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Recent stories from sustg
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Neom’s progress and opening date, Syria comes in from the cold, the Rua Al-Madinah giga-project and much more
Episode 86! The hosts fly solo today with lots to discuss from a busy week in Saudi Arabia. Richard’s One Big Thing is the recent developments on Saudi-Syria relations. Syria has come in from the cold in recent days as the Arab League and Saudi Arabia in particular prioritize engagement with Assad regime to solve […]
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Knight Frank’s Faisal Durrani joins The 966 to talk Saudi real estate, giga-projects and much more
In Episode 84, The 966 speaks with Faisal Durrani, partner and head of Middle East research for the global real estate company Knight Frank. Mr. Durrani shares some of the highlights and key information from Knight Frank’s recently-released 2023 report on real estate in Saudi Arabia, The Saudi Report 2023, a publication which touches on many […]
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Talking tech in the MENA with MEI’s Mohammed Soliman, King Salman Park in Riyadh, Saudi’s growing soccer league, and much more…
Eid Fitr Mubarak! In Episode 84, Mohammed Soliman, the director of the Middle East Institute’s Strategic Technologies and Cyber Security Program and a Manager at McLarty Associates’ Middle East and North Africa Practice, joins The 966. Mohammed’s work focuses on the intersection of technology, geopolitics, and business in the Middle East and North Africa (MENA). […]
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STC Expands in Europe with Acquisition of Portfolio of Tower Assets in Europe
TAWAL, a unit of Saudi Telecom Company (stc), agreed to buy tower infrastructure worth 1.22 billion-euros ($1.34 billion) from United Group in its first foray into Europe’s telecoms market,” Reuters reports.
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Hot Gulf Region IPO Market Draws Global Attention — FT
The Middle East North Africa (MENA) region saw 51 IPOs last year, raising $22bn, a 179% increase on 2021, a report in the Financial Times said, citing the advisory firm EY.
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PIF to Host Major Private Sector Forum Set for March 14-15; Announcements Expected at Event to ‘Strengthen Saudi Local Economy’
Saudi Arabia’s sovereign wealth fund is all set to host a private sector forum next week in Riyadh at the Four Seasons to strengthen the Kingdom’s local economy.
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Saudi Economy in 2023 Report: Saudi Non-Oil Economy Forecasted to Grow Over 5% — Jadwa Investment
Riyadh-based Jadwa Investment says it sees Saudi Arabia’s non-oil economy continuing its growth streak through 2023, “growing well in excess of 5 percent,” according to a report issued by Jadwa.
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Antonia Carver, director of Art Jameel, Riyadh’s New Murabba Development, Founding Day 2023 and more
In Episode 76, The 966 welcomes Antonia Carver director of Art Jameel, who discusses her work supporting artists and creative communities in the Middle East region and beyond. Art Jameel was founded by the Jameel family philanthropies and is headquartered in Saudi Arabia and the UAE and works globally. Before the discussion, the hosts talk […]
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Lydia Ko Wins 2023 Aramco Saudi Ladies International with One Shot Victory at Royal Greens
Lydia Ko fired a final round of 68 (-4) to win the 2023 Aramco Saudi Ladies International presented by Public Investment Fund by one stroke.
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IMF Head Says Gulf Economies are Becoming More Resilient to Energy Prices
Governments of Gulf countries have made progress toward diversifying their economies away from oil by opening up to private investment and implementing taxes, according to comments from Kristalina Georgieva, the head of the International Monetary Fund.
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MUST-READS
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Gazans Flee Danger of Rafah for Uncertainty of Crowded Camps
Seven months into the war between Israel and Hamas, chaos is rising, and so are prices. A tent, the most basic shelter, can cost $1,000. A ride from the southern city of Rafah, now in Israel’s crosshairs, to the declared safety zone of al-Mawasi can be $270. It used to cost about $13. And those who are fleeing jam-packed Rafah find the al-Mawasi safe zone itself overcrowded and squalid — and perhaps not even safe from fighting.
