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Global migration trends, big cat conservation in Saudi Arabia, the new Saudi companies law and more!
- August 26,2022
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- SUSTG Team
Episode 59! The hosts talk about a newly-released and interesting UN report on global migration trends, big cat and other endangered species conservation in Saudi Arabia, and much more in the program’s finishing Yallah! segment. Programming note: The 966 will return next week with a featured interview, then be back in full swing as September […]
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Saudi Arabia’s Non-Oil Exports Surge by 31% in Q2 to $23 Billion
- August 25,2022
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- SUSTG Team
Saudi Arabia’s non-oil exports surged by 31 percent in the second quarter to SR86.2 billion ($22.9 billion) from SR65.8 billion in the same period last year, the General Authority for Statistics, also known as GASTAT, said in a report.
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SAMA Licenses Two More Fintech Companies, Bringing Total to 38
- August 24,2022
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- SUSTG Team
The Saudi Central Bank, also known as the Saudi Arabian Monetary Agency (SAMA), announced on its website that it has granted permits to two companies to provide open banking solutions, bringing the total number of permitted Fintech companies operating under its Regulatory Sandbox to 38.
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Saudi Arabia’s Energy Minister Says Paper and Physical Oil Markets ‘Have Become Increasingly More Disconnected’
- August 23,2022
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- SUSTG Team
Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said “extreme” volatility and lack of liquidity mean the futures market is increasingly disconnected from fundamentals, and as a result, OPEC+ may be forced to cut production to balance the market, Bloomberg reports.
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C3 US-Arab Healthcare and Business Summit Set for September 19th, 2022 at Union League Club in New York City
- August 22,2022
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- SUSTG Team
The C3 US-Arab Healthcare and Business Summit, a leading conference in the sector now in its 11th Annual edition, is set to take place September 19th, 2022 at the Union League Club in New York City.
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Deputy Minister of Investment for Saudi Arabia Dr. Saad Alshahrani joins The 966, The IMF’s report on Saudi’s economy, and much more
- August 19,2022
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- SUSTG Team
Episode 58! Dr. Saad Alshahrani, Deputy Minister for economic affairs and investment studies at Saudi Arabia’s Ministry of Investment joins The 966 to talk about the Saudi economy, investment opportunities, and reforms in the Kingdom. Dr. Saad also shares his story of studying in the U.S. and journey to becoming a deputy minister. Before the […]
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PIF Returns to Buy-Low Playbook with 2Q Stock Market Buying Spree
- August 18,2022
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) bought shares in Alphabet, Zoom Video, and Microsoft this week as part of a wider pick of U.S. stocks, bringing the market value of the sovereign wealth fund’s investment portfolio to about $40.8 billion at the end of the second quarter, Reuters reports.
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IMF: Saudi Economy Likely to be One of the Fastest Growing in the World in 2022
- August 17,2022
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- SUSTG Team
The International Monetary Fund (IMF) on Wednesday maintained its economic growth forecast for Saudi Arabia at 7.6% this year, bucking the global trend toward recession and likely placing it among the top growing economies in the world in 2022.
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Report: Israeli Energy Companies Create JV for Saudi, Gulf Push
- August 16,2022
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- SUSTG Team
Israeli companies Enlight Renewable Energy Ltd. and natural gas producer NewMed Energy LP plan to jointly develop renewable energy projects in North Africa and the Middle East, including in Saudi Arabia and Oman, Bloomberg reports.
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The music industry in Saudi Arabia and more with Ahmed Shawly and Mostafa Fahmy from Jeddah’s ‘Wall of Sound’ Record Label
- August 12,2022
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- SUSTG Team
Episode 56! The 966 welcomes Ahmed Shawly and Mostafa Fahmy from the Jeddah-based Wall of Sound record label and recording studio to talk about the young and growing music industry in Saudi Arabia, their entrepreneurial journey building the business from the ground up in a new industry with a blend of established and new, indie […]
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MUST-READS
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Saudi Arabia’s defenses thwart new Houthi attacks
Earlier on Monday, the Kingdom’s Ministry of Defense said air defenses intercepted and destroyed a “hostile aerial target” launched toward the city of Taif. “The aerial threat was launched by the Houthi militia from inside Yemen,” the ministry said, adding: “We are taking deterrent operational measures to neutralize the threat and protect civilians.”
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2022 Look Ahead: Saudi Arabia’s booming entertainment sector is just getting started
Five years on, the thirst for entertainment in Saudi Arabia is plain to see. In the space of just two months, up to 8 million people have taken part in Riyadh Season 2021 — a cultural extravaganza that was unheard of just half a decade ago.
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Foreign Investment Into Saudi Arabia Falls Back To Earth
The latest figures from the Saudi Central Bank (Sama), released this week, show inward foreign direct investment (FDI) into the country was $1.75 billion in the third quarter of 2021. That was a sharp fall from the record figure of $13.8 billion in the April-June quarter, which had been boosted by a deal for the pipeline network of energy giant Saudi Aramco.
- Spring migration in Saudi Arabia, part one – BirdGuides
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With Rappers, Race Cars and Raves, Saudi Arabia Learns How to Party
This conservative Islamic kingdom is rapidly trying to ease its staid social norms, allowing women to drive and travel freely in recent years, opening doors to tourists and tolerating music blaring from modern coffee shops. Now: Dance parties in the desert. A four-day music festival earlier this month is emblematic of how Saudis are learning to have fun in ways that are common in much of the world but long forbidden here. The festival—called Soundstorm and organized by a Saudi company called MDLBeast (pronounced Middle Beast)—featured 200 performances, including from big-name DJs such as David Guetta.
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PIF’s $40bln investment plan to boost growth of startups in Saudi Arabia
Saudi Arabia continues to focus on efforts to spur the growth of startups in the Kingdom to help boost the national economy, as is evident from the recently announced Saudi budget 2022. According to Saudi Finance Minister Mohammed Al-Jadaan, the MENA region’s largest economy is expected to post a surplus of SR27 billion in 2023 and SR42 billion in 2024.
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Saudi Arabia starts giving Covid-19 vaccines to children aged 5-11
Saudi Arabia announced on Tuesday that children in the age group of 5-11 will now be able to receive their first dose of COVID-19 vaccines. The Ministry of Health noted in a statement that the priority of receiving the shots will be giving for those children at high-risk and have more susceptible from the virus' complications.
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Project for Surveying Bedrock in Saudi Arabia has Started
The Geological Survey of Finland (GTK) is taking part in an international consortium for surveying bedrock in Saudi Arabia in collaboration with the Saudi Geological Survey (SGS). One part of the six-year project was published this December. The updated version of the geological database portal offers some materials to be downloaded for free.
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Saudi Arabia’s First Contemporary Art Biennale Kicks Off Arts and Culture Programme
As part of this partnership, DGDA will support on several aspects of the Biennale including the volunteer program, artwork commissions in At-Turaif, school trips to the Biennale and workshops. These elements are meticulously designed to invite both local communities and international cultural consumers to an inclusive experience.
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Saudi Arabia’s start-ups record best ever quarter for fund-raising in Q3, Magnitt says
Start-ups in Saudi Arabia recorded their best ever quarter for fund-raising in the three months ending September 30, attracting $205 million in 34 deals, according to data platform Magnitt. Venture capital investments in start-ups in the kingdom more than quadrupled in the third quarter of 2021, compared with the same period last year, according to the Q3 KSA Venture Investment Report compiled in cooperation with the Saudi Venture Capital Company.
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