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Brazilian Miner Vale Nears Deal to Sell 10% of Its Base Metals Business to Saudi Arabia’s PIF, Ma’aden – Report
- July 26,2023
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- SUSTG Team
Brazilian miner Vale is reportedly close to completing a deal to sell a roughly 10% stake in its $25 billion base metals unit to a joint venture between Saudi Arabia’s sovereign-wealth fund, the PIF, and the Saudi mining company Ma’aden, people familiar with the matter told the Wall Street Journal.
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Saudi Arabia’s Receipts from Oil Sales Abroad Down in May, Lowest in Over a Year – Report
- July 25,2023
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- SUSTG Team
Saudi Arabia’s leadership in OPEC+ with voluntary cuts to production has proven to be costly, sending its receipts from oil sales abroad down by a third, to its lowest in over a year, according to a report in Bloomberg, which cited the Kingdom’s General Authority for Statistics (GASTAT).
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PSG Confirms Saudi club Al Hilal Makes World Record $332m Bid for French Mega-Star Mbappé
- July 24,2023
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- SUSTG Team
Saudi team Al Hilal made a record €300 million ($332m) bid for Kylian Mbappé on Monday, which could see the France striker join Cristiano Ronaldo for the next year of the Saudi Pro League, according to reports.
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Saudi Arabia Leads MENA in VC Funding So Far in 2023, MAGNiTT Report Says
- July 19,2023
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- SUSTG Team
Saudi Arabia was the MENA leader in VC funding in the first half of 2023, a report by the research and analysis firm MAGNiTT said in its recently-released report.
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Turkey’s Erdogan Departs for Saudi Arabia to Seek Investment
- July 17,2023
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- SUSTG Team
Turkey’s President Recep Tayyip Erdogan will visit Saudi Arabia and the United Arab Emirates this week as he looks to attract foreign investment into Turkey.
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Physician and media commentator Dr. Qanta Ahmed joins The 966 to talk about ‘colossal’ changes in Saudi Arabia and much more
- July 14,2023
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- SUSTG Team
Physician, non-fiction author, and broadcast media commentator and writer Dr. Qanta Ahmed joins The 966 from New York to discuss the “colossal” changes in Saudi Arabia since Vision 2030 was launched and her view that Saudi Arabia has emerged as an increasingly important and influential global power. Dr. Qanta is an Academic Pulmonologist and Sleep Disorder Specialist at NYU […]
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Saudi PIF Reports $11 Billion Loss in 2022 after Earning $19 Billion in 2021 – Reports
- July 12,2023
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- SUSTG Team
Saudi Arabia’s sovereign wealth fund lost $11 billion on its investments last year, as the fall in global stock and bond prices impacted its holdings, according to a report in Bloomberg.
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Congressional Hearing Puts Capitol Hill Focus on Saudi Arabia’s Role in PGA
- July 11,2023
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- SUSTG Team
Two top PGA Tour officials will meet with US lawmakers today on Capitol Hill and plan to tell them that Saudi Arabia would have little sway over the golf business if a proposed merger with LIV Golf goes through, according to Bloomberg.
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Saudi businesswoman Dana Alajlani joins The 966, the PIF eyes a new sports investment arm, perceptions of Saudi and much more
- July 7,2023
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- SUSTG Team
Saudi businesswoman Dana Alajlani, Head of Public Affairs for the GCC at Sanofi, the French multinational pharmaceutical and healthcare company headquartered in Paris, joins The 966 to share her professional journey and story. Dana is also Co-Chairwoman of the American Chamber of Commerce in Saudi Arabia (AmChamKSA) and is involved there with the Women in […]
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Saudi Arabia Defends Oil Cuts with Russia, Vows to do ‘Whatever Necessary’ to Support Oil Markets
- July 6,2023
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- SUSTG Team
Saudi Arabia’s energy minister Prince Abdulaziz bin Salman defended Riyadh and Moscow’s recent oil cut decisions on Wednesday, which caused only a small, short-term increase in the price of Brent crude as the market shrugged at the move.