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U.S. weapons may have been used in ways “inconsistent” with international law in Gaza, U.S. assessment says
The report states that though there are allegations that Israel violated international humanitarian law during the period covered by the report, Jan. 1, 2023 through late April of this year, the U.S. doesn't have "complete information" on whether U.S. weapons were used in those actions. Its authors cite the difficulty of determining facts on the ground in an active war zone as well as Hamas's use of civilian infrastructure for military purposes.
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Saudi Arabia’s billion-dollar football league a work in progress
None of the Saudi teams reached the Asian Champions League final, hosts Al Ittihad exited in the second round of the Club World Cup in Jeddah, and Roberto Mancini's Saudi national side lost in the Asian Cup's last 16. Al Hilal were so dominant that they won 34 consecutive games in all competitions -- a record for a top-flight team -- and remain unbeaten in the Pro League.
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Tawaref Series: Understanding annual operating cost in Saudi Arabia
As you can see, there is a major cost difference between operating an early-stage startup and small traditional business. The startup is less expensive to operate across every category, with the most notable difference being observed in commercial registration and third party costs. From our analysis, we have identified the following ways you can cut OpEX costs.
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CENTCOM Commander Visits the Kingdom of Saudi Arabia
From May 9-10 Gen. Michael Erik Kurilla, commander of U.S. Central Command, traveled to the Kingdom of Saudi Arabia to meet with leaders of the Saudi Royal Armed Forces and senior U.S. diplomats. The visit is part of an ongoing multi-country trip to the CENTCOM area of responsibility. While in Saudi Arabia, Gen. Kurilla engaged with Chief of General Staff, Gen. Fayyadh al-Ruwaili and other Saudi senior military leaders. The leaders discussed shared regional security concerns, the status of humanitarian assistance into the Gaza Strip, and further opportunities to partner on innovation of defensive technologies.
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China’s former ambassador to Iran takes on same role in Saudi Arabia
China’s former ambassador to Iran, Chang Hua, has been transferred to Saudi Arabia as part of a regular diplomatic reshuffle.
The move follows last year’s Chinese-brokered deal between the states to restore diplomatic relations.The embassy in Riyadh announced the appointment and Chang’s arrival on Friday. In his inaugural address he said the embassy is “committed to promoting exchanges and cooperation between [China and Saudi Arabia] actively practising ‘diplomacy for the people’, and providing dedicated services to Chinese citizens” in Saudi Arabia.
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Saudi Arabia offers financial incentives to 490 factories: Official
Financial incentives were offered to more than 490 factories through several initiatives and programs within the Future Factories Program, said Al-Bader Fouda, Acting Undersecretary of Industrial Development and Supervisor of the Empowerment Agency.
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Saudi Esports Investment: $1.5 Billion Merger Finalized
Rick Horrow breaks down the state of Esports after the $1.5 billion Saudi Arabian merger. This now includes college scholarships and an Esports World Cup.
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U.S. energy secretary to visit Saudi Arabia, UAE next week, officials say
U.S. Energy Secretary Jennifer Granholm will visit Saudi Arabia and the United Arab Emirates next week to work on “climate co-operation” and other issues, two Biden administration officials told Reuters on Friday. The visit will run from Tuesday through Thursday, with Granholm visiting the UAE first, one of the officials said. It will be her first trip to the region as secretary.
“The visit is a continuation of long-standing engagement between the U.S. and this region,” the officials said. -
Saudi Arabia plans $100 billion investment to develop aviation sector
A significant portion of the investments, over $50 billion, will go to developing the country’s airports. Moreover, the Kingdom expects airlines to place new aircraft orders worth around $40 billion. The remaining $10 billion will go to other aviation projects across Saudi Arabia, including $5 billion to special logistics zones in the major airports of Riyadh, Jeddah and Dammam.
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