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Saudi Arabia’s King Issues Royal Decree Appointing Ayman Alsayari as New Central Bank Governor, Replacing Fahad Al-Mubarak
- February 2,2023
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- SUSTG Team
Saudi Arabia’s King Salman issued a royal decree appointing a new governor of the Kingdom’s central bank and moving its former boss to a role as advisor to the Royal Court, according to reports.
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Saudi Arabia’s PIF, U.S.-Based AeroFarms Agree to Establish Riyadh-Based Vertical Farms Company
- February 1,2023
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) has signed a joint venture agreement with New Jersey-based AeroFarms to establish a company in Riyadh to build and operate indoor vertical farms in the Kingdom with an eye toward expansion in the wider MENA region, according to a report in Arab News and a press release from the PIF.
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Saudi Arabia’s Non-Oil Economy Grew 6.2% During the Fourth Quarter of 2022 – Latest Data
- January 31,2023
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- SUSTG Team
In the 4th quarter of 2022, Saudi Arabia’s non-oil sector grew at the fastest pace in more than a year and “helped the kingdom record the fastest overall growth among major global economies,” Bloomberg reports. The non-oil economy grew an annual 6.2% during the fourth quarter of last year, the highest level since the third […]
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Saudi Arabia’s PIF Remains 6th Largest SWF Globally, Latest Data Show
- January 30,2023
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) now has assets worth $607.42 billion and is the 6th largest sovereign wealth fund in the world, according to latest data from the Sovereign Wealth Fund Institute.
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The 966 exclusive interview with Bechtel Saudi Arabia Managing Director Jacob Mumm on the company’s active role at Neom, the Riyadh metro, and its storied history in the Kingdom
- January 27,2023
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- SUSTG Team
In Episode 73 this week, The 966 features an exclusive conversation with Jacob Mumm, Managing Director for Bechtel Saudi Arabia. Bechtel’s role in over 300 major projects throughout 80 years in Saudi Arabia, including the world’s largest single industrial development project at Jubail, the ambitious Riyadh Metro project, “The Spine” at Neom, Ras Al Khair, […]
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Saudia Travelers to Get 4-Day Visa With Ticket Purchase in New Tourism Push
- January 26,2023
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- SUSTG Team
Saudi Arabia is set to relax its visa entry requirements further with a new program to boost tourism that grants a four-day visa to those who fly into the Kingdom on its national carrier, Saudia, according to reports.
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International Visitors to Saudi Arabia Increase as Kingdom Attracts Most Tourists in First 9 Months of 2022
- January 25,2023
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- SUSTG Team
Saudi Arabia registered more than 18 million international arrivals in the first nine months of 2022, higher than any other Arab nation during that timeframe, according to reports.
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Report: Saudi Arabia Explored Bid to Buy F1 for Over $20 Billion
- January 23,2023
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- SUSTG Team
Saudi Arabia explored a bid to acquire Formula 1 racing in early 2022, according to a Bloomberg report.
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Real estate in Saudi Arabia, Riyadh’s $22.5 BILLION metro, and the Ronaldo-Messi-Mbappe game
- January 20,2023
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- SUSTG Team
In episode 72 of The 966, the Riyadh Metro project, the game-changing public transportation project in Saudi Arabia’s capital, “will be opened soon.” A discussion on the hot real estate market in Riyadh and across Saudi Arabia. Then, to kick off the program’s “Yallah!” segment, the hosts spend some time talking about the Dakar Rally, […]
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Saudi Arabia Set to Open Riyadh Metro ‘Soon’ — Report
- January 19,2023
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- SUSTG Team
The Riyadh Metro project, the game-changing public transportation project in Saudi Arabia’s capital, “will be opened soon,” Rai Al Youm reported on Wednesday, citing the German News Agency (DPA).
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MUST-READS
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Saudi Arabia condemns New Orleans attack
Saudi Arabia condemned and denounced on Wednesday a deadly car ramming in New Orleans, Louisiana, that struck a crowd celebrating New Year’s Eve. A 42-year-old Texas man crashed a pickup truck into a crowd in the city’s French Quarter before opening fire with a gun, killing at least 10 people and injuring 35, in an early morning attack the FBI said was a potential act of terrorism. The suspect was fatally shot in an exchange of gunfire with police. Potential homemade bombs were found in the truck and around the French Quarter, the FBI said.
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2024 Year in Review: The events that testified to Saudi Arabia’s transformation
In 1924, Riyadh was a small oasis town, covering less than one square kilometer and home to no more than 30,000 people. One hundred years ago, the motor car had yet to displace the camel as the primary form of transport and the future capital of the Kingdom of Saudi Arabia was still contained within the defensive walls that had encircled it for 200 years. Today, Riyadh is a vast metropolis, the largest city on the Arabian Peninsula. Ever expanding, the capital is currently spread over 1,500 square kilometers and has a population close to eight million, largely reliant on the car.
