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Recent stories from sustg
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2nd Edition of FII in Miami, Florida Kicks Off Tomorrow
Leaders from the public and private sector, business and finance executives and others will descend this week on Miami for the second FII event to take place in that city to discuss potential solutions to the planet’s ongoing conflicts and climate change, as well as artificial intelligence.
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What it’s like to live in Saudi Arabia during Riyadh Season, PIF-backed Alat launches with eyes on a big impact, and more…
The boys are back for their normal format and catch up on just some of the seemingly endless new developments and storylines emerging from Saudi Arabia of late.
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Science Museum Group to create ‘museum hub’ in Saudi Arabia
The Science Museum Group is to create a Museums Hub in Saudi Arabia which it says will become a “center of excellence for science and culture and support the wider museum sector”. The new hub, to be located in Riyadh, hoped to enable the Science Museum Group to work with museum professionals, researchers and educators […]
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Saudi Family Office Mithaq Capital Buys Majority Stake in Struggling Retailer Children’s Place
Saudi Arabia’s Mithaq Capital, a family office owned by the Al Rahji Family, snapped up shares in struggling children’s retailer The Children’s Place to take a majority stake in the company, Semafor reports.
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House Prices in Riyadh Continue Climb into Record Territory — Knight Frank Report
Global real estate consultancy Knight Frank released today its Winter 2023/24 Saudi Arabia Residential Market Review, available now on the company’s website.
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A Look at Saudi Arabia’s Latest Tourism Figures
Tourism minister Ahmed bin Aqeel Al Khateeb recently revealed Saudi Arabia’s latest tourism figures — key numbers for the Kingdom as it looks to diversify its economy in part by attracting visitors to the Kingdom.
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Discussing Saudi Arabia’s growth and construction projects with Waleed Abdel-Fattah, President of the MENA Region at Hill International
Waleed Abdel-Fattah, President of the MENA Region at Hill International, joins The 966 to talk about Saudi Arabia’s building boom and Hill’s traction in KSA since entering the market to help build out what is now known as KAFD. Hill has 100 offices across 42 countries, and its main geographical areas are the US, Europe […]
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Saudi Arabia Leads Arab Push for Palestinian State as Anger over Israel’s Brutality Mounts in East and West
Saudi Arabia is pushing for Arab states to take “a common position on how to end Israel’s war on Hamas as fears grow over its attacks on the refugee haven of Rafah — while increasing calls for an independent Palestinian state,” Bloomberg reports.
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Local content rate seen at 43% in Saudi Arabia with a 20% jump in spending – PIF
The growth rate of local content in Saudi Arabia has now reached 43 percent, a top PIF official noted at the Private Sector Forum in Riyadh yesterday, noting that overall spending on content has increased by 20 percent.
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2nd PIF Private Sector Forum Concludes; Expands Private Sector Interaction with PIF Portfolio Companies
Saudi Arabia concluded its second edition of the “PIF Private Sector Forum” in Riyadh, an event that brought together stakeholders from the PIF and its portfolio companies to engage directly with private sector companies at the King Abdulaziz International Convention Center in Riyadh.
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MUST-READS
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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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Saudi Arabia to reveal roadmap to turn aviation sector into $2bn industry
Details of the roadmap will be set out at the 2024 Future Aviation Forum, convening 5,000 leaders, including private investors, operators, and service providers, set to be held in Riyadh from May 20 to 22. The plan comes after Saudi Arabia revised its 2030 tourism target upwards from 100 million to 150 million visitors in October 2023. The forum is set to be hosted by the General Authority of Civil Aviation, and the organization’s President Abdulaziz-Al Duailej said: “General aviation is vital to growing high-value sectors of the Saudi economy, including tourism, business and entertainment events.
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Half of Gaza water sites damaged or destroyed, BBC satellite data reveals
Hundreds of Gaza's water and sanitation facilities have been damaged or destroyed since Israel began military action against Hamas, satellite analysis by BBC Verify has found.
Damage to a major supplies depot has also severely disrupted repairs.
The lack of clean water and flows of untreated sewage pose a serious threat to health, say aid agencies.
The Israel Defense Forces told the BBC that Hamas cynically exploits civilian infrastructure for terror purposes.
The destruction comes despite Israel's duty to protect critical infrastructure under the rules of war, unless there is evidence sites are being used for military reasons, say human rights lawyers.
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UN General Assembly backs Palestinian bid for membership
The United Nations General Assembly on Friday overwhelmingly backed a Palestinian bid to become a full U.N. member by recognizing it as qualified to join and recommending the U.N. Security Council "reconsider the matter favorably."The vote by the 193-member General Assembly was a global survey of support for the Palestinian bid to become a full U.N. member - a move that would effectively recognize a Palestinian state - after the United States vetoed it in the U.N. Security Council last month.
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Saudi Arabia woos investors with lucrative business environment
Khairy added: “The Kingdom has already started to take serious steps to capitalize on its exceptional location through the establishment of logistics and free trade zones, coupled with efforts to diversify the economy under Vision 2030, attracts foreign investment and fosters trade partnerships.”
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Why Netflix’s Honeymoonish director thinks the Middle East needs more rom-coms
Honeymoonish is the first Arab film to reach number one on Netflix's weekly Top 10 chart of the most-watched non-English TV films, accumulating 14 million views in its second week of release.
It is a surprising and exciting result for the cast, crew and particularly for Lebanese director Elie El Semaan, considering it is his first film.
“I'm very happy,” El Semaan tells The National. “The feedback we were getting from day one was bigger than I expected, to be honest. And not only from the Gulf region but from all over the world.”
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Saudi crown prince MBS delays visit to Pakistan for unspecified reasons
Saudi Arabia’s crown prince has deferred his visit to Pakistan for unspecified reasons, dimming the much-anticipated event that Islamabad was hoping would secure further investments and agreements between the two allies.
Saudi crown prince Mohammed bin Salman had been expected to visit Pakistan on 19 May, but according to media reports, that has now been delayed until a later date while Islamabad and Riyadh continue to work out an agreed-upon schedule.
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Cases of Botulism in Saudi Arabia linked to mayonnaise, product recalled
Saudi authorities on Saturday announced that the source of recent cases of food poisoning in Riyadh at a popular burger chain in the Kingdom has been tracked to a bacterium found in a mayonnaise product used by the chain. Last month, scores of cases of Botulism were reported in the Kingdom which were linked to the Hamburgini restaurant chain, prompting the authorities to take necessary measures and open a probe into the matter.
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