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Saudi Technology Ventures Report Sees 45 New MENA Unicorns in the Next Eight Years
- August 10,2022
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- SUSTG Team
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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Saudi Ministry of Investment Releases Q2 Investment Highlights Report; 49 Closed Investment Deals Worth More Than $925m Inked
- August 8,2022
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- SUSTG Team
Saudi Arabia’s Ministry of Investment (MISA) released its 2Q 2022 Investment Highlights report, which touts over $925 million in investment deals in the second quarter of this year.
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Eyad Albayouk from Flat6Labs talks Saudi VC and KSA’s startup ecosystem, reacting to the unveiling of The Line at NEOM and more
- July 29,2022
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- SUSTG Team
Episode 54! The 966 talks with Eyad Albayouk from the VC firm Flat6Labs KSA. Eyad chats with us about Saudi Arabia’s growing startup ecosystem and entrepreneurship in the Kingdom, and the state of Saudi VC in 2022 as the Kingdom ramps up Vision 2030 execution. Before the interview, the hosts discuss the recently announced megaproject, […]
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Saudi Oil Exports Jump 106% Year-on-Year to Over $30 Billion in May 2022; US Sees Room for More Saudi, UAE Production
- July 28,2022
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- SUSTG Team
Saudi Arabia’s oil exports jumped 106 percent, reaching SR116 billion ($30 billion) during the month of May 2022 while compared to the same period last year, according to the latest report published by the General Authority for Statistics (GASTAT), released on Monday.
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Report: Saudi Arabia Plans Air Cargo Roadshows to Boost Distribution, Logistics Sector
- July 20,2022
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- SUSTG Team
Saudi Arabia plans to stage a number of roadshows in the next 12 to 18 months “as it seeks to persuade the likes of Amazon.com Inc., Alibaba Group Holding Ltd. and Deutsche Post AG’s DHL to help scale up air-cargo and distribution operations,” Bloomberg reports.
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Saudi Arabia’s King Salman Allocates $5.3 Billion in Inflation Relief Aid
- July 7,2022
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- SUSTG Team
Saudi King Salman bin Abdulaziz Al Saud issued a royal decree this week ordering the allocation of SR20 billion ($5.33 billion) in financial support to tackle the effects of the rising global prices and inflation.
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United Nations Recognizes Saudi Arabia’s Tawakkalna App with Public Service Award for 2022
- June 28,2022
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- SUSTG Team
Saudi Arabia’s game-changing Tawakkalna app has been awarded the United Nations Public Service Award 2022 for institutional resilience and innovative responses to the COVID-19 pandemic, Arab News and the Saudi Press Agency reported. The award was given to Dr. Abdullah bin Sharaf Alghamdi, President of the Saudi Data and AI Authority (SDAIA), at an annual forum that recognizes distinguished […]
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New Report Places Saudi Arabia at Seventh Most Competitive Economy Among G20 Countries
- June 15,2022
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- SUSTG Team
A new report published by the Switzerland-based International Institute for Management Development (IMD) said that Saudi Arabia ranked as the seventh most competitive economy among G20 countries in the organization’s publication, the World Competitiveness Yearbook 2022.
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A conversation with Mark Thompson and Neil Quilliam on their new book on Saudi Arabia, reacting to the latest with LIV Golf, and more
- June 10,2022
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- SUSTG Team
In episode 47, the hosts welcome on Dr. Mark Thompson and Dr. Neil Quilliam, authors of a new book on Saudi Arabia’s governance and policymaking, for a fascinating discussion on how decision-making is changing and evolving at all levels in Saudi Arabia as Vision 2030 continues apace.
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President Biden Praises ‘Courageous Leadership’ in Saudi Arabia over Yemen Truce; Plans June Visit
- June 2,2022
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- SUSTG Team
President Joe Biden praised Saudi Arabia’s “courageous leadership” on brokering and then leading the way to extend a U.N.-brokered ceasefire on Thursday between Yemen’s warring parties, according to reports. The comments come as President Biden reportedly is likely to visit the Kingdom this month.
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MUST-READS
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The Emirati defense gambit in Brazil
Already the largest trade counterpart of the United Arab Emirates (UAE) in South America, Brazil is emerging as a key security partner and a promising destination for Abu Dhabi's defense industry and arms exports. This trend has been epitomized in the recent letter of intent signed between the Emirati EDGE Group and the Management and Operational Centre of the Amazon Protection System (CENSIPAM).
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Saudi delegation led by Royal Court advisor meets with Syria’s Al-Sharaa
A Saudi delegation headed by an advisor from the Royal Court met with the head of the new Syrian administration, Ahmed Al-Sharaa, at the People’s Palace in Syria on Sunday, according to an Al Arabiya report. Earlier this week, Al-Sharaa praised progress made by Saudi Arabia and neighboring Gulf countries in an interview with Asharq Al-Awsat. “We admire the development in Gulf countries, particularly Saudi Arabia’s bold plans and vision, and we aspire to achieve similar progress for Syria,” he told the newspaper’s Bissane El-Cheikh during an interview the the Presidential Palace in Damascus. “There are many opportunities for cooperation, especially in economic and developmental areas, where we can align our goals,” he added.
