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  • Saudi Arabia’s Vision 2030 Projects Reach $1.3 Trillion in Value

    Saudi Arabia has launched $1.3 trillion in real estate and infrastructure projects over the past eight years as part of its plan to diversify the economy away from oil and become a more attractive place to live, work and travel. About $164 billion worth of real estate contracts have been awarded since 2016, when Saudi Crown Prince Mohammed bin Salman unveiled his strategy to wean the country off its dependence on petrodollars and improve the quality of life for locals.

  • Saudi Arabia’s Economic Growth Defies Regional Instability

    The report says that Saudi oil exports are not dependent on the Red Sea, where Iran-backed Houthis have targeted commercial ships, in what they say is in solidarity with Palestinians in Gaza. Likewise, Saudi Arabia’s tourism numbers "remain strong". In general, the IMF painted a rosy picture of Saudi Arabia’s economy, with a strong banking system, growing home ownership and "robust" non-oil economic growth. The report underscores the divergence between Gulf economies and those of poorer states like Egypt, Lebanon and Jordan, whose already weak economies have been battered by Israel’s war.

  • Riyadh’s inaugural FinTech 24 conference attracts over 37,000 visitors

    The event was hosted by the Financial Sector Development Program, Saudi Central Bank (SAMA), Capital Market Authority, and Insurance Authority, and jointly organized by Fintech Saudi and Alliance, a venture between the Federation for Cybersecurity, Programming and Drones, Informa Global, and the Investment Events Fund.

  • Saudi Arabia’s NEOM Green Hydrogen Plant launches mass recruitment drive

    NEOM Green Hydrogen Company (NGHC) has initiated a major recruitment campaign for its world-leading green hydrogen plant in Saudi Arabia’s futuristic city NEOM, as the project moves closer to its operational phase. The $8.4 billion facility, set to be the world’s largest green hydrogen production plant, is progressing on schedule for full operations by the end of 2026. The project aims to produce up to 600 tonnes of carbon-free hydrogen daily, potentially eliminating five million tonnes of CO2 emissions annually

  • Saudi PIF spending to reach $70b a year early

    Saudi Arabia’s Public Investment Fund (PIF) is set to increase its annual spending to $70 billion (Dh257 billion) by 2025, a year ahead of its earlier schedule, according to the International Monetary Fund (IMF). PIF’s governor Yasir Al Rumayyan announced at a Saudi investment summit that the fund planned to boost its annual capital expenditures from approximately $50 billion (Dh183 billion) to $70 billion (Dh257 billion) starting in 2026.

  • Saudi Arabia invites Chinese companies to invest in key industrial sector

    Minister of Industry and Mineral Resources Bandar Al-Khorayef has invited Chinese companies to invest in promising industrial sectors identified in Saudi Arabia’s National Industrial Strategy, including automotive, food, pharmaceutical, and aviation industries. The invitation was extended during a roundtable meeting organized by the Federation of Chambers of Commerce in Guangzhou as part of Al-Khorayef’s official visit to China.

  • Saudi Film Pioneer Faisal Baltyuor Launches First Arthouse Cinema in Riyadh

    Saudi Arabian film industry pioneer Faisal Baltyuor is opening the first arthouse cinema in Riyadh in what amounts to a milestone in the kingdom’s moviegoing trajectory ever since Saudi lifted its 35-year ban on cinema in late 2017. The plush state-of-the-art 80-seat venue, called Cinehouse, is set to open in the Saudi capital later this month.

  • Saudi players arrive in China ahead of World Cup qualifier

    The Saudi national team arrived in the Chinese city of Dalian on Friday ahead of their World Cup qualifier there next week. The Green Falcons will face China on Tuesday night at the Dalian Suoyuwan Football Stadium, in the second game of the third round of the Asian qualifiers for the 2026 World Cup.

  • Saudi Arabian Military Industries Announces Retirement of CEO, Names Interim Chief

    Abukhaled took over as chief of the Saudi defense business in 2020, succeeding Andrew Schwer, a German national and former executive at Rheinmetall. Before leading SAMI, Abukhaled was CEO of the Middle East unit of Northrop Grumman. Under his leadership, SAMI underwent significant expansion and growth, acquiring several businesses, including Advanced Electronics Company and Alsalam Aerospace. He also led efforts to seal joint ventures and contracts, the most recent being a $3 billion deal with Turkish Baykar to produce Akinci drones in Saudi Arabia.

  • Saudi Arabia’s Public Investment Fund to transfer its gaming stock to Savvy Games Group

    Saudi Arabia's Public Investment Fund is set to transfer its games-related stock to its subsidiary Savvy Games Group. The move could happen as early as 2025, according to a Savvy representative talking to Nikkei, with the initiative part of a wider plan to leverage IP across the Middle East, the Japanese publication reported.