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Eyad Albayouk from Flat6Labs talks Saudi VC and KSA’s startup ecosystem, reacting to the unveiling of The Line at NEOM and more
- July 29,2022
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- SUSTG Team
Episode 54! The 966 talks with Eyad Albayouk from the VC firm Flat6Labs KSA. Eyad chats with us about Saudi Arabia’s growing startup ecosystem and entrepreneurship in the Kingdom, and the state of Saudi VC in 2022 as the Kingdom ramps up Vision 2030 execution. Before the interview, the hosts discuss the recently announced megaproject, […]
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IMF Raises Saudi Economy Growth Forecast for 2023 to 3.7%, Despite ‘Gloomy’ Global Developments
- July 27,2022
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- SUSTG Team
The International Monetary Fund has raised its expectations for the growth of the Saudi economy in 2023 to 3.7 percent, up from its April forecast of 3.6 percent.
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President Biden Concludes Trip to Saudi Arabia with Agreements to Cooperate on Range of Issues
- July 18,2022
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- SUSTG Team
President Biden concluded his trip to Saudi Arabia with a renewed partnership with the Kingdom, pledging to work together with Saudi leadership to achieve shared goals on a number of diplomatic, energy, and trade issues.
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Oil Continues Drop on Global Indices as Recession, Demand Destruction Fears Weigh on Prices
- July 6,2022
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- SUSTG Team
Oil plummeted about 9% on Tuesday in the biggest daily drop since March, and failed to regain ground on Wednesday, as growing fears of a global recession and lockdowns in China that could slash demand weighed on prices.
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Raghad Fathaddin joins The 966; Oil’s price and Saudi spare production capacity, the new ‘Motawif’ app, and more…
- July 1,2022
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- SUSTG Team
In episode 50, The 966 talks with Raghad Fathaddin, communications analyst for PepsiCo based in Riyadh, an entrepreneur and founder of Sangha “Estidama Hub”, a Y20 delegate and also a WIn fellow. Before that conversation, the hosts discuss a new app from Saudi Arabia that is changing the way people register for the Hajj pilgrimage, […]
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New PwC Report Highlights $119 Billion GDP Upside of Developing Homegrown ‘Tech Champions’ in Saudi Arabia
- June 6,2022
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- SUSTG Team
Gulf Cooperation Council (GCC) countries must develop ‘tech champions’ to compete with the U.S and China and add billions to their GDP by 2030, a new report by Strategy& Middle East, part of the PwC network, says.
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With Energy Prices High, Saudi Aramco Again Becomes World’s Most Valuable Company
- May 12,2022
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- SUSTG Team
Elevated energy prices as a result of growing demand and supply shortages in the post-pandemic global economy boosted the value of Saudi Aramco to become the world’s most valuable company, according to reports.
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Saudi Arabia Will Purchase Up to 100,000 Lucid Vehicles, Company Says
- April 27,2022
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- SUSTG Team
Electric carmaker Lucid Group Inc., which is owned by Saudi Arabia’s Public Investment Fund (PIF) on Tuesday said it has signed an agreement with the government of Saudi Arabia for the purchase of up to 100,000 of its vehicles over the next 10 years, according to Reuters.
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Oil Drops Below $100 as Higher Oil Prices Seen as Boon for Saudi Economy
- April 25,2022
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- SUSTG Team
Oil dropped at the start of the week below $100 as worry over a spreading Covid-19 outbreak in China might impact consumption even further, according to Bloomberg.
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Energy, hydrogen, and more with Phillip Cornell from The Economist Impact and the Atlantic Council and much more…
- April 8,2022
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- SUSTG Team
In Episode 34, The hosts welcome Phillip Cornell, senior fellow, Global Energy Center at the Atlantic Council, and Principal for Energy and Sustainability at the Economist Impact, and brings over 15 years of international experience in private and public sectors (World Bank, IEA, Aramco, NATO, Dow Jones) onto The 966 to talk about the global […]
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MUST-READS
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Saudi Industrial Production Index down 11.2% in September
Saudi Arabia’s Industrial Production Index (IPI) fell by 11.2% year-on-year (YoY) in September 2023, extending its downtrend to the fifth successive month. Data issued by the General Authority for Statistics (GASTAT) showed that Saudi IPI fell to 122.99 points in September, according to the base year 2010, compared to 138.5 points in the year-ago period. Despite the continued increase in the manufacturing activity, and the electricity and gas supply activity, September’s decline in the mining and quarrying activity directly impacted the general index due to its heavy weight in the index.
