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Forthcoming Sindalah Island Resort Will ‘Mark the First Opportunity for the Public to Experience NEOM’ – Report
- May 9,2023
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- SUSTG Team
Saudi Arabia’s forthcoming Sindalah Island project will be the first opportunity for tourists to visit NEOM, according to Antoni Vives, chief urban planning Officer at NEOM, in comments to Al Arabiya English.
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Saudi Arabia’s Red Sea Global Weighs Public Offering as Soon as 2026 – Report
- May 8,2023
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- SUSTG Team
Red Sea Global, the company behind a major tourism destination on Saudi Arabia’s Red Sea coast is considering a possible public market offering as soon as 2026, the CEO said in comments reported by Bloomberg.
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Captagon in the Middle East, Messi’s history with Saudi Arabia, and a conversation with Norah Ortiz, owner of Riyadh’s first authentic Mexican restaurant
- May 5,2023
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- SUSTG Team
The 966 Episode 85! The 966 hosts speak with Norah Ortiz, founder of the first authentic Mexican restaurant in Riyadh, Don Reuben’s, which is located in the Diplomatic Quarter. Ortiz tells us her story as an American born in San Diego to Mexican parents and her journey to owning and operating the first authentic Mexican […]
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MENA startups Raised $7 Million in April 2023, a 93 Percent Decline Year-on-Year – WAMDA Report
- May 4,2023
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- SUSTG Team
In April 2023, startups based in the Middle East and North Africa raised roughly $7 million, a drop of 97 per cent compared to March 2023 and a 99 per cent drop compared to April 2022, according to a report in Wamda.
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Asset Management Firm Tiger Global, Visa Invest in UAE Fintech Company Tarabut Gateway for Saudi Expansion – Report
- May 3,2023
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- SUSTG Team
Payments giant Visa Inc. has made its first open banking investment in the Middle East, joining Tiger Global Management in backing UAE-based fintech firm Tarabut Gateway’s latest fundraising which outlines an expansion to Saudi Arabia, according to Bloomberg.
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Saudi Rescue Role in Sudan Continues to Draw US Praise as CENTCOM Commander Thanks Saudi Chief of Defense for Supporting the Evacuation of American Citizens
- May 2,2023
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- SUSTG Team
The commander of U.S. Central Command, Gen. Michael “Erik” Kurilla, called the Royal Saudi Chief of General Staff Gen. Fayyadh Al Ruwaili to thank him and the Kingdom of Saudi Arabia for its support in evacuating American citizens from Sudan amidst the conflict there, as Saudi Arabia continues to aid foreign nations in evacuating civilians […]
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Iran and Saudi Arabia Only Days Away from Re-Opening Embassies – Report
- May 1,2023
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- SUSTG Team
Saudi Arabia and Iran will reopen embassies in each other’s capitals “within days,” Reuters reports, citing Iranian Foreign Minister Hossein Amirabdollahian, though he did not give specific dates for each to re-open.
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Knight Frank’s Faisal Durrani joins The 966 to talk Saudi real estate, giga-projects and much more
- April 28,2023
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- SUSTG Team
In Episode 84, The 966 speaks with Faisal Durrani, partner and head of Middle East research for the global real estate company Knight Frank. Mr. Durrani shares some of the highlights and key information from Knight Frank’s recently-released 2023 report on real estate in Saudi Arabia, The Saudi Report 2023, a publication which touches on many […]
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Growing SRMG Media Group Launches LIST, a New Saudi Travel Magazine
- April 26,2023
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- SUSTG Team
SRMG, the largest integrated media group in the MENA region which includes widely-read publications like Arab News, Asharq Alawsat and others, has added a travel magazine to its portfolio: LIST Magazine will focus on the travel and tourism offerings from Saudi Arabia, the region and the world, according to reports.
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U.S. State of Arizona Blocks Saudi Company Fondomonte from Drilling 2 More Wells on State Land
- April 25,2023
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- SUSTG Team
A Saudi-owned company that farms alfalfa in the U.S. State of Arizona has been blocked from drilling two new wells in the drought-stricken state, according to local reports.
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MUST-READS
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Bechtel Partners with the Saudi Women Engineers Society
The new partnership will support Saudi’s Vision 2030 goal to empower women in the region by increasing career opportunities, including development and training, for women in the workforce. “Bringing more diverse talent into the engineering and STEM fields in Saudi Arabia is crucial to delivering on Vision 2030's goals,” said Abdul-Rahman Al-Ghabban, president of Saudi Arabian Bechtel Company (SABCO) and regional manager for the Middle East Region at Bechtel. “Bechtel is partnering with SWES with the goal of inspiring more women in Saudi Arabia – and around the world – to pursue engineering careers and to become future leaders in our industry.”
