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Recent stories from sustg

  • KSRelief Spearheads Saudi aid to Gaza and the Globe
     

    King Salman Humanitarian Aid and Relief Centre (KSRelief) provides humanitarian aid and relief to people outside of Saudi Arabia’s borders. KSRelief was established by King Salman bin Abdulaziz in 2015 and works in 46 countries, with a focus on the Middle East and North Africa region.

     
  • Biden’s Oil Boom
     

    Reuters reports that during the Biden administration not only has oil production hit record highs but energy company profits, dividends, drilling permits, jobs and energy exports are all up.

     
  • PIF Increases Investment in Lucid
     

    Ayar Third Investment Company, a PIF affiliate, will buy $1 billion in convertible preferred stock and will be able to convert the preferred stock into about 280 million shares, according to a regulatory filing with the U.S. securities regulator.

     
  • Saudi Arabia to join Miss Universe for the first time
     

    27-year-old model, influencer, and beauty pageant veteran Rumy AlQahtani announced on Instagram that she will be representing Saudi Arabia in 72nd Miss Universe contest in Mexico later this year.

     
  • Hyundai and Red Sea Global Agree to Test EVs and Air Mobility Systems
     

    Hyundai Motor Group said on Monday it has agreed with Saudi Arabia’s state-sponsored developer Red Sea Global (RSG) to cooperate in the Middle Eastern country’s push for electrification and other eco-friendly future mobility projects.

     
  • Saudi Film Commission Reports Impressive 2023 Growth Statistics
     

    Published in Screen Daily, the Saudi Film Commission reported on topline 2023 metrics for Saudi Arabia’s growing film industry. With more than 50% of the Saudi population under 25, there is a significant appetite for cinema, particularly for US action films, Egyptian comedies, and Saudi narratives.

     
  • FIFA Series 2024 Friendly Matches Kick Off in Jeddah
     

    The FIFA Series: Saudi Arabia A will be held in Jeddah, Saudi Arabia from March 21–26, 2024. The event will feature two groups, including Cambodia, Equatorial Guinea, Guyana, and Cape Verde. The series is designed to help national teams that do not often play teams from other confederations, and FIFA will cover the teams’ travel costs. There will be […]

     
  • NYT Reports on Proposed $40B Saudi AI Investment
     

    The New York Times’ Maureen Farrell and Rob Copeland report that Saudi Arabia is working with Wall Street banks to establish a $40 billion AI-focused investment fund.

     
  • U. S. Secretary of State Antony Blinken to Visit Middle East this week Seeking Ceasefire Agreement
     

    U.S. State Department spokesman Matthew Miller said, “The Secretary will discuss efforts to reach an immediate ceasefire agreement that secures the release of all remaining hostages, intensified international efforts to increase humanitarian assistance to Gaza, and coordination on post-conflict planning for Gaza, including ensuring Hamas can no longer govern or repeat the attacks of October 7.”

     
  • OPEC and IEA Agree on Something
     

    The Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA), two of the leading global energy forecasters, have long disagreed on demand growth.  They agree on this however.

     

MUST-READS

  • Saudi Arabia’s Policy Shifts Open New Doors for Global Investors

    The enduring popularity of mocktails is expected to persist, with a considerable number of individuals choosing to refrain from alcohol consumption due to religious beliefs, regardless of any potential changes in alcohol regulations. Ensuring a sustained market for high-quality mocktails and non-alcoholic alternatives.

  • Saudi Arabia is becoming a hot spot for global technology manufacturing with sustainable practices in mind.

    AI and industry 4.0 technology presents an unprecedented opportunity for manufacturers to transform their operations. The market for industry 4.0 technology is expected to reach $327.8 billion by 2030, as manufacturing companies deploy AI, robotics, and other technologies for automation, increased efficiency, and other benefits. At the same time, manufacturers are looking to improve sustainability in their operations, and are looking for greater resilience and flexibility in their supply chains.

  • Prince Faisal: Saudi Arabia is more optimistic about regional stability and security

    Foreign Minister Prince Faisal bin Farhan said that Saudi Arabia is more optimistic about the stability and security of the countries in the region. He said that the Kingdom’s vision pushes towards the development, reconstruction and stability of the region and not toward unrest. The minister made the remarks while speaking to Al-Arabiya/Al-Hadath on the sidelines of the first high-level EU-GCC Forum on Regional Security and Cooperation held in Luxembourg.

  • What does EU visa relaxation for Saudi, Bahraini, Omani citizens mean?

    Under the new rules, Bahraini, Omani and Saudi Arabian nationals will be eligible for multiple-entry visas, allowing them to visit the Schengen area (the EU’s 27 member states as well as Bulgaria and Romania) and move freely between them.

  • Updates On Saudi Arabia’s Regional Headquarters Program

    The multinational company must start RHQ operations within six (6) months after its RHQ license is granted and it must establish three (3) optional activities chosen in the first year of the license operation.

  • Top US diplomat to visit Saudi Arabia this weekend following China trip

    The top US diplomat is scheduled to visit Saudi Arabia this weekend, diplomatic sources told Al Arabiya English on Tuesday.

    Sources said Secretary of State Antony Blinken, who will travel to China this week, is expected to attend the World Economic Forum in Riyadh and may hold bilateral meetings on the sidelines.

  • Saudi Arabia airline Flynas confirms plans to launch IPO this year

    Saudi Arabia's low-cost airline Flynas on Tuesday confirmed plans to list its shares on the Tadawul stock exchange this year, amid the kingdom's ambitions to grow its aviation sector and a boom in initial public offerings in the country.

    Flynas, which is backed by billionaire businessman Prince Alwaleed bin Talal, recorded a 32 per cent annual increase in revenue to reach 6.3 billion Saudi riyals ($1.68 billion) in 2023, its chief executive Bander Al Mohanna told the Airline Economics conference in Riyadh.

    The carrier revealed its financial results for the first time ahead of the anticipated IPO.

  • Saudi Arabia braced for heavy rainfall, Civil Defense issues warning

    Saudi Arabia is set to receive more rainfall toward the weekend, with Riyadh and its outskirts likely to witness heavy rains from Friday to next Tuesday. In addition, the National Center for Meteorology said on Tuesday: “May forecasts indicate a chance of higher than average rainfall.” More rain is forecast this week in Makkah, Jazan, Aseer, Al-Baha, the Eastern Province, and regions in Riyadh, the NCM added.

  • Blinken planning to visit Saudi Arabia this weekend

    Blinken is expected to participate at a special meeting of the World Economic Forum that will take place in Riyadh on April 28-29, the sources said. U.S. officials say Blinken is also considering traveling to Israel as part of this trip and meeting with Prime Minister Benjamin Netanyahu and other senior officials.

  • Saudi Arabia’s cinema revenue soars to over $986 million in just six years

    Saudi Arabia’s cinema industry has generated revenue of SAR3.7 billion ($986.42 million) just six years after the opening of its first cinemas. According to government data from the General Authority of Media Regulation, the industry sold from April 2018 to March of the current year, over 61 million tickets, screening a total of 1,971 films, including 45 local productions. This growth highlights the rapid adoption of cultural activities in Saudi Arabia, aligning with the goals of Vision 2030 to diversify the economy and improve the quality of life.