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The 966 – Episode 6: A Multi-Billion Dollar EV Investment in Saudi Arabia, Power Demand in the Kingdom, and Economic Free Zones?
- October 15,2021
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- SUSTG Team
In episode 6 this week, the hosts discuss an Australian company that is making a big bet on electric vehicles in Saudi Arabia with a massive mining investment, the use of power in Saudi Arabia flattens out, and the Kingdom explores the possibility of economic free zones to attract foreign investment in Saudi.
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Saudi FM Prince Faisal bin Farhan, Ambassador Reema bint Bandar Meet with Secretary of State Blinken in Washington
- October 15,2021
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- SUSTG Team
Saudi Foreign Minister Prince Faisal bin Farhan Al Saud and Saudi Ambassador to the United States Princess Reema Bint Bandar Al-Saud met with U.S. Secretary of State Antony Blinken in Washington on Thursday, and “exchanged views on Iran’s nuclear program and international talks on the matter,” according to a statement from Saudi Arabia’s foreign ministry […]
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An Interview with the IMF’s Abdullah Hassan, Former Sous-Sherpa for Saudi Arabia for the G20 Meetings
- October 14,2021
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- SUSTG Team
In 2020, Saudi Arabia became the first Arab nation to assume the G20 presidency. Hosting the G20 is a massive undertaking, involving close to two years of event planning, policy development and strategy, and much more.
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Saudi Arabia’s Nayifat Finance Company Latest to Announce IPO Plans on Surging Tadawul
- October 13,2021
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- SUSTG Team
Saudi Arabia’s Nayifat Finance Company said on Tuesday it plans an initial public offering (IPO) on the Riyadh stock exchange with a free float of 35% of its shares, according to a Reuters report. Nayifat, a consumer-focused Islamic finance firm, said in a statement that it plans a sale of 35 million shares to institutional […]
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Crown Prince Announces Launch of New National Investment Strategy to Attract FDI
- October 12,2021
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- SUSTG Team
Saudi Crown Prince Mohammed bin Salman gave details of a new investment strategy, called the National Investment Strategy, on Monday that aims to raise net foreign direct investment to 388 billon riyals ($103.45 billion) annually, the state news agency (SPA) reported.
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U.S. State Department Condemns ‘Outrageous’ Attack by Houthi Forces on King Abdullah Airport in Jazan
- October 11,2021
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- SUSTG Team
The U.S. State Department joined a chorus of other nations in condemning Friday’s attack by the Iran-backed Houthi group on King Abdullah Airport in Jazan, Saudi Arabia that wounded 10. The attack injured both passengers and airport staff when an explosives-laden drone hit King Abdullah Airport on Friday. According to Arab News, the injured included six […]
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Introducing The 966 – A New Show from the SUSTG Team Discussing All Things Saudi Arabia
- October 8,2021
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- SUSTG Team
The SUSTG Team launched a new podcast and show, The 966, and will be publishing weekly updates and exclusive interviews and conversations with Saudi business leaders, officials, newsmakers and others. Episodes are available on the show’s website, 966.transistor.fm, and on Apple Podcasts, Spotify, YouTube, and several other platforms.
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Premiere League Set to Give Saudi Green Light for Newcastle Takeover
- October 7,2021
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- SUSTG Team
Saudi Arabia’s PIF has cleared a significant hurdle in its quest to acquire a reported 80 percent stake in Newcastle United, according to reports.
