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In Latest Saudi Labor Figures, Women Lead Overall Drop in Unemployment
- April 21,2021
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- SUSTG Team
A recently-released report on the Saudi labor market, using figures from Q4 2020, showed a sizable drop in unemployment among Saudis from the previous quarter, according to Jadwa Investment, citing official government data. The General Authority for Statistics’ (GaStat) latest labor market release shows that unemployment in Saudi Arabia declined 2.3%, to 12.6% in Q4 2020, down […]
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Saudi Arabia Red Sea Development Co. On Track to Clinch $3.7 ‘Green Loan’ from Local Banks
- April 20,2021
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- SUSTG Team
Saudi Arabia could be just weeks away from clinching the first significant funding package for a key part of Crown Prince Mohammed bin Salman’s program to diversify the Kingdom’s economy, Bloomberg reports. The Red Sea Development Co.’s 14 billion-riyal ($3.7 billion) loan is set to close with a small group of local banks including Saudi National […]
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Ramadan Moon Seen in Saudi Arabia, Holy Month Begins Tuesday
- April 13,2021
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- SUSTG Team
The Ramadan crescent moon has been sighted in Saudi Arabia, meaning the holy month will officially begin on Tuesday, April 13, according to an official announcement from the Kingdom’s Supreme Court.
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Saudi Arabia’s First Major Wind Farm Reaches Milestone as Renewables Push Continues
- April 12,2021
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- SUSTG Team
Saudi Arabia’s Dumat Al Jandal wind farm, its first major wind energy installation and part of a broader mix of national renewable energy solutions, has reached the 50 percent completion mark, according to reports.
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Crown Prince Mohammed bin Salman Opens Sakaka Solar Plant; Announces 7 More Projects
- April 9,2021
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman announced the opening of the Sakaka solar power plant on Thursday, and said that agreements have been signed for seven more solar power projects throughout the Kingdom, according to reports.
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Saudi Arabia’s Stock Market Revamps Corporate Structure Ahead of Highly-Anticipated IPO
- April 7,2021
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- SUSTG Team
Saudi Arabia’s stock exchange, the Tadawul, has announced a revamped corporate structure as it prepares for a much anticipated IPO, converting to a holding company called the Saudi Tadawul Group, according to reports. The change was announced by the Tadawul Group CEO Khalid al-Hussan said on Wednesday.
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Jadwa Investment Launches $266m Fund to Invest in Riyadh’s Real Estate Market
- April 6,2021
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- SUSTG Team
Saudi Arabia’s Jadwa Investment has reportedly launched a $266m fund to invest in Riyadh’s real estate market, hoping to develop more than 1,500 residential units through several apartment complexes, targeting mid- to high-income households, the UAE-based The National reports.
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Vice Media Group to Partner with SRMG, Open Office in New Trendy Arts and Culture District in Riyadh
- April 2,2021
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- SUSTG Team
Edgy global media brand VICE Media Group today unveiled the expansion of its commercial operations into Riyadh with the launch of a new local office and partnership with top Saudi media brand, the Saudi Research and Marketing Group (SRMG).
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Could Saudi Arabia’s Recycling Sector Be Worth More than $18bn?
- April 1,2021
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- SUSTG Team
The CEO of Saudi Arabia’s biggest waste company, Saudi Investment Recycling Company (SIRC), said that the Kingdom’s recycling market size could reach $18 billion as the sector remains underdeveloped, according to a report Arab News.
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Unemployment for Saudi Nationals Nears Pre-Pandemic Levels in Q4 2020
- March 31,2021
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- SUSTG Team
Unemployment among Saudi nationals fell to 12.6% in the fourth quarter, “moving closer to pre-pandemic levels as coronavirus cases in the kingdom declined and business picked up,” Bloomberg reports, citing data from the General Authority for Statistics. The figure represents a drop of 2.3% from 14.9% in the Q3 2020.
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MUST-READS
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EntertainmentFirst Art House Cinema Opens in Saudi Arabia
Saudi Arabia has welcomed its first art house cinema. The open-air Elhoush Cinema — which can seat 75 people — opened to a packed house Tuesday night in the coastal city of Jeddah with the screening of Stanley Kubrick's groundbreaking epic 2001: A Space Odyssey.
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TaxationSaudi Arabia to Start Levying Sugary Drinks Tax in December
Saudi Arabia will begin implementing a new excise tax on sweetened drinks from Dec. 1, according to the official gazette, as the kingdom seeks to boost non-oil revenue. The General Authority of Zakat and Tax is expanding a levy charged on tobacco and soda to include electronic cigarettes and all drinks with added sugar. Authorities have said the latter will be taxed at 50%.
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Art and Culture‘Nafthah’ — an art exhibition on the history of oil in Saudi Arabia
The Ministry of Culture will organize an extraordinary art exhibition that looks at the cultural impact that oil has left on the history of Saudi Arabia.
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U.S.-SaudiTrump Allows High-Tech U.S. Bomb Parts to Be Built in Saudi Arabia
The emergency authorization allows Raytheon Company, a top American defense firm, to team with the Saudis to build high-tech bomb parts in Saudi Arabia. That provision, which has not been previously reported, is part of a broad package of information the administration released this week to Congress.
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WWE in KSA2019 WWE Super ShowDown matches, card, start time, date, predictions, location, Saudi Arabia PPV
With Super ShowDown just days away now, the match card has completely taken shape. And WWE is trying not to disappoint, with a showdown featuring two legends who have yet to ever meet one another already on tap as well as a battle royal the size of which the company has never seen before.
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FinTechSaudi Arabia’s central bank licences 14 new fintech startups
Saudi Arabia’s central bank has issued trading licences to 14 new fintech startup companies. All of the newly licenced fintech startups operate in either the lending space or in the payments space.
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Israel-PalestineSaudi Arabia, UAE will participate in peace plan workshop
Saudi Arabia and the United Arab Emirates will send representatives to an economic workshop in Bahrain next month meant to be the first phase of President Donald Trump's peace plan for Israel and the Palestinians.
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Drone AttacksSaudi Arabia has restarted oil pipelines after Iran-backed rebel attack
The targeted pipeline carries crude 746 mi (1,200 km) between the Persian Gulf and Red Sea, enabling the Saudis to ship oil from both sides of the country.
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NovartisNovartis sees Saudi Arabia as promising market for producing its cancer drugs
It will find plenty of competition from other Western drugmakers that got there first. Pfizer two years ago opened a $50 million, 11,108 -square-meter (119,565-square-foot) manufacturing and packaging facility in the kingdom. It was slated to produce cardiovascular, pain, anti-infective, urology and neurology products.
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Islamic BondsSaudi Arabia to issue $3 billion-$5 billion in international sukuk by third quarter – DMO chief
audi Arabia will issue $3 billion (£2 billion) to $5 billion in new international sukuk, or Islamic bonds, around the third quarter as part of plans to diversify financing of the national budget deficit, a senior finance ministry official told Reuters.
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