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Saudi Aramco Starts Tight Gas Production At South Ghawar Field
Saudi Aramco has produced the first unconventional tight gas from its South Ghawar field, the world’s largest oil firm said this week as it seeks to boost its natural gas output by more than half by 2030. The facilities at South Ghawar have a raw gas processing capacity of 300 million standard cubic feet per day (scfd) and a condensate processing capacity of 38,000 barrels per day (bpd), the Saudi state oil giant said. To meet rising natural gas demand, Aramco plans to more than double the overall processing capacity and achieve South Ghawar’s goal of delivering 750 million scfd of raw gas in the near future.
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Google Cloud and Haboob partner to strengthen Saudi Arabia’s nationwide cyberdefence
Haboob, a leading cybersecurity service provider owned by the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP), has announced its partnership with Google Cloud to deliver Chronicle CyberShield to the Kingdom of Saudi Arabia. This marks the first time Chronicle CyberShield will be offered in a managed services model in the Kingdom, aiming to bolster cybersecurity services for public sector organisations. Chronicle CyberShield is a comprehensive solution that provides technology, processes, capabilities and resources to deliver situational awareness of the cyberthreat landscape. It is uniquely designed for government entities to share threat information; help accelerate investigations; and initiate a united response against persistent and ever-evolving threats proactively and rapidly.
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Gibson Dunn Launches in Saudi Arabia with Seven-Partner Team
The firm’s Riyadh team includes seven partners—each of whom has extensive experience working with clients in Saudi Arabia: Megren Al-Shaalan, Mohammed Bashir, Mahmoud Abdel-Baky, Jonathan Langley, Mohamed AlHasan, Lars Petersen and Ibrahim Soumrany. Gibson Dunn has significantly expanded in the Gulf in the last 12 months, adding 14 new partners and 19 new associates, the largest investment made in the region by any international firm during this time.
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Arbitration in the Kingdom of Saudi Arabia Part 4 – Drafting and Concluding Effective Arbitration Agreements in Saudi Arabia
An effective, well-drafted arbitration clause (or arbitration agreement) provides parties with a contractual mechanism through which they can enforce their legal rights. Therefore, it is an essential part of any contract pursuant to which the parties have agreed to resolve their disputes by arbitration. Arbitration clauses need to be properly drafted to be valid, effective and enforceable. Poorly drafted arbitration clauses may be challenged at the stages of initiating arbitration or enforcing arbitral awards, and defective or "pathological" arbitration clauses may even deprive the parties of access to arbitration.
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Saudi Arabia’s Inochem starts trial runs at soda ash, calcium chloride plants
Khair Inorganic Chemical Industries Co (Inochem) has started trial operations at its soda ash and calcium chloride plants in Saudi Arabia, its part-owner Sahara International Petrochemical Co (Sipchem) said. The 300,000 tonne/year soda ash plant and the 350,000 tonne/year calcium chloride plant are located at the Ras Al-Khair Industrial City. Total project cost was Saudi riyal (SR) 2.9bn ($773m), Sipchem said in a filing on the Saudi bourse on 12 November.
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Saudi FM stresses need for immediate ceasefire in Gaza after meeting Jordanian and British counterparts
Prince Faisal stressed Saudi Arabia's position, which rejects targeting of civilians in any manner and underlines the importance of reaching an immediate cessation of military escalation. The Saudi foreign minister also stressed the necessity of lifting the siege on Gaza, as well as securing safe corridors for the entry of relief and humanitarian aid to civilians.
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Saudi Arabia: Riyadh to host 2024 Smart Cities Forum
The Saudi Data and AI Authority (SDAIA) unveiled a three-year partnership with FIRA Barcelona at the Smart City Expo World Congress (SCEWC) in Barcelona. This alliance lays the groundwork for the Riyadh-hosted Smart Cities Forum scheduled for early 2024. The Riyadh Smart Cities Forum aims to gather national, regional, and global thought leaders to drive discussions on people-centric, smart, and sustainable cities in Saudi Arabia. This platform will showcase the Kingdom’s latest innovations and foster global dialogues with key stakeholders.
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Saudi Arabia exceeding regional headquarters target, says investment minister
Saudi Arabia has outperformed its target for attracting regional headquarters, with over 180 companies now established in the Kingdom. This number surpasses the initial goal of securing 160 HQs by the end 2023, as disclosed by Minister of Investment Khalid Al-Falih. In an interview with Bloomberg, Al-Falih emphasized that the regional headquarters program is part of a “long-term journey,” adding that the Kingdom is working with international entities to create the “right ecosystem” to open their offices in Saudi Arabia.
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Saudi Arabia Participates in UNESCO’s 42nd General Conference in Paris
Minister of Culture and Chairman of the National Commission for Education, Culture and Science Prince Badr bin Abdullah bin Farhan leads Saudi Arabia's delegation to the 42nd session of the General Conference of UNESCO, held in Paris between November 7 and 22. The delegation includes representatives of the ministries of culture and education, the Saudi Data and Artificial Intelligence Authority, and other national authorities.
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