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Recent stories from sustg

  • Nusuk pilgrim card launched
     

    With the 2024 Hajj expected to begin June 14, Minister of Hajj and Umrah Dr. Tawfiq Al-Rabiah released the Nusuk card by presenting its copy to Indonesian Minister of Religious Affairs Yaqut Cholil Qoumas in Jakarta on Tuesday, April 30, during his official visit to Indonesia.

     
  • 10th Saudi Film Festival Underway
     

    The 10th Saudi Film Festival runs May 2-9 at the King Abdulaziz Center for World Culture (Ithra) in Dhahran.  Debuting in 2008 this year’s edition has two main themes: Indian cinema and sci-fi films.

     
  • PIF and BlackRock Launch $5bn Investment Fund
     

    BlackRock and Public Investment Fund signed a non-binding MOU that calls for the sovereign fund to invest up to $5bn in stages as the new firm hits agreed milestones. Investments will provide capital for a variety of funds invested in public equities and bonds as well as alternative assets.

     
  • Saudi Space Agency and WEF Establish Space C4IR Center
     

    The World Economic Forum has signed an agreement with the Saudi Space Agency to establish a Centre for the Fourth Industrial Revolution (C4IR)  focused on space. The Centre for Space Futures, set to open in autumn 2024, will be hosted by the Saudi Space Agency.

     
  • Special World Economic Forum Convenes in Riyadh
     

    The World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development in Riyadh convenes 1,000 global leaders from 92 countries on 28-29 April, to support global dialogue and find actionable, collaborative and sustainable solutions to shared global challenges.

     
  • Vision 2030 Marks 8th Year Since Launch
     

    Launched on April 25, 2016, Vision 2030, Saudi Arabia’s blueprint for economic and social transformation marks it 8th year and the halfway point between 2016 and 2030.

     
  • IMF Launches New Regional Office in Saudi Arabia
     

    The goal of the new office is to strengthen the IMF’s collaboration with governments and institutions in the Middle East including promoting economic stability, growth, and regional integration.  It also underscores the growing economic importance of the region.

     
  • Saudi’s Regional Headquarters Program Moves Forward
     

    In February the Zakat, Tax and Customs Authority published guidelines specifying RHQ tax rules. Under the new rules, specific activities qualify for tax incentives. The new RHQ tax rules aim to clarify the scope and conditions of tax relief for RHQ entities, as announced by MISA in December 2023. 

     
  • EU announces five-year Schengen visas for Saudi, Omani and Bahraini citizens
     

    The EU will now allow citizens from Saudi Arabia, Oman, and Bahrain to apply for five-year Schengen visas. This marks a significant step forward in strengthening people-to-people relations between the EU and the GCC.

     
  • Global Defense Spending Spikes in 2023
     

    According to a study by Forecast International in 2023 global defense spending grew at its fastest pace in the last decade as governments respond to security crises unfolding around the world.

     

MUST-READS

  • Tyson Fury Arrives In Saudi Arabia For Undisputed Showdown With Usyk

    WBC heavyweight champion Tyson Fury has made his arrival in Saudi Arabia for his clash against IBF/WBA/WBO champ Oleksandr Usyk undisputed fight on May 18th at the Kingdom Arena in Riyadh.

  • How La Liga is building bridges with Saudi Arabia and regional partners

    At the start of March, the La Liga FC Futures U14 tournament was held at the Mahd Sports Academy in Riyadh and won by Spanish club Villarreal. The competition had been organized in partnership with the Kingdom’s Ministry of Sports and saw 12 teams taking part, including eight EA Sports La Liga teams — Barcelona, Cadiz, Atletico Madrid, Sevilla, Villarreal, Real Betis and Osasuna — as well AS Roma from Italy, Portugal’s SL Benfica, Olympique de Marseille ofFrance and Saudi Arabia’s own Mahd Academy.

