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  • ROSHN Group, Saudi Aramco to Cooperate in the Construction of 47,000-capacity Stadium in Alkhobar

    A 47,000-capacity arena, to be called the Aramco Stadium, is to be built in Alkhobar in the Eastern Province following a cooperation agreement between ROSHN Group and Saudi Aramco. The stadium is expected to be fully operational by 2026, when it will be ready to host local and international events, including the Asian Cup which Saudi Arabia is scheduled to host in January 2027, the Saudi Press Agency reported on Wednesday.

  • Seizing Opportunities in Saudi Arabia’s Thriving Business Landscape

    Saudi Arabia's free zones have played a pivotal role in attracting foreign investment and fostering economic growth. These zones offer numerous benefits, including tax exemptions, streamlined regulations, and access to a skilled workforce.

  • Saudi Arabia plans 92,000-capacity stadium in Riyadh

    Saudi Arabia said on Sunday it plans to build a 92,000-capacity stadium in Riyadh that can host major international events, with the kingdom looking set to win the right to host the 2034 World Cup. The Saudi sports ministry unveiled the approved design for the stadium, which is scheduled to be completed in the fourth quarter of 2029, according to the state news agency SPA. The stadium is set to serve as the main base of the Saudi national team and will be part of a sports complex featuring an indoor sports hall, an Olympic-sized pool and other facilities. It will be named after Saudi King Salman.

  • Saudi Arabia Registers ‘Cultural Landscape of Al-Faw Archaeological Area’ on UNESCO World Heritage List

    The Saudi Minister of Culture, Chairman of the Heritage Commission, and Chairman of the National Committee for Education, Culture, and Science, Prince Badr bin Abdullah bin Farhan, has announced that the Kingdom successfully inscribed the Cultural Landscape of Al-Faw Archaeological Area in the Riyadh Region on the UNESCO World Heritage List as a cultural site of outstanding universal value to humanity.

  • Russia faces ‘big problems’ as sanctions bite, economy confronts recession risk amid ‘unprecedented’ brain drain, capital flight

    Russia’s economy is showing signs of overheating, with high inflation and abnormally low unemployment, while growth projections place it ahead of some advanced economies. However, experts warn that these indicators may be masking an impending recession. Despite being one of the world’s most sanctioned countries, recent projections suggest that Russia’s economy is still growing. According to the International Monetary Fund’s latest World Economic Outlook, Russia is poised to outpace many economies with a projected real GDP growth rate of 3.2 percent this year.

  • Saudi capital market’s momentum likely ongoing in H2 2024: HSBC Saudi Arabia

    The Saudi capital market is expected to see continued momentum in H2 2024, backed by a strong pipeline of initial public offerings (IPOs), announced projects, and investment opportunities, which is seeing higher investor engagement by local and foreign players at record highs compared to previous years, Faris AlGhannam, CEO and Board Member of HSBC Saudi Arabia, said.

  • Saudi Arabia Announces Carbon Capture And Utilization Challenge For Startups

    Saudi Arabia appears to be doubling down on carbon capture as part of its plans to create a circular economy. Last week the country’s Ministry of Economy and Planning (MEP) and Ministry of Energy (MoEnergy) unveiled the Carbon Capture and Utilization Challenge. The challenge invites startups from across the globe to present innovative approaches to reduce carbon emissions through sustainable system transformations. This includes advancements in carbon capture technologies, novel applications for carbon utilization, and industrial integration.

  • Saudi Arabia tops MENA for venture capital investment in H1 2024

    Saudi Arabia has taken the top rank across MENA in terms of the amount of venture capital (VC) funding in H1 2024, with about $412 million, according to venture data platform MAGNiTT.  The Saudi venture investment market began the year in line with its performance in H1 2023, with non-mega deals accounting for 68% of the value of venture investment in H1 2024, up from 35% in H1 2023, according to MAGNiTT.

  • Border Traffic: How Syria Uses Captagon to Gain Leverage Over Saudi Arabia

    Since 2011, the Gulf region has seen a significant escalation in the scale and sophistication of drug trafficking. There has been a particular increase in the supply of Captagon, a codrug of amphetamine and theophylline, whose consumption threatens social peace. However, the issue extends beyond organized crime to affect politics. The Syrian regime of President Bashar al-Assad and its allies have leveraged Captagon trafficking as a means of exerting pressure on the Gulf states, notably Saudi Arabia, to reintegrate Syria into the Arab world and secure concessions that would allow the regime to reinforce its position after thirteen years of conflict.

  • H1 2024 Saudi Arabia Venture Capital Report

    In H1 2024, Saudi Arabia reaffirmed its position as the leader in Venture Capital funding across the Middle East and North Africa. Despite a slight 7% year-on-year decline, Saudi Arabia’s VC ecosystem aggregated an impressive $412M in funding. Notably, 32% of this funding came from a significant $130M deal in Salla, marking the only MEGA round in the MENA region for 2024 so far.