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Saudi Technology Ventures Report Sees 45 New MENA Unicorns in the Next Eight Years
- August 10,2022
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- SUSTG Team
The MENA region is set to witness the birth of more than 45 unicorns in the next eight years, with an estimated total equity value to reach more than $100 billion, according to a new Saudi Technology Ventures (STV) report.
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Saudi Ministry of Investment Releases Q2 Investment Highlights Report; 49 Closed Investment Deals Worth More Than $925m Inked
- August 8,2022
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- SUSTG Team
Saudi Arabia’s Ministry of Investment (MISA) released its 2Q 2022 Investment Highlights report, which touts over $925 million in investment deals in the second quarter of this year.
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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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Saudi Oil Exports Jump 106% Year-on-Year to Over $30 Billion in May 2022; US Sees Room for More Saudi, UAE Production
- July 28,2022
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- SUSTG Team
Saudi Arabia’s oil exports jumped 106 percent, reaching SR116 billion ($30 billion) during the month of May 2022 while compared to the same period last year, according to the latest report published by the General Authority for Statistics (GASTAT), released on Monday.
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Report: Saudi Arabia Plans Air Cargo Roadshows to Boost Distribution, Logistics Sector
- July 20,2022
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- SUSTG Team
Saudi Arabia plans to stage a number of roadshows in the next 12 to 18 months “as it seeks to persuade the likes of Amazon.com Inc., Alibaba Group Holding Ltd. and Deutsche Post AG’s DHL to help scale up air-cargo and distribution operations,” Bloomberg reports.
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Saudi Arabia’s King Salman Allocates $5.3 Billion in Inflation Relief Aid
- July 7,2022
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- SUSTG Team
Saudi King Salman bin Abdulaziz Al Saud issued a royal decree this week ordering the allocation of SR20 billion ($5.33 billion) in financial support to tackle the effects of the rising global prices and inflation.
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United Nations Recognizes Saudi Arabia’s Tawakkalna App with Public Service Award for 2022
- June 28,2022
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- SUSTG Team
Saudi Arabia’s game-changing Tawakkalna app has been awarded the United Nations Public Service Award 2022 for institutional resilience and innovative responses to the COVID-19 pandemic, Arab News and the Saudi Press Agency reported. The award was given to Dr. Abdullah bin Sharaf Alghamdi, President of the Saudi Data and AI Authority (SDAIA), at an annual forum that recognizes distinguished […]
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New Report Places Saudi Arabia at Seventh Most Competitive Economy Among G20 Countries
- June 15,2022
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- SUSTG Team
A new report published by the Switzerland-based International Institute for Management Development (IMD) said that Saudi Arabia ranked as the seventh most competitive economy among G20 countries in the organization’s publication, the World Competitiveness Yearbook 2022.
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A conversation with Mark Thompson and Neil Quilliam on their new book on Saudi Arabia, reacting to the latest with LIV Golf, and more
- June 10,2022
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- SUSTG Team
In episode 47, the hosts welcome on Dr. Mark Thompson and Dr. Neil Quilliam, authors of a new book on Saudi Arabia’s governance and policymaking, for a fascinating discussion on how decision-making is changing and evolving at all levels in Saudi Arabia as Vision 2030 continues apace.
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President Biden Praises ‘Courageous Leadership’ in Saudi Arabia over Yemen Truce; Plans June Visit
- June 2,2022
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- SUSTG Team
President Joe Biden praised Saudi Arabia’s “courageous leadership” on brokering and then leading the way to extend a U.N.-brokered ceasefire on Thursday between Yemen’s warring parties, according to reports. The comments come as President Biden reportedly is likely to visit the Kingdom this month.
