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685 ‘exceptional talents’ obtain Premium Residency at LEAP ’25
- February 13,2025
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- SUSTG Team
Saudi Arabia’s Premium Residency Program which is intended to increase the number of highly skilled individuals, entrepreneurs, and investors residing long-term in Saudi Arabia got a big boost at Leap ’25.
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LEAP ’25 sees big bets on AI, data centers and IT
- February 12,2025
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- SUSTG Team
LEAP 2025 Tech Conference, the fourth iteration of this event, and organized by the Ministry of Communications and Information Technology and others, has seen over $22 billion in commitments across a broad range of tech sectors.
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Sotheby’s ‘Origins’ auction in Diriyah nets $17 million; Saudi artists in demand
- February 11,2025
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- SUSTG Team
Sotheby’s inaugural auction in Saudi Arabia which was also the kingdom’s first major international art and luxury auction, took place in Diriyah this weekend and included works by regional and Saudi artists.
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Lenovo and Alat break ground on new manufacturing facility
- February 10,2025
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- SUSTG Team
Making good on a strategic collaboration agreement announced in May 2024, Alat and Lenovo broke ground on Sunday on a new manufacturing plant outside of Riyadh.
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Saudi population grows to 35.3M in H1 2024
- February 7,2025
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- SUSTG Team
Saudi Arabia’s population grew 4.7% to 35.3 million by mid-2024 according to the General Authority for Statistics.
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Automotive cluster named in King Abdullah Economic City (KAEC)
- February 6,2025
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- SUSTG Team
Crown Prince Mohammed bin Salman named the automotive manufacturing hub within King Abdullah Economic City the “King Salman Automotive Cluster” with the intent that it become an automotive industry center.
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Fitch gives Saudi Arabia Default Rating ‘A+’; Outlook Stable
- February 4,2025
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- SUSTG Team
Fitch Ratings has affirmed Saudi Arabia’s Long-Term Foreign-Currency Issuer Default Rating at ‘A+’ with a Stable Outlook.
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MBS meets Syrian President Al-Sharaa in Riyadh
- February 3,2025
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- SUSTG Team
Syria’s interim president Ahmed al-Sharaa chose to make his first international trip to Saudi Arabia where he met with Crown Prince Mohammed bin Salman in Riyadh.
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Led by Saudi, GCC contract awards reach new high in 2024
- January 30,2025
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- SUSTG Team
In its recently released GCC Projects Market Update, KAMCO Invest found that the total value of contracts awarded in the Gulf Cooperation Council (GCC) reached a new high of $273.2 billion in 2024.
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Dream of the Desert, Middle East’s first 5-star luxury train
- January 29,2025
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- SUSTG Team
Saudi Arabia Railways and Italian hospitality company Arsenale have officially unveiled the final designs of the Dream of the Desert train, the first five-star luxury train in the Middle East.
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Gulf states must not allow use of airspace against Iran, Iranian official says
Tehran has told Gulf Arab states it would be "unacceptable" if they allowed use of their airspace or military bases against Iran and warned that any such move would draw a response, a senior Iranian official said. The official also said any action by Gulf states to balance oil markets should Iranian energy facilities be hit by Israel was not part of the discussions so far. The comments come amid growing concern over possible Israeli retaliation for last week's Iranian missile attack, as Iran's Foreign Minister Abbas Araqchi visits Saudi Arabia and other Gulf states including Qatar for talks on Wednesday.
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HALO Space expands testing operations to Saudi Arabia
Saudi Arabia’s Communications, Space, and Technology Commission has played a key role in supporting HALO Space’s endeavors. The upcoming full-scale, uncrewed test flight of the Aurora capsule is scheduled for late 2024 and aims to reach altitudes of up to 20 miles (30 kilometers). This flight is expected to be critical for validating the capsule’s systems and safety mechanisms before future commercial flights are planned.
