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Saudi Arabia to join Miss Universe for the first time
- March 26,2024
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- SUSTG Team
27-year-old model, influencer, and beauty pageant veteran Rumy AlQahtani announced on Instagram that she will be representing Saudi Arabia in 72nd Miss Universe contest in Mexico later this year.
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Saudi Non-Oil Activity reaches 50% of GDP as Economy Continues to Diversify
- March 15,2024
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- SUSTG Team
Non-oil economic activity in Saudi Arabia contributed 50 percent to the Kingdom’s gross domestic product in 2023, the highest level ever, the Ministry of Economy and Planning said on Thursday. The total non-oil economy was worth $453 billion at constant prices, driven by continued growth in investment, consumption and exports.
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Gidori, a New Private Golf-Focused Community and Destination at NEOM, Announced with A Focus on Lush Landscaping
- March 11,2024
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- SUSTG Team
The Board of Directors of NEOM has announced Gidori – an exclusive private golf community set amidst the breathtaking coastal hills of the Gulf of Aqaba – as the latest addition to NEOM, the evolving regional development in northwest Saudi Arabia, according to a press release.
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New Imagery Released of F1 Circuit at Forthcoming Entertainment City Qiddiya
- March 6,2024
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- SUSTG Team
Saudi Arabia has released computer-generated images of its planned new racing circuit in the forthcoming mega entertainment project Qiddiya, which will feature a 20-story-high elevated first corner and a swimming pool overlooking a section of track, according to reports.
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Saudi PIF, Bahraini Counterpart Mumtalakat Sign Agreement to Boost Cooperation and Investment
- March 5,2024
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) and its Bahrani counterpart, Mumtalakat, have signed a memorandum of understanding (MoU) to expand cooperation and enable new and promising investment opportunities in Bahrain.
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Khalid bin Musaed bin Saif bin Abdulaziz Al-Saif (1953-2024)
- February 23,2024
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- Richard Wilson
*A note from SUSTG’s President, Richard Wilson.* My friend, Khaled Al-Saif, a true Saudi patriot, passed away on February 18.
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What it’s like to live in Saudi Arabia during Riyadh Season, PIF-backed Alat launches with eyes on a big impact, and more…
- February 20,2024
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- SUSTG Team
The boys are back for their normal format and catch up on just some of the seemingly endless new developments and storylines emerging from Saudi Arabia of late.
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Local content rate seen at 43% in Saudi Arabia with a 20% jump in spending – PIF
- February 8,2024
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- SUSTG Team
The growth rate of local content in Saudi Arabia has now reached 43 percent, a top PIF official noted at the Private Sector Forum in Riyadh yesterday, noting that overall spending on content has increased by 20 percent.
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2nd PIF Private Sector Forum Concludes; Expands Private Sector Interaction with PIF Portfolio Companies
- February 7,2024
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- SUSTG Team
Saudi Arabia concluded its second edition of the “PIF Private Sector Forum” in Riyadh, an event that brought together stakeholders from the PIF and its portfolio companies to engage directly with private sector companies at the King Abdulaziz International Convention Center in Riyadh.
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The Public Investment Fund’s Head of National Development, Jerry Todd, talks PIF investment strategy, localization and more…
- February 5,2024
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- SUSTG Team
Lucien Zeigler sits down with an exclusive conversation with Jerry Todd, Head of the National Development Division at the Public Investment Fund (PIF) of Saudi Arabia, in a new format and program called 966 Live, recorded at PIF studios in a fireside chat style of engagement. Jerry Todd, who is also on the PIF’s Management […]
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MUST-READS
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Elon Musk tells court Saudi Arabia wanted to take Tesla private, $420 ‘not a joke’
Plantiff’s lawyer Porritt also asked several questions that led Musk to say he hadn’t talked to major Tesla shareholders such as Baillie Gifford and T. Rowe Price about possibly taking Tesla private. Musk also said he couldn’t recall specifics around speaking with the board about the plan.