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MUST-READS
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Without Defanging Hezbollah, Lebanon Can Have Little Hope for the Future
Here in crisis-stricken Beirut, echoes of Lebanon’s past are keenly felt, whether in simmering sectarian tensions or in a political class that is dominated year after year by the same forces. The militias that fought in the country’s 15-year civil war have only renamed themselves as political parties; they continue to rule and ruin the country. This for-profit elite operates under a system that abuses every resource available, even the most basic. Scheduled electricity blackouts have given rise to a gang of private, unregulated power suppliers that charge exorbitant prices, popularly known as the “generator mafia.” The only reliably clean water is bottled and sold at a premium. Rubbish piles up in streets, posing a public health risk, as waste removal companies get fat on overpriced contracts. The list goes on.
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Saudi Arabia’s Prince Bandar bin Sultan calls out Palestinian leaders over peace deal
“Efforts in the past years would have been better spent on the Palestinian cause, peace initiatives, and protecting the rights of the Palestinian people to reach a point where this just, albeit robbed, cause can finally see the light, and when I say robbed, I mean both by Israel and Palestinian leaders equally,” Prince Bandar added.
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Qatar National Bank to raise $3.5 billion loan – sources
Qatar National Bank (QNB) QNBK.QA, the Gulf's biggest lender, plans to raise a $3.5 billion loan with a group of banks, said four sources familiar with the matter. The planned transaction would refinance an existing $3.5 billion debt facility the bank raised in 2017 and which is due in December this year. Two of the sources said HSBC will have a leading role in the deal. QNB did not immediately respond to a comment request while HSBC declined to comment.
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Saudi Arabia’s monetary authority issues new 5 riyal polymer banknote made from Saudi petrochemicals
The note was also made to withstand different conditions, such as different temperatures and moisture, and not to be damaged when folded. The new note, that is also resistant to dirt, was made from Saudi petrochemical materials.
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Lebanon and Israel, Officially Enemies, Agree to Talks on Sea Border
Lebanon and Israel have agreed to open their first negotiations on nonsecurity issues in three decades, a rare if limited breakthrough between hostile neighbors that are technically at war and have no formal diplomatic relations. Talks aimed at ending an enduring dispute over their maritime boundary in a patch of the Mediterranean Sea rich with natural gas are slated to begin this month, officials from both countries said Thursday.
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World Bank ranks UAE, Bahrain as top Arab nations for human capital
The Human Capital Index 2020 measures potential productivity in the health and education sectors across 98 percent of the world’s population — with a focus on the knowledge, skills, and health that a child born today is expected to accumulate by their 18th birthday. In the global rankings, the UAE came 44th against a global benchmark and first in the Arab world in the index, followed by Bahrain at 46th, Oman at 64th, Saudi Arabia at 84th and Kuwait at 88th.
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Lebanon and Israel to hold ‘historic’ maritime border talks
Lebanon and Israel have declared overlapping boundaries in the eastern Mediterranean Sea, and a resolution of the dispute would allow them to exploit offshore natural gas fields.
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Lebanon, Israel to begin negotiations over maritime border
Lebanon and Israel said on Thursday that they would hold direct negotiations to resolve a long-standing maritime border dispute, the latest in a series of U.S.-brokered breakthroughs in the region. Israel's Energy Minister Yuval Steinitz welcomed the news and said: "Our goal is to end the dispute over the demarcation of economic water between Israel and Lebanon in order to help develop natural resources for the benefit of all peoples in the region."
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Carlos Ghosn launches new program to help Lebanon’s economy
At a news conference on Tuesday, Ghosn said that he hoped the program would help play a role in "the reconstruction of the country." "If there's one specific thing that Lebanon needs, it is [to] create jobs," he said, according to a press release provided by the university. "I am ready to put my experience, my knowledge, anything I have in order to support any institution, any team with a purpose."
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Saudi Tourism Development Fund, banks sign deal for up to $43 billion of projects
The agreement will set up mechanisms to finance tourism projects across the kingdom as part of the government’s efforts to develop the sector, a key pillar of Saudi Crown Prince Mohammed bin Salman’s ambitious reform strategy to reduce dependence on oil.
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