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Report: U.S. Exploring New Bases, Access in Saudi Arabia to Counter Iran Threat
- January 26,2021
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- SUSTG Team
The U.S. military is “exploring the possibility of using a Red Sea port in Saudi Arabia and an additional two airfields in the kingdom” amid heightened tensions with Iran, the military said Tuesday, part of a preliminary agreement reached between the U.S. and Riyadh, according to several reports.
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Saudi Arabia’s Public Investment Fund Launches 5-Year Strategy, Including VRP Program for 2021-2025
- January 25,2021
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) announced a new five-year investment strategy, including its own Vision Realization Program (VRP) 2021-2025, with the goal of doubling its assets to 4 trillion riyals ($1.07 trillion) by 2025, according to comments made by Crown Prince Mohammed bin Salman in a public appearance on Sunday.
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Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan Voices Optimism with U.S.-Saudi Relations under Biden Administration
- January 22,2021
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- SUSTG Team
Saudi Arabia’s foreign minister has voiced optimism that relations between Riyadh and Washington will be “excellent” under new U.S. President Joe Biden, Al-Arabiya TV channel cited him as saying on Thursday. Appointments made by Biden show “understanding of the common issues” by the new U.S. administration, Prince Faisal bin Farhan added.
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List of World’s Top Golfers Competing at Third Saudi International Grows as Kevin Na Commits
- January 21,2021
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- SUSTG Team
The field of competitors for next month’s Saudi International powered by Softbank Investment Advisers is growing as another top golfer in the world has joined some of the sports biggest names confirmed to compete in Saudi Arabia. Five-time PGA Tour winner Kevin Na, who won the PGA Tour’s Sony Open in Hawaii on Sunday, is […]
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First American Chamber of Commerce Established in Riyadh; ABGR Becomes AmCham KSA
- January 20,2021
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- SUSTG Team
The American Business Group of Riyadh (ABGR) has formally become part of the global network of the American Chambers of Commerce with the announcement that the group will now be known as the American Chamber of Commerce in Saudi Arabia (AmCham KSA), the first such establishment of its kind in the Kingdom.
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As Thaw Continues, Broadcasts by Qatar-based beIN Sports TV Channel Appear on Saudi TVs, Witnesses Say
- January 19,2021
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- SUSTG Team
Qatar-based TV channel beIN Sports was broadcast in Saudi Arabia on Monday after the two countries reconciled this month, ending a rift of more than three years, according to Reuters. The sports channel was barred from broadcasting in Saudi Arabia since mid-2017, when relations between the two countries were suspended, and was even the subject of international litigation between […]
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After Strong Finish in 2020, Oil Likely to Continue Steady Comeback in 2021 — Jadwa Investment
- January 18,2021
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- SUSTG Team
After a strong finish to 2020, oil demand will continue rising in Q1 and during the rest of the year on a quarterly basis, but still end up 3 percent lower than pre-COVID-19 levels by the end of 2021, a recent report by Jadwa Investment on the market said.
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Saudi Arabia’s New Open Banking Policy to Turbocharge Digital Innovation
- January 15,2021
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- SUSTG Team
Saudi Arabia’s central bank, the Saudi Arabian Monetary Authority (SAMA), is introducing an open banking policy to advance digital innovation in the financial services sector, the body announced this week.
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Saudi Arabia’s Crown Prince Says Kingdom Offering $6 Trillion in Investment Opportunities Over Next Decade
- January 14,2021
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman said the Kingdom offers investment opportunities worth $6 trillion over the next decade, with new projects representing half of this value, he said in a speech at the World Economic Forum on Wednesday.
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$5 Billion Hydrogen Project JV Planned for NEOM Hires Financial Advisor – Report
- January 13,2021
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- SUSTG Team
A three-organization joint venture hydrogen project between Air Products, NEOM, and ACWA Power has hired financial firm Lazard to advise on a planned $5 billion hydrogen project in the NEOM high-tech business zone in Saudi Arabia, according to a Reuters report, citing sources.
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MUST-READS
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Ronaldo ‘excited’ to start new chapter with ‘inspiring’ Saudi Arabia’s Al Nassr
The club announced details of the contract on Friday. The five-time Ballon D’or winner is now set to undergo a medical at Mrsool Park, home of Al Nassr, before completing any formalities. He will appear in the club’s yellow and blue colours in the Saudi capital Riyadh in the coming days.
