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Mashable Review: ‘The Lucid Air is the Future of Cars’
- October 1,2021
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- SUSTG Team
Lucid Group, Inc., the electric car maker backed by Saudi Arabia’s Public Investment Fund (PIF), recently gave a sneak peak of its forthcoming Lucid Air Dream Edition to a small group of media representatives at its main factory in Casa Grande, Arizona. One of those media people, Chris Taylor from Mashable, gave the car a […]
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Unemployment Among Saudi Citizens Hits Lowest in the Decade as Economy Continues Recovery
- September 30,2021
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- SUSTG Team
Unemployment of Saudi citizens dropped to 11.3% in the second quarter of this year, the lowest in a decade, according to the government’s General Authority for Statistics, as signs continue to mount that the Saudi economy is continuing to recover from the global pandemic.
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ACWA Sets IPO Price at Top End of Range; Mulls Green Bond Options in 2022
- September 29,2021
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- SUSTG Team
Saudi Arabia’s ACWA Power International, one of the Kingdom’s main vehicles for building renewable energy projects, has set the offer price for its IPO at the top of a range, Bloomberg reports. According to that report, ACWA Power International will sell shares at 56 riyals ($14.93) apiece after the institutional part of the offering ended, and will raise $1.2 billion for […]
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U.S. National Security Adviser Jake Sullivan Visits Saudi Arabia, Meets with Crown Prince Mohammed bin Salman
- September 28,2021
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- SUSTG Team
President Joe Biden’s national security adviser, Jake Sullivan, visited Saudi Arabia on Monday and met with Crown Prince Mohammed bin Salman, according to reports.
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Diriyah Contemporary Art Biennale, First of its Kind in Saudi Arabia, Announces Artists
- September 24,2021
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- SUSTG Team
The upcoming Diriyah Contemporary Art Biennale – the first art event of its kind to be held in Saudi Arabia – announced participating artists for the exhibition called Feeling the Stones, according to a report in The Art Newspaper. The event is scheduled to take place starting December 11 and running for three months, concluding March 11, 2022.
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Saudi Arabia Celebrates 91st National Day in Kingdom with Patriotic Airshows, Events and Fireworks
- September 23,2021
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- SUSTG Team
Saudi Arabia is celebrating its 91st Saudi National Day today, marking the formation of the modern-day Kingdom with the unification of the Nejd and Hejaz by King Abdulaziz Al-Saud in 1932. The Kingdom’s version of the 4th of July will be celebrated this year under the slogan “A Home for Us.”
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Residential Mortgages Soar in Saudi Arabia; Commercial Rents in Riyadh See Post-Pandemic Recovery
- September 21,2021
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- SUSTG Team
Roughly five years after the launch of the Kingdom’s National Transformation Plan (NTP), a key part of the Saudi Arabia’s Vision 2030 social and economic masterplan, Saudi is seeing major initial progress in the real estate sector, with new residential mortgages soaring 1000% since 2016, according to a report from industry powerhouse KnightFrank.
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SABIC, Exxon Mobil JV on Gulf Coast Prepares for Initial Startup – Report
- September 20,2021
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- SUSTG Team
Saudi petrochemicals firm SABIC said on Sunday its joint venture project with ExxonMobil in the U.S. Gulf Coast has started commissioning activities and preparing for an initial startup, according to Reuters.
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U.S. State Department Approves Potential $500 Million Saudi Maintenance Deal
- September 17,2021
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- SUSTG Team
The U.S. State Department has approved a potential agreement covering up to $500 million in military support services for Saudi Arabia, the first since President Biden took office on January 20. The agreement has been sent to Congress for review, the Pentagon said on Thursday.
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Crown Prince Launches Major Education Reform with ‘Human Capability Development Program’
- September 16,2021
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- SUSTG Team
Saudi Arabia is set to undertake a top-to-bottom overhaul of the Kingdom’s education system to better prepare citizens to find jobs and tackle intolerance, according to an announcement on the Vision 2030 website and other reports.
