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Inaugural Saudi Ladies Invitational Golf Tournament Ends in Thrilling Playoff Win for Denmark’s Emily Kristine Pedersen
- November 16,2020
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- SUSTG Team
Saudi Arabia’s inaugural golf tournament wrapped up on Sunday with a thrilling, come-from-behind win by Denmark’s Emily Kristine Pedersen, who sealed her victory in a playoff hole after trailing the then-leader Georgia Hall by three strokes.
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Saudi Crown Prince Mohammed bin Salman Releases Rare Statement on Economic Reforms, Security
- November 13,2020
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman released a rare statement on the ongoing economic reforms in Saudi Arabia and took a firm stance against any threats to the Kingdom, as Saudi Arabia battles dual crises in the Coronavirus and lower oil revenue.
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‘We are Expanding our Library of Saudi Content’: Netflix Signs Multi-Picture Deal with Saudi Arabia’s Telfaz11 Studios
- November 12,2020
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- SUSTG Team
Netflix has announced a partnership with Saudi Arabian digital media studio Telfaz11 to produce eight new feature films, Variety reports, an expansion of the media powerhouse’s interest in Saudi Arabia’s budding creators and growing entertainment market. According to Variety, the deal segues from the two companies’ previous collaboration on the short film collection “Six Windows in […]
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Saudi Economy Contracts 4.2% in 3Q, Improves from 2Q; Fitch Affirms Credit Rating at ‘A’
- November 10,2020
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- SUSTG Team
Saudi Arabia’s economy shrank 4.2% in the third quarter from a year earlier, government data showed on Tuesday, but the contraction was smaller than the second quarter when the economy was reeling from coronavirus-linked lockdowns, Reuters reports. The economy expanded by 1.2% on a seasonally-adjusted quarter-on-quarter basis in the third quarter from a contraction of 4.9% […]
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Saudi Arabia Will Host a Formula One Race Next Year for the First Time
- November 6,2020
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- SUSTG Team
Saudi Arabia will host a Formula One race next year, a move aimed at boosting tourism, sports and entertainment in the Kingdom, according to reports.
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Saudi Arabia Announces Planned Reforms to Expatriate Labor System, in Place for Seven Decades
- November 5,2020
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- SUSTG Team
Saudi Arabia on Wednesday announced plans to abolish the seven-decade-old labor sponsorship system known as “kafala” in the Kingdom, a step forward for the country’s modernization drive and economic reform plans, according to reports.
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Saudi Arabia’s Gas Production Hits All-Time High as Push Into Sector Pays Off
- November 4,2020
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- SUSTG Team
Saudi Arabia’s heavy investments to expand natural gas production in recent years is paying off in the form of record production of the fuel, according to Bloomberg, which cited latest figures from Saudi Aramco’s third-quarter results released on Tuesday.
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A Second Straight Month of Growth for the Saudi Non-Oil Private Sector
- November 3,2020
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- SUSTG Team
Saudi Arabia’s non-oil private sector saw a second straight month of expansion in October, as figures show output grew at a “solid pace,” Reuters reports. The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers’ Index (PMI) rose to 51.0 in October from 50.7 in September. The 50.0 mark separates growth from contraction.
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Road to the G20: B20, T20 Meetings Conclude Ahead of Main G20 Event
- November 2,2020
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- SUSTG Team
SUSTG is covering the events and meetings taking place in the run up to the G20 in November as part of our “Road to the G20” series of posts and featured items. Saudi Arabia just wrapped up the hosting of the B20 business-focused group, as well as the T20 meetings last week. The Business 20 […]
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As Saudi Non-Oil Revenue Soars, Uncertainty Looms Over Oil Market
- October 30,2020
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- SUSTG Team
Saudi Arabia saw a significant boost in non-oil revenue in the third quarter of this year, with an increase of 63% year-on-year to SR123 billion ($32.8 billion), new data shows, an encouraging trend for policymakers as the market for oil continues on an uncertain path in the face of a global pandemic and global economic slowdown.
