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Fintech Saudi Releases National Fintech Adoption Survey Results in 5 Areas
- August 10,2021
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- SUSTG Team
Fintech Saudi, an initiative launched by the Saudi Central Bank (SAMA) in partnership with the Capital Market Authority (CMA), has announced the results of the National Fintech Adoption Survey, a first of its kind measurement in Saudi Arabia of the people’s interest in adopting fintech solutions.
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Daily New COVID-19 Cases in Saudi Arabia Fall Below 1,000 for First Time in Two Months
- August 6,2021
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- SUSTG Team
Daily new COVID-19 cases in Saudi Arabia fell below the 1,000-mark on Thursday for the first time since June 6, according to official figures, with 986 individuals infected over the past 24 hours.
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Saudi Mortgage Lending Surges 27% in First Half of 2021 — SAMA Data
- August 3,2021
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- SUSTG Team
Residential mortgage financing in Saudi Arabia has soared in 2021, increasing 27% so far this year despite a slowdown in the 2nd quarter, according to recent data released by the Saudi Arabian Monetary Authority (SAMA) and reported by Zawya.
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Jadwa Chartbook: Oil Prices Continue Climb for Third Straight Month, Benefitting Saudi Economy
- August 2,2021
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- SUSTG Team
A third straight monthly gain for oil is benefitting the Saudi economy, as SAMA FX reserves rose in June by $8.8 billion month-on-month and the non-oil PMI was unchanged at 56.4, indicating continued growth, a recently-released monthly Chartbook by Jadwa Investment for the month of June notes.
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Saudi PPP to Invest $15 Billion in New Technology Fund – Report
- July 29,2021
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- SUSTG Team
A Saudi public-private partnership will launch a $15 billion technology fund “to advance the digital infrastructure in the Kingdom,” a report in Arab News said, based on an announcement at a conference in Riyadh on Wednesday.
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Finance, Insurance Sectors in Saudi Arabia Latest to Move Toward 100% Saudization
- July 28,2021
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- SUSTG Team
The finance and insurance sectors in Saudi Arabia will move toward implementing total Saudization with the hiring of Saudi nationals in as many as 91,000 jobs that are currently occupied by non-Saudis, according to a report from the local Okaz/Saudi Gazette.
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Saudi Arabia’s Rock Art Complex Hima Gets Sought-After UNESCO World Heritage list Designation
- July 27,2021
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- SUSTG Team
Hima, one of the largest rock art complexes in the world located in Saudi Arabia, has landed on UNESCO’s World Heritage list, the sixth such location in the Kingdom to receive the sought-after designation, according to reports. Entered into UNESCO’s listings as the Ḥimā Cultural Area, the incredible rock art is located in an arid, mountainous area of […]
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Saudi Arabia Suspends Privatization of the $2 Billion Ras Al Khair Desalination and Power Plant – Reports
- July 26,2021
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- SUSTG Team
Saudi Arabia has suspended the privatization plans for the Ras Al Khair desalination and power plant, valued at an estimated $2 billion, according to reports.
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Ivory Coast beat Saudi Arabia 2-1 in Kingdom’s Olympic Soccer Opener
- July 22,2021
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- SUSTG Team
The Ivory Coast beat Saudi Arabia 2-1 in the Kingdom’s opening Olympic soccer match on Thursday in Yokohama, Japan. Ivory Coast’s Franck Kessie scored the go-ahead goal in the 66th minute in a disappointing start for the Kingdom’s Tokyo dreams. On the Saudi side, Salem Al-Dossari scored the Kingdom’s lone goal in the match.
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Saudi Arabia Steps Up Pressure on Residents to Vaccinate with New Restrictions on Public Spaces
- July 21,2021
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- SUSTG Team
Saudi Arabia is stepping up pressure on its citizens and residents to receive both doses of a COVID-19 vaccine with a new announcement confirming that most public spaces, malls, and other areas will be open to only those who are vaccinated, according to Arab News.
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MUST-READS
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Neutral ZoneKuwait and Saudi Arabia start work to resume oil output from Khafji: sources
Kuwait and Saudi Arabia have started preparation work to resume crude oil production from the al-Khafji oilfield jointly operated by the two countries, with initial output expected around the end of February, two industry sources said.
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Art and CultureDesert X Al Ula puts Saudi Arabia’s historic site on international arts map
Desert X began as a biennial in southern California, bringing visitors through the Coachella Valley in search installations, sculptures, and performances. Now, for the Royal Commission for Al Ula (RCU)’s first major contemporary art project for the heritage site, Desert X Al Ula commissions 14 Saudi and international artists to make artworks in the sand.
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TechnologySaudi Arabia’s start-ups hit record number of deals and funding in 2019
Investments in budding businesses in the kingdom surged 92 per cent with 71 transactions recorded last year and the value of total investments rising 35 per cent to $67 million (Dh246m), according to a new report from start-up data platform Magnitt. The kingdom climbed one notch to rank third in the Middle East and North Africa in terms of number of deals and investments, following the UAE and Egypt.
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EarthquakeSmall Earthquake hits Saudi Arabia, Iran
In Saudi Arabia, the earthquake was recorded at 10:27 pm local time. The magnitude of the quake was 3.9 on Richter scale.
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PowerSEC to roll out smart meters in Saudi Arabia next month
Saudi Electricity Company (SEC) has revealed that it will soon launch the first phase of the smart metering project. Old smart meters will be replaced with new smart meters starting February. In the second phase, meters will be linked to telecom systems, presumably to users’ smartphones, before being linked to the billing systems in the third and final stage.
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EconomySaudi Arabia Escapes Deflation Just Barely as Cycle Turns: Chart
Saudi inflation crawled above zero in December for the first time in a year, ending an unprecedented stretch of price declines made worse by a slump in housing costs. A pickup in the non-oil economy is likely to keep up price pressures after the headline figure ticked up as food inflation doubled last month. A diminishing drag from housing, coupled with stronger domestic demand, should push Saudi inflation further into positive territory throughout this year, according to Ziad Daoud of Bloomberg Economics.
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Desert XDesert X AlUla—the inaugural sculpture biennial in a historic Saudi Arabian valley—announces participants
Fourteen artists including five Saudi nationals will take part in the inaugural Desert X exhibition launching in the vast AlUla region in northwest Saudi Arabia later this month (31 January-7 March).
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Contemporary ArtSaudi Arabia’s Ithra Mirror Exhibit is Defining the Rising Saudi Art Scene
At a national level, we see Ithra as a partner. On a global level, we see Ithra as a bridge to Saudi culture and even global culture.
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AviationSaudi Arabia starts trial operations at new Arar airport
The first flights have taken off from the new Arar airport in the far north of Saudi Arabia. As part of a trial operation, the new airport is being served by Saudi Arabian Airlines with flights initially to and from Riyadh. The General Authority of Civil Aviation (GACA) has revealed the number of flights will be increased and, in the coming weeks, the airport will receive more destinations through the national carrier from Riyadh and Jeddah.
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PowerChinese state grid company signs US$1.1bn smart meter contract with Saudi Arabia
State Grid Corporation of China (SGCC) has won a US$1.1 billion contract to install smart meters in Saudi Arabia. China Electric Power Equipment and Technology Company, a wholly owned subsidiary of the state-owned enterprise, officially signed the contract with Saudi Electricity Company on Thursday in Riyadh, SGCC said.
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