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Saudi Arabia’s NEOM Sets Target Date of 2026 for First Production of Green Hydrogen
- September 15,2022
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- SUSTG Team
Saudi Arabia’s giga project NEOM will start producing as much as 650 tons per day of green hydrogen in 2026, according to comments made by the CEO of NEOM Industrial City (OXAGON) at the Saudi International Iron and Steel Conference in Riyadh.
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Saudi’s SNB Capital Tops Forbes Ranking of Middle East Asset Managers; More than Half of List Based in Saudi Arabia
- September 14,2022
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- SUSTG Team
Forbes Middle East released its second annual ranking of the Middle East’s top 30 asset management companies, placing Saudi Arabia’s SNB Capital at the top of the list which is dominated by Saudi entities.
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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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Ministry of Industry and Mineral Resources Awards License for Khnaighuiyah Mining Site
- September 8,2022
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- SUSTG Team
Saudi Arabia’s Ministry of Industry and Mineral Resources said on Wednesday that it had awarded a license to mine at the Kingdom’s prized Khnaighuiyah mining site, where zinc and copper deposits are estimated around 26 million tons, Reuters reports.
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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 PIF Launches Real Estate Registration Services Company in Effort to Digitize Sector
- September 6,2022
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- SUSTG Team
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, has launched a company that aims to digitize and develop the local real estate sector through a comprehensive digital platform, according to a report in the UAE-based outlet The National.
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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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Aviation Plans Set to be Revealed at Saudi Arabia’s Future Airport Development Summit Set for November in Riyadh
- August 31,2022
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- SUSTG Team
Saudi Arabia is set to launch a new event, the Saudi Airport Exhibition, which organizers are billing as the largest dedicated event for airport development in Saudi Arabia.
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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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MUST-READS
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The Gulf’s Evolving Energy Landscape: Saudi Arabia’s Energy Policy and a Transition to the Post-Oil Era
Transitioning from an oil-dependent economy poses significant challenges for the Kingdom’s foreign policy, as well. Saudi Arabia finds itself in various push-and-pull relationships across the wider Middle East, all of which are complicated by heightened tensions, proxy wars, and shifting alliances. This report provides an overview of the main challenges ahead for the Saudi government and offers recommendations to maintain a healthy course in the changing energy landscape of a volatile region. Taking the reader through a journey from the role of oil in the Saudi economy to renewable energy outlook and geopolitical challenges, the following pages provide a comprehensive approach to economic diversification and energy transition in the Kingdom. The report explores Saudi strategic initiatives under Vision 2030, the country’s pivotal role in the geopolitics of global energy markets, and its forward-looking energy roadmap that collectively aim to secure a prosperous, sustainable future in the post-oil era.
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Saudi Arabia sets sights on becoming lacrosse power, with 2028 LA Olympics on horizon
Having thrown its significant resources into gaining influence in football, golf, boxing and tennis, Saudi Arabia has now set its sights on becoming a power in the world of lacrosse. And officials said they expected to become competitive over the next few years, despite the new head of the game in the desert kingdom admitting “99 per cent of all Saudi people” didn’t know anything about the sport. Ray Porcellato, the new CEO of the Saudi Lacrosse Federation, who began his new role in June, said the biggest hurdle was “getting people to understand what it [lacrosse] is, and the biggest challenge to development was being able to “expose young children” to the game.
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Saudi Arabia has extracted lithium from oilfield runoffs, vice minister says
Saudi Arabia has successfully extracted lithium from brine samples from national giant Aramco's oilfields and plans to launch a commercial pilot programme for direct extraction soon, the Saudi vice minister of mining affairs said on Tuesday. Lithium Infinity, also known as Lihytech, a start-up launched out of King Abdullah University for Science and Technology, will lead the extraction project with cooperation from Saudi mining company Ma'aden and Aramco, Khalid al-Mudaifer told Reuters. "They are extracting lithium through their new technology they have developed in King Abdullah University for Science and Technology and they are in accelerated development in this regard," he said. "They're building a commercial pilot at the oil fields. So the brines that come out of the field will feed into this commercial pilot on a continuous basis,” added Al-Mudaifer.
