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PIF Eyes Deal to Merge Mobile Towers of Zain, STC to Form Telecom Giant – Report
- November 3,2021
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- SUSTG Team
Saudi Arabia’s Public Investment Fund is weighing a deal to combine the mobile phone infrastructure of Saudi Telecom Co. and Zain Saudi Arabia “in a merger that would form the kingdom’s largest cellular towers company,” people familiar with the plans told Bloomberg.
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Archaeologists in Saudi Arabia Excavate for Remnants of Ancient Kingdoms – Report
- November 2,2021
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- SUSTG Team
A team of French and Saudi archaeologists has begun work on excavating near Al-Ula in Saudi Arabia in hopes of discovering the remnants of the ancient and long-forgotten kingdoms of Dadan and Lihyan, according to a Reuters report.
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Saudi Arabia Seeks to Host World’s Fair in 2030
- November 1,2021
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- SUSTG Team
Saudi Arabia intends to submit a bid to host the Expo 2030 world fair, Saudi Crown Prince Mohammed bin Salman said on Friday, as the Kingdom continues to open itself up to the world and diversify its economy.
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Saudi Economy Surges as Non-Oil PMI Rises to Highest Since 2015 – Jadwa Investment
- November 1,2021
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- SUSTG Team
Saudi Arabia’s economy continued to gather significant momentum as nearly every recent measurement or data point available pointed to an expanding economy. In Jadwa Investment’s recent Chartbook for Saudi Arabia for the month of November, which uses data largely from September, non-oil PMI rebounded significantly rising to 58.6, the highest reading since 2015, supported by improving business […]
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The 966, Episode 9 – Net-Zero for Saudi Arabia, The FII in its 5th Year, and Tourism in the Kingdom
- October 29,2021
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- SUSTG Team
This week, The 966 hosts discuss a potential rival golf league to the PGA from Saudi Arabia, Boeing’s potential comeback, and Saudi Arabia has pledged to achieve net-zero emissions by 2060. The hosts also discuss the FII in its 5th year and the growing significance of the event, and whether tourism in Saudi Arabia can grow […]
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‘We are Ready to Roll’: Will Saudi Arabia’s Olayan Group Join the IPO Party?
- October 28,2021
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- SUSTG Team
Saudi Arabia’s Olayan family, which runs one of Saudi Arabia’s biggest conglomerates and is one of the richest in the Kingdom, may “revive plans to take some of its companies public,” according to a report today in Bloomberg.
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Saudi Aramco Chief Says World’s Spare Oil Supplies Are Falling Rapidly, Urges Production Investment
- October 27,2021
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- SUSTG Team
Saudi Aramco’s CEO Amin Nasser said that oil-output capacity across the world is dropping quickly and companies need to invest more in production, according to a story in Bloomberg. It’s a “huge concern,” Nasser said in an interview in Riyadh. “The spare capacity is shrinking.”
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Future Investment Initiative (FII) Kicks Off 5th Annual Summit with Focus on Climate, Humanity, Energy
- October 26,2021
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- SUSTG Team
The first day of the Future Investment Initiative (FII) conference kicked off this morning in Riyadh with a focus on investing in humanity, sustainability, and impactful investing. The FII comes just a day after the Saudi Green Initiative and Middle East Green Initiative Launch Events that concluded yesterday in the Saudi capital.
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Saudi Arabia Joins Global Community with Pledge to Achieve Net Zero Emissions by 2060
- October 25,2021
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman announced on Saturday at the Saudi Green Initiative (SGI) event that the world’s top oil exporter aims to reach “net zero” emissions of greenhouse gases, mostly produced by burning fossil fuels, by 2060, according to reports.
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The 966, Episode 8 – F1 Grand Prix in Jeddah, The Puzzle of U.S.-Saudi Ties, Tadawul Hits 15 Year High, Solar Costs Rise
- October 22,2021
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- SUSTG Team
This week, The 966 hosts discuss the upcoming COP 26 UN Climate Change Conference in Glasgow, the F1 race in Jeddah, an excellent recent commentary piece by Jon Alterman of the CSIS, Tadawul’s 15-year high, and the rising cost of solar energy components in Saudi Arabia.
