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Saudi Arabia’s SEVEN Breaks Ground on BUJV, a $347 Million Entertainment Project in Madinah
- August 1,2023
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- SUSTG Team
Saudi Entertainment Ventures (SEVEN), a wholly-owned subsidiary of the Public Investment Fund (PIF), has announced its construction work on BUJV, its new entertainment destination in Madina, according to a report in Construction Week Online and a press release from SEVEN.
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Temperatures Soar Across Saudi Arabia; Certain Places Hit 50 Degrees Celsius
- July 31,2023
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- SUSTG Team
Temperatures are expected to soar up to 50 degrees celsius (122 degrees farenheit) in several areas Saudi Arabia, starting from Sunday until the end of the week, according to the National Center for Meteorology (NCM).
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PepsiCo Middle East CEO Aamer Sheikh joins The 966, plus a full update on Saudi football, King Saud University’s overhaul and more…
- July 28,2023
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- SUSTG Team
Episode 96! The 966 speaks with PepsiCo Middle East CEO Aamer Sheikh for a conversation about the company’s strategy to plug into Vision 2030’s opportunities and continue to stay on top as the number one food and beverage brand in the Kingdom of Saudi Arabia. Mr. Sheikh, who is Pakistani-American and grew up in the […]
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Royal Order Converts Riyadh’s King Saud University to Independent, Non-Profit Academic Institution under Umbrella of RCRC
- July 27,2023
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- SUSTG Team
Crown Prince Mohammed bin Salman issued a Royal Order transforming King Saud University into an independent, non-profit academic institution that be under the “umbrella” of the Royal Commission for Riyadh City, according to multiple reports.
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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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The MENA region gets hotter as a global heat wave hits 3 continents, the Islamic New Year, Saudi Arabia outranks the US in expat survey and much more…
- July 21,2023
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- SUSTG Team
Episode 95! The hosts discuss some of the biggest storylines and topics on Saudi Arabia this week. First, Richard’s One Big Thing this week, the Islamic new year. Muslims around the world observe and celebrate the Islamic New Year, also called the Hijri New Year, which marks the beginning of a new lunar Hijri year. […]
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PIF Announces Establishment of Sawani Company to Enable Growth of Camel Farming Industry
- July 20,2023
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- SUSTG Team
The Public Investment Fund (PIF) of Saudi Arabia announced the establishment of Sawani Company “to enable the growth of the Saudi camel farming industry and actively contribute to its sustainable development,” the fund said in a press release.
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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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MUST-READS
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Riyadh Air, Saudi Arabia’s ambitious new airline, just suffered a big setback
In 2023, Riyadh Air announced it had ordered 39 Boeing 787-9 Dreamliners, with options for 33 more. The airline had expected to take delivery of eight such aircraft this year, but now expected to get just four, Bloomberg reported. As a result, Riyadh Air has pushed its planned launch back from early 2025 to the third quarter. "We have obviously pivoted like everybody else has on a number of occasions to be able to adjust to the latest forecast," CEO Tony Douglas told the outlet. "I am confident, given the latest forecast, that we'll get deliveries this year," he added. "Is it completely without risk? Obviously no, it's not." Boeing said in a statement: "We continue to work closely with Riyadh Air on their delivery schedule and look forward to supporting Riyadh's inaugural operations."
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Why Saudi Arabia is so keen on the Turkish KAAN
The KAAN is a Turkish fifth-generation, multi-role, stealth fighter aircraft developed by the Turkish Aerospace Industries (TAI) and BAE Systems, which is based in London. The project to develop the aircraft began in 2010, with the aim of replacing Turkey’s aging F-16 fleet and boosting Turkey’s autonomy, self-dependency, and overall military and national power. The urgency to develop this aircraft increased after Turkey was removed from the F-35 program in 2019. The KAAN made its maiden flight in February 2024. Riyadh has expressed interest in acquiring F-35 fighter jets since 2017; however, the United States has not committed to the sale, and the situation has been prolonged. Riyadh is likely also feeling unsure about its ability to secure an F-35 deal considering the experiences of its neighbors.
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A Saudi Arabian Driver Won the Dakar Rally For the First Time on Home Soil
For the first time since 1994, the overall Dakar winner won on home soil as Yazeed Al Rajhi became the first Saudi Arabian to win the desert rally. The only other competitor to win at home was Pierre Lartigue in his first of three consecutive victories and the only one to finish back in Paris. Al Rajhi won as a privateer Toyota entry in a Dakar that Toyotas dominated after Carlos Sainz Sr.'s Audi, which captured victory for Audi for the first time in last year's Dakar, was forced to exit the rally during stage three following a crash in stage two.
