SUSTG.com / Research

Discover stories, topics, and more about Saudi Arebia faster.

Recent stories from sustg

MUST-READS

  • Field for $20 million Saudi Cup horse race could be strongest ever

    When the Jockey Club of Saudi Arabia announced plans for a $20 million race on the dirt at King Abdulaziz Racecourse, trainer Bob Baffert was asked if he thought Americans would be willing to send their best horses to a spot then relatively unfamiliar on the world scene. "If they put up $20 million, they'll get good horses in the gate," said Baffert, a veteran of top-level international campaigns. He was right from the very first, as excellent horses from around the world showed up for the initial Saudi Cup program in 2020. And with the infrastructure demonstrated, races and purses upgraded and hospitality second to none, the quality of the runners has only improved.

  • Saudi Foreign Minister Meets with EU High Representative

    Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah met today in Riyadh with High Representative of the European Union for Foreign Affairs and Security Policy and Vice President of the European Commission Kaja Kallas on the sidelines of the Expanded Ministerial Meeting on Syria. The two officials discussed the shared cooperation between the Kingdom of Saudi Arabia and the European Union and reviewed regional and international developments of mutual interest.

  • Al-Falih: 571 global companies moved their headquarters to Saudi Arabia

    Minister of Investment Eng. Khalid Al-Falih said that the initiative of moving regional headquarters of global companies to Saudi Arabia is proceeding steadily well in a way accomplishing its goals. “The number of international companies licensed to establish their headquarters and moved to the Kingdom has reached 571, most of which have opened their offices in the King Abdullah Financial Center in Riyadh. The largest share of them are industrial companies, and incentives will be provided to these companies through various programs,” he said.

  • Saudi Arabia targets 130 GW in renewable energy capacity: Minister

    Minister of Energy Prince Abdulaziz bin Salman said he is confident Saudi Arabia will reach 44 GW of renewable energy capacity, up from nearly 26 GW currently. Speaking at the iktva Forum & Exhibition 2025, he stated that Saudi Arabia aims to achieve 130 GW of renewable energy capacity with a 20% energy reserve margin. This goal reflects expectations for stronger-than-anticipated economic growth, requiring more energy to support expansion. “Without energy, there is no prosperous or fruitful future,” he said, underlining efforts to build renewable energy infrastructure to support the energy transition.

  • Balancing the Saudi books to improve growth

    In Saudi Arabia’s case, the sovereign balance sheet looks fine and ratings agencies are happy-ish. Public debt is around only 28 percent of GDP and the finance ministry projects that it will climb to about 33 percent by the end of 2027. The US and European states can only dream of such metrics. How about north of 100 percent? But cash management is an issue. Contractors and others are worried about being paid – at least being paid on time. The banks are lending as much as they can to the mega-projects, and state oil giant Aramco is tapping the debt markets as a proxy for the state. Ihsan Buhlaiga, an economist and former Shura Council member, told Nadim Kawach that the kingdom wants to build foreign reserves and prefers not to sell down assets such as those held by the Public Investment Fund.

  • PIF announces completion of investment in Saudi Reinsurance Company

    PIF announced today that it has acquired a 23.08% stake in Saudi Reinsurance Company (Saudi Re) by way of a capital increase and subscription to new shares, with the suspension of preemptive rights in accordance with Capital Market Authority regulations. Saudi Re is a leading MENA reinsurance company and holds an A-minus rating from S&P Global and an A3 rating from Moody's. In the first nine months of 2024, Saudi Re's total written premiums reached SAR 1.94 billion ($520 million). It achieved a compound annual growth rate of 17% over the five years up to the end of the 2023 financial year.

  • Ivanhoe Electric’s Typhoon Technology Quickly Proves its Power with Discovery in Saudi Arabia

    The Joint Venture's first TyphoonTM survey covered 76 square kilometers near Ma'aden's Al Amar gold-copper-zinc mine. It was completed in March 2024. Subsequent TyphoonTM surveys have covered an additional 162 square kilometers of the Al Amar exploration licenses. The Joint Venture's initial drill program focused on the Umm Ad Dabah prospect, near Ma'aden's existing Al Amar gold-copper-zinc mine. The Joint Venture is using Ivanhoe Electric's advanced TyphoonTM geophysical surveying systems and Computational Geosciences Inc.'s ("CGI") industry-leading inversion software to guide exploration activities.

  • Fundraising in Saudi Arabia and the GCC: What can we expect from 2025?

    Despite the challenges, the GCC's fundraising landscape in 2025 is poised for continued growth. The region's burgeoning startup ecosystem, coupled with supportive government initiatives and a growing appetite for risk among investors, creates a fertile ground for VC investment. However, navigating the evolving preferences of LPs and effectively addressing the challenges of competition and talent acquisition will be crucial for long-term success. The GCC fundraising landscape in 2025 presents a mixed picture. While the venture capital (VC) asset class exhibits strong tailwinds, driven by growing opportunities and an increasing number of exits facilitated by the Saudi stock market, several challenges persist.

  • Saudi Arabia plans cash pay-offs to cut public sector jobs

    Saudi Arabia is to offer cash incentives to encourage unproductive employees in the public sector to resign in a bid to tackle inefficiency. Saudi newspapers have reported that the government has earmarked nearly 12.7 billion riyals ($3.38 billion) for the three-year plan, which it dubs the ‘Golden Handshake’. While Riyadh has not clarified why it chose that name, it is clear that it wants to tempt idle Saudi civil servants to leave their jobs in return for attractive cash incentives. The Arabic language daily Aliqtisadiah and other publications said at the weekend that the plan aims to save funds, boost efficiency and encourage citizens to seek jobs in the private sector, which they have generally shunned.

  • Saudi Arabia’s Industrial Production Sees Notable Growth: A Comprehensive Analysis

    The Kingdom of Saudi Arabia has reported a significant rise in its industrial production, with the general index of industrial production recording an increase of 3.4% in November 2024, compared to the same period in 2023. According to the data released by the General Authority for Statistics, the industrial production index surged to 103.78 points in November 2024, based on the 2021 base year, compared to 100.37 points in November 2023. This rise is reflective of the steady strides Saudi Arabia is making towards diversifying its economy, as outlined in the Vision 2030 plan, and is indicative of the health of various industrial sectors. The increase in the general index of industrial production can be attributed to growth across several key sectors. Notably, mining and quarrying, manufacturing activities, water supply and sanitation, and waste management and treatment activities have all contributed to this positive trend.