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Using ‘Greenshoe Option’, Saudi Aramco Raises IPO to Record $29.4B; Banks Seek ‘Incentive Fee’
- January 14,2020
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- SUSTG Team
Saudi Aramco sold millions of additional shares of its initial public offering using a so-called “greenshoe option” that has raised the size of its IPO by nearly $4 billion.
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Saudi Arabia launches third phase to build up solar power capacity, invites bidders for new projects
- January 9,2020
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- SUSTG Team
Saudi Arabia’s energy ministry has issued a request for qualifications for the third round of the Kingdom’s National Renewable Energy Program (NREP), which comprises of “four Solar PV projects with a combined generation capacity of 1,200 MW,” the Saudi Press Agency said.
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With Tensions Soaring, Saudi Arabia Keeps Eyes on Cyber Threat from Iran
- January 8,2020
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- SUSTG Team
As tensions soar between the United States and Iran, Saudi officials are keeping close tabs on emerging cybersecurity threats that may be emanating from the Islamic Republic, according to a report.
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Prince Khalid bin Salman Meets with President Trump at White House
- January 7,2020
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- SUSTG Team
Saudi Arabia’s deputy defense minister Prince Khalid bin Salman held several meetings with top U.S. officials yesterday in Washington, D.C., including Secretary of Defense Mark Esper, Secretary of State Mike Pompeo, and President Donald Trump.
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Deputy Defense Minister Khalid bin Salman to Visit Washington, London to ‘Urge Restraint’ as U.S.-Iran Tensions Soar
- January 6,2020
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman has instructed his younger brother and deputy defense minister Prince Khalid bin Salman to travel to Washington and London to “urge restraint” after the killing of a top Iranian commander has sent regional tensions soaring.
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Riyadh’s Night Skies Light Up with New Years Fireworks for the First Time
- January 1,2020
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- SUSTG Team
The night sky over Riyadh was illuminated with fireworks and light shows to celebrate the beginning of the new decade last night.
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Global Construction Giant Bechtel Opens New Office in Al-Khobar, Saudi Arabia
- December 17,2019
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- SUSTG Team
Global engineering, procurement and construction (EPC) firm Bechtel has re-opened its office in Al-Khobar to “meet the increasing demand for quality services in the Oil and Gas sector in Saudi Arabia and in the region,” SUSTG has learned.
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A Look at Saudi Arabia’s 2020 Budget
- December 12,2019
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- SUSTG Team
This week, Saudi Arabia unveiled its 2020 budget, which signals an end to the expansionary trend of recent years, assumes lower oil prices than in 2019, and continues to invest in the economic diversification as outlined in the Kingdom’s Vision 2030 economic and social reform plans.
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Pensacola Shooting Puts U.S.-Saudi Relations in Spotlight; Trump Speaks with King Salman and Crown Prince
- December 9,2019
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- SUSTG Team
A Saudi soldier in training in the United States opened fire on a naval base in Pensacola, Florida on Friday, killing three and wounding 12. Second Lt. Mohammed Saeed Alshamrani was then killed by a sheriff’s deputy who responded to the attack. The attack shocked Saudis and Americans alike.
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China’s Imports of Saudi Oil Soar 76% in October as Demand Increases
- November 25,2019
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- SUSTG Team
China’s crude oil imports from Saudi Arabia rose over 75% in October as demand from new refiners was met by the Kingdom, according to Reuters data. The 76.3% rise in October was boosted by demand particularly from from two new integrated refineries, the Hengli Petrochemical Co. in the north, and Zhejiang Petrochemical in the south, Reuters reports. […]
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MUST-READS
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Green Riyadh ProjectSaudi capital to get world’s biggest park in $22.9bn project
The world’s biggest park will be created in Saudi Arabia as part of a $22.9 bln project that promises to create vast open green areas in Riyadh, creating thousands of new jobs, state news agency SPA reported on Tuesday
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AtturaifMaking amazing tales of Saudi Arabia’s past capital audible: Video
With the restoration of Atturaif and plantings of more than 14,000 indigenous trees and shrubs and 350 palm trees, Ad Diriyah is rising from its ruins to reclaim an important legacy in Saudi culture. “There are amazing stories in this place,”
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Venture CapitalVenture capitalists bullish about Saudi and Egyptian start-ups
“We’ve also been hearing a lot of news coming out of Saudi Arabia in the last few years. There’s obviously a latency, it takes time, but we can actually see it and feel it. Those two markets are going to be crucial going forward and will play a big role in the entrepreneurial ecosystem in the region,” Mr Sati said.
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STVSaudi Technology Ventures funding rounds account for 30% of MENA capital
STV led $250m worth of funding rounds in 2018, deploying $100m of its $500m fund in its first year of operation
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RiyadhSaudi king launches $8 billion in development projects in capital
Saudi Arabia’s King Salman launched projects worth 29.9 billion riyals ($7.97 billion) on Wednesday in the capital Riyadh, the latest in a series of high profile investment announcements that signal support for his son and heir.
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Saudi AramcoSaudi Aramco venture capital arm invests in fitness app
Saudi Aramco’s venture capital arm, Wa’ed Ventures, has invested $1.5 million in Jeddah-based fitness start up GetMuv.
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Climate ChangeOn Capitol Hill, experts and officials call for rapid action on climate change
The chairman of the House Natural Resources Committee said that hearing is the first to focus on climate change in eight years. "Today, we turn the page on this committee from climate change denial to climate action," said Chairman Raúl M. Grijalva, D-Arizona.
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War in YemenSaudi-Led Coalition Peppers Yemeni Capital With Airstrikes
The escalation in fighting, which follows a deadly Houthi drone attack last week on a Yemeni government military parade, raises doubts about the chances of a second round of U.N.-sponsored talks this month aimed at ending the nearly four-year war.
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EgyptEgypt el-Sissi inaugurates cathedral, mosque in new capital
Egypt’s president on Sunday inaugurated a new cathedral for the Coptic Orthodox Church and one of the region’s largest mosques in a highly symbolic gesture at a time when Islamic militants are increasingly targeting the country’s minority Christians.
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AFC Asian CupCommentary: It’s Time Asia’s Biggest Football Tournament Captured The Fans’ Imagination
Football fandom often has little to do with football. It is about identity, a sense of belonging. It’s why people who have little interest in the game become fanatics during the World Cup.
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