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Saudi Arabia unveils digital services for Hajj pilgrims
The Ministry of Hajj and Umrah and the Saudi Data and Artificial Intelligence Authority (SDAIA) have signed a memorandum of cooperation to harness smart products for pilgrims and build a knowledge base to exchange best practices in modern technologies. Under this agreement, both parties are committed to spreading awareness in the field of data and artificial intelligence through camps, workshops, seminars, and conferences. Training programs will be held for employees of the Ministry of Hajj and Umrah in data and artificial intelligence.
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Saudi Arabia issues nearly 522K commercial records in 2024
Saudi Arabia experienced a 60 percent increase in commercial records in 2024, with a total of 521,969 issued, compared to the previous year, according to the Ministry of Commerce. The number of commercial records granted in 2023 was 368,038, the ministry said in a statement outlining its achievements for 2024. Last year, there were 368,038 registrations from establishments and 153,931 from companies, bringing the total number of active commercial records in the Kingdom to 1,606,169.
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New traffic law: Driving with expired registration in Saudi Arabia now a major offence
Saudi Arabia has amended its traffic law to include a new violation for driving with an expired vehicle registration, as reported by the government gazette Umm Al Qura. The amendments, approved by the Saudi Cabinet, aim to enhance road safety and modernise the regulatory framework. A royal decree (No. M/140) outlined the changes, including the repeal of Article 71 of the Traffic Law and the modification of the second schedule of violations to include "driving a vehicle with an expired licence" as an offence. The decree also requires the Ministry of Interior to update the executive regulations of the Traffic Law to reflect these amendments.
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New Honeywell centre cements Saudi Arabia’s position in global cybersecurity market
Honeywell recently launched a new centre in Saudi Arabia’s Jubail to provide localised cybersecurity services for critical industrial sectors in the Kingdom, according to a press release. Honeywell Himaya Center, which was announced at the In-Kingdom Total Value Add (iktva) Forum and Exhibition 2025 in Dhahran, will support Saudi Arabia’s digital transformation and strengthen its position as a key player in the global cybersecurity market.
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Saudi Arabia boosts mining industry
Throughout this year, Saudi Arabia intends to promote mineral exploration opportunities in an area of up to 50,000 square kilometres, Minister of Industry and Mineral Resources Bandar Al-Khorayef announced at the International Mining Conference recently held in Riyadh. The minister noted that the Kingdom's programme to enable mineral exploration has already helped exploration companies excavate more than 440,000 square metres. He also used the occasion to announce the launch of the Mining Innovation Studio initiative, a project designed to attract global talent and accelerate the use of advanced technologies, as well as to advance Riyadh's vision of becoming the ‘Silicon Valley of Metals’.
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Saudi Arabia Advances Lithium Plans, Looks Beyond Oil For Commodity Diversification
Saudi Arabia has unveiled a joint venture between the state oil company Aramco and the state mining company Ma'aden. The collaboration focuses on extracting lithium, a vital component in batteries for electric vehicles (EVs), renewable energy storage, and electronics. Commercial production is expected by 2027. "We expect that this partnership will leverage the world's leading upstream enterprise to apply significant low-cost advantages, industry experience, technological innovation, and an integrated supply chain ecosystem," said Nasir K. Al-Naimi, Aramco's upstream president.
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China and Saudi Arabia: A Deepening Strategic Partnership
Increasing political, strategic, and economic engagements with the Middle East and North Africa (MENA) region has been a notable feature of Chinese foreign policy, especially since the launch of its flagship Belt and Road Initiative (BRI) in 2013. One of the key countries with which China has strengthened its engagement is Saudi Arabia. The kingdom is an important regional power, with influence in the Arab-Islamic world as well as in the global energy market. In December 2022, during a visit by Chinese President Xi Jinping to Riyadh, the two countries signed a comprehensive strategic partnership agreement that underlined the growing Chinese inroads into a region that has traditionally been regarded as an American sphere of influence.[1] The China-Saudi Arabia strategic partnership has the potential to impact the geopolitical makeup of the entire region, which is part of India’s extended neighbourhood.
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