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Energy Secretary Rick Perry Confirms KSA One of 16 Countries Approved for Unclassified Civil Nuclear Technology
- March 29,2019
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- SUSTG Team
The Trump administration has approved seven applications for U.S. companies to sell nuclear power technology and assistance to Saudi Arabia, but did not reveal the particular companies or specifics of those authorizations, the Energy Department said Thursday. Energy Secretary Rick Perry told the Senate Armed Services Committee that the seven applications approved were among 37 […]
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Saudi Aramco Agrees to Buy 70% Stake in SABIC from Kingdom’s Public Investment Fund
- March 28,2019
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- SUSTG Team
Saudi Arabia’s national oil company Saudi Aramco has agreed to buy a 70% stake in Saudi Basic Industries Corporation (SABIC), the kingdom’s leading petrochemical firm, for $69.1 billion in a private transaction, SABIC said in a press release. The move continues Saudi Aramco’s plans to diversify away from oil to “generating more of its profits […]
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Saudi Arabia plans 2.6 GW solar park near Mecca
- March 27,2019
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- SUSTG Team
Saudi Arabia is set to issue tenders for 2.6 GW Mecca solar project in 2019, according to reports. The Faisaliah Solar Power Project is planned to be developed in several stages by the Saudi Ministry of Energy, Industry and Mineral Resources and the Development Authority of Mecca. Construction work on the project will begin this year, […]
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PIF-backed Uber Technologies Buys Regional Rival Careem for $3.1 Billion
- March 26,2019
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- SUSTG Team
It’s the biggest tech deal the Middle East region has ever seen. Uber Technologies, Inc. is buying regional ride-sharing rival Careem for $3.1 billion, $1.7 billion in convertible notes and $1.4 billion in cash. Dubai-based Careem successfully rivaled Uber in Saudi Arabia and other parts of the Middle East region, amassing 30 million users across 90 […]
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King Salman Announces New Governor of the General Authority for Foreign Trade in Weekend Royal Orders
- March 25,2019
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- SUSTG Team
Custodian of the Two Holy Mosques King Salman issued several royal orders on Saturday appointing a number of officials to positions, including appointing Abdulrahman Al-Harbi to be the first governor of the General Authority for Foreign Trade. Al-Harbi is serving as Deputy Minister for Foreign Trade and Investment in Saudi Arabia’s Ministry of Commerce and Investment. The […]
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Oil Notches Third Straight Week of Gains, but Global Economy Fears Still Weigh on Prices
- March 22,2019
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- SUSTG Team
Concerns that a looming economic slowdown might soon impact fuel consumption around the world are weighing down oil prices after Saudi Arabia and the OPEC+ group of oil producing nations have successfully reversed a downward trend for oil since the start of 2019. Brent hit a four-month high of $68.69 per barrel on Thursday, up from $51 […]
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Saudi Tourism Officials Eye $20b Investment for Al-Ula, with Roadshow Planned for This Year – Report
- March 21,2019
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- SUSTG Team
A recent report in Reuters revealed Saudi Arabia’s big ambitions for Al-Ula, in the northwestern corner of the kingdom that was a key site for an ancient civilization and is near to the future planned city NEOM. Saudi Arabia is targeting up to $20 billion of investments through 2035 for a planned landmark tourism destination and will hold a global investor […]
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950,000 SMEs Registered in Saudi Arabia — Jadwa Investment
- March 20,2019
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- SUSTG Team
A recent report by Jadwa Investment highlights the progress being made in the development of Small and Medium-Sized Enterprises (SMEs) in Saudi Arabia and the significance that these crucial elements of a diverse economy can have on sustainable growth in the Kingdom. Saudi Arabia is focusing on SME development with its Vision 2030 social and […]
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King Salman Announces $23 Billion for Four Entertainment Projects Including the ‘World’s Biggest Park’ in Riyadh
- March 19,2019
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- SUSTG Team
Saudi Arabia is planning to build the “world’s biggest park” as part of a $22.9bn project that aims to create large open green areas in Riyadh while creating thousands of new jobs, according to the Saudi Press Agency and other news outlets. The project consists of four entertainment projects in Riyadh, which are currently in the design phase, according […]
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Inflows Surge as Tadawul Upgrades to Inclusion in FTSE Russell and S&P Dow Jones Emerging Market Indices
- March 18,2019
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- SUSTG Team
Saudi Arabia’s stock exchange, the Tadawul, began the first phase of inclusion into the FTSE Russell and S&P Dow Jones Indices (S&P DJI), which is expected to lead to billions in inflows into the country and represent a milestone for Saudi authorities as the country continues to open up to investment. Inclusion of Saudi Arabia into the FTSE Russell […]
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MUST-READS
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Hajj 2019Saudis deploy over 350,000 people to serve Haj pilgrims
He also revealed that more than 1.64 million Haj pilgrims had arrived in the Kingdom as of Monday, the Saudi Press Agency, SPA, reported on Monday.
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U.S. CongressU.S. lawmakers still plot to push Saudi Arabia on rights, despite Trump
There are several other pieces of legislation - including 18 more resolutions to block weapons sales - making their way through the Senate or House of Representatives as some lawmakers still hope to push Trump toward stronger action against Riyadh.
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AIGCC leads in allocating funds for AI deployment
The top three applications for investment included data analytics, machine learning and managing administrative workflow.
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Gulf SecurityOman’s top diplomat in Iran talks amid mounting Gulf tensions
Oman’s foreign ministry said on Twitter the two ministers discussed stability and security in the region and freedom of navigation in the Strait of Hormuz, shared by the two countries and which is the only route in and out of the Gulf.
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HealthcareVIDEO: Saudi Arabia investigates hospital employees after feud
Saudi Arabia's Ministry of Health launched an immediate investigation on Thursday into the case of a medical professional who was filmed scolding a nurse in a public hospital in Muhayil city.
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Red Sea ProjectExploring The Red Sea Project’s construction with John Pagano – Projects & Tenders
Envisioned as a resort destination built across a lagoon of more than 90 untouched natural islands, the gigaproject will be located minutes from the kingdom’s Red Sea Coast, between the cities of Umluj and Al Wajh. It is being developed by The Red Sea Development Company
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TurkeyTurkish diplomat ‘shot dead’ in Iraqi Kurdistan
A Turkish diplomat has been shot dead in the Iraqi Kurdish city of Irbil, security sources tell the BBC. The victim was reportedly Turkey's deputy consul in the city. He was among several people dining at a restaurant when gunmen opened fire.
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Israel-PalestineThe provocations of Trump’s ambassador to Israel are upturning decades of U.S. diplomacy
Friedman, one of Trump’s earliest ambassadorial appointments, has been the prime mover behind a string of new U.S. tactics and positions, helping to engineer the most significant shift in American policy toward Israel and Palestinian Arabs since the establishment of Israel in 1948. In any other American administration, Friedman would be reined in for going rogue.
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Iraq3 killed in twin bomb explosions in central Iraq
A total of three people were killed and three others injured on Tuesday in two coordinated roadside bomb explosions in a town in Iraq's central province of Salahudin, a provincial police source said. The first roadside bomb went off before the mid-day near a drinking water facility in the town of Shirqat, some 280 km north of the Iraqi capital Baghdad, leaving a civilian killed, Mohammed al-Bazi from Salahudin's Police Command told Xinhua.
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LaborHow mega projects can tackle soaring Saudi unemployment trends
Aramco bond proceeds and the possible finalization of the Aramco-SABIC megadeal are seen as a stepping stone in achieving Saudi Arabia's Vision 2030 targets, specifically in creating sustainable employment opportunities over the medium-term.
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