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MUST-READS
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Chart: Deadliest Q1 Since 2017 for Mediterranean Migrant Crossing
As more migrants are once again crossing the Mediterranean, more deaths are occurring on this migration route that has been deemed the most dangerous in the world. Over the weekend, around 3,000 migrants reached Italy, with the Italian coastguard evacuating many from crowded boats close to the country's shores, including 400 on a vessel that was adrift in inclement weather. The UN has criticized delays caused by state-led rescue operations as well as the blocking of civilian rescue ships that has become commonplace - both exacerbating the humanitarian crisis in the region.
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Chart: Wind & Solar Meet Majority of Electricity Demand Growth
Data shows that there’s been significant progress in the production of solar and wind power over the past two decades. In 2022, solar added a record of 245 TWh of generation in 2022, while wind added a record 312 TWh - together accounting for 80 percent of the world's increased need for electricity that year. While this is a move in the right direction, coal and other fossil fuels were still needed to meet the world’s overall growing need for electricity.
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Chart: Wind & Solar Meet Majority of Electricity Demand Growth
Data shows that there’s been significant progress in the production of solar and wind power over the past two decades. In 2022, solar added a record of 245 TWh of generation in 2022, while wind added a record 312 TWh - together accounting for 80 percent of the world's increased need for electricity that year. While this is a move in the right direction, coal and other fossil fuels were still needed to meet the world’s overall growing need for electricity.
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Saudi Arabia approves amendments to the Transfer Pricing Bylaws to include zakat payers as part of covered entities
On 7 April 2023, the Zakat, Tax and Customs Authority (ZATCA) announced the issuance of Decision of the Board of Directors of the Zakat, Tax and Customs No (8-2-23) dated 28/08/1444AH (Decision), approving changes that will include zakat payers within the scope of the Saudi Arabian TP Bylaws.
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Iran exploits earthquake relief mission to fly weapons to Syria
After the Feb. 6 earthquake in northern Syria and Turkey, hundreds of flights from Iran began landing in Syria's Aleppo, Damascus and Latakia airports bringing supplies, and this went on for seven weeks, the sources said. More than 6,000 people died in all of Syria, according to the United Nations.
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Russia starts fuel supplies to Iran by rail – sources
Russia started fuel exports to Iran by rail this year for the first time after traditional buyers shunned trade with Moscow, according to three industry sources and exports data. Russia and Iran, both under Western sanctions, are forging closer ties in order to support their economies and to undermine Western sanctions which both Moscow and Tehran cast as unjustified.
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Russia signals focus on Iran’s transit sector as economic ties lag military partnership
Russian top presidential aide Igor Levitin has visited Iran for the second time this year. Levitin was hosted by senior officials in Tehran, including Supreme National Security Council (SNSC) Secretary Ali Shamkhani and First Vice President Mohammad Mokhber. While Iran and Russia's growing military cooperation has been making headlines, the top Russian official’s most recent trip to Tehran appears to have focused on the economic partnership and transit links.
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Islamic Arts Biennale: Saudi Arabia Puts a Spotlight on Global Islamic Art
One year after the Diriyah Contemporary Art Biennale launched in Riyadh, the Islamic Arts Biennale in Jeddah embraces myriad global traditions of Islamic religious practice and places the city at the center of narratives of pilgrimage, piety, migration, and movement.
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Chart: Saudi Arabia Is Investing Heavily in Desalination
The 4th MENA Desalination Projects 2023 Report details how a total of $39.3 billion is currently being spent on desalination projects across the region, whether planned or already underway. Saudi Arabia and the United Arab Emirates are investing the most of these countries, with a total of $14.58 billion and $10.28 billion worth of projects, respectively.
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Chart: Saudi Arabia Is Investing Heavily in Desalination [
The 4th MENA Desalination Projects 2023 Report details how a total of $39.3 billion is currently being spent on desalination projects across the region, whether planned or already underway. Saudi Arabia and the United Arab Emirates are investing the most of these countries, with a total of $14.58 billion and $10.28 billion worth of projects, respectively.
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