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Hyundai and Red Sea Global Agree to Test EVs and Air Mobility Systems
- March 25,2024
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- SUSTG Team
Hyundai Motor Group said on Monday it has agreed with Saudi Arabia’s state-sponsored developer Red Sea Global (RSG) to cooperate in the Middle Eastern country’s push for electrification and other eco-friendly future mobility projects.
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Saudi Film Commission Reports Impressive 2023 Growth Statistics
- March 22,2024
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- SUSTG Team
Published in Screen Daily, the Saudi Film Commission reported on topline 2023 metrics for Saudi Arabia’s growing film industry. With more than 50% of the Saudi population under 25, there is a significant appetite for cinema, particularly for US action films, Egyptian comedies, and Saudi narratives.
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NYT Reports on Proposed $40B Saudi AI Investment
- March 20,2024
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- SUSTG Team
The New York Times’ Maureen Farrell and Rob Copeland report that Saudi Arabia is working with Wall Street banks to establish a $40 billion AI-focused investment fund.
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U. S. Secretary of State Antony Blinken to Visit Middle East this week Seeking Ceasefire Agreement
- March 19,2024
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- SUSTG Team
U.S. State Department spokesman Matthew Miller said, “The Secretary will discuss efforts to reach an immediate ceasefire agreement that secures the release of all remaining hostages, intensified international efforts to increase humanitarian assistance to Gaza, and coordination on post-conflict planning for Gaza, including ensuring Hamas can no longer govern or repeat the attacks of October 7.”
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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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Al-Hilal’s Streak and Saudi Professional League Spending
- March 13,2024
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- SUSTG Team
Saudi Pro League league standings leader, Al-Hilal, just notched it’s 28th straight win to break the world record for most consecutive wins by a top-flight team.
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Saudi Arabia was The Second-Largest Arms Importer in the World from 2019 to 2023 — SIPRI DATA
- March 12,2024
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- SUSTG Team
Saudi Arabia was the second-largest arms importer in the world from 2019 to 2023, accounting for 8.4% of all imports, according to recent data from the Stockholm International Peace Research Institute’s (SIPRI).
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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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Ramadan Fasting Projected to Begin March 11, Muslims Worldwide Prepare
- March 8,2024
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- SUSTG Team
Based on the Islamic lunar calendar, the dates for Ramadan move through the year which can result in significantly different daily fasting periods depending on where you live. Since there are 12 lunar months superimposed over 12 solar months, Ramadan “moves back” about 11 days per solar year.
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Saudi Arabia Transfers 8% of Aramco to Kingdom’s Public Investment Fund
- March 7,2024
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- SUSTG Team
Saudi Arabia has moved a roughly $160 billion stake in its state oil giant Aramco into its main sovereign wealth fund, the Public Investment Fund, according to a report in the Wall Street Journal.
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MUST-READS
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Saudi Arabia’s Waba Crater Recognized Among Top 100 Geological Landmarks Worldwide
The Saudi Geological Survey (SGS) announced the selection and nomination of the Waba Crater, also known as the Tamiya Quarry or scientifically as the Al-Mar Volcano, located in Hurrat Khishb, about 270 km northeast of Jeddah, as one of the top 100 geological heritage sites in the world for 2024. This distinction was bestowed by the International Union of Geological Sciences (IUGS) and the United Nations Educational, Scientific, and Cultural Organization (UNESCO).
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How to reach Saudi Arabia’s Gen Z, a generation on the ascent
The Saudi economy is increasingly powered by consumer spending. The country’s GDP per capita, at approximately $70,000, is already above that of many Western countries, such as Germany, Australia and the U.K. And retail sales in the country are projected to be on a steady upward trajectory for the next few years. Willing to spend and optimistic about their prospects, young Saudis are up to twice as likely to opt for higher-priced brands and retailers compared to their peers in advanced economies, according to a recent McKinsey report.
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Saudi Arabia draws the line: No political agendas at hajj
Saudi Arabia announced a ban on "misuse of the annual pilgrimage of Hajj for political or sectarian purposes," stressing that no one will be allowed entry to the country for "acts that disturb public security and law and order." According to draft regulations released by the Saudi Ministry of Hajj and Umrah, pilgrims are forbidden from bringing any prohibited items, such as pictures, books, flags, slogans, political publications, or other banned materials, into Saudi Arabia, according to the Saudi Gazette.
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Georgina Rodriguez spotlights Saudi Arabia on social media
Originally posted by Visit Saudi, the video captures the diverse landscapes of Saudi Arabia, showcasing everything from the desert areas to the country’s seascapes. It highlights the Kingdom’s history and modern developments, featuring scenes of golden sand dunes, the Ithra cultural center, the ancient site of AlUla, the mirrored Maraya concert hall, the Red Sea and lush greenery in gardens and forests.
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Saudi Arabia’s GEA unveils details for 5th edition of Riyadh Season
Saudi Arabia’s General Entertainment Authority (GEA) on Wednesday announced the details of the fifth edition of Riyadh Season 2024, set to begin on October 12. GEA chairman Turki Alalshikh said that the new season will feature 14 entertainment zones, 11 global championships, as well as 10 festivals and exhibitions.
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Exploring the 6 Saudi Arabia UNESCO World Heritage Sites
Al-Hijr, also known as Madâin Sâlih, was the first UNESCO World Heritage Site in Saudi Arabia. It is a remarkable archaeological site that dates back to the Nabatean Kingdom in the 1st century AD. The site served as an important trade hub along the incense route and is adorned with well-preserved monumental tombs, cave inscriptions, and rock-cut facades.
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Turkiye and Saudi Arabia forge defence technology partnership
The cooperation encompasses a broad range of defence sectors, including unmanned aerial vehicles (UAVs), missile systems, electronic warfare and advanced software systems. Turkish defence firms, renowned for their cutting-edge innovations, are expected to play a crucial role in the modernisation of Saudi Arabia’s defence industry. This partnership not only allows Saudi Arabia to acquire sophisticated military technologies but also to develop its indigenous production capabilities through joint ventures and collaborative research initiatives.
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KAUST, NEOM, And ENOWA Partner To Boost Saudi Arabia’s Green Hydrogen Economy
A strategic partnership has been established between King Abdullah University of Science and Technology (KAUST), NEOM’s Education, Research, and Innovation Foundation (ERIF), and ENOWA to support Saudi Arabia’s burgeoning hydrogen economy. The collaboration aims to advance hydrogen technology and contribute to the Kingdom’s vision of becoming a global leader in renewable energy and hydrogen production.
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Saudi Arabia’s pharma, medical device factories surge to 206 with $2.6bn investments
The number of pharmaceutical and medical device factories in Saudi Arabia has reached 206, with investments totaling SR10 billion ($2.6 billion), according to official data. The Ministry of Industry and Mineral Resources reported that this growth includes 56 pharmaceutical factories licensed by the Saudi Food and Drug Authority, with investments in the pharmaceutical sector alone exceeding SR7 billion.
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No longer a financial reservoir? Saudi Arabia’s spending confirms clear shift in strategy
The fund’s investments in domestic infrastructure and real estate development grew 15% year-on-year to 233 billion riyals, while its foreign investments increased 14% to 586 billion riyals. At the same time, the Saudi government introduced laws and reforms to facilitate and even mandate investment in the country as it builds out its Vision 2030 plan to diversity its oil-reliant economy.
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