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NEOM Unveils Leyja, the Area’s Latest Sustainable Tourism Destination
- October 16,2023
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- SUSTG Team
Saudi Arabia’s NEOM unveiled on Sunday the latest addition to its portfolio of ecotourism developments, “Leyja,” that starts along the Gulf of Aqaba coast and stretches inland through a valley surrounded by 400-meter-high mountains.
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What the Israel-Hamas War Means for Saudi Arabia and the Middle East
- October 13,2023
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- SUSTG Team
Hamas’ horrific and stunning attack in Israel last week has upended the status quo in the region. With Israel now retaliating in Gaza, bombing an already desperate populace in the Gaza strip, leaving hundreds of thousands of people homeless there, and with thousands dead and injured on both sides, the war has thrown the Levant […]
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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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Saudi Aramco expands into LNG by buying stake worth $500m in MidOcean Energy
- September 29,2023
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- SUSTG Team
Saudi Aramco, the world’s largest oil-exporting company, has signed a $500 million agreement to buy a minority stake in liquefied natural gas (LNG) company MidOcean Energy. This is Aramco’s first investment in LNG and is part of the company’s efforts to diversify its activity beyond its core oil business. The strategic partnership enables Aramco to tap into […]
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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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MUST-READS
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Saudi-based Deep-Tech VC Fund Beta Lab makes strategic investment in Cross-Border fintech startup EximPe
Beta Lab, a leading Saudi venture capital firm specializing in deep tech innovations, is excited to announce its recent strategic investment in EximPe, marking a significant expansion into the MENA region. This collaboration aligns with Beta Lab’s mission to disrupt traditional sectors through deep tech and supports our commitment to fostering innovative solutions that simplify complex challenges. The funding will be utilized to further Eximpe’s mission of using technology to simplify cross-border transactions and expand its reach with SMEs.
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Mastercard partners with Loop to launch innovative payment solutions in Saudi Arabia
Mastercard has partnered with Loop, a leading digital payments technology company licensed by SAMA, to empower businesses and consumers across the Kingdom with greater access to advanced credit card offerings and innovative payment solutions. The partnership will see Loop expand its portfolio, enhance its suite of products and services through leveraging Mastercard technology and expertise. Having signed an exclusive issuing agreement, Loop and Mastercard will partner to issue BIN ranges, enabling consumers, merchants and fintech’s across the Kingdom to benefit from innovative payment solutions.
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Saudi Arabia’s PIF, ATP announce strategic partnership to enhance global tennis
Saudi Arabia’s Public Investment Fund (PIF) and the governing body of men’s professional tennis, ATP Tour, announced on Wednesday a new multi-year strategic partnership, in a move that further elevates the Kingdom’s position in the global sports scene. The partnership marks a “significant shared commitment to enhancing global tennis for players, fans, tournament organizers and stakeholders at all levels of the sport,” both PIF and ATP said in a statement.
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ATP signs multi-year strategic partnership with Saudi Arabia’s PIF
The ATP Tour and Saudi Arabia's Public Investment Fund (PIF) have signed a multi-year strategic partnership, the governing body of men's tennis said on Wednesday in a move highlighting the growing influence of the Gulf nation on global sport. The PIF will now become the official naming partner of the men's rankings as well as partner ATP tournaments in Indian Wells, Miami, Madrid, Beijing, the season-ending ATP Finals in Turin and the Next Gen ATP Finals staged in Jeddah.
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CFA Puts Saudi Arabia at the Heart of Its Middle East Expansion
The CFA Institute is working to expand its membership network in the Middle East, with Saudi Arabia a key focus as the country opens up its financial markets and looks to diversify its investment industry. The non-profit educational organization for chartered financial analysts aims to double the number of members in the kingdom to about 1,000 over the next three years, while also growing the pool of candidates by 20% a year, said Marg Franklin, its president and chief executive officer.
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Saudi source denies reports that commerce minister met Israeli counterpart
An official Saudi source denied on Monday allegations circulating on social media platforms regarding a meeting between Majid Al-Qasabi, Minister of Commerce, and an Israeli occupation official, Saudi Press Agency reported. The same source said in a statement carried by SPA that the video circulated was while Al-Qasabi was standing with his Nigerian counterpart, prior to the opening of the thirteenth Ministerial Conference of the World Trade Organization in Abu Dhabi. “The individual shook (the Saudi minister’s) hand and then was introduced, without (Al-Qasabi’s) prior knowledge,” the source told SPA.
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adidas Saudi targets massive expansion, 100 stores, partnerships with Al Nassr, Saudi Pro League, Al Ahli
Adidas is currently executing an aggressive expansion plan with new partnerships and retail stores in Saudi Arabia, Bilal Fares, General Manager of EMC revealed in an exclusive interview with Arabian Business. Recognising the growth in the consumer market in line with Saudi Vision 2030, Fares said, “This growth trajectory reflects our dedication to expanding our presence and enhancing consumer engagement within Saudi Arabia.” He highlights this to be an “exciting time” for the brand.
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Israeli industry minister meets Saudi counterpart at WTO talks in UAE
Israeli Economy and Industry Minister Nir Barkat met his Saudi counterpart on the sidelines of a World Trade Organization (WTO) meeting in Abu Dhabi on Monday, voicing confidence the countries can "make history together", Barkat's spokesperson said. The photographed meeting with Saudi Commerce Minister Majid bin Abdullah al-Qasabi was a rarity given the lack of formal relations between the countries, though the United States has sought to bring them closer.
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How to start a Company in Saudi Arabia
Saudi Arabia has been one of the booming investment grounds that allow business investors to step forward and form a business entity
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Late own goal takes Al-Ittihad into all-Saudi Asian CL quarters clash
Toma Tabatadze's late own goal spared Karim Benzema's blushes as the defender gifted Saudi Arabia's Al-Ittihad a 2-1 win over Navbahor of Uzbekistan on Thursday to set up an Asian Champions League quarter-final meeting with compatriots Al-Hilal. The French striker headed Jamshid Iskanderov's free kick into his own net in the 25th minute to give the visitors the lead in Jeddah, with the teams going into the tie level after a scoreless draw in the first leg last week.
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