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Recent stories from sustg
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Halo Space to test Balloon Flight from Saudi
Spanish company Halo Space is in talks with Saudi regulators to set up a base in the kingdom for balloon flights into space. Ongoing tests are planned for Saudi Arabia this summer.
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Saudi Arabia Gets First Cannes Official Selection Slot With Drama ‘Norah’
Saudi Arabia has landed its first film in the Cannes Film Festival official selection with “Norah,” a drama by pioneering director Tawfik Alzaidi set in 1990s Saudi, according to reports.
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MBS’ True Legacy
Writing in Al-Arabiya, Richard Wilson, SUSTG president and The 966 Co-host, points out the fundamental (rather than flashy) changes that represent Crown Prince Mohammed Bin Salman’s true legacy.
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U.S. Ambassador Michael Ratney joins The 966 for a truly informative Episode #127
U.S. Ambassador Michael Ratney shares his insights with The 966 in a wide-ranging conversation with Richard Wilson. Just over one year in his position, Amb. Ratney offers his perspective on change in Saudi Arabia and an evolving U.S.-Saudi relationship.
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Eid Mubarak 2024
Wishing all peace and serenity on this blessed occasion.
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Saudi Arabia’s Ambassador to the U.N. to Chair Historic Commission on the Status of Women
The United Nations Commission on the Status of Women (CSW) unanimously decided to choose Saudi Arabia to chair the 69th session of the commission during the year 2025, according to reports.
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Saudi Stock Market Lists 400th Security
Formally established in 2007 after the devastating market crash of 2006 and incorporated as a holding company in 2021, the Saudi stock market (Tadawul) recently hit a milestone of 400 listed securities.
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Saudi Arabia’s non-oil business activity grows robustly in March, PMI shows
Strong demand helped drive non-oil business activity in Saudi Arabia in March, Reuters reports, with output accelerating to a six-month high.
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Saudi Aramco to Expand Huge Gas Plant as Global Demand Surges and Market Dynamics Shift
Saudi Aramco is moving ahead with plans to expand the Fadhili gas processing facility in the kingdom’s Eastern Province as part of its strategy to tap vast and under-developed gas resources within Saudi Arabia, according to a report in Bloomberg.
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Dolce & Gabbana Launches Flagship Saudi Store at Via Riyadh after Approaching KSA Market with ‘Caution and Respect’
Fashion icon Dolce & Gabbana unveiled a unique strategy for Saudi Arabia, opening up a flagship new store in Via Riyadh after approaching the market with “caution and respect,” Vogue Middle East reported.
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MUST-READS
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Trump looms large over Biden’s long-shot talks on Israel-Saudi normalization
Sitting together last month, Graham and MBS spoke with Trump for roughly five minutes, two people familiar with the call told CNN. The conversation was friendly and consisted mostly of exchanging pleasantries and casual chatter about the US presidential election. At one point, Trump touted his poll numbers, one of the people said. Not once did the normalization deal come up, both sources said.
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Saudi Arabia’s booming hospitality sector to add 320,000 hotel rooms by 2030
Saudi Arabia is projected to have 320,000 new hotel rooms by 2030 across the country to accommodate an influx of 150 million domestic and international tourists annually, according to a new report.
This expansion, according to the figures by global property consultancy Knight Frank, will boost the nation’s travel and tourism industry which already accounts for nearly six percent of Saudi Arabia’s GDP today and is central to achieving the government’s goal of tourism contributing 10 percent to the economy by 2030.
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Saudi Arabia makes up 41% of GCC telecom revenues, 37% of assets
Saudi Arabia accounted for 41% of total revenues in the GCC telecommunications and information technology sector and 37% of total assets. The revenues of Saudi-listed companies listed within the sector reached about SAR 119 billion in 2023, marking growth of more than 10% year-on-year (YoY). This was presented by Argaam team during the ICT Indicators Forum 2024 in its tenth edition, organized by the Communications, Space & Technology Commission (CST). The Kingdom accounted for 34% of the total sector’s assets valued at SAR 250 billion in 2023, with a YoY rise of about 12%.
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Saudi Arabia’s King Salman leaves hospital after tests
Saudi King Salman left hospital after a routine check-up on Wednesday, the Royal Court said in a statement carried by the official Saudi Press Agency.
Earlier in the day, the Royal Court said King Salman entered King Faisal Specialist Hospital in Jeddah for a routine check-up for “a few hours".
“May Allah protect the Custodian of the Two Holy Mosques and grant him health and wellness,” the court said.
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Saudi Arabian healthcare group Fakeeh Care Group announces IPO
Saudi Arabia's Fakeeh Care Group, one of the largest private hospital groups in the kingdom, said on Wednesday it planned to proceed with an initial public offering (IPO) through the sale of a 21.47% stake in existing and new shares.The family-owned business, with hospitals in Jeddah and Riyadh, plans to offer 30 million new shares and 19.8 million existing shares to investors, it said in a statement.
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Saudi Arabia’s non-oil exports surge by 4.4%: GASTAT
Saudi Arabia’s non-oil exports, including re-exports, saw a surge of 4.4 percent in February compared to the same period of 2023, official data showed. According to the General Authority for Statistics, the total value of this sector reached SR21.86 billion ($5.83 billion), marking a rise from SR20.93 billion in the same period of the previous year.
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IMF To Open New Regional Office In Saudi Arabia
The first director of the regional office will be Mr. Abdoul Aziz Wane who is a seasoned IMF leader with deep knowledge of the institution and a vast network of policymakers and academics across the world. He is a national of Senegal.
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In Iran, talk of capacity to build nukes sparks bipartisan backlash
Supreme Leader Ayatollah Ali Khamenei has accused the US of attempting a Libya-style shutdown of Iran’s nuclear facilities. This comes as some Iranian officials have indicated that the Islamic Republic may turn to nuclear weapons if pushed into a corner. But rather than being welcomed amid tension with Israel, such remarks have sparked a cross-partisan backlash—with both media and pundits portraying such discourse as a pretext for the west to further sanction Iran.
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Israel’s Next Front? Iran, Hezbollah, and the Coming War in Lebanon
Over the past six months, tensions along Israel’s border with Lebanon have escalated dramatically. Israel has now deployed 100,000 troops to its north to confront the Shiite militant group Hezbollah, and the fighting there has steadily intensified. Nearly 400 Lebanese—including around 70 civilians and three journalists—have been killed, 90,000 Lebanese civilians have been displaced from around 100 towns and villages along the Israeli-Lebanese border, and Lebanese villages and olive groves have incurred widespread damage from phosphorus bombs.
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IAEA may hold ‘high-level’ talks in Iran as nuclear concerns grow
The International Atomic Energy Agency (IAEA), the UN’s nuclear watchdog, is considering holding a high-level political discussion in Tehran within the next “couple of weeks” as concerns grow about Iran’s nuclear programme, its director general has said.
Iran, which is currently in the middle of a stand-off with Israel – another nuclear nation – is “very close” to possessing enough enriched uranium to produce several nuclear warheads, Rafael Grossi told The National on the sidelines of the World Energy Congress on Wednesday.
“But that does not mean they have them now. One needs to be careful,” Mr Grossi said.
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