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Development on AMAALA Pushes Ahead as 300 Contracts Awarded Worth $1.6 Billion to Date
- September 12,2022
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- SUSTG Team
Saudi Arabia’s ultra-luxury tourism project AMAALA has broken ground and has $1.6 billion of contracts currently out to tender across 54 proposals, the project’s developer The Red Sea Development Company (TRSDC) revealed in a press statement.
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Saudi Arabia’s PIF Eyes a Stake in Regional Starbucks Franchise — Report
- September 9,2022
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- admin
Saudi Arabia’s Public Investment Fund is leading a consortium of investors which has emerged as the frontrunner to buy a minority stake in Kuwaiti conglomerate Alshaya Group’s Starbucks Corp. franchise, people familiar with the matter told Bloomberg.
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Saudi GDP Up 12.2% in Second Quarter, Exceeding Initial Estimate, as ‘Boom Spreads Beyond Oil’
- September 7,2022
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- SUSTG Team
Saudi Arabia’s real gross domestic product expanded by 12.2% in the second quarter compared with the same period of 2021, new data revealed on Wednesday, as the Kingdom continues to see growth from high oil prices that is now spreading to the private sector.
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Saudi Arabia’s New Airline ‘RIA’ Reportedly to Launch Soon with $30 Billion to Take On Regional Rivals
- September 1,2022
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- SUSTG Team
Saudi Arabia is in the final stages of launching its multi-billion-dollar new international airline, which sources say is likely to be branded “RIA,” according to an exclusive Arabian Business report.
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Iraq’s Clashes Sends Oil Higher Before Retreat
- August 30,2022
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- SUSTG Team
Oil surged to the biggest gain in six weeks before paring some of those gains after Iraq’s state marketing company said exports haven’t been affected by violent clashes in Baghdad, according to Bloomberg.
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Monsha’at Report — Number of SMEs in Saudi Arabia Grows 25.6% in 1H 2022
- August 29,2022
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- SUSTG Team
Saudi Arabia’s General Authority for Small and Medium Enterprises (Monsha’at) said the number of registered SMEs in Saudi Arabia hit 892,063 in the first half of this year, registering a 25.6 percent increase from the fourth quarter of 2021.
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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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MUST-READS
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Chart: The Countries Pledging the Most Military Aid to Ukraine
As this infographic using data from the Ukraine Support Tracker by the Kiel Institute for the World Economy shows, Poland has been one of Ukraine's most important military aid partners since the war began. In a boost for Kyiv, Ukraine President Zelensky welcomed the news on Thursday that its largest military aid donor, the United States, had committed to sending a further $325 million.
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US approves $500 million sale of spare parts to Saudi military
The Biden administration on Thursday approved a major $500 million sale to fund spare and repair parts for Saudi Arabia’s military. The proposed sale, which the State Department notified to Congress on Thursday, would fund components for Saudi Arabia’s existing Abrams and M-60 tanks, Bradley fighting vehicles, light armored vehicles and Humvees. The proposal would also fund spare and repair parts for rifles and pistols as well as crew-served weapons systems, such as the kingdom’s TOW anti-tank missile launchers, radar sets, recoilless rifles as well as computer units, radar sets and night vision devices, among other equipment.
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Chart: Global Tourism’s Slow Recovery From the Pandemic
There was a combined loss of 2.6 billion international tourist arrivals from 2019 through 2022, according to the UN World Tourism Organization’s latest report. Analysts say this was largely due to global lockdowns, widespread travel restrictions and a slump in visitor demand.
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Saudi Arabia launches largest startup hub in the Middle East
Transforming a former parking structure into a workspace, The Garage offers 24 meeting rooms, an event area capable of accommodating over 1,000 individuals, and dedicated workshop spaces. This transformation began in April 2022 with a mission to empower startups and has since forged partnerships with industry giants such as Google for Startups and the National Center for Information Technology Development.
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Dutch artist’s chocolate sculpture celebrates Saudi hospitality at food trade show in Riyadh
Renowned Dutch artist Anat Ratzabi says her compelling chocolate sculpture on display at the 10th Foodex Saudi Expo in Riyadh celebrates the renowned hospitality of the Kingdom’s people. Ratzabi incorporated elements in the bronzed creation including dates, coffee cups, a coffee pot or Dallah, and the emblem of Saudi Arabia featuring two swords and a palm tree. Ratzabi was invited to participate in the Chocolate Art Salon at the exhibition, which concluded on Wednesday at the Riyadh International Convention and Exhibition Center.
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The Garage: Saudi Arabia officially unveils largest startup hub in the Middle East
Saudi Arabia officially unveiled "The Garage," its latest addition to the thriving startup ecosystem on Monday. Situated within the King Abdulaziz City for Science and Technology in Riyadh, The Garage spans an impressive 28,000 square meters, earning the title of the largest innovation district in the Middle East. The transformation of a former parking structure into a bustling workspace has given rise to this innovation hub, accommodating more than 300 startup companies. The facility boasts 24 state-of-the-art meeting rooms, an expansive event space capable of hosting over 1,000 individuals, and dedicated workshop areas.
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Saudi FM takes part in joint Gulf-British ministerial meeting
Saudi Foreign Minister Prince Faisal bin Farhan took part in a joint Gulf-British ministerial meeting in New York on Monday, Saudi Press Agency reported. Prince Faisal was joined at the meeting by ministers of the Gulf Cooperation Council (GCC) countries, as well as the British Foreign Secretary James Cleverly on the sidelines of the 78th United Nations General Assembly.
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Chart: Who’s in the Champions League ‘Group of Death’?
Comprising PSG, Newcastle United, AC Milan and Borussia Dortmund, when Group F was announced, it was clear that this was the one: The one which even the experts would struggle to predict who is going to get out alive. Using squad value data from Transfermarkt, Statista has been able to quantify the extent to which Group F can be considered the ‘group of death’. While there are other less quantifiable factors to consider aside from value, the numbers certainly do support the initial fan and media reaction.
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Skylines of 13 Saudi cities will witness aerobatic displays as part of National Day celebrations
Skylines of 13 cities across the Kingdom will witness aerobatics carried out by the Royal Saudi Air Force as the country celebrates its 93rd National Day this week. The Ministry of Defense will participate in a variety of events and activities, most notably air and naval shows. The ministry announced the dates and locations of the shows that will be participated by Typhoon, F-15S, Tornado, and F-15C aircraft belonging to the Royal Saudi Air Force. The capital city of Riyadh will witness performances on two days, Sept. 22 and 23, at 4:30 p.m., at Umm Ajlan Park, north of Prince Turki Bin Abdulaziz Road in Al-Qayrawan district.
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After the Earthquake in Morocco, Tourists Grapple With the Ethics of Travel
The series of catastrophic events has left many tourists in a conundrum over how to respond. Those already in a country in the wake of a disaster debate whether they should stay or leave. Those with upcoming trips wonder if they should cancel. Can they and the revenue they bring in be of any real help, or will they be a burden? How appropriate is it to let tourism go on while a nation is in a state of collective mourning and rescue efforts are underway?
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