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MUST-READS
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Squire Patton Boggs partners with Saudi law practice for new Riyadh office
International law firm Squire Patton Boggs said Wednesday that it has signed a cooperation agreement with a Saudi Arabia law office as it prepares to take advantage of new regulations for foreign law firms in the kingdom. The firm said it was partnering with The Law Office of Looaye M. Al-Akkas, a 10-lawyer practice located in Riyadh. Al-Akkas will become a partner at Squire Patton Boggs. Squire Patton Boggs' chair and global CEO Mark Ruehlmann in a statement noted Al-Akkas' membership on the board of the Saudi Bar Association, calling him a "highly respected member of the legal community."
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Japan startup APB signs next-gen battery partnership with Saudi Aramco
Japanese battery startup APB has announced it has partnered with world’s largest oil firm, Saudi Aramco, to jointly develop materials for next-generation lithium-ion batteries and introduce them to global markets. Fukui-based APB says that safer and low-cost all-polymer batteries will play a crucial role in decarbonization, and that it is building a pilot production line at its Fukui plant to prepare for mass production in the fiscal year beginning April 2026.
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Saudi nationals and residents eligible for e-visa to Japan starting Monday
The embassy of Japan in Saudi Arabia recently announced that all Saudi nationals and people who reside in Saudi Arabia will be eligible to apply for a visa to Japan electronically; prior to that announcement, applications had to be done in the Japanese embassy or consulate. Other than speeding up and streamlining the application process, this new decision will further enhance bilateral relations between both countries and facilitates entry and exit for all purposes.
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Chart: Renewables Surpass Coal in U.S. Electricity Generation
For the first time, more electricity was generated from renewable sources in the U.S. over the course of one year than from coal. In 2022, renewable energy sources created more than 900 terawatt-hours of electric power in the country compared to a little over 800 that came from coal. On a global scale, a similar change is coming - renewables are projected to outweigh coal electricity generation by 2027.
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EV startup Lucid to cut about 18% of its workforce
Lucid, which had about 7,200 employees at the end of last year, will incur between $24 million and $30 million in related charges. The company expects to substantially complete the restructuring plan by the end of the second quarter. "We are also taking continued steps to manage our costs by reviewing all non-critical spending at this time," Rawlinson said.
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Commentary: As longterm partnership with US fades, Saudi Arabia seeks to diversify its diplomacy
The Saudi deal with Iran and choice of China as an intermediary is consistent with a deeper shift in Saudi foreign policy, which has been evident for some time. By adapting to changing circumstances, Mohammed bin Salman is looking to Saudi Arabia’s future and trying to strike a wider balance of power in what he sees as an eventual “post-American” Gulf.
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Chart: Trust in Institutions Has Diminished in Israel
As seen in an annual survey by The Israel Democracy Institute, Israelis’ trust in the state’s institutions has been deteriorating for some years, with only 35 percent of people in the country saying they trusted institutions quite a lot or very much in 2022, down from a high of 61 percent in 2012.
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US Recalls F-15, F-16 Fighters From The Middle East To Fight China & Russia; Could Replace Them With A-10 Warthogs
According to the Wall Street Journal (WSJ), the A-10s, likely to be deployed in the Middle East by April, are part of a broader plan to have “modest” ground and naval forces under CENTCOM. Confronting Moscow and Beijing will need maximum military resources – air, land, and naval – and the Middle East is gradually calming down, possibly requiring less US intervention.
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Who’s Who: Abdulrahman K Justaniah, first Saudi partner at global strategy consulting firm Kearney
Justaniah joined in January 2022 while being part of the strategic operations practice and supporting the firm’s growth in the region. He has been part of many of the transformational projects in the Kingdom supporting clients as a trusted adviser.
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Inside Georgina Rodríguez’s glamorous new life in Saudi Arabia: Cristiano Ronaldo signed a multimillion-dollar Al Nassr deal, moved countries – and his partner is already a Gulf Kingdom style icon
Enter 2023 and the family – Ronaldo, Rodríguez, their daughters Alana and Bella, as well as Cristiano Jr. (whose mother’s identity has never been revealed) and twins Eva and Mateo (who Ronaldo had with an American surrogate) all moved to Saudi Arabia.
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