SUSTG.com / Research

Discover stories, topics, and more about Saudi Arebia faster.

Recent stories from sustg

MUST-READS

  • Turkey earthquake: Three relief aid flights from Saudi Arabia en-route to Adana

    Monday’s quake, followed hours later by a second one almost as powerful, toppled thousands of buildings including hospitals, schools and apartment blocks, injured tens of thousands, and left countless people homeless in Turkey and northern Syria. The Saudi Press Agency reported on Friday that the three aid flights were carrying over 104 tons of relief material including food, tents, blankets, rugs, shelter bags and medicine, in addition to rescue teams.

  • Flat6Labs announces first close of $20m Startup Seed Fund in Saudi Arabia

    It involved participation from Saudi Venture Capital Company, a subsidiary of the Riyadh-based Small and Medium Enterprises Bank, which is affiliated with the National Development Fund, and the Jada Fund of Funds that is wholly owned by the kingdom’s sovereign wealth fund, the Public Investment Fund, Flat6Labs said. The Startup Seed Fund enables start-ups to receive follow-on funding of up to 2.4 million riyals and helps them to obtain access to support and training programmes.

  • Flat6Labs announces first close of $20m Startup Seed Fund in Saudi Arabia

    Cairo-based venture capital company Flat6Labs announced the first close of the Startup Seed Fund in Saudi Arabia, which is aimed at supporting entrepreneurs in the kingdom. The 75 million riyal ($20 million) fund was created to invest in early stage start-ups operating in the technology and innovation sectors in Saudi Arabia. It involved participation from Saudi Venture Capital Company, a subsidiary of the Riyadh-based Small and Medium Enterprises Bank, which is affiliated with the National Development Fund, and the Jada Fund of Funds that is wholly owned by the kingdom’s sovereign wealth fund, the Public Investment Fund, Flat6Labs said.

  • Turkey earthquake: How building negligence led to catastrophic outcomes

    In fact, after an investigation into the 1999 earthquake in Turkey, it was found that buildings in the city did not meet design requirements and were not earthquake resistant as required by the regulations. Several reports also mentioned that the country used poor construction material and were “shoddily constructed.” Multiple studies, including one from 2020 reiterated the caution, stating that multiple districts are vulnerable to earthquakes of more than 7.4 magnitudes.

  • BlackRock-led investors in Aramco pipelines start bond sale

    Investors in Saudi Aramco's gas pipeline network, led by BlackRock Inc (BLK.N), have begun a sale of dollar bonds in three tranches to refinance a multi-billion dollar loan that backed their stake purchase, a bank document showed. The BlackRock-led investors, along with Saudi state-backed Hassana Investment Co., agreed to a $15.5 billion lease-and-leaseback agreement with Aramco in late 2021, which gives the investors a 49% stake in Aramco Gas Pipelines Co.

  • France makes art inroads in Saudi Arabia with Centre Pompidou project allegedly on the horizon

    The Centre Pompidou in Paris will oversee a museum project in the AlUla region of Saudi Arabia, according to Le Monde newspaper. Specialists from the Paris-based Beaubourg gallery will advise on a new gallery called Perspective Galleries which has been designed by the Lebanese architect Lina Ghotmeh, adds Le Monde. At the time of writing, representatives from the Centre Pompidou had not responded to a request for comment.

  • Plight of homeless deepens as Turkey-Syria earthquake toll passes 17,000

    The plight of hundreds of thousands of people left homeless by earthquakes in Turkey and Syria grew more desperate on Thursday, while hopes faded of many more people being found alive amid the ruins of cities. The death toll from Monday's quakes, which struck in the early morning, passed 17,000 on Thursday across both countries. It was the biggest natural disaster to strike the region since 1999, when a similarly powerful quake killed more than 17,000 people in Turkey.

  • Libyan military committee agrees coordination on foreign forces departure

    Libya's "5+5" military committee of officers from both main sides of the civil war has agreed on a coordination mechanism for the withdrawal of foreign forces in liaison with neighbouring Sudan and Niger, the United Nations said on Wednesday. The procedural step would allow for joint coordination and data exchange to facilitate the full withdrawal of mercenaries and foreign fighters from Libya, the U.N. Libya envoy Abdoulaye Bathily announced after a meeting in Egypt.

  • Saudi Arabia Wealth Fund Returns to Debt Market With Three-Part Sale

    Saudi Arabia’s sovereign wealth fund raised $5.5 billion from a three-part green bond sale, the second debt offering by the Public Investment Fund within four months. The PIF secured more than $32 billion of orders for the bonds that have maturities of 7, 12 and 30 years, according to people familiar with the matter, who asked not to be identified. The deal priced with the notes to yield 115, 145 and 185 basis points over US Treasuries.

  • Chart: Turkey: 20 Earthquakes in Two Days

    Thousands of people have been killed in Turkey and northern Syria after a 7.8 magnitude earthquake struck on Monday. According to data from the German Federal Institute for Geosciences and Natural Resources (BGR), the earthquake and its aftershocks hit the areas of Central Turkey, East Turkey and the Turkish-Syrian border region between Monday 6 and Tuesday 7 February. As our chart shows, the initial 7.8 quake was closely followed by a 6.7 magnitude aftershock in the same region, and a 5.6 magnitude aftershock in the Turkey-Syria border region.