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Saudi Arabia says GCC residents can perform Umrah year-round
Pilgrims can purchase an Umrah package on Saudi Arabia’s official digital gateway for pilgrimage services, the Nusuk platform. They can also apply for a visa through accredited visa centers. For those who are transiting through the Kingdom on Saudia Airlines or Flynas, a transit visa can be acquired, enabling them to perform Umrah on their stopover. Pilgrims can also apply for a tourism visa through the electronic visa platform, which allows them to perform Umrah and grants them access to the holy sites across the country.
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Trump Presidency Heralds Warmer Ties with Saudi Arabia
In terms of volume, Iran’s oil exports may also turn out to be too small to matter for prices. The latest data, for November, shows an average daily export rate of 1.31 million barrels of Iranian oil going to China. China is virtually Iran’s only client, especially now that Islamist rebels have taken over Syria. The November figure is about half a million barrels daily lower than the October average and the lowest in four months, Iranian media reported. So, it’s safe to say that Iran has been exporting over 1 million barrels of crude daily this year but less than 2 million barrels daily.
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The Transformative Power of Sculptures and Landmarks in Urban Spaces: The Case of AL Khobar, Saudi Arabia
The Mujassam Wattan competition, aligned with Saudi Vision 2030, has been a catalyst for integrating meaningful public art into cities across the Kingdom. By inviting artists and designers to create works inspired by Saudi heritage and aspirations, the initiative fosters cultural expression while enhancing urban spaces. In Alkhobar, the competition resulted in the creation of Alarda and Alkhobar Memory, two sculptures that transformed the city's sea front into a cultural and social hub. These works exemplify how public art can redefine spaces, connect communities, and highlight local identity.
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Taking Saudi Arabia’s World Cup 2034 from ambition to reality
The World Cup is always more than just a series of matches. It’s a global event that transforms nations, driving development in infrastructure, the economy and tourism. For Saudi Arabia it’s also an opportunity to establish itself as a modern, ambitious and open nation. The country has announced plans to build 15 stadiums. And if you think these are just sports venues, think again. Each stadium is envisioned as a future architectural marvel designed to impress the world. But behind this grandeur lies a harsh reality: the kingdom’s limited domestic resources mean it will need to rely heavily on imported materials, technology and expertise – a significant challenge for a country determined to showcase its self-sufficiency.
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Saudi Arabia spotlights private sector’s role in driving logistics transformation
Saudi Arabia’s private sector is playing a pivotal role in driving the Kingdom’s transformation into a global logistics hub, a top official said. Speaking at the sixth edition of the Supply Chain And Logistics Conference in Riyadh, Rumaih Al-Rumaih, vice minister of transport and logistics services and president of the Transport General Authority, highlighted the critical contributions from businesses. “The main player in achieving anything in the logistics sector is the private sector. Truly, the private sector is the one delivering results. The government’s role is to enable,” Al-Rumaih said. He added: “If we visit the exhibition, we’ll see the private sector at the forefront, not the government because they are the real achievers.”
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Mastercard forges alliance with Saudi Arabia’s Jeel
Mastercard has partnered with Jeel, a subsidiary of Riyad Bank to foster digital innovation including artificial intelligence (AI) within Saudi Arabia’s non-banking financial institutions (NBFI) sector. Recently, Mastercard collaborated with payment solutions provider Geidea to promote digital payment adoption among SMEs in the UAE. Using Mastercard Gateway technology, Geidea will provide secure payment solutions that will benefit SMEs by enhancing their ability to accept payments from a wider customer base.
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Automotive industry in Saudi Arabia- statistics & facts
As the largest automotive market in the Middle East and North Africa (MENA) region, Saudi Arabia accounts for almost half of the region’s car sales, with over 600,000 new vehicles registered annually. The market is diverse, with Asian manufacturers such as Toyota and Hyundai leading the passenger car market, while brands like Mercedes-Benz and Audi dominate the luxury segment. Pickup trucks and SUVs remain highly popular, driven by social preferences and the country’s vast road network.
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