SUSTG.com / Research

Discover stories, topics, and more about Saudi Arebia faster.

Recent stories from sustg

MUST-READS

  • Saudi Arabia tops MENA for venture capital investment in 2024

    Saudi Arabia maintained for the second year its top position across MENA region in terms of the amount of venture capital (VC) funding. The Kingdom held more than 40% of VC investments in the region, or $750 million, in 2024, according to venture data platform MAGNiTT. The United Arab Emirates (UAE) came second with $613 million. The value of venture investments in Saudi Arabia was down 44% in 2024, driven by an 85% year-on-year (YoY) decline in the value of mega deals (deals exceeding $100 million). According to the Saudi VC Report for 2024, VC deals hit a record high during the period, reaching 178, up 16% YoY, driven by increased early-stage activity.

  • Arab leaders meet in Saudi Arabia to hash out Gaza plan

    The official Saudi Press Agency said the "fraternal consultative" meeting saw an "exchange of views on various regional and international issues, especially joint efforts in support of the Palestinian cause, and developments in the situation in the Gaza Strip". Egyptian President Abdel Fattah al-Sisi's office said he had left the Saudi capital after the sit-down with the leaders of Bahrain, Jordan, Kuwait, Qatar, Saudi Arabia and the United Arab Emirates. The Saudi source had told AFP that the summit participants would discuss "a reconstruction plan to counter Trump's plan for Gaza". The Gaza Strip is largely in ruins after more than 15 months of war between Israel and Hamas, with the United Nations recently estimating that reconstruction will cost more than $53 billion.

  • Saudi Arabia hosts ‘informal’ Arab summit on post-war Gaza

    Saudi Arabia hosted an “informal” summit of Arab states in its capital Riyadh on 21 February to discuss regional efforts to propose an alternative to US President Donald Trump’s controversial expulsion and reconstruction plan for Gaza. It was hosted by Saudi Crown Prince Mohammed bin Salman (MbS) and attended by Jordanian King Abdullah II, Qatari Emir Tamim bin Hamad Al Thani, Egyptian President Abdel Fattah el-Sisi, UAE President Mohammed bin Zayed (MbZ), Kuwaiti Emir Mishal Al-Ahmad Al-Jaber Al-Sabah, and Bahrain’s Crown Prince Salman bin Hamad Al Khalifa. The summit began and ended on Friday, and no final statement was issued. A Saudi source told AFP that the “discussion was confidential.”

  • Saudi Arabia Boosts Travel Industry and Non-Oil Economy

    In a historic turn for Saudi Arabia’s economic diversification, the kingdom’s non-oil private sector economy recorded its strongest growth in over a decade in January 2025. Buoyed by a significant surge in new orders and accelerating business output, the Saudi Arabia Kingdom’s economy continues to reap the benefits of its strategic push to reduce reliance on oil, positioning Boosts itself as a global leader in non-oil industries. One of the primary drivers behind this impressive growth has been the uptick in new orders within the kingdom’s non-oil private sector. According to Riyad Bank’s Chief Economist Naif Al-Ghaith, nearly 45% of businesses across the sector reported higher sales volumes, which they attribute to improved economic conditions and the rapid acceleration of key infrastructure projects. These projects, part of the broader Vision 2030 transformation, continue to be a cornerstone of Saudi Arabia’s diversification strategy.

  • Saturday’s $20 million Saudi Cup could be year’s best race

    Saturday's $20 million Saudi Cup is not only the richest race in the world, but also, potentially, this year's best. And that 1 1/8 miles is only the capper on a program that has stars from around the globe competing from sprints to marathons, on dirt and on turf. The question of the day is: Can Romantic Warrior, the Hong Kong superstar already ranked as the top money-earner in Thoroughbred history, transition successfully from turf to the dirt surface at King Abdulaziz Racecourse? If he can, even the opposition reckons him a good bet to earn his 11th Group 1 victory in a fifth nation and push his earnings over the $33 million mark. The "undercard" has runners who have competed in the world's top races, including last year's winner, Remake; reigning Breeders' Cup Sprint winner Straight No Chaser; and Japan Cup runner-up Shin Emperor. The Saudi Derby has several contenders who could go on to the UAE Derby and the Run for the Roses.

