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Recent stories from sustg
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World Bank Sees Saudi GDP Growth to Increase to 1.9% in 2020, with More Growth Onward
- January 10,2020
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- SUSTG Team
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.
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Lockheed Martin Awarded Contract to Build Four MMSC ships for Saudi Arabia
- December 23,2019
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- SUSTG Team
The Navy announced Friday that Lockheed Martin was awarded a $1.96 billion contract to modify four multi-mission surface combatants (MMSC) for Saudi Arabia. This award is an addition to Saudi Arabia’s $11.25 billion agreement to provide MMSCs in 2015.
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U.S. Probe of Saudi Oil Attack Shows it Came From the North – Reuters Report
- December 20,2019
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- SUSTG Team
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. The attacks on September 14th were significant. Two of Saudi […]
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Global Construction Giant Bechtel Opens New Office in Al-Khobar, Saudi Arabia
- December 17,2019
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- SUSTG Team
Global engineering, procurement and construction (EPC) firm Bechtel has re-opened its office in Al-Khobar to “meet the increasing demand for quality services in the Oil and Gas sector in Saudi Arabia and in the region,” SUSTG has learned.
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Saudi Aramco Officially the World’s Biggest IPO, Raises $25.6 Billion
- December 6,2019
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- SUSTG Team
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. The IPO values Aramco at roughly $1.7 trillion, making it the most valuable publicly traded company in the world ahead of Apple, which is worth about $1.15 trillion. It also soared past the previous […]
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Saudi Authorities Direct Vision 2030 Realization Committees to Submit Plans to Boost Private Sector Funding
- November 19,2019
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- SUSTG Team
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. According to the report, action plans submitted by […]
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Saudi Arabia, World Economic Forum to set up ‘Fourth Industrial Revolution Center’
- November 7,2019
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- SUSTG Team
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. The deal was signed by Mohammed Al-Tuwaijri, the Saudi […]
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Saudi Arabia to Cut Spending, Deficit Projected to Widen as Economic Reforms Kick In
- November 1,2019
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- SUSTG Team
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. He also said efforts will be made to “improve the efficiency of spending without any disruption to diversification and […]
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Announcement of New IPO Date for Saudi Aramco IPO Creates Buzz on FII’s Opening Day
- October 29,2019
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- SUSTG Team
Saudi Aramco’s long-planned IPO will see its first shares traded on Riyadh’s stock exchange in December, several news outlets are reporting, citing the Saudi-owned satellite news channel Al Arabiya. Al Arabiya said a final price for the stock will be set Dec. 4, with shares then beginning to be traded on the Tadawul stock market on Dec. 11. It added […]
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Issue Brief Explores Saudi Aramco-SABIC Merger, SABIC’s ‘Importance to Energy and Chemical Businesses Worldwide’
- October 23,2019
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- SUSTG Team
A new issue brief written by Jean-François Seznec for the Atlantic Council explores the Saudi Aramco-SABIC merger and Aramco’s strategy to make the Saudi oil giant “like most other large international oil companies, except much bigger.” This issue brief studies “SABIC’s importance to energy and chemical businesses worldwide, and it raises questions about whether the merger […]
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MUST-READS
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US approves possible sale of torpedoes to Saudi Arabia: Pentagon
The State Department approves the possible sale of 20 MK 54 MOD 0 Lightweight Torpedoes to Saudi Arabia for $78.5 million, according to the Pentagon. “The proposed sale will improve Saudi Arabia’s capability to deter current and future threats by upgrading its anti-submarine warfare capabilities,” the Pentagon says. Pentagon chief Lloyd Austin has repeatedly reaffirmed to Saudi Arabia’s Defense Minister Prince Khalid bin Salman Washington’s commitment to the Kingdom’s defense and thanked him for Riyadh’s work to promote calm in the Middle East.
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Which sporting events is Saudi Arabia hosting in 2025?
On the back of the busiest sporting year Saudi Arabia has ever had, punctuated by news of the nation’s successful 2034 FIFA World Cup bid, the 2025 calendar is looking equally packed with world-class competition. Kicking off with the Dakar Rally in January, the Kingdom will host many of the biggest names in sport over the next 12 months, welcoming the world’s leading athletes across a range of events. Al Arabiya English explores what sporting events will be hosted by Saudi Arabia in 2025.
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All 6 lines of Riyadh Metro operational with rollout of Orange Line
The Line 3 (Orange Line) covering Madinah Road would connect the east of Riyadh to its west, and extends from Jeddah Road in the west to the second eastern ring road adjacent to the Khashm Al-Aan area in the east with a total length of 41 km. This marks the completion of the phased operation of the six lines of the Riyadh Metro network according to the plan previously announced when the project was inaugurated by Custodian of the Two Holy Mosques King Salman on Nov. 27, 2024. The RCRC said in a statement that at 6:00 am on Sunday, passengers will be received on the Orange Line at the following five stations: Jeddah Road Station, Tuwaiq Station, Douh Station, Harun Al-Rashid Road Station, and Al-Naseem Station, which is one of the transfer stations that connects the Orange Line and the Purple Line. The commission also announced the operation of three new stations on the Blue Line that connects the Olaya Street to Batha and these are Al-Morooj Station, Bank Al-Bilad Station, and King Fahd Library Station. Three lines that started operations in the initial phase on Dec. 1 were the 1st line (Blue Line); 4th line (Yellow Line); and the 6th line (Purple Line). In the second phase, two more lines — Line 2 (Red Line) and Line 5 (Green Line) — became operational on Dec. 15.