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As Iran’s top council pauses new hijab law, some warn of ‘tyranny’
The implementation of a controversial new law which mandates stricter enforcement of the Islamic dress code has been put on hold by Iran’s Supreme National Security Council (SNSC). The move—which has raised eyebrows—comes after widespread criticism of the legislation. Many have credited Reformist President Masoud Pezeshkian, who chairs the top decision-making council, for the feat. At the same time, the maneuver has raised questions among critics who say it makes a mockery of the legislative process in Iran.
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Deception and Betrayal: Inside the Final Days of the Assad Regime
As rebels advanced toward the Syrian capital of Damascus on Dec. 7, the staff in the hilltop Presidential Palace prepared for a speech they hoped would lead to a peaceful end to the 13-year civil war. Aides to President Bashar al-Assad were brainstorming messaging ideas. A film crew had set up cameras and lights nearby. Syria’s state-run television station was ready to broadcast the finished product: an address by Mr. al-Assad announcing a plan to share power with members of the political opposition, according to three people who were involved in the preparation. Working from the palace, Mr. al-Assad, who had wielded fear and force to maintain his authoritarian rule over Syria for more than two decades, had betrayed no sense of alarm to his staff, according to a palace insider whose office was near the president’s. The capital’s defenses had been bolstered, Mr. al-Assad’s aides were told, including by the powerful 4th Armored Division of the Syrian Army, led by the president’s brother Maher al-Assad, the insider said.
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Saudi imports from GCC hit $4.36B in Q3 2024
Saudi Arabia’s imports from GCC countries fell 14% year-on-year (YoY) to SAR 16.4 billion in Q3 2024, according to a recent report by the General Authority for Statistics (GASTAT). Imports from the UAE declined by 22% YoY to SAR 9.7 billion, accounting for 59% of total Saudi imports. Bahrain came second, with about SAR 2.9 billion, followed by Oman with SAR 2.5 billion.
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Germany’s attack suspect reportedly offered reward to target Saudi ambassador
The arrested suspect in the deadly car-ramming attack at a Christmas market in the German city of Magdeburg had plans to target Saudi ambassador to Germany, according to media reports. A Saudi source told "Independent Arabia" newspaper that Talib Al-Abdul Mohsen, the suspect, had offered a reward of SR10,000 to anyone who provides information about the location of Saudi ambassador's residence and time of his presence at residence. The Saudi embassy passed this information to the German authorities but they did not take the matter seriously, the newspaper reported.
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Saudi Arabia announces resumption of embassy operations in Kabul
Saudi Arabia announced on Sunday the resumption of operations of its diplomatic mission in the Afghan capital, Kabul, more than three years after withdrawing its diplomats from the country amid the chaos that accompanied the Taliban's rise to power. "Based on the keenness of the government of the Kingdom of Saudi Arabia to provide all services to the brotherly Afghan people, it has been decided to resume the activities of the Kingdom's mission in Kabul as of December 22, 2024," the Saudi embassy in Kabul said on X. In November 2021, Saudi Arabia announced the resumption of consular services in Afghanistan, where the Saudi Humanitarian Aid and Relief Center (KSRelief) is providing humanitarian aid. Saudi Arabia is one of three countries, along with the United Arab Emirates and Pakistan, to recognize the former Taliban government, which was overthrown in the U.S. invasion in 2001.
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Saudi Arabia invests in robots to help build its Neom desert megacity
"Having worked in the rebar industry in various forms for the past 30 years, it is very exciting to reach a point where the large-scale adoption of robotics and automation to improve the rebar process is happening," explains Ulrich Deichmann, CEO of GMT Robotics. "We share in Neom's ambition to rethink how construction is delivered and look forward to a highly successful partnership that will help revolutionize the construction industry. The benefits of robotics application within the construction sector are numerous. They include boosting task efficiency, reducing operating costs, improving health and safety, and optimizing design flexibility."
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Saudi warnings about market attack suspect were ignored
The Saudi authorities, I am told, are currently working flat out to collate everything they have on the Magdeburg market suspect, Taleb al-Abdulmohsen, and to share it with Germany's ongoing investigation "in every way possible". Inside the imposing sand coloured and fortress-like walls of the Saudi Ministry of Foreign Affairs in Riyadh there is a perhaps justifiable sense of pique. The ministry previously warned the German government about al-Abdulmohsen's extremist views. It sent four so-called "Notes Verbal", three of them to Germany's intelligence agencies and one to the foreign ministry in Berlin. There was, the Saudis say, no response.
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Suspect in German Christmas market attack had history of troubling social media posts that grew increasingly dark
The man accused of killing five people and injuring more than 200 others by ramming a car into a crowded German Christmas market had a history of making anti-Islam statements, which had grown increasingly dark and threatening towards Germany in recent months. The suspect, Taleb Al Abdulmohsen, was arrested at the scene of the deadly attack in Magdenburg on Friday. German authorities said they believe he acted alone. A Saudi Arabian citizen, the 50-year-old psychiatrist came to Germany in 2006. Once settled in the country, he began sharing advice online with other people about how to escape repressive regimes in Saudi Arabia and other Gulf states, setting up the platform wearesaudis.net.
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