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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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Saudi Arabia Announces New Permit Requirement for Content Creators, Social Media Influencers
- August 11,2022
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- SUSTG Team
Saudi Arabia will require all social media users and content creators who are monetizing their posts and stories to apply for and receive a permit from the Kingdom’s General Commission for Audiovisual Media (GCAM), a report in Arab News said.
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Saudi Technology Ventures Report Sees 45 New MENA Unicorns in the Next Eight Years
- August 10,2022
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- SUSTG Team
The MENA region is set to witness the birth of more than 45 unicorns in the next eight years, with an estimated total equity value to reach more than $100 billion, according to a new Saudi Technology Ventures (STV) report.
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Saudi Arabia Expected to Join $1 Trillion+ Economies in 2022
- August 9,2022
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- SUSTG Team
Saudi Arabia’s economy is expected to cross the $1 trillion mark, joining the largest economies in the world as the Kingdom’s GDP is expected to soar in 2022 on the back of high oil prices.
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Saudi Ministry of Investment Releases Q2 Investment Highlights Report; 49 Closed Investment Deals Worth More Than $925m Inked
- August 8,2022
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- SUSTG Team
Saudi Arabia’s Ministry of Investment (MISA) released its 2Q 2022 Investment Highlights report, which touts over $925 million in investment deals in the second quarter of this year.
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Knight Frank’s Faisal Durrani on real estate trends in Saudi Arabia, the Saudi economy has a big 2Q, and more…
- August 5,2022
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- SUSTG Team
Episode 55! The 966 welcomes Faisal Durrani, Partner and Head of Middle East Research at Knight Frank, the London-based global real estate consultancy. Knight Frank just released two reports on Saudi Arabia’s commercial and residential real estate sectors, providing unique insights into one of the world’s fastest growing real estate markets. Faisal joins The 966 […]
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Report: Saudi, UAE Save Remaining Spare Capacity for Potential Winter Supply Crisis
- August 4,2022
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- SUSTG Team
According to a report in Reuters, OPEC+ production leaders Saudi Arabia and the United Arab Emirates stand ready to deliver a “significant increase” in oil output “should the world face a severe supply crisis this winter,” sources familiar with the thinking of the top Gulf exporters told Reuters in an exclusive report.
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OPEC, Allies Agree to Increase in Oil Production
- August 3,2022
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- SUSTG Team
Saudi Arabia and the OPEC+ group of oil-producing countries agreed to a small increase of 100,000 bpd in oil production on Wednesday after the U.S. and other consuming nations called for more crude in the market, according to reports.
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MUST-READS
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Poll: About three quarters support bringing troops home from Iraq, Afghanistan
About three-quarters of U.S. adults say they support bringing U.S. troops home from Iraq and Afghanistan in a new poll commissioned by the libertarian Charles Koch Institute obtained exclusively by The Hill. In the poll, which surveyed 2,000 U.S. adults, 44 percent said they strongly support bringing U.S. troops home from Iraq and 30 percent said they somewhat support doing so.
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Native American stone tool technology unearthed in Yemen, Oman
Archaeologists recently discovered 8,000-year-old stone fluted points on the Arabian Peninsula, the same technology developed by Native Americans 13,000 years ago, according to a study published Wednesday in the journal PLOS One. When the stone tools were first unearthed, researchers suspected there was something familiar about them. Scientists took note of the flute-like grooves texturing the sides of the stone points.
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More than 500 State Department employees sign letter opposing return to offices
Over 500 State Department employees are calling on the Trump administration to back down from its decision to send up to 80 percent of department staff in Washington, D.C., back to work in person amid the ongoing coronavirus pandemic. The State Department announced Monday that it was moving its offices in Washington to Phase II of its reopening plan, allowing offices to be occupied at up to 80 percent, NBC News reported.
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LEC announces NEOM as main partner for summer split
LEC is also partnered with Secretlab, KitKat, Alienware, Kia Motors, Shell, and Foot Locker. Earlier this month, the competition announced European financial provider Erste Group Bank as a main partner.
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US Democratic Party Rules Out Regime Change In Iran And Supports Nuclear Deal
The Iran policy part of a new draft of Democratic Party's 2020 platform which calls for "a responsible end to forever wars" has received mixed reactions in the United States and worried some in Israel, while politicians in Iran have remained silent about It. Even compared to the party's own platform in 2016, the new draft marks a shift in attitudes toward Iran. The 80-page 2020 Democratic Party platform opposes regime change in Tehran. According to the Politico, Bernie "Sanders staffers pointed to some anti-interventionist language in the draft as a victory, particularly compared to the 2016 platform’s foreign policy proposals, which they viewed as overly hawkish."
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Fully Armed Kadena F-15 Eagles Soar Over Saudi Arabia Wearing Some Awesome Nose Art
The U.S. Air Force’s 44th Fighter Squadron, the “Vampires,” is currently deployed to Prince Sultan Air Base, Saudi Arabia, as part of Operation Inherent Resolve. Since arriving in theater, the squadron’s maintainers have applied bold and remarkably large nose art to a number of the jets.
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Saudi unemployment falls in first quarter, but before coronavirus impact
Unemployment among Saudi Arabian citizens in the first quarter fell below 12% for the first time in four years, official figures released on Tuesday showed, but they did not capture the impact of the coronavirus crisis. Unemployment fell to 11.8% from 12% the previous quarter, the General Authority for Statistics said.
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Saudi-Led Coalition Starts Military Operation Against Yemen’s Houthis
A Saudi-led coalition has started a military operation against Yemen's Houthi movement after Houthis stepped up cross-border missile and drone attacks on Saudi Arabia, Saudi state television reported Wednesday.
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Big Bank Merger Points to Trouble at Heart of Saudi Economy
Several years of low lending growth were already leading banks to look at consolidation as a way to create value and more deals are possible, Madani said. Two smaller Saudi banks, SABB and Alawwal, completed a merger in 2018.
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Russian Bounties Are Part of Moscow’s Aid to the Taliban, Current and Former Intel Officials Say
Explosive reports of the existence of the bounty program — and the Trump administration’s failure to publicly respond in the months since the program was discovered — have sparked outrage among lawmakers and some national security practitioners who claim that Russia has been allowed, essentially, to order the killing of U.S. service members.
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