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Recent stories from sustg
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Princess Reema represents Saudi Arabia at Trump inauguration ceremony
- January 21,2025
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- SUSTG Team
Princess Reema bint Bandar, Riyadh’s ambassador to Washington, represented Saudi Arabia at the inauguration of US President Donald Trump.
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Saudi driver Yazeed Al-Rajhi wins Dakar Rally!
- January 20,2025
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- SUSTG Team
Yazeed Al Rajhi has won the 2025 Dakar Rally in the car category becoming the first Saudi overall champion ever in the world’s preeminent rally race.
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Future Minerals Forum wraps in Riyadh
- January 17,2025
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- SUSTG Team
The fourth Future Minerals Forum, hosting government representatives from 90 countries, including 16 G20 nations, ran from January 14 to January 16 at the King Abdulaziz International Conference Center in Riyadh.
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Tesla to enter Saudi Arabia this quarter
- January 16,2025
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- SUSTG Team
Writing for Arabian Gulf Business Insight, Megha Merani reports that Tesla is set to launch in Saudi Arabia within months.
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KAUST develops technique to extract lithium from seawater
- January 15,2025
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- SUSTG Team
A recent study by scientists at King Abdullah University of Science and Technology (KAUST), published in the journal Science, developed a new technology for directly extracting lithium from brine in oil fields and seawater, where lithium is present in extremely low concentrations.
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‘Golden Handshake’ initiative to launch in effort to boost government efficiency
- January 14,2025
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- SUSTG Team
Saudi Arabia is planning to offer cash incentives to encourage public sector employees who meet certain criteria to resign.
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Ministers from 17 countries meet in Riyadh for talks on Syria
- January 13,2025
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- SUSTG Team
The Riyadh meeting on Syria was attended by representatives of a number of countries from the Middle East and beyond, including Syria, Jordan, Lebanon, and Turkiye, as well as the UK and US. Officials from the GCC, EU and UN also took part.
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Alat and Lenovo complete a $2 billion investment and collaboration agreement
- January 10,2025
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- SUSTG Team
Lenovo, the world’s biggest maker of personal computers, will issue $2 billion in convertible bonds to Saudi Arabia’s PIF as part of a broad investment agreement that will include a new PC and server manufacturing plant.
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Jeddah to host Formula E World Championship for first time
- January 9,2025
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- SUSTG Team
After six seasons in Diriyah the Formula E World Championship will be held in Jeddah February 14 and 15.
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Saudi Deep Tech ecosystem
- January 8,2025
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- SUSTG Team
Saudi Arabia’s Ministry of Communications and Information Technology, in partnership with King Abdullah University of Science and Technology (KAUST) and Hello Tomorrow, has published a report on the Kingdom’s deep tech ecosystem.
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MUST-READS
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STC to launch three new data centres in Saudi Arabia
STC will launch three mega data centres in Riyadh, Jeddah and Al-Madina, with SAR 1bn (USD 266.5m) investment. The Kingdom’s telco operator aims to host telecommunications equipment and digital cloud infrastructure, offering higher availability, more flexibility and faster time to the customer.
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STC to invest up to $500 mln in cloud services with partners
Saudi Telecom Company (STC) will invest up to $500 million over five years in cloud services in partnership with eWTP Arabia Capital fund and Alibaba Cloud company, STC said in a tweet on Monday.
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Saudi regulator fines Saudi Telecom (STC) 10 million riyals
Saudi Arabia’s general authority for competition (GAC) on Monday fined Saudi Telecom Company (STC) 10 million Saudi riyals ($2.67 million), state TV said. The authority said the fine was a result of the company “abusing its dominant position”, state TV reported.
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Vodafone ends talks to sell Egypt stake to Saudi STC
STC, the kingdom’s biggest telecom operator, had struck a preliminary deal in January to buy the stake for $2.4 billion, as it sought growth in the Arab world’s most populous nation.
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Mutual concessions pave the way for STC, Yemen government implementing Riyadh Agreement
In a statement to The Arab Weekly, the deputy head of the STC’s media department, Mansour Saleh, said, “The council considers the serious direct implementation of the agreement a great achievement that enhances the security situation and completes the implementation of what was agreed upon in Riyadh under Saudi auspices.”
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Saudi Arabia’s STC Pay eyes rapid Gulf expansion
Saudi Arabia’s STC Pay plans to expand its financial services offering across the Gulf region, after achieving a billion-dollar “unicorn” valuation on the back of a deal with Western Union. “We are very proud of becoming the first unicorn in the Kingdom and the first fintech unicorn in the Middle East,” STC Pay CEO Ahmed Alenazi told CNBC in an exclusive interview on Monday.
- Saudi Arabia’s STC hires banks for IPO of subsidiary, sources say
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Saudi CMA Approves Investcorp-backed Theeb Rent a Car’s IPO; Offloading 30% Stake
Founded in 1991, Theeb primarily serves individual customers with short-term rental service. It operates a fleet of over 19,000 vehicles with a network of branches across the Kingdom, including presence at airports.
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Saudi Arabia’s STC asks banks to pitch for subsidiary IPO: sources
The company’s valuation could be around 9 billion riyals ($2.4 billion), if it garners 18-20 times its earnings multiples, one of the sources said. The IPO size could be around $500 million if the company sells 20%, the source said.
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Vodafone Remains in Talks to Sell Stake in Egypt Unit to Saudi Arabia’s STC
Vodafone Group Plc said it remains in talks to sell its Egyptian business to Saudi Telecom Co. after failing to finalize the terms before a deadline. Vodafone “remains in discussions with Saudi Telecom to finalize the transaction in the near future,” and “now looks to Saudi Telecom and Telecom Egypt to find a suitable agreement to enable the transaction to close,” the U.K.-based mobile carrier said in a statement.
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