Minister of Industry and Mineral Resources Osama Al-Zamil said.
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Saudi Arabia, UAE, UK, US urge return of Sudan civilian-led rule
The US has led condemnation of the military’s takeover of power on October 25 that interrupted a fragile transition to democracy in which power was shared with a civilian government led by Prime Minister Abdalla Hamdok, who was initially detained and then placed under house arrest. Washington immediately froze $700m in economic support that was in the pipeline for Sudan.
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Saudi Arabia signs direct investment pact with UK in ‘next step’ for green initiatives
Saudi Arabia and the UK signed a pact to promote direct investment between the two nations on Thursday, with the agreement marking the next step in Saudi-UK relations as they embark on ambitious projects in the road to net zero.
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Biden administration issues sharpest rebuke yet to Israel over settlements
The United States on Tuesday said it strongly opposed Israel's plans for Jewish settlement expansion in the occupied West Bank as damaging for peace prospects between Israelis and Palestinians, in the Biden administration's harshest public criticism of Israeli settlement policy to date.
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Less than a third of UK public would support a Saudi Arabia trade deal
Truss is on a trip to the Gulf, where a government spokesperson said she would discuss “Afghanistan, regional security, climate change and trade”.
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Saudi Arabia issues $2.27bn in domestic sukuk
The Islamic bonds were split into two tranches: SR3.905 billion due in 2029, and another of SR4.595 billion due in 2033.
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Saudi cabinet renews calls for nukes-free Middle East
It also affirmed the Kingdom’s statement at the meetings of the Executive Council of the Organization for the Prohibition of Chemical Weapons, of the great attention it attaches to the Convention on the Prohibition of Chemical Weapons, the importance of its objectives, and its role in strengthening international peace and security.
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