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IRGC Newspaper Demands Nuclear Bomb
While some reformist media outlets warn Pezeshkian that the present conflict with Israel may evolve into a military confrontation between Iran and the United States (and a prolonged Israeli and U.S. bombing campaign against Iran similar to the U.S. bombings of Iraq throughout the 1990s) the IRGC’s main mouthpiece, Javan, urges Iran to change its nuclear doctrine, which to judge by the article quoting American political scientist the late Professor Kenneth Waltz saying “Peace-lovers ought to love the nukes!,” may indicate nuclear breakout.
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Qiddiya awards SAR 4B stadium project contract to Saudi-Spanish consortium: Report
Qiddiya Investment Co. (QIC) awarded the construction contract for the Prince Mohammed bin Salman Stadium project to a Saudi-Spanish consortium of Nesma & Partners Contracting Co. and FCC Construcción, at an estimated value of SAR 4 billion, MEED reported. The contract covers the construction of a multi-purpose stadium in the sports and entertainment zone of Qiddiya City, with a capacity of 45,000 spectators. US architectural design firm Populous is the project’s consultant.
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Airlines Forced Into Saudi Airspace Amid Mideast Conflict
Airlines connecting Europe with the Middle East and South Asia are being forced to fly a more circuitous path using Egyptian and Saudi Arabian airspace as the escalating regional conflict blocks of routes over Iran and Iraq for many carriers. Bloomberg's Leen Al-Rashdan reports.
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Saudi space pioneer recognized by Guinness World Records as first female Arab in space
The first female Arab astronaut has had her pioneering spaceflight recognized by Guinness World Records, the organization announced on Monday. Saudi Rayyanah Barnawi was part of the Axiom Mission 2 that launched from Cape Canaveral in Florida on May 21, 2023. She was accompanied by fellow Saudi Ali Al-Qarni aboard a craft bound for the International Space Station. In her first message she said: “This trip does not represent me alone, but rather the entire Arab world and all Saudis. We are living a dream that once seemed impossible but has become reality.”
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2024 Fiscal Transparency Report: Saudi Arabia
The limited data available in the government’s annual budget statement broke down expenditures by category, but not by ministry or agency. The annual budget statement did not show allocations to the royal family, and the government maintained off-budget accounts not subject to public oversight. Military and intelligence budgets were not subject to legislative oversight or a civilian public body. When actual revenues and expenditures did not reasonably correspond to those in the enacted budget, the government produced and publicly issued revised budget estimates.
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Saudi Arabia plots space industry transformation
Saudi Arabia’s sovereign wealth fund-backed Neo Space Group (NSG) is looking to lease multi-orbit capacity to bolster its foothold in the satellite market, ahead of likely owning and operating its own constellation. “Our team is currently working hard to identify those areas in the market where it makes sense to deploy our own capital,” NSG’s newly appointed CEO Martijn Blanken told SpaceNews in an interview.
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HALO Space to Build Final Assembly Facilities in Saudi Arabia, Prepares for Test Flight
“The decision to establish industrial capabilities like final assembly, testing facilities, a spaceport, and an immersive dome experience in Saudi Arabia reflects the Kingdom’s favourable business environment,” Mira said. “We believe Saudi Arabia is well-positioned to lead the near-space sector, and we’re excited to deepen our partnership as we push forward with our mission.”
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Saudi Arabia presents space advances at G20 meeting in Brazil
Saudi Space Agency Vice Chairman and CEO Mohammed Al-Tamimi led the Saudi delegation at the fifth G20 Space Economy Leaders Meeting in Foz do Iguacu, Brazil, from Sept. 11 to 13. This year’s meeting, initiated during Saudi Arabia’s G20 presidency, focused on “Space Economy and Climate Change: Challenges and Opportunities.” Al-Tamimi highlighted Saudi Arabia’s advances in its space sector and the Kingdom’s commitment to using space technology for sustainable development and climate change mitigation.
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