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Visa Launches Apple Pay in Saudi Arabia as Executives Continue Probe of Absher App
- February 19,2019
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- SUSTG Team
Visa on Tuesday launched Apple Pay in Saudi Arabia, allowing its Kingdom-based cardholders to make payments using their Apple devices, according to reports. Early reports via Apple Insider show “compatibility with previously confirmed financial partners including the country’s largest institution, the National Commercial Bank….Separately, individual banks like Al Rajhi confirmed access to the service in release notes accompanying […]
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Looking East, Crown Prince Mohammed bin Salman Arrives in Pakistan
- February 18,2019
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in Pakistan on Sunday for the start of a tour of several Asian nations as the Kingdom looks eastward to strengthen trade relationships and business opportunities. As is usually the case for the highest Saudi royal leaders on state visits, the Crown Prince traveled with a sizable entourage […]
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Once Taboo, Valentines Day is Celebrated in Saudi Arabia
- February 14,2019
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- SUSTG Team
Before 2018 in Saudi Arabia, Valentines Day was “an old tradition kept in the dark” and not openly celebrated by Saudis, instead being secretly observed by citizens in the privacy of their homes. Then, last year, Sheikh Ahmed Qasim Al-Ghamdi, former president of the Saudi “religious police” or Ha’ia, endorsed Valentine’s Day celebrations for the first time in […]
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Crown Prince Mohammed bin Salman to Visit Pakistan on Saturday, Announce $20b in Deals
- February 13,2019
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- SUSTG Team
Saudi Arabia’s crown prince Mohammed bin Salman is set to make his first state visit to Pakistan on Saturday, where he will announce investment projects worth up to $20 billion, a senior official told VOA news. The investment is needed for Pakistan, which is cash-strapped and facing multiple regional political challenges with a recently-elected Prime Minister. […]
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Al-Falih: ‘Going forward the world is going to be Saudi Aramco’s playground’
- February 12,2019
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- SUSTG Team
In a new interview with the Financial Times, Saudi Arabia’s powerful minister of energy, industry, and mineral resources Khalid Al-Falih indicated that Saudi Aramco would take on an active position as investor in resource opportunities outside the Kingdom of Saudi Arabia. Saudi Arabia’s state-owned energy company, Saudi Aramco, will seek to develop an international energy […]
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Saudi Arabia to establish an independent export and import finance bank
- February 8,2019
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- SUSTG Team
Saudi Arabia will establish an independent export and import finance bank with a capitalization of SAR 30 billion riyals ($8 billion) to provide financing to local exporters and foreign importers, the UAE-based The National reports. The Kingdom first proposed the EXIM bank to support sales of its goods abroad in 2017. The Saudi Exports Development Authority (SEDA) […]
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Hilton to Open 35 Hotels, Add 10,000 Rooms in Saudi Arabia as Tourism Sector Soars
- February 4,2019
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- SUSTG Team
Hilton Hotels & Resorts announced it is looking to build 35 new hotels in Saudi Arabia, adding as many as 10,000 rooms over the next 3-5 years, according to reports on comments made by a top executive for the company. The decision to invest in Saudi Arabia – the company’s largest pipeline in the Middle […]
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Private-Sector Program ‘Direction’ in Saudi Arabia Boosts Cross-Cultural Understanding, Dialogue
- February 1,2019
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- SUSTG Team
A private-sector program in Saudi Arabia is seeking to enhance relations between the Kingdom and nations around the world through delegations of Saudi youths in order to spread “a culture of moderation and respect for others” in line with the Kingdom’s Vision 2030. The program, called “Direction,” designs, executes and manages supportive programs for Saudi and Arab […]
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PIF-backed Saudi mortgage refinancing firm to expand offering in 2019 – Report
- February 1,2019
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- SUSTG Team
The Public Investment Fund-backed Saudi Real Estate Refinance Company (SRC) expects to issue its first public sukuk this year and a second private placement in the next two weeks, while developing further plans to finance an expansion of the kingdom’s home mortgage market, according to reports. Saudi Real Estate Refinance Co., a unit of the kingdom’s […]
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Kingdom Ends Corruption Crackdown with $106 Billion Recovered
- January 31,2019
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- SUSTG Team
Saudi investigators have recovered assets worth more than $106 billion in an anti-corruption crackdown ordered by Crown Prince Mohammed bin Salman, the royal court said on Wednesday. The crackdown began in November 2017 when Saudi Crown Prince Mohammed bin Salman ordered suspects detained at the Ritz Carlton in Riyadh. The government summoned 381 people, although some appeared only […]
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MUST-READS
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CommerceBusinesses In Saudi Arabia Struggle With Changing Regulations
The country is imposing new rules in an attempt to diversify the economy. In a Riyadh mall, shop owners scramble to adjust to new ways — like hiring more Saudi workers in place of foreigners.
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Abu DhabiHeading Downstream: Abu Dhabi’s Big Plans for Business Beyond Oil
The stark contrast between the old and new buildings provides a hint of the changes afoot in energy-rich Abu Dhabi. The tiny, but stratospherically wealthy, emirate is trying to forge an economy for a post-oil world and needs to wring more profits from its petroleum industry to finance the makeover.
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Cannes Film FestivalFilm Business Looks to Saudi Arabia
Saudi Arabia continues to fine-tune its censorship guidelines and the country is being flooded with requests from media companies and exhibitors looking to establish a toe-hold in a place that’s been closed off to Hollywood investment for decades.
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TourismAnalysis: Saudi Arabia is now open for business
The newly introduced electronic tourist visa is in line with the latest economic developments taking place in Saudi Arabia.
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Saudi MarketPerspective: Ready, Saudi, Go: Changes In The Kingdom Bring A New Audience To Business And Marketers
As the country evolves, so too should the marketing strategies used to target its consumers, particularly women.
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Saudi EconomySlumping economy overhangs Saudi reforms as officials, businessmen meet
At a conference with hundreds of foreign and local bankers and potential investors, ministers said privatizations and partnerships between the government and private companies to build infrastructure projects would begin within months.
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Lubna OlayanBusinesswoman Lubna Olayan On How She Shattered The Stereotype Of Saudi Women
One of the most influential business women in the world is from what might seem like an unlikely place — Saudi Arabia. She sat down for a rare interview to discuss what she's done to get more Saudi women into the work force.
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SaudizationLocal worker policy puts Saudi businesses on edge
So-called Saudization is taking hold in the kingdom as new reforms try and tackle high unemployment but as Reuters Emily Wither finds out in Riyadh it's hard for local businesses to find the staff.
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Saudi AramcoAramco Accounts Show Expanding Refining Business Lagged Big Oil
During the price crash of 2014 to 2017, Big Oil weathered the storm thanks to what the industry calls downstream. Margins from refining, petrochemicals and fuel stations shone as crude got cheaper, bringing in profits that helped sustain companies including Exxon Mobil Corp., Royal Dutch Shell Plc and Chevron Corp.
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Business RegistrationSaudi Arabia speeds up business registration to one day
The new service will allow full registration of a company’s details without the need for attestation by a notary, using electronic authentication instead. The service allows business owners to pay government fees online and gain commercial certification directly.
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