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Recent stories from sustg
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PIF to List an Additional 10% of Saudi Stock Exchange; Investors Put in All Orders Within an Hour
Saudi Arabia’s Public Investment Fund is selling an additional 10% stake in the kingdom’s stock exchange, the Tadawul, “pushing ahead with plans to reduce its holdings in some of the country’s biggest companies and raise funds for investments,” Bloomberg reports.
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Saudi Arabia Evaluating Financing Options for NEOM, Hires New York-Based Lazard Ltd.
Saudi Arabia is evaluating financing options to develop NEOM, working with New York-based Lazard Ltd. to develop plans to potentially include debt sales and an initial public offering on the Saudi stock exchange for the high-tech city, people familiar with the matter told Bloomberg.
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In announcement, PIF to launch 5 regional investment firms to draw $24 billion
Crown Prince Mohammed bin Salman announced Wednesday that the kingdom’s Public Investment Fund (PIF) would launch five new investment firms in countries around the Middle East, targeting regional growth for the fund, according to reports and a release from the PIF.
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Dr. Abdulaziz Alanazi discusses his recent international water prize win, a changing Riyadh, and more — The 966 E. 61
Episode 61! The 966 welcomes Dr. Abdulaziz Alanazi, assistant professor at King Saud University in Riyadh, who discusses his work that recently won a very prestigious international water award. Before that, the hosts discuss governance in Saudi Arabia, a changing Riyadh, and an update on LIV golf’s recent moves with the MENA tour. The hosts […]
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Jadwa Investment October 2022 Chartbook: Non-Oil PMI Sees Significant Rise in August
Saudi Arabia’s economy continues its streak of growth with positive data points in key areas like non-oil PMI, consumer spending, business activity and new work, according to the latest monthly chartbook released by Jadwa Investment.
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Saudi National Day, Significant Traction in Airline/Travel Reforms, Saudi-Greece Relations, and more – The 966 Episode 60
Episode 60! The 966 wishes everyone a fun and safe Saudi National Day. This week, the hosts re-connect after a two week hiatus for the 60th episode of the show. First, the hosts discuss Richard’s one big thing, which is a deep dive on Saudi-Greece relations of late and why that bilateral relation is one […]
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Saudi Arabia Launches Astronaut Program with Plans for First Female Astronaut, SPA Says
Saudi Arabia has launched an astronaut program, the state news agency SPA reported on Thursday, with the first journey to space set for 2023 carrying the country’s first female astronaut.
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Global migration trends, big cat conservation in Saudi Arabia, the new Saudi companies law and more!
Episode 59! The hosts talk about a newly-released and interesting UN report on global migration trends, big cat and other endangered species conservation in Saudi Arabia, and much more in the program’s finishing Yallah! segment. Programming note: The 966 will return next week with a featured interview, then be back in full swing as September […]
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The music industry in Saudi Arabia and more with Ahmed Shawly and Mostafa Fahmy from Jeddah’s ‘Wall of Sound’ Record Label
Episode 56! The 966 welcomes Ahmed Shawly and Mostafa Fahmy from the Jeddah-based Wall of Sound record label and recording studio to talk about the young and growing music industry in Saudi Arabia, their entrepreneurial journey building the business from the ground up in a new industry with a blend of established and new, indie […]
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Saudi Technology Ventures Report Sees 45 New MENA Unicorns in the Next Eight Years
The MENA region is set to witness the birth of more than 45 unicorns in the next eight years, with an estimated total equity value to reach more than $100 billion, according to a new Saudi Technology Ventures (STV) report.
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MUST-READS
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Virgin Atlantic Reviews ‘Gender Neutral’ Policy for New Saudi Route
In recent years, the airline has been proactive in its diversity messaging. The airline’s Gender Identity Policy, published in 2022, allows cabin crew, pilots, and ground personnel to choose which uniform best represents them. This is irrespective of their gender, gender identity, or gender expression. At the time, Virgin said the move “cements its position as the most inclusive airline in the skies.”
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Al-Ittihad sign Netherlands winger Bergwijn from Ajax
Saudi Arabia’s Al-Ittihad Football Club have signed winger Steven Bergwijn from Ajax Amsterdam FC, both clubs said on Monday. The Saudi Pro League side will pay more than €21 million ($23.25m) for the 26-year-old, whose contract with the Dutch club was valid until June 2027, said Ajax.
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Flow House brings surfing sights to Saudi Arabia
The Flow House concept will include indoor surfing experiences that are open throughout the year. The experiences will include flowboarding sessions and competitions, and it will welcome amateur as well as professionals. The experience draws inspiration from tropical islands, and will include live music and a restaurant overlooking the water. Plus, the menu will include plant-based and vegan options.
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U.S.-Saudi Business Council Announces New CEO
Mr. Hallab is a long-standing member of the Board of Directors of the Council and the founder of Barrington Global, an international legal and strategic advisory firm focused on the intersection of law, business and policy between the Middle East and the West. Mr. Hallab previously served as Chair of the Middle East Practice at the global law firm of Mayer Brown and in multiple leadership roles both at Mayer Brown and at the international law firm of Baker McKenzie.
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Ângelo Gabriel moves to Saudi one year after joining Chelsea
The unlikely career arc of Brazilian teenager Ângelo Gabriel continued when he completed a move to Saudi team Al Nassr in a reported $25 million deal on Tuesday, a year after joining Chelsea from Santos.
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Saudi Arabia sees ‘unprecedented’ progress in economic transformation: IMF
“Saudi Arabia’s unprecedented economic transformation is progressing well as it advanced in its modernization and diversification efforts under Vision 2030,” the fund wrote in its press release. “The recent fiscal space exercise has facilitated the recalibration of investment spending planned under Vision 2030 by reprioritizing projects and through sectoral strategies.”
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Saudi podcast episode breaks record with 110m YouTube views
A Saudi Arabian podcast episode titled Secrets to Thriving Relationships, produced by Thmanyah, has set a new Guinness World Record for the most-viewed podcast episode on YouTube, amassing 110m views. This achievement surpasses the previous record held by Joe Rogan’s interview with Elon Musk, which garnered 68m views over five years.
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Mubadala-backed Tabby prepares for Saudi IPO
Tabby, the buy-now-pay-later startup backed by Abu Dhabi sovereign wealth fund Mubadala, is on track to prepare for its initial public offering, the company’s CEO confirmed on Wednesday. The fintech unicorn – a startup worth more than $1 billion – was originally founded in the UAE but is now headquartered in Saudi Arabia. It is expected to list on the Saudi Tadawul stock exchange, although no date for the offering has been confirmed. Tabby achieved unicorn status last year, reaching a valuation of over $1.5 billion after securing $200 million in a Series D funding round.
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How the U.S. used arms sales to shift Saudi behavior
Arms sales are a fickle tool in the toolbox of American foreign policy. The results are almost always a mixed bag for Washington. One historical study of arms sales and the Cold War, for instance, found that efforts to use weapons transfers to influence other countries “succeeded slightly less than half of the time.”
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Saudi Arabia suspends fees for hotels, resorts commercial licenses
The move is part of the ongoing efforts to facilitate municipal procedures and services in Saudi cities, aimed at developing the tourism sector and raising the quality of tourism services for citizens, residents and tourists. It will further provide an attractive investment environment for investors and enhance competitiveness in the sector, Saudi Press Agency (SPA) reported.
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