  • Ronaldo scores his 4th hat trick of Saudi Pro League season

    Cristiano Ronaldo scored his fourth hat trick of the Saudi Pro League season on Saturday as Al Nassr thrashed Al Wehda 6-0. The five-time Ballon d'Or winner now has 32 league goals this season, two short of Abderrazak Hamdallah's record tally of 34 back in the 2018-19 campaign, with four games still to play. Ronaldo opened the scoring in Riyadh in the fifth minute after intercepting a poor clearance from goalkeeper Monir El Kajoui.

  • Boxing has a drug problem. Saudi Arabia’s Turki Alalshikh can make fixing it his legacy

    Turki Alalshikh, chairman of the General Entertainment Authority, is the driving force behind Saudi Arabia’s expanding influence in boxing. His personal commitment and respect for the sport are well known. I’d like to see Turki Alalshikh take the lead in combatting the use of illegal performance enhancing drugs in boxing.

  • Who’s Who: Abdullah Al-Ajmi, space business development director for Lockheed Martin in Saudi Arabia

    Abdullah Al-Ajmi is the space business development director for Lockheed Martin in Saudi Arabia. He is responsible for coordinating and bolstering the Kingdom’s space efforts. In addition to fostering strategic cooperation between government and commercial enterprises, Al-Ajmi oversees the facilitation of scientific experiments and international research collaborations, as well as the administration of future space-related missions. A retired brigadier general of the Royal Saudi Air Force and Ministry of Defense, he has a wealth of expertise and experience in remote sensing and intelligence, surveillance, and reconnaissance and space systems.

  • Saudi Awwal Bank reports 16 percent growth in Q1 net profit at SR2 bn

    Lubna S. Olayan, chair of the board of directors of Saudi Awwal Bank, announced the bank’s financial results for the period ending March 31. SAB recorded a net profit after zakat and income tax of SR2.04 billion ($543.9 million) for the period ending March 31, representing an increase of 16 percent compared to the same period of 2023. The total operating income rose 7 percent to SR3.44 billion.

  • World Snooker Championship: The near-silent sport which has become the latest focus of Saudi Arabia’s imagination

    No one dares speak louder than a whisper as nearly 1,000 people respectfully take their seats inside the dimly lit Crucible Theatre. There is a sense of nervous excitement as those lucky enough to get their hands on a ticket cram into this historic venue in the heart of Sheffield, a city in the north of England. But they’re not here to see a theatrical performance. They’ve come to witness the nerve-shredding, silently electric atmosphere of the World Snooker Championship.

  • Sullivan Says US-Saudi Defense Pact Not Possible Without Israel Deal, FT Reports

    US National Security Advisor Jake Sullivan insisted the Biden administration will enter into a defense pact with Saudi Arabia only if the kingdom normalizes relations with Israel, the Financial Times reported. Sullivan said in an interview with the newspaper the two issues were part of an “integrated vision” for peace in the Middle East and could not be disentangled. He said that President Joe Biden will publicly outline a path to a more secure Israel and a more peaceful region in the months ahead, the FT said.

  • U.N. rights boss seeks freedom for Saudi women activists

    U.N. human rights chief Michelle Bachelet called on Saudi Arabia on Wednesday to release women activists allegedly tortured in detention after authorities accused them of harming the country's interests. Activists have named 10 Saudi women held for their campaigning, voicing fears that they could face harsh sentences. Saudi Arabia's public prosecutor is preparing the trials of detainees, identified by watchdog groups as women's rights activists, after completing its investigations, state news agency SPA said last Friday.

  • Saudi Fintech Firm Rasan Plans to Sell 30% Stake in Riyadh IPO

    Saudi Arabian fintech firm Rasan intends to sell a 30% stake in its Riyadh initial public offering, making it one of the first companies from the sector to go public in the kingdom. Rasan and its investors will offer 22.7 million shares in the IPO, including 5.3 million new shares, according to a statement on Sunday. Bookbuilding for institutional investors will run from May 12 through May 16, while retail investors will be able to bid from May 29 to May 30.