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How UAE is Beating Saudi Arabia, Qatar, Oman, Bahrain, Jordan, Iran, Iraq, Kuwait, Israel, Lebanon, and Syria in Surging Tourism Growth Across the Middle East
But what truly sets the UAE apart isn’t just its attractions—it’s how the country consistently reinvents itself. While Saudi Arabia is still developing its Vision 2030, Qatar focuses on luxury, and Oman specializes in eco-tourism, the UAE delivers a fully realized tourism ecosystem. Progressive visa policies, safety, state-of-the-art airports, and year-round events make the UAE not just a destination but an experience tailored to global tastes.
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Saudi Arabia seeks to buy 100 Turkish fighter jets
Saudi Arabia is seeking to buy 100 Kaan fighter jets from Turkiye as part of its Vision 2030 plan, Turkish newspaper Milliyet has reported. The fifth-generation Kaan fighter jet was developed by Turkish Aerospace Industries (TUSAS), and can perform air-to-air combat missions, as well as conduct precision air to ground strikes at supersonic speeds. The head of the Turkish Defence Industries Directorate, Haluk Gorgun, met with Saudi Assistant Defence Minister Khalid Bin Hussein Al-Bayari last week, along with the Commander of the Royal Saudi Air Force, Turki Bin Bandar Al-Saud. The meeting was in Istanbul.
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Who are Saudi Arabia’s most promising athletes for 2025?
After a memorable 2024 for many of Saudi Arabia’s athletes, attention is now turning to the new year and the talented young sportsmen and women who could enjoy a breakout 2025. From football to swimming, MMA to motorsport – Al Arabiya English highlights the Kingdom’s most promising athletes for 2025.
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Aramco raises diesel prices in Saudi Arabia to $0.44 per liter
Saudi Aramco has increased diesel prices in Saudi Arabia to SR1.66 ($0.44) per liter, effective Jan. 1, 2025, marking a 44.3 percent rise compared to the start of 2024. According to the latest update on Aramco’s website, the company has kept gasoline prices unchanged, with Gasoline 91 priced at SR2.18 per liter and Gasoline 93 at SR2.33 per liter. The annual review of diesel prices is part of Aramco’s pricing mechanism, implemented in 2022. This year marks the fourth review under the system. In January 2024, the Kingdom raised diesel prices to SR1.15 from SR0.75 per liter, continuing its gradual adjustments.
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Saudi Arabia launches humanitarian air bridge to Syria
Saudi Arabia on Wednesday launched an air bridge to Syria to supply the country with goods of daily need, the Saudi Press Agency (SPA) reported. It added that the first flight from King Khalid International Airport took off to Damascus carrying food, shelter and medical items. The total aid provided by Saudi Arabia to the Syrian people from 2011 to the end of 2024 amounted to $857 million, according to SPA.
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[45] Key economic milestones for Saudi Arabia in 2024
The Saudi economy witnessed several key milestones in 2024, including winning the bid to host the 2034 World Cup, coupled with the inauguration of Riyadh Metro by Custodian of the Two Holy Mosques King Salman bin Abdulaziz. During 2024, the US Federal Reserve cut interest rates three times by 100 basis points (bps) in total at the September, November and December meetings, with interest rates currently ranging between 4.25% and 4.50%. Further, Crown Prince Mohammed bin Salman announced the completion of the transfer of 8% of Saudi Aramco's issued shares from state ownership to portfolios held by wholly-owned subsidiaries of the Public Investment Fund (PIF).
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Women’s football rankings – Africa’s stars step up in Europe and Saudi Arabia
Africa's women's football stars continue to impress around the world in December, despite the crowd-pleasing NWSL season coming to an end in November. Nigeria has always had tremendous depth in the goalscoring department and this was demonstrated in December as Ifeoma Onumonu, Jennifer Echegini, Gift Monday and Rinsola Babajide all scored for their respective clubs. Given that our rankings are form-based, many of the best African players miss out this month on account of having had little to no playing time, but when the 2025 NWSL season kicks off, the likes of Barbra Banda, Temwa Chawinga and Racheal Kundananji are likely to return.
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Abu Dhabi’s Mubadala overtakes Saudi Arabia’s PIF as world’s top wealth fund spender
Abu Dhabi's Mubadala Investment Company accounted for about 20% of the almost $136.1 billion spent by sovereign wealth funds worldwide last year, overtaking Saudi Arabia's wealth fund amid a surge in spending from Gulf countries. Mubadala and its subsidiaries deployed $29.2 billion in 2024, up from $17.5 billion invested in 2023, based on a preliminary annual report from industry specialist Global SWF, which tracks the world's sovereign investment funds. Saudi Arabia's Public Investment Fund lost its ranking as the world's most active sovereign wealth fund after it cut its investment spend by 37% to $19.9 billion in 2024 from $31.6 billion the previous year, according to the report.
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