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First American Chamber of Commerce Established in Riyadh; ABGR Becomes AmCham KSA
- January 20,2021
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- SUSTG Team
The American Business Group of Riyadh (ABGR) has formally become part of the global network of the American Chambers of Commerce with the announcement that the group will now be known as the American Chamber of Commerce in Saudi Arabia (AmCham KSA), the first such establishment of its kind in the Kingdom.
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As Thaw Continues, Broadcasts by Qatar-based beIN Sports TV Channel Appear on Saudi TVs, Witnesses Say
- January 19,2021
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- SUSTG Team
Qatar-based TV channel beIN Sports was broadcast in Saudi Arabia on Monday after the two countries reconciled this month, ending a rift of more than three years, according to Reuters. The sports channel was barred from broadcasting in Saudi Arabia since mid-2017, when relations between the two countries were suspended, and was even the subject of international litigation between […]
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After Strong Finish in 2020, Oil Likely to Continue Steady Comeback in 2021 — Jadwa Investment
- January 18,2021
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- SUSTG Team
After a strong finish to 2020, oil demand will continue rising in Q1 and during the rest of the year on a quarterly basis, but still end up 3 percent lower than pre-COVID-19 levels by the end of 2021, a recent report by Jadwa Investment on the market said.
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Saudi Arabia’s New Open Banking Policy to Turbocharge Digital Innovation
- January 15,2021
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- SUSTG Team
Saudi Arabia’s central bank, the Saudi Arabian Monetary Authority (SAMA), is introducing an open banking policy to advance digital innovation in the financial services sector, the body announced this week.
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Saudi Arabia’s Crown Prince Says Kingdom Offering $6 Trillion in Investment Opportunities Over Next Decade
- January 14,2021
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman said the Kingdom offers investment opportunities worth $6 trillion over the next decade, with new projects representing half of this value, he said in a speech at the World Economic Forum on Wednesday.
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$5 Billion Hydrogen Project JV Planned for NEOM Hires Financial Advisor – Report
- January 13,2021
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- SUSTG Team
A three-organization joint venture hydrogen project between Air Products, NEOM, and ACWA Power has hired financial firm Lazard to advise on a planned $5 billion hydrogen project in the NEOM high-tech business zone in Saudi Arabia, according to a Reuters report, citing sources.
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Saudi Arabia Postpones Riyadh Airport Expansion Financing after Pandemic
- January 12,2021
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- SUSTG Team
The global pandemic and its impact on travel is causing the Kingdom to delay its plans to raise financing “potentially worth billions of dollars” for the expansion of Riyadh’s airport, sources told Reuters.
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In Rare Televised Appearance, Crown Prince Mohammed bin Salman Launches ‘The Line’, a Zero-Carbon Emissions City at NEOM
- January 11,2021
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- SUSTG Team
In a rare televised appearance on Sunday, Saudi Arabia’s Crown Prince Mohammed bin Salman unveiled ambitious plans for a new carbon-free city at NEOM, in the Kingdom’s northwest along the Red Sea.
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Oil Set for Weekly Gain, Hits 11-Month High on Announced Saudi Oil Cuts
- January 8,2021
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- SUSTG Team
Oil prices hit 11-month highs and were on track for a weekly gain on Friday, boosted by Saudi Arabia’s pledge to cut output announced this week.
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Energy Minister Prince Abdulaziz bin Salman: New Saudi Cut Is ‘Commercial Choice, Not Political’
- January 7,2021
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- SUSTG Team
Saudi Arabia’s energy minister Prince Abdulaziz bin Salman called this week’s surprise oil output cut for February and March a “wonderful present” for the oil industry and will affect both domestic sales and exports, and said that the choice for a cut was commercial and not political.
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MUST-READS
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Saudi AgriTech start-up Red Sea Farms to expand in the US
The Controlled Environment Agriculture Centre at the University of Arizona's College of Agriculture and Life Sciences will evaluate the company's latest technology with the aim of introducing it in the world’s largest economy, Red Sea Farms said on Monday. “Many parts of the US are water-scarce with seasonal harsh climates, making it a challenge to grow fresh produce year-round,” said chief executive Ryan Lefers.
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Golf Saudi’s participation mission gaining steam
The organisation’s goals for 2025 include ensuring 3.5million+ nationals get to try golf for the first time, including more than 135,000 school children. The goal is to create 29,000 regular golfers. Golf Saudi also aims to welcome 5,000 international golf tourists to the Kingdom per annum.
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Saudi AgriTech start-up Red Sea Farms to expand in the US
Red Sea Farms, which is backed by investors from Saudi Arabia and the UAE, is expanding into the US through its new agriculture technology that tackles food security problems by helping countries to grow crops in areas with scarce water resources. The Controlled Environment Agriculture Centre at the University of Arizona's College of Agriculture and Life Sciences will evaluate the company's latest technology with the aim of introducing it in the world’s largest economy, Red Sea Farms said on Monday.
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Police thwart attempt to smuggle 1 million amphetamine pills into Saudi Arabia
Authorities arrested two nationals for attempting to distribute a large quantity of amphetamine pills in southwestern Saudi Arabia.
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Booster dose: Saudi Arabia updates Covid immunization status starting Tuesday
The countdown to updating the immunization status has begun in Saudi Arabia. Starting Feb. 1, the “Immune” vaccinated status will expire in the Tawakkalna application for anyone who is aged 18 and above and has passed eight months after taking the second dose of the COVID-19 vaccine but has not received the booster dose.
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Seminal Works From Influential Saudi Contemporary Artists Exhibited in the Extraordinary Desert Setting of AlUla
For What Lies Within, pieces from the past two decades by 17 artists from the collection of Saudi patron and collector Basma AlSulaiman will be on display, curated by artist Lulwah AlHomoud. The exhibition is the first in a series in AlUla celebrating pioneering collectors and patrons who have sparked and steered Saudi Arabia’s relationship with the arts, paving the way for a flourishing creative industries sector today.
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India emerges as Saudi Arabia’s second-largest trading partner
India’s Department of Commerce found that for the current financial year (April-November), trade between the two countries was $24.9 billion, an increase of 94 percent over the same period last year. It is especially heartening to note that current trends suggest that bilateral trade will surpass pre-pandemic levels.
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Saudi Arabia and South Korea sign intellectual property partnership
“Within this arrangement, the two sides will implement a number of programs and projects that will foster an IP ecosystem through patent examination, IP information, and national IP strategies. There will also be an IP Academy program, in which invention classes will be provided to elementary school children. The program will also include developing and implementing promotional activities to encourage Saudi female inventors,” Hakami said.
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Saudi artists present new work at Diriyah Contemporary Art Biennale
A selection of pieces specially commissioned for the Kingdom’s inaugural biennale, which runs until March 11 and includes work by Saudi and international artists
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Saudi Arabia’s MDL Beast signs ‘watershed’ music licensing deal to compensate artists
MDL Beast, the company behind the annual Soundstorm festival, has partnered with music rights company Esmaa to ensure payments are made to composers and rights holders whenever their works are played at MDL Beast events and on their platforms.
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