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Shares of oil and gas driller ADES Holding Climbed Almost 30% above its listing price on its market debut in Riyadh
- October 11,2023
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- SUSTG Team
Shares of oil and gas driller ADES Holding climbed almost 30% above its listing price on its market debut in Riyadh on Wednesday after raising $1.22 billion in an initial public offering last month, according to Reuters.
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Regional HQ Executives to get Premium Residency Under New Government Scheme to Boost Investment
- October 10,2023
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- SUSTG Team
Saudi Arabia’s Ministry of Investment has developed a mechanism to grant premium residency to executives who base their company’s regional headquarters in the Kingdom, according to reports, in a bid to boost the business environment in the Kingdom and attract more foreign investment.
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First Hydrogen Train in Middle East to Begin Trials Next Week, Saudi Energy Minister Says
- October 9,2023
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- SUSTG Team
Saudi Arabia’s Minister for Energy Prince Abdulaziz bin Salman said on Sunday that the first hydrogen train in the Middle East will begin trials next week, according to a report in Reuters.
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Israeli Minister Speaks Publicly for the First Time in Saudi Arabia’s Capital Riyadh – Report
- October 5,2023
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- SUSTG Team
An Israeli minister spoke publicly for the first time in Saudi Arabia’s capital Riyadh about “blossoming ties” between the two countries, the latest sign the duo are inching toward normalizing relations – and even thanked the two leaders, mentioning first the Kingdom of Saudi Arabia.
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Saudi Arabia’s Tourism Effort Paying Off as Sector Sees 58% Growth in 2023 — Report
- October 4,2023
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- SUSTG Team
Saudi Arabia has been ranked second globally in terms of tourist arrivals during the first seven months of 2023, the Saudi Press Agency reported on Tuesday.
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Discussing the Venture Capital ecosystem in Saudi Arabia and the MENA with investor Amjad Ahmad and much more…
- October 2,2023
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- SUSTG Team
In episode 105 of The 966, Amjad Ahmad, a leading venture capitalist and seasoned investment professional with extensive experience in VC and private equity in emerging markets, joins to discuss the VC ecosystem in Saudi Arabia, the MENA region, and globally today. In addition to over two decades of experience investing in the region, Amjad […]
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Lucid Opens First-Ever Auto Plant in Saudi Arabia
- September 27,2023
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- SUSTG Team
Lucid has opened the first ever car manufacturing plant in Saudi Arabia at the King Abdullah Economic City as the kingdom looks to establish itself as a global player in the EV race.
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Saudi Arabia Sends Envoy to West Bank as Progress in Talks with Israel Gather Pace
- September 26,2023
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- SUSTG Team
Saudi Arabia, which has engaged in U.S.-brokered talks with Israel to potentially normalize relations, Tuesday sent a delegation to the occupied West Bank for the first time in three decades, VOA reports.
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The CEO of Riyadh’s financial district, Gautam Sashittal, joins The 966 to talk about the Kingdom’s original giga-project and the city of the future
- September 22,2023
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- SUSTG Team
Gautam Sashittal, the CEO of Riyadh’s financial district that has redefined Riyadh’s skyline and is the city’s most sought-after business address and lifestyle destination, joins The 966 podcast. The district is home to many of Saudi Arabia’s largest companies and regional headquarters of international corporations doing business in the region, as well as the Kingdom’s […]
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4th Riyadh Season Unveils New Logo and Theme Ahead of Launch; New Zone Created Called ‘Boulevard Hall’
- September 20,2023
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- SUSTG Team
Saudi Arabia’s General Entertainment Authority (GEA, revealed a new logo and identity for the fourth edition of “Riyadh Season,” set to launch on October 28 under the banner of “BigTime.”
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MUST-READS
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Crystal Lagoons Expands Middle East Success with Saudi Arabia Master Agreement Partnership with A’amal Group
Crystal Lagoons enters the largest country in the Middle East, Saudi Arabia, with a new mega deal to develop real estate, hospitality, and Public Access Lagoons™, also called PAL™, projects. The development plan consists of several luxury complexes, which will be located in coastal and inland cities such as Riyadh, as well as Jeddah, Dammam, Medina, and Khobar.
