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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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Saudi Central Bank Study: Digital Payments Exceed Cash for First Time in Saudi Arabia
- August 15,2022
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- SUSTG Team
Electronic payments exceeded the use of cash for the first time in Saudi Arabia in 2021, a study conducted by Saudi Arabia’s Central Bank found.
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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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Trump envoy discusses Israel normalisation with MbS in Saudi Arabia
US President-elect Donald Trump's Middle East envoy Steve Witkoff met with Saudi Crown Prince Mohammed bin Salman earlier this week in what was the first meeting between the de-facto Saudi ruler and a member of the incoming Trump administration, Axios revealed on Saturday. Citing two anonymous sources, the US-based news outlet said that the pair discussed US-Saudi relations, Israel's war on Gaza and plans to forge a normalisation deal between Riyadh and Tel Aviv. Witkoff, a close confidant of Trump, has been tasked with the "clear aim" of securing a deal between the two US allies and making progress towards a Israel-Palestine peace agreement, according to Axios.
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Saudi Arabia issues RFP for New Abha International Airport Project
The Saudi Civil Aviation Holding Company (MATARAT) announces the Release of the Request for Proposal for the Privatization of the New Abha International Airport Project to Pre-Qualified Bidders. The new Abha Airport is designated to accomodate the region’s growing passenger demand while reflecting the unique architectural identity and heritage of the Aseer region. BY 2030, the airport is projected to accomodate upto 10 million passengers per year, with a capacity of upto 13 million passesngers per year anticpated by 2054.
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Hosting FIFA World Cup 2034 a game-changer for RSL and Saudi Arabia
With the carrot of the FIFA World Cup in 2034 now officially on the horizon – Saudi Arabia were on Wednesday confirmed as hosts - football in the Kingdom will never be the same again. First, is the physical transformation already set in motion. For the 48-team showpiece, Saudi Arabia will utilise 15 stadiums, 11 of which will be new builds. The impact this will have on the RSL will be remarkable, as teams begin to play in some of the most breathtaking and technologically advanced arenas anywhere in the world. And, from a football perspective, hosting the tournament will be a complete game-changer. The RSL was already on a path towards an exciting new future, but staging arguably the foremost sporting event will turbocharge that development, especially among local Saudi talent.
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How the future job market in Saudi Arabia will evolve
In his outlook on the future job landscape in the kingdom, the expert singled out sectors related to artificial intelligence, information technology, cybersecurity, renewable and sustainable energy, as well as energy-related engineering fields, including mechanical and electrical engineering, given the significant focus on infrastructure and sustainability projects. With the emphasis on improving health care, the demand for various health specialisations, including general medicine, nursing, and related technologies, will continue to grow. Moreover, tourism stands out as one of the most promising sectors for job creation in the kingdom, noted Al Dhiyabi.
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Economic feasibility of hydrogen transportation network in Saudi Arabia
Hydrogen is a promising, clean, and adaptable fuel source, making it a key player in the world's sustainable energy movement. However, safe and economical transportation and storage of hydrogen remains a challenge. This study investigates the economic feasibility of establishing a hydrogen transportation network in Saudi Arabia to facilitate the transition to a hydrogen-based economy and reduce carbon emissions.
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Movie Stars Will Visit Saudi Arabia. Will They Work There?
Over the past two weeks, dozens of movie stars, filmmakers and Hollywood executives visited Jeddah, a metropolis on the west coast of Saudi Arabia, for the fourth edition of the Red Sea Film Festival. Vin Diesel and Emily Blunt received awards at the opening ceremony. Spike Lee and Minnie Driver served on the jury. Agents from CAA and WME spoke on panels alongside executives from production outfits such as Fremantle and Anonymous Content. While Wall Street, Silicon Valley and some in Hollywood have been tapping Gulf money for some time, Saudi Arabia has emerged as a hub of financing and production in just the past few years. The state-backed Public Investment Fund has already invested billions in video games and sports, and the country is now offering generous incentives — a rebate of about 40% — to film in Saudi Arabia.
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Saudi Arabia’s inflation holds steady at 2% in November: GASTAT
Saudi Arabia’s annual inflation rate remained stable at 2 percent in November compared to the same month in 2023, driven primarily by higher housing costs, official data showed. According to data released by the General Authority for Statistics, housing rents increased by 10.8 percent year on year in November, while apartment rental prices surged 12.5 percent during the same period. Overall, costs for housing, water, electricity, gas, and other fuels rose by 9.1 percent compared to the previous year, underscoring the sector’s influence on inflation.
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Saudi Arabia calls Israeli Golan plan ‘sabotage’ of Syria
Saudi Arabia on Sunday condemned as “sabotage” of Syria an Israeli plan to double the population of the occupied and annexed Golan Heights. In a statement, the Saudi foreign ministry expressed “condemnation and denunciation” of the plan, which it called part of “continued sabotage of opportunities to restore security and stability in Syria” after opposition forces overthrew Bashar al-Assad one week ago. “The Kingdom renews its call to the international community to condemn these Israeli violations, stressing the need to respect Syria’s sovereignty and territorial integrity,” the statement said, adding that “the Golan is an occupied Syrian Arab land.”
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Neymar Jr ‘very happy’ after swapping PSG for Saudi Arabia
In an interviIn an interview with RMC Sport, Neymar Jr (32) has revealed his ‘happiness’ representing Al Hilal in Saudi Arabia. The Brazilian made his high-profile move to the GulInIn an interview with RMC Sport, Neymar Jr (32) has revealed his ‘happiness’ representing Al Hilal in Saudi Arabia. The Brazilian made his high-profile move to the Gulf State in 2023 after leaving Paris Saint-Germain on a free transfer after his contract at the Parc des Princes expired. Despite his happiness, it hasn’t been easy for the Brazil international since he arrived in the Saudi top flight. As was the same during his time at PSG, the forward has had a torrid time with injuries. Limited to just 7 appearances for the Saudi Arabian club, the attacker has missed over 60 matches due to injury.
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Commentary: Might Saudi Arabia actually be a good choice for a men’s World Cup?
He has also made it clear he thinks sport will play a big part in this process, saying he wants to create a domestic sporting industry that contributes more than 2.5 per cent to the economy, and he has acknowledged that being more active is the best way to tackle Saudi Arabia’s alarming obesity and diabetes problems. Being more active applies to girls and women, too, so he has already lifted the restrictions on sport for girls in schools and encouraged investment in women’s professional sport. Yes, of course, this is coming from the lowest of bases — it was not happening at all only a few years ago — but it is also undeniably progress. When I add all this up, I come to the conclusion that if we truly believe sport brings people together and can impact changes that other governmental levers cannot — and I do believe that — might Saudi Arabia actually be a good choice for a World Cup?
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