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MUST-READS
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‘West Side Story’ Will Not Play In Saudi Arabia & Other Parts Of Middle East
The situation is somewhat reminiscent of what happened in early November with Disney/Marvel’s Eternals which featured a same-sex kiss. At the time, Saudi Arabia and censors in other markets also sought cuts beyond any scenes of intimacy and Disney opted not to make them, hence distribution certificates weren’t issued. In the UAE, a version of Eternals was ultimately released that removed all scenes of intimacy — heterosexual and homosexual as is generally normal practice for these markets.
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Spartan Race returns to Saudi Arabia
Saudi Arabia’s first Spartan Race took place in the mountains of Al-Soudah during the Asir Season in 2019, drawing more than 1,500 competitors and spectators. The race returns to the Kingdom on January 21, 2022, taking place at Dirab Park in Riyadh from 7am to 4pm.
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Delivery Hero Thwarted Again in Attempt to Buy a Saudi Rival
Delivery Hero is coming up empty in its efforts expand in the Middle East’s biggest economy by acquiring rivals, as deal talks earlier this year with Saudi e-commerce startup Mrsool collapsed and ended in dispute. Elsewhere in the region, the Berlin-based food-delivery company has recently grown its footprint by buying Dubai grocery delivery platform InstaShop.
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Finnish runner to cross Saudi Arabia’s Empty Quarter, the world’s largest sand desert
Jukka Viljanen will set off on Dec. 6 on a 25-day journey through 1,300 km of desert terrain, with the aim of becoming the first person to run across the massive desert
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AlUla Oasis: six artists to visually transform the cultural site in Saudi Arabia
Six artists have been living in AlUla Oasis in north-western Saudi Arabia since the start of November as part of the pilot version of AlUla's first artists' residency programme. They have been collaborating with specialists who are developing the natural oasis into the planned 50-square-kilometre hospitality, heritage and cultural venture.
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Saudi fintech startup Lamaa raises $5.5m in seed funds – one of the highest to date in Kingdom
Another fintech in the Gulf has bagged multi-million dollar backing - the startup Lamaa has a $5.5 million seed round led by Raed Ventures and Saudi Aramco’s entrepreneurship arm Wa’ed. The investment mirrors Saudi commitment to SMEs' financial inclusion as part of the Vision 2030 push. Lamaa, based in Riyadh, provides invoice financing solutions for SMEs. This is one of the largest seed funding rounds to date in the Kingdom.
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How to watch Saudi Arabian Grand Prix 2021: UK start time, live stream, TV channel, standings and F1 schedule
With four races to go Verstappen held a 19-point lead, but Hamilton – having already overcome a 32-point deficit earlier in the season to temporarily move in front of his Red Bull rival – has since reduced the gap to just eight points thanks to wins in Brazil and Qatar.
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KAUST Joins Saudi Venture Capital and Private Equity Association To Further Support Deep-Tech Startups
As the first university to become a member of the Saudi Venture Capital and Private Equity Association (SAVCPEA), KAUST will ensure that its KAUST Innovation Ventures plays a greater role in the country's deep-tech ecosystem.
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Saudi Arabia artist paints Riyadh’s walls atop a crane
Saudi mural artist Noura bint Saidan puts the final touches to her mural creation of Egyptian singer Umm Kulthum on the Boulevard in Riyadh, Saudi Arabia.
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Quick-commerce startup YallaMarket eyes Saudi Arabia and Qatar next year after U.A.E expansion
YallaMarket, a Dubai-based quick-commerce startup, is planning to expand within the United Arab Emirates (U.A.E), and to enter Saudi Arabia and Qatar next year, to tap the appetite for speedy and convenient grocery shopping. The startup, which was formally launched last month, is expanding in the U.A.E cities of Abu Dhabi and Dubai by setting up an additional 100 dark stores to offer 15-minute delivery services. Dark stores are order fulfillment centers for online retail outlets. These stores are inaccessible to customers but serve the important role of rapid order fulfillment. YallaMarket has two dark stores that are currently operational with plans to open two more in the next two weeks.
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