  • King Salman approves Saudi riyal symbol

    King Salman on Thursday approved the official symbol for the Saudi riyal, marking the beginning of a new chapter in the Kingdom’s financial journey, as reported by the Saudi Press Agency. Saudi Central Bank Gov. Ayman Al-Sayari expressed his gratitude to the nation’s leadership for launching the symbol, which he believes “reinforces Saudi Arabia’s financial identity both locally and globally.” Al-Sayari further noted that this initiative underscores the growing international influence of the Saudi riyal, while also fostering a sense of national pride and cultural unity. He added that the newly designed symbol represents the Kingdom’s rich cultural heritage.

  • How to Celebrate Saudi Founding Day in 2025: Culture, Heritage, and Luxury Experiences

    Saudi Founding Day, celebrated annually on February 22, is a momentous occasion that honours the deep-rooted history, culture, and heritage of the Kingdom. Whether you are in Saudi Arabia or beyond, there are various immersive experiences to mark this special day. From engaging in cultural events to indulging in luxury hospitality, here’s how to celebrate Saudi Founding Day in 2025.

  • Saudi Arabia unveils new Saudi riyal symbol, design derived from Arabic calligraphy

    Saudi Arabia on Thursday unveiled a symbol for the Saudi riyal approved by King Salman bin Abdulaziz, the Saudi Press Agency (SPA) reported, citing the Saudi Central Bank (SAMA). The reveal of the Saudi riyal symbol is a historic move that is set to reinforce the Saudi currency’s identity, according to the report. The Saudi riyal symbol “embodies the Kingdom’s rich cultural heritage, carrying the name of the national currency ‘Riyal’ in a design derived from Arabic calligraphy,” SPA said. The implementation of the new symbol will be gradual for financial and commercial transactions, with coordination across all relevant entities, al-Sayari added. The initiative aims to promote national identity and cultural belonging, highlight the role of the national currency, and showcase the Kingdom among major global economies and G20 members, SPA reported. The governor acknowledged all departments involved in the symbol's development project led by SAMA, including the Ministry of Culture, the Ministry of Media, and the Saudi Standards, Metrology and Quality Organization.

  • Normalization and Displacement: Saudi Arabia and Trump’s Gaza Proposal

    For Saudi Arabia, Palestinian displacement significantly stymies the prospects of normalization. Thus, the two projects are not merely intersecting but fundamentally incompatible. This incompatibility represents one of the potential sources of disagreement with Trump in his second term, alongside his demands for lower oil prices, which conflict with Saudi Arabia’s interest in maintaining high oil prices to fund its domestic needs and Vision 2030 projects. The kingdom is beginning to realize that dealing with Trump in a second term will be more challenging than during his first. Nevertheless, the overall atmosphere between the two sides remains positive. Trump chose Saudi Arabia to host a February 18 US-Russian summit, and Saudi Arabia has avoided any negative remarks about Trump in the current crisis, focusing its criticism on Israel.

  • Syria’s rebuilding is bringing US partners Turkey and Saudi Arabia closer together

    Since Turkey ended a period of sharp tensions with several Gulf countries in 2021, Ankara has improved relations with all the countries in the region, and ties between Turkey and Saudi Arabia in particular have significantly improved. Ankara and Riyadh have put aside their past disputes and deepened their strategic relations. Now, the rebuilding of post-Assad Syria offers an opportunity for Turkey and Saudi Arabia to deepen their relations further. After becoming Syria’s new de facto leader, Ahmad al-Sharaa visited Saudi Arabia and Turkey for his first two visits abroad. This is a testament to the important role both countries are expected to play in the new Syria. Sharaa is likely attempting to show the new Syrian leadership’s intent to distance itself from Iran and attract the Saudi financial investment that Syria desperately needs.