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With PIF Backing, Saudi Ports Behemoth Red Sea Gateway Terminal Looks for Big Investments Abroad
- May 26,2021
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- SUSTG Team
The operator of Saudi Arabia’s Red Sea Gateway Terminal (RGST) is looking to invest in ports in Africa and the Middle East, following backing from the Kingdom’s sovereign wealth fund (PIF), Bloomberg reports.
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Saudi Arabia Eyes $55 billion by 2025 Through Privatization Program, Al Jadaan Says
- May 25,2021
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- SUSTG Team
Saudi Arabia hopes to raise about $55 billion over the next four years with a revitalized privatization program, the country’s finance minister Mohammed Al-Jadaan told the London-based Financial Times in an interview published over the weekend.
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U.S. Blasts Houthi Leadership, Sanctions Two Top Commanders as Peace Talks Stall – Report
- May 21,2021
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- SUSTG Team
The Biden Administration announced new sanctions on two Houthi military officials, the U.S. Treasury Department said, taking action over the Iran-aligned movement’s offensive to seize Yemen’s gas-rich Marib region and lack of real commitment to finding a peaceful solution to the end of the war there.
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Saudi FM Faisal bin Farhan Acknowledges ‘Exploratory Talks’ with Iran; Kingdom is ‘Hopeful’
- May 19,2021
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- SUSTG Team
Saudi Arabia’s Foreign Minister HRH Prince Faisal bin Farhan acknowledged in an interview with the AFP that the Kingdom has held “exploratory talks” with regional rival Iran, and said that Saudi Arabia is “hopeful” that the talks in their early stages will lead to diplomatic progress.
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Saudi Arabia’s Ultra-Lux Amaala Resort May Raise Up to $2.7 Billion Next Year
- May 18,2021
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- SUSTG Team
Saudi Arabia’s ultra-luxury Amaala tourism project may raise up to 10 billion riyals ($2.7 billion) in 2022, the CEO of the company, John Pagano said in an interview on the sidelines of Arabian Travel Market in Dubai.
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Saudi Arabia Opens Up International Travel; Saudis Rejoice
- May 17,2021
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- SUSTG Team
Vaccinated Saudis will be allowed to leave the kingdom for the first time in more than a year on Monday as the country eases a ban on international travel, according to reports. The Ministry of Interior announced it will open land, sea, and air borders, allowing Saudi citizens to travel outside of the Kingdom beginning May […]
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As Construction Activity Picks Up, Prices of Building Materials in Saudi Arabia Soars
- May 14,2021
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- SUSTG Team
Prices of key construction materials in Q1 in Saudi Arabia soared to the highest prices in 12 years, with steel leading the increase as construction activity began to recover from the slowdown caused by the coronavirus disease pandemic last year.
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Saudi Arabia’s ACWA Power Begins Construction on South Africa’s Largest Renewable Project
- May 13,2021
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- SUSTG Team
Saudi-based ACWA Power has announced the start of construction on the 100MW Redstone solar thermal project in South Africa following financial close of the deal, according to reports.
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Saudi Arabia, Arab League Blast Israel’s ‘Excessive Force’ in Gaza
- May 12,2021
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- SUSTG Team
Saudi Arabia’s foreign minister on Tuesday condemned Israel’s attempts to evict Palestinians from their homes, as the Kingdom and the Arab League “angrily denounce” what they call the use of excessive force in Gaza.
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Saudi Arabia’s Public Investment Fund Reportedly Eyes IPO for Security Company Elm
- May 11,2021
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- SUSTG Team
Elm, the digital security firm owned by Saudi Arabia’s Public Investment Fund (PIF), is exploring a roughly $2 billion initial public offering (IPO), Bloomberg reports.
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MUST-READS
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Saudi-GermanyGermany to restart joint police training with Saudi Arabia
The German government intends to restart joint police training with Saudi Arabia, almost a year after halting the program following the murder of Saudi journalist Jamal Khashoggi. Chancellor Angela Merkel's spokesman, Steffen Siebert, said on Monday that "it is clearly in our interests that borders are secure in the Arab world and are not permeable to terrorists."
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Saudi EconomySaudi Arabia: 2019 IMF Article IV Consultation Staff Report
Reforms are starting to yield positive results. Oil prices and production have been volatile, and uncertainties in the global oil market continue.
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JASTAJustice Department considering releasing name in Saudi Arabia 9/11 lawsuit
Attorney General William Barr faced a Friday deadline to decide whether the Justice Department would release the name, which was redacted from a 2012 FBI document that described how men in Southern California assisted two terrorist hijackers ahead of the attack, the Associated Press reported.
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M&A in KSAHere are 4 charts to summarise Saudi Arabian M&A during 2019
Saudi Arabian M&A has reached its joint-highest YTD deal count on Mergermarket record, with 17 deals announced in the year so far
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Yemen Civil WarYemen’s government starts indirect talks with southern separatists in Saudi Arabia – officials
“Indirect talks have started between the government and the STC (Southern Transitional Council separatists) via the Saudi side,” a senior Yemeni official, who declined to be named, told Reuters. “The situation is very difficult and complicated but we hope to achieve some progress.”
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Business StartupsWhy Saudi Arabia Is Being Increasingly Seen As The Place To Be To Start A Business In The Middle East
The establishment of Monshaat, Saudi's General Authority for Small and Medium Enterprises, is among the key steps to develop and nurture the SME sector.
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Ministry of CultureSaudi Arabia Has Announced Two New Academies for Art and Music
Out of the two new academies, one will specialize in heritage and traditional arts, while the other is dedicated to music. Applicants can register for the heritage institute in the autumn of 2020 for short-term and long-term programs, whereas music-enthusiasts can expect to begin by 2021.
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Travel and TourismStarting This Month, Saudi Arabian Citizens Can Travel Visa-Free to South Africa
According to Arab News, Saudis will now be able to travel to South Africa without a visa starting August 15. Along with the United Arab Emirates, the Kingdom was recently added to the list of countries whose citizens don’t need a visa to visit the diverse nation and highly popular tourist destination.
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SocietyEven Saudi Arabia’s Most Conservative Heartland Is Starting to Sing
Change is inching forward even in Qassim province, an important testing ground for Mohammed bin Salman’s drive to liberalize the kingdom.
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WomenSaudi Arabia women’s rights reforms may still be thwarted by custom
Thousands of Saudi women took to social media to celebrate royal decrees on Friday that allow women above 21 to travel without permission as of the end of August. Women also now have the right to register births, marriages and divorces, to be issued official family documents and be guardians to minors. Experts, however, say male relatives can still obstruct women defying their wishes through legal avenues or informal routes in the ultra-conservative kingdom, where it will take time to change views on gender and social customs.
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