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New Royal Decrees in Saudi Arabia Change Up Regional Leadership Posts
- December 13,2023
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- SUSTG Team
A number of Saudi royals and officials were given new jobs on Tuesday as authorities issued a raft of royal decrees, according to reports by the SPA and Arab News.
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Al-Falih Says Vision 2030’s Impact on Saudi Economy is Visible in 66% Increase in GDP
- December 12,2023
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- SUSTG Team
Saudi Arabia’s Minister of Investment, HE Khalid Al-Falih, said that the Kingdom’s gross domestic product (GDP) has increased by 66 percent since the launch of Saudi Arabia’s Vision 2030.
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The 966 LIVE at Hevolution’s Launch in Riyadh with HRH Dr. Haya Bint Khaled Bin Bandar Al-Saud and Dr. Mehmood Khan, CEO of Hevolution
- December 8,2023
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- SUSTG Team
The 966 Podcast features a special episode this week for episode 114 with an exclusive, live duo of conversations, first with HRH Dr. Haya Bint Khaled Bin Bandar Al-Saud, Vice President of Organizational Strategy and Development for the Hevolution Foundation, and then with Hevolution’s CEO, Dr. Mehmood Khan. Lucien and Richard recorded conversations with top […]
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Saudi Private Sector Employment Reaches 10.8m – Latest Data
- December 6,2023
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- SUSTG Team
Saudi Arabia’s total number of employees in the private sector reached 10.8 million in November, up 0.93 percent from the previous month, according to newly released figures reported by Arab News.
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Russia’s President Putin to Visit Saudi Arabia and U.A.E. on Wednesday
- December 5,2023
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- SUSTG Team
President Vladimir V. Putin will make a rare trip to the Middle East on Wednesday saying he would discuss bilateral relations, oil and international affairs in Saudi Arabia and the United Arab Emirates.
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Saudi Arabia NEOM Investment fund to hold 6% in Italy’s Technogym
- December 4,2023
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- SUSTG Team
Saudi Arabia NEOM Investment Fund (NIF) will hold 6% of Technogym share capital after an 111-million-euro ($120.83 million) investment and “intends to be a long-term minority shareholder in the Italian fitness-equipment maker,” the fund said on Friday per a report in Reuters.
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The Future of Fintech and Blockchain with Amit Sharma, CEO of FinClusive
- November 27,2023
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- SUSTG Team
Amit Sharma, CEO and Founder of FinClusive Capital, a hybrid fin-/reg-tech company based in the United States, joins The 966 to talk digital banking, fintech and more. Finclusive, headquartered in New York, New York, is a global compliance, digital identity and payments platform for a new era of financial services.
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Two New Towers Planned for Saudi Arabia’s NEOM as Kingdom’s Building Boom Continues with Epicon
- November 21,2023
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- SUSTG Team
Two new towers aimed at attracting tourists to the Gulf of Aqaba in Saudi Arabia are set to be built in the special economic zone of NEOM as part of a new development launched last week called Epicon.
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An exclusive interview with Dr. Mehmood Khan, founding CEO of Saudi Arabia’s HEVOLUTION Foundation
- November 20,2023
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- SUSTG Team
The 966 speaks with Dr. Mehmood Khan, CEO of Saudi Arabia’s Hevolution Foundation, a global non-profit revolutionizing the healthspan field launched by Royal Decree and chaired by HRH the Crown Prince Mohammed bin Salman. Dr. Khan shares his journey, Hevolution’s vision and insights into how he is working to build the organization’s operations from the […]
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Fitch Affirms Saudi Arabia’s Public Investment Fund at ‘A+’; Outlook Stable
- November 17,2023
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- SUSTG Team
Fitch Ratings has affirmed Saudi Arabia’s Public Investment Fund’s (PIF) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at ‘A+’ with Stable Outlook, the organization said in a press release.
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MUST-READS
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Saudi Arabia mandates national attire for male secondary school students
The Ministry of Education has mandated that all male students in public and private secondary schools wear national attire, in line with directives from Crown Prince and Prime Minister Mohammed bin Salman. The initiative aims to reinforce national identity and educational values among students. Under the new policy, Saudi students are required to wear the traditional thobe along with a ghutra or shemagh, while non-Saudi students will wear the thobe, except for those attending foreign schools. National attire is regarded as a cornerstone of Saudi identity, supporting the Kingdom’s ongoing initiatives under Vision 2030 to strengthen cultural and historical awareness among the younger generation.
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Will the Ceasefire Lead to Normalization with Saudi Arabia?
Since the war began, Saudi Arabia has intensified its tone toward Israel, and public messages from Riyadh have become critical, even venomous. The peak came in November of last year, when Crown Prince Mohammed bin Salman, the strongman of the kingdom, accused Israel of committing “collective genocide” against Palestinians in Gaza. Such statements from the de facto leader of the Saudi kingdom had not been heard before and seemed to contradict some of his previous statements regarding Israel before the war. Since the onset of the war, the kingdom has called for an immediate ceasefire, and when it was achieved, the Saudi Foreign Ministry welcomed it, adding that the kingdom hopes that it will end the “Israeli barbarism and aggression” in Gaza. Initially, the kingdom had called for an IDF withdrawal from Gaza, but recently, it added the demand for withdrawal “from all Arab territories,” referring to positions held by the IDF in southern Lebanon and the Syrian side of the Golan Heights. In doing so, Saudi Arabia is aligning itself with other Arab states.
