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Recent stories from sustg
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Saudi Central Bank Study: Digital Payments Exceed Cash for First Time in Saudi Arabia
- August 15,2022
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- SUSTG Team
Electronic payments exceeded the use of cash for the first time in Saudi Arabia in 2021, a study conducted by Saudi Arabia’s Central Bank found.
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The music industry in Saudi Arabia and more with Ahmed Shawly and Mostafa Fahmy from Jeddah’s ‘Wall of Sound’ Record Label
- August 12,2022
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- SUSTG Team
Episode 56! The 966 welcomes Ahmed Shawly and Mostafa Fahmy from the Jeddah-based Wall of Sound record label and recording studio to talk about the young and growing music industry in Saudi Arabia, their entrepreneurial journey building the business from the ground up in a new industry with a blend of established and new, indie […]
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Saudi Arabia Announces New Permit Requirement for Content Creators, Social Media Influencers
- August 11,2022
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- SUSTG Team
Saudi Arabia will require all social media users and content creators who are monetizing their posts and stories to apply for and receive a permit from the Kingdom’s General Commission for Audiovisual Media (GCAM), a report in Arab News said.
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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 Arabia Expected to Join $1 Trillion+ Economies in 2022
- August 9,2022
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- SUSTG Team
Saudi Arabia’s economy is expected to cross the $1 trillion mark, joining the largest economies in the world as the Kingdom’s GDP is expected to soar in 2022 on the back of high oil prices.
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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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Report: Saudi, UAE Save Remaining Spare Capacity for Potential Winter Supply Crisis
- August 4,2022
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- SUSTG Team
According to a report in Reuters, OPEC+ production leaders Saudi Arabia and the United Arab Emirates stand ready to deliver a “significant increase” in oil output “should the world face a severe supply crisis this winter,” sources familiar with the thinking of the top Gulf exporters told Reuters in an exclusive report.
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OPEC, Allies Agree to Increase in Oil Production
- August 3,2022
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- SUSTG Team
Saudi Arabia and the OPEC+ group of oil-producing countries agreed to a small increase of 100,000 bpd in oil production on Wednesday after the U.S. and other consuming nations called for more crude in the market, according to reports.
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Saudi Arabia’s Economy Expanded 11.8% in the Second Quarter; Non-Oil PMI Rises to 8-Month High — Jadwa Investment
- August 2,2022
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- SUSTG Team
Saudi Arabia’s economy expanded 11.8% in the second quarter of 2022, Bloomberg reports, maintaining the fastest pace of growth since 2011 as oil prices boost the Kingdom’s economy. Beyond oil, however, Saudi Arabia is seeing positive signs in the non-oil economy as the Kingdom continues apace with economic reforms as part of the Kingdom’s Vision 2030.
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Saudi Arabia Eyes Hosting of 2026 Women’s Asian Cup
- August 1,2022
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- SUSTG Team
Saudi Arabia has joined Australia, Jordan and Uzbekistan as nations who have expressed interest in hosting the 2026 Women’s Asian Cup, the Asian Football Confederation (AFC) said on Monday as reported in Reuters.
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MUST-READS
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Saudi Monshaat: 67% increase in commercial registrations during Q4 2024
There has been a 67 percent increase in commercial registrations, bringing the total number to 1.6 million during the fourth quarter of 2024. According to the quarterly SME Monitor Report released by the Small and Medium Enterprises General Authority (Monshaat), the majority of these registrations were concentrated in Riyadh, accounting for 39 percent, followed by Makkah with 17 percent, the Eastern Province 16 percent, Qassim 6 percent, and Asir 5 percent. The remaining 17 percent were distributed across other regions. More than 51,000 individuals have benefited from the Monshaat Academy, 41,076 SMEs accessed the authority’s support centers, and nearly 6,100 beneficiaries used the Mazaya platform
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Iraq bans Saudi’s MBC over Ramadan series Muawiya due to sectarian concerns
Iraq's media regulator has banned the broadcast of the historical drama "Muawiya" during the Muslim holy month of Ramadan on the Saudi Arabian television channel MBC Iraq, citing concerns that it could incite sectarian tensions. The Iraqi Media and Communications Commission (CMC) announced the decision on Saturday, stating that it was exercising its legal authority to regulate the country's media sector. "The broadcast of historically controversial content may provoke sectarian debates, which could threaten social harmony and disrupt the fabric of society, particularly during Ramadan," the commission said in a statement. "Muawiya" explores the life of Umayyad Caliph Muawiya ibn Abi Sufyan, who played a central role in the "First Fitna"—the civil war that followed the assassination of Caliph Uthman ibn Affan in the 7th century. Despite the Iraqi ban, "Muawiya" is set to air during Ramadan on MBC's main channels, ensuring its availability to audiences across the region.
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Saudi Arabia’s commitment to spending efficiency is driving growth and building resilience
Saudi Arabia’s 2025 budget will see the Kingdom continue to invest in the transformation of strategic sectors – including healthcare, tourism and logistics – under Vision 2030. Technologies such as artificial intelligence (AI) have emerged as key enablers in the transformation journey of these industries, with digitisation helping to streamline processes and increase operational and financial transparency. Of course, there are obstacles to unlocking spending efficiencies. Implementation of advanced tech like AI and data analytics often require substantial short-term investment. Spending on emerging technologies should be done as part of a long-term strategy, which needs the buy-in of all stakeholders – including employees, who may be resistant to change or supply chain partners whose systems and processes may not yet be compatible.
