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Middle East KFC Operator, Americana, Sees Successful Debut in First Dual Listing in the Gulf
- December 13,2022
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- SUSTG Team
The Middle Eastern operator of KFC and Pizza Hut outlets, Americana Restaurants International Plc, climbed in its debut after raising $1.8 billion in an initial public offering, pulling off the first-ever dual listing in Riyadh and Abu Dhabi, Bloomberg reports.
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Saudi Arabia’s PIF Buys 9.5 Percent Stake in German Renewables firm Skyborn
- December 12,2022
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- SUSTG Team
Saudi Arabia’s Public Investment Fund has acquired a 9.5 percent stake in German renewable firm Skyborn Renewables, as the growing sovereign wealth fund of the Kingdom continues to expand with international investments.
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2023 Budget: Saudi Arabia Exceeds Surplus Estimate, Economic Growth Forecasts in Strong Year for Kingdom’s Economy
- December 8,2022
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- SUSTG Team
Saudi Arabia has recorded a budget surplus for 2022 of 102 billion riyals ($27.13 billion), 12 billion riyals ($3 billion) higher than predicted figures, according to reports.
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Adding to Growing List of Natural Treasures, ‘Desert Fish’ Rock Formation Discovered in Al-Ula
- December 7,2022
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- SUSTG Team
The recent discovery of a giant fish-shaped rock emerging from the sands of the Saudi desert near Al-Ula adds to a growing collection of natural wonders in Saudi Arabia.
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Saudi Arabia’s Sindalah Island, Neom’s ‘Yachting Hub’, to Open in 2024 with Golf Course, 40 Restaurants
- December 6,2022
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- SUSTG Team
Saudi Arabia’s Sindalah Island, off the coast of NEOM in Saudi Arabia, will open by 2024 and will include a beach club, yacht club and almost 40 restaurants, new details released about the project yesterday confirm.
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Virginia-Based Bechtel Corp. Wins Contract to Provide Project Management Consultancy Services for NEOM’s TROJENA
- December 5,2022
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- SUSTG Team
Virginia-based Bechtel Corporation has been appointed as the Project Management Consultant for TROJENA, a year-round mountain destination in the NEOM region of northwest Saudi Arabia, the company confirmed in a press release.
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HRH Prince Turki Al-Faisal Al-Saud talks about his father King Faisal’s legacy, the King Faisal Foundation’s decades of work, and U.S.-Saudi relations
- December 2,2022
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- SUSTG Team
An interview and conversation with the legendary HRH Prince Turki Al-Faisal Al-Saud, who joins The 966 to share some stories and his anecdotes about his late father, King Faisal bin Abdulaziz Al-Saud. King Faisal’s death lead his sons to create the King Faisal Foundation to honor his visionary legacy and generous spirit. HRH Prince Turki […]
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Saudi Arabia’s Tourism Ambitions in the Spotlight as WTTC 2022 Global Summit Wraps
- December 1,2022
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- SUSTG Team
Saudi Arabia’s tourism ambitions were in the global spotlight this week as the 22nd World Travel and Tourism Council Global Summit took place in the Saudi capital from November 28th – December 1st.
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Jadwa Chartbook: Saudi Arabia’s Growth Streak Continues with Non-Oil PMI Increasing on ‘Higher New Orders and Business Optimism’
- November 30,2022
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- SUSTG Team
Saudi Arabia’s economy continues its streak of growth with positive data points in key areas like non-oil PMI, consumer spending, and point of sale transactions, according to the latest monthly chartbook released by Jadwa Investment.
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Riyad Capital Sees 2022 Non-Oil Economy Growth in Saudi Arabia at 5.2% in 2022 and 4.3% in 2023
- November 29,2022
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- SUSTG Team
Saudi-based investment bank Riyad Capital said Saudi Arabia’s non-oil economy is projected to grow of 5.2% in 2022 and 4.3% in 2023, Hans Peter Huber, Chief Investment Officer, said in a report.
