Analysis

BANKING AND FINANCE

Saudi Arabia’s SAMA Launches First Licenses for Non-Bank Financial Institutions in Line With Financial Sector Development Program Goals

• SUSTG Team
• |
• 1. 31. 2020

The Saudi Arabia Monetary Agency (SAMA) announced the launch of licenses for non-bank financial institutions, a news release on its website said, issuing the first licenses for an electronic wallet company and the first license for a payment services company in the Kingdom.

• Saudi Culture

  

  Saudi Authority Calls on UNESCO to Protect Traditional Khawlani Coffee Cultivation Techniques

  SUSTG Team  |  1. 20. 2020

  The Saudi Heritage Preservation Society has called on UNESCO to protect traditional Khawlani coffee cultivation techniques in Saudi Arabia in a press release, noting that the Arabian tradition "has been passed down for generations by the ancient tribes of Khawlan."

• Saudi Economy

  

  World Bank Sees Saudi GDP Growth to Increase to 1.9% in 2020, with More Growth Onward

  SUSTG Team  |  1. 10. 2020

  The World Bank forecasted Saudi Arabia's GDP growth will increase significantly in 2020, to 1.9%, compared with 0.4% in 2019, with further gains in subsequent years.

• U.S.-Saudi Security

  

  Lockheed Martin Awarded Contract to Build Four MMSC ships for Saudi Arabia

  SUSTG Team  |  12. 23. 2019

  The Navy announced Friday that Lockheed Martin was awarded a $1.96 billion contract adding to a previous agreement to build four multi-mission surface combatants for Saudi Arabia.

• September 14 attacks

  

  U.S. Probe of Saudi Oil Attack Shows it Came From the North – Reuters Report

  SUSTG Team  |  12. 20. 2019

  The United States said new evidence and analysis of weapons debris recovered from an attack on Saudi oil facilities on Sept. 14 "indicates the strike likely came from the north, reinforcing its earlier assessment that Iran was behind the offensive," Reuters reports in an exclusive.

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  Global Construction Giant Bechtel Opens New Office in Al-Khobar, Saudi Arabia

  SUSTG Team  |  12. 17. 2019

• Vision 2030

  

  Saudi Aramco Officially the World’s Biggest IPO, Raises $25.6 Billion

  SUSTG Team  |  12. 6. 2019

  Saudi Aramco sold 3 billion shares at 32 riyals ($8.53) each in its IPO, raising $25.6 billion, making it the world's biggest IPO.

• Economy

  

  Saudi Authorities Direct Vision 2030 Realization Committees to Submit Plans to Boost Private Sector Funding

  SUSTG Team  |  11. 19. 2019

  Saudi authorities have directed all the Vision 2030 Realization Program (VRP) Committees to submit an action plan within 90 days to CEDA to "activate the role of the private sector as an investor and a financing element in implementing its initiatives," a report in the Saudi Gazette/OKAZ said.

• Technology and Innovation

  

  Saudi Arabia, World Economic Forum to set up ‘Fourth Industrial Revolution Center’

  SUSTG Team  |  11. 7. 2019

  Saudi Arabia signed an agreement with the World Economic Forum (WEF) on Wednesday to establish a branch in the Kingdom of the WEF’s Center for the Fourth Industrial Revolution, a program focused on new technologies that will power economic change in the immediate years to come.

• Saudi Economy

  

  Saudi Arabia to Cut Spending, Deficit Projected to Widen as Economic Reforms Kick In

  SUSTG Team  |  11. 1. 2019

  Saudi Arabia's finance minister Mohammed Al-Jadaan said in his pre-budget statement for fiscal year 2020 yesterday that the Kingdom would cut spending and widen its projected deficit in a vote of confidence in Saudi Arabia's economic reforms.