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Why businesses must bridge the ‘generational gap’ to align with Saudi’s AI ambitions
A significant challenge lies in bridging the generational gap in AI adoption. Younger generations, particularly Gen Z, have grown up immersed in technology and tend to feel at ease leveraging AI in the workplace. Millennials, who have witnessed firsthand the transformative power of digital innovation, are close behind. In contrast, more experienced professionals, including Gen X and Baby Boomers, often express greater caution, reflecting a natural hesitancy to embrace new ways of working. This divergence is especially relevant as in the kingdom, nearly two-thirds of the population are under 30. Yet older generations still hold many decision-making roles within organisations. As companies aim to unlock AI’s transformative potential, they must address this gap, ensuring that employees across all demographics are equally equipped to harness AI’s benefits.
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KAUST scientists lead Saudi Arabia’s first scientific mission to Antarctica
KAUST has sent the first researchers from Saudi Arabia on a scientific mission to Antarctica since signing on to the Antarctic Treaty in May 2024. Carlos Preckler and Diego Rivera, who work with Ibn Sina Distinguished Professor Carlos Duarte, collected samples from the continent to understand how the recovery of whale populations acts as a natural mitigator of climate change by examining their effects on carbon sequestration. The mission ran from January 11 to February 27. The Saudi-based research team has collected ocean samples that they will use to provide the first quantitative measurements of the impact whales have on carbon capture and thus climate change. The information gained will assist in assessing the economic benefits of whale hunting and conservation policies and other activities that affect marine life. Antarctica is deemed the best choice for the study of whale populations because of the well-chronicled and intense whale hunting in the 20th century that depleted the populations of great whales.
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Can Gulf States Help End the War in Sudan?
Sudan’s deadly war has dragged on nearly two years, killing around 150,000 people, displacing more than 11 million, according to some reports, and causing widespread famine. Both sides have been accused of widespread war crimes, but in early January, the United States formally accused one of the warring parties, the Rapid Support Forces, of genocide, and sanctioned its leader, Lt. Gen. Mohammed Hamdan Dagalo (known as Hemedti). U.S. officials also sanctioned Sudan’s army chief, Lt. Gen. Abdel Fattah al-Burhan, alleging that the Sudanese Armed Forces intentionally targeted civilians and denied humanitarian aid access during the war. U.S. officials also argue that the Sudanese Armed Forces have used chemical weapons. Saudi Arabia, the United Arab Emirates, and Qatar have all attempted to support conflict mitigation and humanitarian aid in Sudan’s deadly conflict, but these efforts have been overshadowed by increasing Gulf competition and power projection in Sudan’s war as Gulf states seek to deepen their influence in the Red Sea and Horn of Africa.
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South Asia’s Pivot to the Gulf
South Asia – India, Pakistan, Afghanistan, Bangladesh, Sri Lanka, Nepal, Bhutan, and the Maldives – remains one of the most strategically critical yet least integrated regions in the world, both politically and economically. With one-quarter of the world’s population, abundant natural resources, and large consumer markets, South Asian countries have significant economic potential. However, intraregional trade amounted to just $23 billion in 2025, far below the projected $67 billion threshold and a miniscule fraction of India’s over $130 billion annual bilateral trade with China. South Asia occupies the strategic land bridge between the booming economies of East Asia and the energy-rich Gulf Cooperation Council countries. These regions are connected by the Indian Ocean and separated only by the Arabian Sea, making the subregion a vital transit hub for trade and energy flows. Nevertheless, despite this strategic location, regional trade blocs do not reflect strong trade figures for the subregion.
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Saudi Arabia offers safe return for dissidents without consequences
“Saudi Arabia welcomes those who were misled and manipulated for ulterior motives, as long as their opposition remained ideological and they were not implicated in criminal cases,” Al Howairini stated. Dissidents wishing to return can contact the designated number (990) to provide their identity and location for assistance. Alternatively, they may authorise a family member to coordinate with the relevant authorities on their behalf. Saudi embassies worldwide are also prepared to facilitate and support their safe return. Al Howairini further underscored the critical role of Saudi society in combating extremism and terrorism, revealing that nearly 20% of detainees in the country were taken into custody following requests or coordinated efforts by their own families. He noted that families increasingly recognise the state’s proactive approach in safeguarding its citizens from extremist influences.
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Lebanese president hopes to mend ties with Saudi Arabia in first visit in years
Lebanon’s president said Monday that he hopes to strengthen ties with Saudi Arabia during a visit to the kingdom following years of strained relations between the countries. Joseph Aoun became Lebanon’s first head of state to visit Riyadh in six years. Saudi Arabia has been vocal about its concerns over the Iran-backed militant Hezbollah group and Lebanon’s positions on some regional issues. In recent years, it imposed a travel and import ban on Lebanon. Aoun’s appointment as president as well as that of a diplomat and former head of the International Criminal Court, Nawaf Salam, as prime minister are both seen as major blows to Hezbollah. As relations slowly thaw, Lebanon hopes that Saudi Arabia will lift the travel ban on the cash-strapped country, restore trade and help its reconstruction efforts after the war between Hezbollah and Israel left southern and eastern Lebanon in ruins.
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US firm wins world’s tallest tower deal
US-based Turner has been appointed as the project manager for the 1,000-metre-plus Jeddah Tower in Saudi Arabia. Turner was the project manager for the Burj Khalifa in Dubai, which at 828 metres tall has been the world’s tallest building since 2010. The appointment comes amid other signs of clear progress on the Jeddah Tower. The concrete pouring works for Jeddah Tower began on 20 January, marking the official recommencement of construction works. The project’s contractor, the local Saudi Binladin Group (SBG), has received a payment of SR712m ($190m) for work on the tower. Last year, the project development company, Jeddah Economic Company (JEC), signed an estimated SR8bn 42-month contract with the local SBG to resume construction work on the tower. SBG then began engaging with the supply chain to work on the project. SBG awarded Beijing-headquartered Jangho Group a facade works contract that involves engineering design and technical services for the project’s structural glass and adhesive curtain walls.
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