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Saudi Arabia approves amendments to the Transfer Pricing Bylaws to include zakat payers as part of covered entities
On 7 April 2023, the Zakat, Tax and Customs Authority (ZATCA) announced the issuance of Decision of the Board of Directors of the Zakat, Tax and Customs No (8-2-23) dated 28/08/1444AH (Decision), approving changes that will include zakat payers within the scope of the Saudi Arabian TP Bylaws.
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Islamic Arts Biennale: Saudi Arabia Puts a Spotlight on Global Islamic Art
One year after the Diriyah Contemporary Art Biennale launched in Riyadh, the Islamic Arts Biennale in Jeddah embraces myriad global traditions of Islamic religious practice and places the city at the center of narratives of pilgrimage, piety, migration, and movement.
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Chart: Saudi Arabia Is Investing Heavily in Desalination
The 4th MENA Desalination Projects 2023 Report details how a total of $39.3 billion is currently being spent on desalination projects across the region, whether planned or already underway. Saudi Arabia and the United Arab Emirates are investing the most of these countries, with a total of $14.58 billion and $10.28 billion worth of projects, respectively.
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Chart: Saudi Arabia Is Investing Heavily in Desalination [
The 4th MENA Desalination Projects 2023 Report details how a total of $39.3 billion is currently being spent on desalination projects across the region, whether planned or already underway. Saudi Arabia and the United Arab Emirates are investing the most of these countries, with a total of $14.58 billion and $10.28 billion worth of projects, respectively.
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Saudi Arabia’s economic heft extends from US property to scooter startups, new disclosure reveals
The fund’s portfolio contains 18 startups along with big-name VC and growth funds like California-based Andreessen Horowitz, 500 Global and New York-based, General Atlantic. According to Sanabil’s website, it invests $2bn per year aiming “to become a globally influential investor in venture, growth and small buyout assets”. Sanabil says it allocates 50 percent of its assets to venture capital, 30 percent to private equity and a fifth to a “liquid portfolio”.
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Saudi Arabia Super App Startup ToYou Hires Moelis to Help Raise Funds
Saudi Arabia’s ToYou, a startup that provides a range of services from ride hailing to food delivery, has hired Moelis & Co. to help raise funds to fuel the super app’s growth. Talks for the financing round are at an early stage and the target amount is still being firmed up, according to people familiar with the matter, who asked not to be identified because the information is private.
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Honeywell to open state-of-the-art regional manufacturing center in Saudi Arabia’s King Salman Energy Park
The new facility will become Honeywell’s eighth site in Saudi Arabia, reflecting both the company’s strategic growth objectives in the Kingdom and its support for Aramco’s In-Kingdom Total Value Add (IKTVA) program to advance local capabilities in research, development and manufacturing of cutting-edge technology. The facility will include engineering, manufacturing and assembly lines spanning Honeywell’s industrial automation and control equipment, field instruments, rugged mobile computers, gas detection equipment, fire safety systems and building management systems hardware. Additional capacity for potential future manufacturing expansion, as well as customer demonstration facilities, is also planned.
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Commentary: As longterm partnership with US fades, Saudi Arabia seeks to diversify its diplomacy
The Saudi deal with Iran and choice of China as an intermediary is consistent with a deeper shift in Saudi foreign policy, which has been evident for some time. By adapting to changing circumstances, Mohammed bin Salman is looking to Saudi Arabia’s future and trying to strike a wider balance of power in what he sees as an eventual “post-American” Gulf.
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Inside Georgina Rodríguez’s glamorous new life in Saudi Arabia: Cristiano Ronaldo signed a multimillion-dollar Al Nassr deal, moved countries – and his partner is already a Gulf Kingdom style icon
Enter 2023 and the family – Ronaldo, Rodríguez, their daughters Alana and Bella, as well as Cristiano Jr. (whose mother’s identity has never been revealed) and twins Eva and Mateo (who Ronaldo had with an American surrogate) all moved to Saudi Arabia.
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