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IMF Launches New Regional Office in Saudi Arabia
- April 25,2024
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- SUSTG Team
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.
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EU announces five-year Schengen visas for Saudi, Omani and Bahraini citizens
- April 23,2024
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- SUSTG Team
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.
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Global Defense Spending Spikes in 2023
- April 22,2024
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- SUSTG Team
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.
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IMF Sees OPEC+ Turn on Oil Production as Boon for Saudi Economy in 2025 – Report
- April 19,2024
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- SUSTG Team
The International Monetary Fund said it expects OPEC and its partners to start increasing oil output gradually from July, “a transition that’s set to catapult Saudi Arabia back into the ranks of the world’s fastest-growing economies next year,” according to a report in Bloomberg. “We are assuming the full reversal of cuts is happening at the beginning of 2025,” […]
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Prospects for Saudi Arabia hitting 2030 Renewable Energy Targets
- April 19,2024
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- SUSTG Team
In 2016 Saudi Arabia’s Vision 2030 had an initial target of deploying 9.5GW of green energy by 2030. The latest revision made in 2023 targets 130GW of renewable power capacity by 2030. GlobalData, a leading data and analytics company, says the Kingdom can come close to that target.
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Saudi Arabia Moves Closer to $1 Billion stake in a Pakistani mine – Report
- April 18,2024
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- SUSTG Team
Saudi Arabia is moving closer to a potential deal to acquire a minority stake in a Pakistan mine controlled by Barrick Gold Corp., people with knowledge of the matter told Bloomberg.
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Saudi Arabia Fares Well in 2024 Kearney FDI Confidence Index
- April 16,2024
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- SUSTG Team
Ongoing economic and business-related reforms helped the United Arab Emirates and Saudi Arabia post the biggest jumps in Kearney’s 2024 Foreign Direct Investment Confidence Index. The countries climbed ten spots from 2023, to eighth for the UAE and 14th for Saudi Arabia.
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Saudi defense minister receives phone call from US counterpart; Kingdom denies role in shooting down Iranian attack
- April 16,2024
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- SUSTG Team
Saudi Minister of Defense Prince Khalid bin Salman received on Sunday a phone call from U.S. Secretary of Defense Lloyd Austin, according to reports.
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Dr. William Greene, CIO of the Hevolution Foundation, joins The 966 to talk latest investments, strategy for Hevolution
- April 15,2024
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- SUSTG Team
William Greene, MD, Chief Investment Officer (CIO) of the Hevolution Foundation, joins The 966 to talk about Hevolution’s investment strategy and role as an investor in the emerging field of Healthspan Science. As CIO, Dr. Greene oversees all aspects of Hevolution Foundation’s investment strategy, planning, analysis, and execution.
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Halo Space to test Balloon Flight from Saudi
- April 11,2024
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- SUSTG Team
Spanish company Halo Space is in talks with Saudi regulators to set up a base in the kingdom for balloon flights into space. Ongoing tests are planned for Saudi Arabia this summer.
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MUST-READS
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“Norah”: A Groundbreaking Saudi Film Makes Its Mark at the Cannes Film Festival
The 77th Cannes Film Festival marked a significant milestone for Saudi cinema with the inclusion of ‘Norah’ in the Un Certain Regard section. This recognition is noteworthy as "Norah" is the first Saudi film, entirely shot in AlUla and featuring an all-Saudi cast, to be officially selected at Cannes.
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Saudi Arabia’s King Salman congratulates Muslims on Eid al-Adha
King Salman, who is also the Custodian of the Two Holy Mosques, said in a post on X that he prayed that God accepts the Hajj pilgrimage of all those who performed the ritual this year “and to perpetuate security and stability for our homeland and our people, and for our Islamic and Arab nations and the entire world.”
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Over a year in making, Aramco stake sale brings rare foreign investment to Saudi
Saudi Arabia began preparing more than a year ago to sell a new chunk of state oil giant Aramco (2222.SE), opens new tab, targeting foreign investment that has lagged goals for years and is needed for an ambitious economic transformation.The preparations led by CEO Amin Nasser paid off.Over half of the $11.2 billion Aramco shares were sold to foreign investors, a far cry from five years ago, when they largely shunned its $29.4 billion initial public offering, citing concerns about risks around governance, regional geopolitics and the environment.
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Saudi Arabia to enforce ban on working under direct sunlight
Authorities in Saudi Arabia will begin enforcing a ban on working under direct sunlight for all private sector establishments from 12 PM to 3 PM, starting Saturday, June 15, 2024, until September 15, 2024. The ban will be implemented by the Ministry of Human Resources and Social Development, in collaboration with the National Council for Occupational Safety and Health.
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Saudi and Qatari universities lead the region in global education rankings
Universities from Saudi Arabia and Qatar have been ranked the best in the Arab world in a new global higher education league table.
Seven institutions across the region made the top 250 of the QS World University Rankings 2025, with three from Saudi Arabia and two from Qatar making up the top five in the Middle East.
King Fahd University of Petroleum and Minerals led the way in 101st position – up from 180th last year – out of 1,500 universities worldwide.
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2023-24 Roshn Saudi League – in record-breaking numbers
The recently concluded 2023-24 Roshn Saudi League was one for the history books, with a slew of records tumbling and new benchmarks set. Al Hilal were rampant title winners, Cristiano Ronaldo showed once more why for many he is considered the greatest of all time, while the rapidly growing league encouraged more fans to attend in person and, at the same time, reached a bigger worldwide audience than ever before.
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Cristiano Ronaldo in tears after losing King’s Cup final in penalty shootout
Cristiano Ronaldo was left sobbing on the pitch after Al-Nassr lost the Saudi King’s Cup final in a penalty shootout to rival Al-Hilal on Friday.
The agonizing defeat, after the penalty shootout finished 5-4, meant that Al-Nassr finished the season without a trophy, while Al-Hilal triumphed in three competitions – the Roshn Saudi League, the Saudi Super Cup and the Saudi King’s Cup
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Saudi King Salman heads cabinet meeting after medical treatment
Saudi Arabia’s King Salman bin Abdulaziz headed a cabinet meeting on Tuesday after he underwent medical treatment for lung inflammation last week, the Saudi Press Agency reported.
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‘Norah’ Review: A Striking Debut About Artistic Repression in ’90s Saudi Arabia
The first Saudi Arabian film ever selected for Cannes, the tender rural drama “Norah” is writer-director Tawfik Alzaidi‘s first feature film. The story of a schoolteacher tasked with introducing literacy to an isolated village and his unlikely relationship with a precocious young girl, the movie suffers from a few early-career filmmaking tics, which prevent all its pieces from all neatly fitting together. However, it’s also underscored by the kind of optimism and poetry about art that one often finds in novice works from directors destined to make more polished and accomplished films (if perhaps more cynical ones).
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Saudi Arabia’s open banking strategy a game-changer
In May 2022, the institution, also known as SAMA, went live with its open banking initiative, which has altered the future of financial technology in the Kingdom and the wider region. Open banking is a technological innovation that enables customers to securely share their data with third parties. “Open banking changes the very nature of relationships across the financial ecosystem for Saudi Arabia and for the region as a whole. This is only a good thing,” said Al-Moayed.
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