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Saudi Arabia’s Tourism Ambitions Expand to Mountainous Asir Province
- February 25,2021
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) launched a new venture that will invest $3 billion in developing tourism and infrastructure in the southwestern mountainous Asir region, according to Reuters and Saudi Arabia’s official press agency.
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Despite Uncertainty, Saudi Economy to Experience Broad-Based Recovery in 2021 – Jadwa Investment
- February 24,2021
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- SUSTG Team
Saudi Arabia will experience a broad-based economic recovery in 2021 as the Kingdom moves beyond the damage caused by the Coronavirus pandemic and low oil prices, Jadwa Investment said in a recent research note. The Riyadh-based bank’s expectations for the Kingdom’s economy come despite a “considerable degree of uncertainty” surrounding the Coronavirus and vaccination roll-outs across […]
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BofA Revises Upward 2021 Brent Oil Price by $10 a Barrel – Report
- February 23,2021
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- SUSTG Team
Bank of America (BofA) Global Research has hiked its forecast for Brent crude oil prices for this year, citing tighter supplies due to the Texas freeze and OPEC+ output curbs and unmatched global monetary stimulus, Reuters reports, citing a research note from the bank.
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Saudi Arabia’s PIF Significantly Increases Investments in U.S. Markets, Wins Big on Live Nation
- February 22,2021
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) significantly increased its holdings and investments into U.S. companies in the fourth quarter (Q4) of last year, public filings made public last week show, after slashing its exposure in Q3. The PIF’s total investments in the U.S. market reached $12.8 billion in the fourth quarter last year, up from $7 billion […]
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Secretary of Defense Lloyd J. Austin III, Crown Prince Mohammed bin Salman Speak by Phone
- February 19,2021
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- SUSTG Team
On February 18, Secretary of Defense Lloyd J. Austin III spoke by phone with Crown Prince and Minister of Defense Mohammed bin Salman to “reaffirm the strategic defense partnership between the United States and the Kingdom of Saudi Arabia,” the Pentagon said in a readout of the call.
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U.S. Treasury Secretary Janet Yellen, Saudi Finance Minister Mohammed Al-Jadaan Speak by Phone to Discuss Coronavirus, Economic Recovery
- February 18,2021
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- SUSTG Team
U.S. Treasury Secretary Janet Yellen and Saudi Finance Minister Mohammed Al-Jadaan discussed the coronavirus pandemic and other issues during a call on Wednesday, the U.S. Treasury Department said. The call is the first between the two finance chiefs after Yellen’s approval as President Joe Biden’s Secretary of the U.S. Treasury.
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After Steady Rise in Oil Prices, Saudi Arabia Plans Production Increase – Report
- February 17,2021
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- SUSTG Team
Saudi Arabia, the world’s largest oil producer, plans to increase oil output in the coming months as a nearly year-long recovery in oil prices is giving the Kingdom confidence that the market has improved enough to reverse a recent big production cut, the Wall Street Journal reports.
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Saudi Arabia to End Contracts with Foreign Companies Without a Regional HQ in the Kingdom After 2023
- February 16,2021
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- SUSTG Team
Saudi Arabia announced on Monday that it will stop signing contracts with foreign companies from 2024 unless their regional headquarters are based in the Kingdom, part of a push to give more of the Kingdom’s economic opportunities to countries that will hire local talent and compete with neighboring cities in other Gulf nations.
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Saudi Arabia Fends Off Houthi Attacks on Civilian Targets, Will Continue to Treat Houthis ‘As a Terrorist Organization’
- February 15,2021
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- SUSTG Team
Yemen’s Houthi group said on Monday it had struck Saudi Arabia’s Abha and Jeddah airports with drones, knocking operations offline at the two international airports for two hours in a continuation of seemingly relentless attacks aimed at civilians. The Houthis confirmed the attacks on their Twitter account, according to Reuters. There was no Saudi confirmation […]
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Dazzling Designs Revealed for a ‘Coral Bloom’ Concept at Saudi Arabia’s Red Sea Project’s Main Hub Island at Shurayrah
- February 12,2021
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- SUSTG Team
Saudi Arabia this week unveiled a new, visionary design and plans for the Red Sea project’s main hub island at Shurayrah, a “Coral Bloom” concept created by world-renowned architecture firm Foster + Partners.
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MUST-READS
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QiddiyaConstruction on Saudi Arabia’s 334km² Qiddiya to start in 2019
The project – located 40km from the Saudi capital Riyadh – is more than double the size of Walt Disney World Orlando in Florida. With this in mind, investors are banking on the project making an attractive entertainment proposition for domestic, regional, and international visitors.
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AFC Asian CupJuan Antonio Pizzi delighted to see Saudi Arabia get Asian Cup campaign off to winning start
The three-time continental champions kicked off their Group E campaign with a convincing 4-0 win at Dubai’s Rashid Stadium. Their plight was helped somewhat by North Korea, already 2-0 down, playing the entire second half with 10 men.
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SecuritySaudi Arabia participates in forum against terrorism
Saudi Arabia, represented by Mohammed bin Naif Center for Counseling and Care and General Directorate of Combating Extremism of the Ministry of Interior, took part in a workshop organized by the 9th session of the Global Counterterrorism Forum held in Melbourne, Australia.
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EntrepreneurshipLaying Out ArabNet’s Innovation Report: A Look At Saudi Arabia’s Tech Startup Scene
The Saudi Arabian tech startup scene is continuously on the rise compared to the MENA ecosystems. A year ago, ArabNet dove into the Kingdom’s ecosystem and launched a detailed report, titled KSA Innovation Economy: Tech Startup 2017. Its aims were to highlight the gaps and strengths of the ecosystem in order to provide anyone interested in investing or launching incubators, accelerators, and mentorship programs with a clear database.
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Khashoggi CrisisSenators introduce ‘mainly symbolic’ bipartisan resolution to blame Saudi Arabia for Jamal Khashoggi’s death
The resolution, which is mainly symbolic, says Saudi Arabia's crown prince is "complicit" in the killing.
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Saudi StartupsSaudi Arabia’s tech startup ecosystem may be nascent, but is rapidly evolving to support economic growth
Saudi Arabia’s fundamental challenge is to transfer talent to private-sector employment and to tech entrepreneurship. The drive to promote private-sector employment, especially entrepreneurship, demands a radical shift in the mindset of the young as well as that of their communities.
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Housing and Real EstateSaudi Arabia to build 19,000 homes as part of Sakani scheme
Saudi Arabia will build a total of 19,359 residential units for its citizens as part of its major housing development programme Sakani.
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Saudi Oil PolicySaudi Arabia, OPEC’s Anchor, Ponders a Future Without the Cartel
It is intended to determine how the global oil market, and Saudi finances, would look “if coordination between oil producing countries disappear,” according to the overview.
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WWE in KSAJohn Cena won’t take part in WWE’s Crown Jewel in Saudi Arabia
Crown Jewel, which is set to take place at Riyadh's King Saud University Stadium, is also scheduled to feature several of the company's other high-profile legends.
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Arab EntrepreneursTop 100 Startups In The Arab World 2018
For the second consecutive year, Forbes Middle East reveals its annual list of Top 100 Startups In The Middle East that rounds up companies offering innovative solutions to some of the challenges that the region’s businesses and consumers face.
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