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MUST-READS
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Saudi EconomyOld habits die hard: Saudi Arabia struggles to end oil addiction
When Saudi Aramco was on the verge of a deal last year to buy a stake in an Indian oil refinery, its boss quickly boarded a company jet in Paris and flew to New Delhi. Chief executive Amin Nasser arrived unannounced early on April 11, 2018, finalised the agreement and signed it later that day. Negotiators had just finished hammering out the details.
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IndiaIndia denies that Trump was invited to mediate Kashmir conflict
Raveesh Kumar, spokesman for India's Ministry of External Affairs, tweeted late Monday that "no such request has been made" by Indian Prime Minister Narendra Modi. Kumar also reiterated that the territorial dispute needs to be resolved bilaterally between India and Pakistan, who have been bitter rivals for decades.
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HajjKing Salman issues directive for Saudi Arabia to host families of Christchurch attack victims during Hajj season
Saudi Arabia will host 200 Hajj pilgrims of families of victims of the terrorist attack in Christchurch, New Zealand on the orders of King Salman, a Saudi Press Agency report said. The attack in March by Brenton Tarrant on two mosques in the city killed 50 people and wounded dozens more.
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Saudi WomenSaudis Plan to Ease Travel Restrictions on Women
Saudi Arabia is planning this year to loosen restrictions on women’s ability to travel without a male guardian’s permission, officials and people familiar with the matter said, a rare step against the system of male domination deeply rooted in Saudi society.
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U.S.-Saudi RelationsSaudi Royals Would Face U.S. Visa Restriction in New Senate Bill
Senate Republicans seeking a way to punish Saudi Arabia over its human rights record without provoking a veto by President Donald Trump are trying a new strategy: denying visas for members of the kingdom’s royal family. Senate Foreign Relations Chairman Jim Risch, an Idaho Republican, plans to unveil legislation on Wednesday that includes a measure to bar members of the royal family who work in the Saudi government from entering the U.S., according to a person familiar with the legislation. If signed into law, hundreds of people could face the restrictions.
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SecuritySaudi security patrols begin in Al-Arda district in Jazan
“this is in accordance with the plan adopted by the Minister of Interior to strengthen security efforts in border areas with specialized forces characterized by a good knowledge of the region’s terrains to help thwart any drug of weapons smuggling attempts and cross-border infiltration attempts.”
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OPEC+OPEC+ Grapples Oil Risks From Trade War to Mideast Conflict
OPEC and its allies look set to stick with their current strategy when they meet next week, renewing a deal to restrain oil supplies to prop up prices. But in a market clouded by uncertainties, they’ll probably also hint at how the policy may change. As oil demand falters amid a global economic slowdown and supplies swell thanks to the U.S. shale boom, the coalition spearheaded by Saudi Arabia and Russia is expected to formally prolong output curbs for another six months.
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IranUnderstanding the restrictions imposed by the Iran nuclear deal
Iran said on Wednesday it will accelerate its enrichment of uranium as of Thursday, a date it has previously suggested could see its stock of enriched uranium exceed a cap imposed by its nuclear deal with major powers.
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U.S.-IranPentagon issues map depicting US drone shot over international waters
At the time of the intercept, “the RQ-4 was operating at high-altitude approximately 34 kilometers from the nearest point of land on the Iranian coast,” Guastella said in a statement Thursday.
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OPEC meetingsOPEC Averts Scheduling Conflict Between Russia, Iran And Saudi Arabia. But Can They Get Along?
OPEC was originally supposed to hold its regular biannual meeting, along with its joint meeting with non-OPEC partner countries, on June 25 and 26. However, less than a month before, Russia’s oil minister, Alexander Novak, suddenly claimed that he had a scheduling conflict. As the largest producer among the non-OPEC partner countries, Russia was important to the meeting. Saudi Arabia backed a rescheduling, but Iran complained that OPEC should not reschedule for a country that is not actually a member of their organization.
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