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Cristiano Ronaldo Talks Life In Saudi Arabia, Growth Of Saudi Pro League
Since Ronaldo's arrival in the SPL, the league has grown leaps and bounds. Players like Karim Benzema, Neymar, Riyad Mahrez, Sadio Mane, and more are now in the SPL. Cristiano Ronaldo said about the growth: For me, it is an honour that the league is growing and many star players are coming to make the league even better and more competitive. To be the first one -- let's say a star -- to come here is an honour, but what I'm looking forward to is the next five to 10 years of the league still improving. Not only the first teams, but also the academies.
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Major Saudi Food Company Exits Iran After 20 Years
The Saudi Arabian group SAVOLA has sold all its assets in Iran for 705 million Saudi riyals (approximately $188 million) and is exiting the country. SAVOLA, the largest Saudi investor in Iran, had invested in the production of cooking oils, including the brands Ladan, Bahar, and Nastaran. SAVOLA Food Company in Iran, a subsidiary of the larger SAVOLA Group, was engaged not only in the production and distribution of edible oils but also in seafood, industrial bread, and confectionery products. Iranian media outlets, including 7sobh, have speculated that the decision to sell and exit the country is linked to Donald Trump‘s re-election in the U.S. and his impending return to office. However, according to a statement issued by SAVOLA Group on Wednesday, January 1, the company’s withdrawal from Iran was “in line with the group’s strategy to exit non-core markets at the right time.”
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Milan star thanks Saudi fans for inspiring Supercoppa comeback
Milan forward Tammy Abraham has hailed the impact of the support in Riyadh as his side booked their place in the Supercoppa Italiana final. The Englishman and his teammates trailed Juventus 1-0 in the closing stages before a Christian Pulisic penalty and bizarre own goal turned the contest on its head. Following the fightback, Milan's reward for victory in coach Sergio Conceição's first game in charge is a final against Inter with Supercoppa glory at stake in Saudi Arabia. "Thank to you everyone who came to watch the game and supported us today. It was a beautiful atmosphere in a beautiful country, a beautiful support," Abraham said afterwards.
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Iran FM says ties with Saudi Arabia are progressing despite gradual pace
Speaking in an interview with China Media Group (CMG), Araghchi said that the newly restored Iranian-Saudi ties have a lot of potential that haven’t been exploited yet. The interview was conducted late last month in Beijing, but was aired on January 4. Araghchi added that the biggest achievement was reaching the decision to revive the relations that remained frozen for years, adding that both sides have benefited from the revival of ties.
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‘Next Saudi Generation Program’ Launched to Support Saudi Talent in Motorsports
The Saudi Automobile and Motorcycle Federation (SAMF) has launched the Next Saudi Generation Program to support and develop Saudi talent in motorsports. The program, conducted in collaboration with the Saudi Motorsport Company and under the supervision of the Ministry of Sport, aims to empower Saudi youth and provide opportunities for future champions—both men and women—to explore rally racing and integrate into the world of motorsports. As part of this initiative, five drivers and their co-drivers were selected: Fahd Al-Marmash with co-driver Hossam Al-Zahrani, Hamza Bakhshab with co-driver Fahd Al-Omar, Abdullah Al-Shaqawi with co-driver Raed Al-Assaf, Merihan Al-Baz with co-driver Waleed Al-Sheqawi, and Fatima Banaz. These participants will compete for the first time in the Saudi Rally 2025, the Kingdom’s most prestigious and challenging motorsports event, hosted by Saudi Arabia for the sixth consecutive year. The selection of these competitors occurred during the Qassim Rally, a key round of the Saudi Rally Championship.
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How Artificial Intelligence Will Affect Asia’s Economies
Asia-Pacific’s economies are likely to experience labor market shifts because of artificial intelligence, with advanced economies being affected more. About half of all jobs in the region’s advanced economies are exposed to AI, compared to only about a quarter in emerging market and developing economies. However, as we show in our latest Asia-Pacific Regional Economic Outlook, there are also more jobs in the region’s advanced economies that can be complemented by AI, meaning that the technology will likely enhance productivity rather than replace these roles altogether. The concentration of such jobs in Asia’s advanced economies could worsen inequality between countries over time. While about 40 percent of jobs in Singapore are rated as highly complementary to AI, the share is just 3 percent in Laos.
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In a year, Saudi gifted students get 107 global awards, with over 582,000 students competing nationally.
Saudi Arabia's national teams who competed in international science and academic contests had tremendous success, winning 107 global awards across 25 events held between September 2023 and September 2024. This milestone brings the Kingdom's total, as represented by King Abdulaziz and his Companions Foundation for Giftedness and Creativity (Mawhiba), to 842 global awards. Domestically, over 582,000 students participated in national competitions organized by Mawhiba during the same period. A Mawhiba report, released in conjunction with the Saudi National Day, revealed that 37,720 students took part in the Mawhoob Competition, while 42,702 students joined the Kangaroo Mawhiba Math Competition. Additionally, 32,094 students participated in the Bebras Mawhiba for Informatics, and the National Olympiad for Programming and AI (ATHKA) attracted 260,308 participants.
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