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Oleksandr Usyk seeking February date for Saudi showdown with Tyson Fury
Oleksandr Usyk is hoping his undisputed heavyweight world title showdown with Tyson Fury will take place in Saudi Arabia in February once the Briton has recovered from a bruising 10 rounds against Francis Ngannou. Contracts were signed in September but a proposed 23 December date in Riyadh has been pushed back to next year following the WBC champion’s near-defeat against former UFC champion Ngannou in a non-title bout late last month. The Ukrainian holds the WBA, WBO, IBF and IBO belts and both he and Fury are unbeaten.
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Egypt’s economy teeters following Moody’s downgrade
The New York-based credit rating agency Moody’s downgraded Egypt’s foreign and local currency issuer ratings to Caa1, indicating debt obligations of “poor standing” that are subject to “very high credit risk,” per the firm’s criteria. Moody’s cited Egypt’s persistent foreign currency shortages as well as the government’s "increasingly constrained policy options to rebalance the economy without exacerbating social risk,” according to a press release.
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Starlink in crosshairs as Iranian security agents hunt down terminals, users
Iranian state media say a plot by a foreign intelligence service to smuggle Starlink gear to the restive Sistan-Baluchestan Province has been foiled. This comes just weeks after US-based “United Against Nuclear Iran” (UANI) announced an initiative to purchase and deliver Starlink terminals to help Iranians bypass government restrictions.
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How would a US government shutdown affect the Middle East?
Viewed from overseas, a US federal shutdown might merely look like a domestic problem created by polarised politicians. But a closure of key federal services could have impacts abroad, too.
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Netanyahu judicial overhaul faces showdown in Israeli Supreme Court
Israel's Supreme Court will hear petitions on Tuesday to quash an amendment by Prime Minister Benjamin Netanyahu's governing coalition that curbs its very own power, in a historic session which has already inflamed the country's judicial crisis. It is one in a series of appeals that the court will hear throughout September and which go straight to the core of the judicial row that has rocked the country for months, pitting the bench against a government that says it is too interventionist.
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Salah stays at Liverpool as Saudi transfer window closes
Throughout the transfer window, Liverpool have been adamant that Salah would not be allowed to leave Anfield after former players Jordan Henderson, Sadio Mané, Fabinho and Roberto Firmino completed deals to Saudi clubs this summer. After Salah scored in a 3-0 win over Aston Villa on Sunday, manager Jurgen Klopp reiterated the club's stance and said the 31-year-old was fully committed to the Premier League club.
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Saudi traffic deaths down 35%
Saudi Arabia has seen a significant reduction in the number of traffic accident deaths in the Kingdom. According to a World Health Organisation (WHO) report, the Kingdom saw a 35 per cent reduction during the past five years. The number of road accident deaths decreased from 9,311 in 2016 to 6,651 in 2021, said WHO.
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After luring Neymar, Mane and a slew of stars, the Saudi transfer window is set to shut
Ronaldo’s decision in December to head to Al-Nassr has opened the door to a slew of the game’s top players following suit by swapping Europe’s biggest leagues for one that was previously little known outside of Asia. A host of Champions League winners have since made the move, with N’Golo Kante, Sadio Mane, Riyad Mahrez, Roberto Firmino, Jordan Henderson, Fabinho and Aymeric Laporte also taking up the riches on offer.
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X accused of assisting in Saudi crackdown on dissent
A revised civil US lawsuit has accused X, formerly known as Twitter, of assisting Saudi Arabia in perpetrating human rights abuses against its users. The legal filing alleges that the network disclosed user data to the Saudi authorities “significantly more often” than to the US, UK and Canada, and ignored "the red flags" of a systemic crackdown on dissent on the platform by Saudi authorities dating from December 2014, when it was infiltrated by three Saudi agents.
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