- CBS Sports - Cristiano Ronaldo completes $75 million-per-year move to Saudi club: 'Vision that Al Nassr has is inspiring'
- Gulf Times - What we know of Ronaldo’s new Saudi Arabian club Al Nassr
- RFI - 'Historic moment': Saudis flock to buy Ronaldo shirts after Al Nassr deal
- Nairametrics - Breakdown of Cristiano Ronaldo’s Salary for Saudi Club Al Nassr
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Saudi start-up Manafa raises $28 million to fund expansion
Saudi FinTech start-up Manafa has raised 106 million Saudi riyals ($28.2 million) to fund its plans to offer new financial products across untapped sectors in the kingdom. The debt and investment company's series A funding round was led by Saudi venture capital firm STV and Saudi Aramco's venture capital arm, Wa’ed Ventures.
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Saudi banks to start implementing Basel III reforms in January
The reforms were issued by the BCBS in December 2017, which complements Basel III standards issued by the BCBS in 2010, with the aim of restoring creditability in the calculation of risk-weighted assets (RWA) by improving the sensitivity of the standardized approach (SA) used in calculating them, and reducing the reliance on the internal ratings-based approach (IRB).
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Couple cycle across Saudi Arabia as part of epic 9-month expedition
Traveling only by bicycle and the occasional ferry, the pair carry everything they need to sustain themselves, subsisting on a diet of mainly rice and vegetables (and the odd soft drink to boost calories), spending most nights camping out in tents. They have crossed deserts, faced rain and thunderstorms, become desperately stuck in deep mud, and even witnessed protests in Iran over the death of Mahsa Amini, and yet the pair don’t see any end to the adventure in the near future. Their voyage started off in Hessen, central Germany, in April, when they decided that they needed a change from the routine of their daily lives working at the German environmental protection authority.
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How Much Aid Has the U.S. Sent Ukraine? Here Are Six Charts.
In 2022, the Biden administration and the U.S. Congress have directed nearly $50 billion in assistance to Ukraine, which includes humanitarian, financial, and military support, according to the Kiel Institute for the World Economy, a German research institute. The historic sums are helping a broad set of Ukrainian people and institutions, including refugees, law enforcement, and independent radio broadcasters, though most of the aid has been military-related. Dozens of other countries, including most members of the North Atlantic Treaty Organization (NATO) and the European Union, are also providing large aid packages to Ukraine.
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Engie takes part in largest auction of carbon credits in Saudi Arabia
In total, 15 Saudi and regional entities took part in the auction, including Aramco, Olayan Financing Company, and Saudi Arabian Mining Company (Ma’aden), which purchased the most significant number of carbon credits.
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Signs of Salome, said to be nurse to baby Jesus, unearthed in Israel
Also found were inscriptions - some in Arabic - and decorated oil lamps consistent with the site having served Christian pilgrims, including through to the ninth century after the Muslim conquest of the region, the IAA said.
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Iranian Minister Says Spoke to Saudi Counterpart at Jordan Conference
Iran's foreign minister said on Wednesday he spoke with his Saudi counterpart on the sidelines of a conference in Jordan the previous day, the highest-level encounter reported between officials from the rival states since they cut ties in 2016. The Middle East's leading Shi'ite and Sunni Muslim powers, Saudi Arabia and Iran have been on opposing sides of conflicts across the region including in Syria and Yemen. Iraq has hosted five meetings between Saudi and Iranian officials since last year in a bid to ease tensions, the last of which was in April.
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19 Newcomers Join Forbes Middle East’s Top 50 Most-Funded Startups 2022
Forbes Middle East has released its annual list of MENA's Top 50 Most-Funded Startups, celebrating the mission-driven young businesses attracting investor attention. Combined, the 50 startups on the 2022 list have raised $3.2 billion in funding, up from $3 billion in 2021.
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19 Newcomers Join Forbes Middle East’s Top 50 Most-Funded Startups 2022
Forbes Middle East has released its annual list of MENA's Top 50 Most-Funded Startups, celebrating the mission-driven young businesses attracting investor attention. Combined, the 50 startups on the 2022 list have raised $3.2 billion in funding, up from $3 billion in 2021.
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