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MUST-READS
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Smart grids could improve Saudi Arabia’s renewables potential
Saudi Arabia’s traditional power grid faces challenges such as transmission losses, low efficiency, and limited ability to accommodate renewable energy sources, creating the need for a modernized smart grid.
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Top art exhibitions in the UAE and Saudi Arabia to see this spring
As the calendar ticked over to 2024, art institutions in the Gulf began setting the stage for some of their best exhibitions of the year.
The UAE will host Art Dubai and March Art Week, while Saudi Arabia has a growing fixture of events anchored by the Diriyah Biennale Foundation as well as exhibitions and biennials staged in AlUla.
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Top art exhibitions in the UAE and Saudi Arabia to see this spring
A mix of blockbuster shows and calmer retrospectives to catch in the coming months.
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Saudi’s Seven and Formula E to open karting attractions
Saudi Entertainment Ventures (Seven) has announced its latest partnership, this time with Formula E to launch indoor karting attractions in the kingdom. The Formula E venues will be located in four of Seven’s entertainment destinations across Saudi Arabia, in Riyadh, Jeddah, Dammam and Abha. Each family-friendly attraction will offer adult karts, junior karts, and dual karts, as well as 400-metre-long tracks
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IBM inaugurates regional Saudi headquarters in Riyadh
Krishna said that the investment in Saudi Arabia reinforces the firm’s longstanding commitment to the Kingdom. IBM first established its presence in Saudi Arabia in 1947, and has since worked on hundreds of projects in the government and private sectors. In recent years, IBM has worked with government, businesses and partners to help enhance the Kingdom’s tech landscape, including the local digital infrastructure, tech ecosystem and Saudi talent.
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stc, Saudi Railway Company Partner to Elevate National Cybersecurity
stc group has announced a strategic partnership between its subsidiary, sirar by stc, and the Saudi Railway Company (SAR), the owner and operator of railway networks in Saudi Arabia. This collaboration is set to revolutionize the realm of Information Technology and technological innovation within the Kingdom's critical infrastructure. This will facilitate an alliance for a strategic move to deepen the national expertise in cybersecurity and technology within critical infrastructure sectors.
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Schiattarella Associati’s digital art center in Saudi Arabia draws from Najdi architecture
Schiattarella Associati has unveiled Diriyah Art Futures, a distinctive digital art ‘incubator’ in Saudi Arabia designed for exhibitions, education, and art production. Covering an area of 12,800 square meters, it is situated northwest of Riyadh, close to a significant historical and archaeological site in the Arabian Peninsula. The design approach of Schiattarella Associati emphasizes a connection with the surroundings, considering not only the physical characteristics of the context but also engaging with the cultural values and the memory of the location.
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Setting the Stage: The Vital Role of Private Art Institutions in Saudi Arabia
Yet amid the present moment of grandiose state patronage that has led to a renaissance of sorts across the kingdom, at times the role of private art institutions has been overlooked. Prior to the present massive government investment in culture, these institutions – independent players such as Edge of Arabia, Athr, Hafez Gallery, and Art Jameel – played a vital role in the development of the Saudi art scene during a time when the state was largely not present in Saudi cultural enterprise.
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IBM inaugurates regional Saudi headquarters in Riyadh
Global technology and cloud giant IBM has inaugurated its regional headquarters in Riyadh, as part of its mission to accelerate digital transformation in Saudi Arabia’s business landscape and society. Having received a formal nod to establish its regional headquarters last year, IBM and the Ministry of Investment have now formally celebrated the milestone at a joint signing ceremony.
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More than 13 Saudi startups preparing to go public: SVC CEO
More than 13 Saudi startups are preparing to go public in the coming two years, Asharq News reported, citing Nabeel Koshak, CEO of Saudi Venture Capital Co. (SVC). Divestitures—including acquisitions, mergers or equity markets—from startups in the Kingdom, increased from two per year to 17 over the last two years. This includes the IPO of Jahez International Company for Information System Technology (Jahez) on the Saudi Exchange (Tadawul).
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