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Can Ronaldo live with girlfriend in conservative Saudi Arabia?
Ronaldo arrived in Saudi Arabia last week along with his children and longtime girlfriend Georgina Rodriguez. But Ronaldo and Rodriguez are not married, and their arrival in the Gulf state prompted numerous reports in international media that Saudi authorities are expected to allow them to live together in violation of Saudi law.
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Investment in Intellectual Property Aims to Boost Innovation and Growth in Saudi Arabia
Saudi Arabia has launched a National Intellectual Property Strategy (NIPST) to encourage and facilitate the creation, development, management, and protection of intellectual property rights. With regard to the financial impact, it is expected to achieve SAR 4.11 billion within 5 years. The country has a favorable investment environment for knowledge-based industries and has put in place a legislative framework to protect intellectual property rights and attract foreign investment in innovation-based projects.
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Chinese EV start-up Enovate to build plant in Saudi Arabia as President Xi’s visit to Riyadh begins to pay off
Enovate Motors, a Chinese electric vehicle (EV) start-up, plans to build a factory in Saudi Arabia, following a state visit by President Xi Jinping to the kingdom. The carmaker, which counts Shanghai Electric Group as an early investor, said on Monday that it had signed an agreement with Saudi Arabian authorities and joint-venture partner Sumou to set up an EV plant with an annual capacity of 100,000 units. The factory, which will include a research and development centre, will cost about US$500 million, Enovate said in a statement.
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Saudi Arabia’s non-oil private sector robust after new order boost
Business activity in Saudi Arabia's non-oil private sector economy continued to improve in October, driven by a sharp rise in output and new orders as business optimism grew, despite global macroeconomic headwinds. The Riyadh Bank Saudi Arabia purchasing manager’s index climbed to 57.2 in October, up from 56.6 in September, underpinning the robustness of the country's non-oil private sector economy , which is still in expansion mode for the 26th successive month.
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Saudi Arabia’s non-oil private sector robust after new order boost
Business activity in Saudi Arabia's non-oil private sector economy continued to improve in October, driven by a sharp rise in output and new orders as business optimism grew, despite global macroeconomic headwinds. The Riyadh Bank Saudi Arabia purchasing manager’s index climbed to 57.2 in October, up from 56.6 in September, underpinning the robustness of the country's non-oil private sector economy , which is still in expansion mode for the 26th successive month.
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Saudi Aramco and IBM aim to establish an Innovation Hub in Saudi Arabia
The collaboration aims to support high-tech driven economic growth in the Kingdom of Saudi Arabia leveraging emerging technologies in hybrid cloud, AI, and quantum computing to address objectives including circular economy, materials science, supply chain, sustainability, security, and digitization.
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Saudi Arabia Tax Agency Announces August 2022 VAT Return Filing Deadline
The Saudi General Authority of Zakat and Tax Sept. 18 announced the Sept. 30 deadline for filing August monthly VAT returns for business taxpayers. Taxpayers can file the returns and pay the tax through the agency’s website or smartphone application. Late returns are subject to a penalty of 5 to 25 percent of the unpaid tax. [Saudi Arabia, General Authority of Zakat and Tax, 09/18/22]
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Saudi Arabia partners with Google Cloud to ‘elevate’ women’s participation in AI sector
Saudi Arabia has partnered with American tech firm Google to launch a global program that will look to reduce the gender gap in the technological sector, especially artificial intelligence. The Saudi Authority for Data and Artificial Intelligence announced the new initiative named ‘Elevate’, in association with Google Cloud, during the 2nd Global AI Summit in Riyadh on Sept. 15.
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Saudi Arabia Launches Falcon Conservation Program With Global Ambition
Three seconds. Saudi Arabia's ambitious falcon reintroduction program often hinges on the brief moment when a falcon is shown it new home for the first time. Under new protocols being developed within the program, a falcon is brought to its potential habitat for the first time under a hood. Bred in captivity, a falcon can find the Saudi Arabian wilderness at first mysterious. The birds must be introduced slowly to the habitat.
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