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Combine yachting and Formula 1 at the Saudi Arabian GP
From 18 to 20 April, the Saudi Arabian Grand Prix will take place at the renowned Jeddah Corniche Circuit, offering a spectacular coastal venue where yachting and Formula 1 can combine. With capacity for yachts up to 120 metres, Jeddah Yacht Club and Marina still has berths available and is offering a 30% discount on rates over the event. Attending yachts will enjoy unparalleled convenience and the ability to soak up the electric atmosphere from the dock. “The marina is next door to the racetrack, so guests can be at the VIP lounges within minutes,” says Niel Gow, Agency Operations Manager at Hill Robinson. “It really is the best way to attend the event.”
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Türkiye in Talks with Saudi Arabia for US$6 Billion Defense Deal. KAAN to Get First Foreign Customer?
The Turkish Air Force is expected to begin operating the KAAN fighter jet in 2028, with an initial delivery of 20 aircraft from TAI (TUSAS). By 2029, TAI is projected to produce two KAAN fighter jets per month, generating approximately $2.4 billion (RM9.6 billion) in annual revenue. Recently, Defence Security Asia reported that Saudi Arabia is considering a proposal to acquire approximately 100 units of the KAAN fifth-generation fighter jet, which is currently under development in Türkiye. Discussions on the potential acquisition were reportedly held during a recent visit by Saudi Royal Air Force Commander Prince Turki bin Bandar Al Saud to Türkiye. During his visit, Prince Turki met with key Turkish defense companies, including Roketsan, Aselsan, and Turkish Aerospace Industries (TAI), the manufacturer of the KAAN fighter jet.
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Saudi Arabia’s Q4 GDP expands at fastest quarterly pace since 2022
Saudi Arabia’s economy grew at the fastest pace since 2022 during the fourth quarter of last year, buoyed by expansion of both the oil and non-oil sectors as the kingdom continues to pursue its economic diversification agenda. The country’s gross domestic product grew by 4.4 per cent on an annual basis during the three-month period to the end of December “supported by the growth of key economic activities”, the kingdom’s General Authority for Statistics said on Thursday. This rise is markedly higher than the 2.8 per cent year-on year GDP growth recorded in the third quarter of 2024, and is the sharpest rate of expansion in the past two years, according to Gastat data.
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Interpol to establish regional office in Saudi Arabia
Interpol is to establish an office in Saudi Arabia that will serve the Middle East and North Africa region. Hisham Al-Faleh, undersecretary at the Kingdom’s Ministry of Interior, and Jurgen Stock, secretary-general of the international police organization, signed a host country agreement on Wednesday. Prince Abdulaziz bin Saud, the Saudi Minister of Interior, and Maj. Gen. Ahmed Naser Al-Raisi, the president of Interpol, also attended the signing ceremony, the Saudi Press Agency reported. In addition, they discussed Interpol’s activities during a meeting that also included Nasser Al-Dawood, the deputy minister of interior; Brig. Gen. Abdulmalik Al-Saqeeh, the director general of Saudi Interpol; and other senior officials.
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Adesanya vs Imavov: UFC fight Saudi Arabia – start time, card, how to watch
The Ultimate Fighting Championship (UFC) travels to Saudi Arabia with an impressive lineup of mixed martial arts (MMA) talent, headlined by a thrilling main event middleweight clash between former two-time UFC champion Israel Adesanya of New Zealand and France’s rising star, Nassourdine Imavov. The co-main event features a much-anticipated bout between the all-round brilliance of Shara Magomedov from Russia and the powerful punching Briton, Michael Page.
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Saudi Arabian team to standardise use of seawater in concrete production
A team led by Saudi Arabian developer Neom has announced plans to research new forms of concrete, including ones that incorporate seawater, plastics, fine sand and construction waste. The NovusCrete consortium will look for ways to reduce the environmental impact of concrete, and also to cut costs and increase its lifespan and ease of recycling. Other members of the team include the kingdom’s Public Investment Fund, the Saudi Investment Recycling Company, Swiss chemicals producer Sika and US-based concrete researcher ClimateCrete. They will also work alongside the American Concrete Institute, which has established a committee for the use of seawater in concrete.
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Qatar approves memorandum on nuclear safety cooperation with Saudi Arabia
The Qatari Cabinet has approved a draft memorandum of understanding for cooperation in nuclear safety and radiation protection between its Ministry of Environment and Climate Change and Saudi Arabia’s Nuclear and Radiological Regulatory Commission. This decision was made during the Cabinet’s regular meeting yesterday morning, chaired by Prime Minister and Minister of Foreign Affairs Sheikh Mohammed Bin Abdulrahman Al Thani, according to the Qatar News Agency (QNA). In 2006, the Supreme Council of the Gulf Cooperation Council (GCC) decided to conduct a joint study on the use of nuclear technology for peaceful purposes, including electricity generation and water desalination. The six GCC countries agreed to carry out an initial feasibility study, followed by a detailed assessment and an implementation plan. The results of the detailed study, completed in 2010, confirmed the technical and economic feasibility of establishing a joint nuclear power plant.
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Saudi Arabia’s Construction Boom: $71.5 Billion in Projects Awarded in 2024
Saudi Arabia’s construction sector is experiencing a significant surge. The Kingdom awarded a staggering 314 public projects in 2024. These projects total approximately 267.8 billion Saudi riyals ($71.5 billion USD). This marks the highest annual project value since the 2020 Covid-19 pandemic. The Saudi Contractors Authority (SCA) released these impressive figures. The SCA represents a majority of construction firms within the Gulf Kingdom. April witnessed the highest project value, reaching SAR57.4 billion ($15.3 billion). January followed with projects worth SAR36.8 billion ($9.8 billion). In December, the government awarded 11 projects totaling about SAR10.5 billion ($2.8 billion). One project from December will complete in 2025, two in 2026, six in 2027, and two in 2030.
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