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Saudi Arabia Adjusts Fiscal Outlook for 2022, Jadwa Investment Sees ‘Conservative’ Approach by Saudi Ministry of Finance
- October 4,2021
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- SUSTG Team
Saudi authorities released a preliminary budget statement for the 2022 fiscal year on 30th September 2021, and some fiscal and economic indicators were revised for the medium term. According to a report and analysis by Jadwa Investment, the main adjustment to Saudi Arabia’s fiscal outlook “relates to government revenue, with the upward revision to revenue from 2022 […]
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Mashable Review: ‘The Lucid Air is the Future of Cars’
- October 1,2021
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- SUSTG Team
Lucid Group, Inc., the electric car maker backed by Saudi Arabia’s Public Investment Fund (PIF), recently gave a sneak peak of its forthcoming Lucid Air Dream Edition to a small group of media representatives at its main factory in Casa Grande, Arizona. One of those media people, Chris Taylor from Mashable, gave the car a […]
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MUST-READS
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Nelly in ArabiaRapper Nelly’s Planned Saudi Gig Sparks Social Media Stir
Rapper Nelly is to perform in Saudi Arabia next month, but his planned concert in the ultraconservative kingdom is not being welcomed by everyone. Some Saudis on social media are pointing to the American rapper's 2015 guilty plea for possession of marijuana. Smuggling drugs is punishable by death in Saudi Arabia and possession of drugs is also a crime.
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Technology InvestmentSaudi Arabia Gave Richard Branson $1 Billion to Go to Space
Saudi Arabia may be poised to become a world leader in commercial space travel.
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Virgin GalacticSaudi Arabia to invest $1bn in Virgin space companies
The investment, which will need US regulatory approval, will see the Public Investment Fund of Saudi Arabia take a significant stake in the three Virgin space companies. However, Branson said Virgin would remain the majority shareholder and the firms would continue to be based in southern California and New Mexico.
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U.S.-Saudi Military SalesUSAF Selects S&K Aerospace for $559M Saudi F-15 Aircraft Program Support
S&K Aerospace has won a potential $559 million contract from the U.S. Air Force to support an F-15 fighter aircraft program of Saudi Arabia’s air force.
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Qatar DisputePhone Call to Ease Saudi-Qatar Spat Causes New Problem
But shortly after the statement, the kingdom dismissed Qatar’s claim that U.S. President Donald Trump helped coordinate the call and said it will suspend talks until a clarification is issued. “The call was at the request of Qatar to discuss its desire to talk to the four countries about their demands,” SPA reported.
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Saudi American Public Relation Affairs CommitteeKey pro-Saudi player in Gulf spat registers as foreign agent
A U.S.-based nonprofit that has been running a sprawling media campaign against Qatar as part of an ongoing feud among Persian Gulf countries has now registered with the Justice Department as a foreign agent.
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Iranian AirspaceIran closes airspace for US, Saudi aircraft
Iran has banned US aircraft – including commercial airlines – from entering its airspace, Iranian FARS news agency reports quoting Commander of Khatam ol-Anbia Air Defense Base Brigadier General Farzad Esmayeeli. All US aircraft flying above Iran, will be met with a warning from the Islamic Republic’s air defense base.
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Industry AttitudesMovie and Energy Industries Spawn Most-Polarized Views
At a time when partisan differences abound in American public opinion, Gallup finds the images of U.S. businesses and industries are not immune: There is a significant difference in how Republicans and Democrats rate nine of 25 business and industry sectors in the United States. The movie and oil and gas industries generate the most polarized reviews, with Democrats much more positive about the movie industry and Republicans much more positive about oil and gas.
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MashupSaudis in 2 different cities release a ‘Despacito-Awafi’ mashup … and it’s epic
Mojo, who is based in Jeddah, recently teamed up with Riyadh-based singer Jean Al Shehri. In just 48 hours, the two released a mashup of the two most viral songs of 2017: 'Awafi,' an Arabic song released by Saudi comedian Mohamed Abu Hamdan, and the Spanish record-breaking song 'Despacito'.
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Law and OrderCat Killer Sparks Internet Craze, Police Investigation in Saudi Arabia
Saudi Arabia’s Ministry of Environment, Water and Agriculture released a statement Wednesday saying it was working with local security services in pursuing a man suspected of shooting and killing cats in the coastal city of Jeddah.
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