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Oil Approaches Prices Not Seen Since Start of Pandemic as Optimism on Vaccines, U.S. Stimulus Drives Prices
- December 18,2020
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- SUSTG Team
Oil reached its highest close in almost 10 months as U.S. lawmakers worked toward finalizing a stimulus deal that may boost near-term demand ahead of a broad roll-out of the Covid-19 vaccine. Futures in New York were near $48.50, headed for a seventh weekly gain, Bloomberg reports.
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Saudi-Owned Lucid Motors Completes Phase 1 of Arizona Factory Build, Eyes 2021 Production
- December 8,2020
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- SUSTG Team
Saudi-owned Lucid Motors, a forthcoming EV rival to Tesla, announced that it completed the first phase of construction at its factory in Arizona, eying production of up to 400,000 electric cars per year at the facility after future expansions. Lucid completed the first phase of construction of its factory in Casa Grande, Arizona, and is aiming to start […]
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Saudi Prince Turki al-Faisal Offers Harsh Criticism of Israel at the Manama Dialogue Summit
- December 7,2020
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- SUSTG Team
Saudi Arabia’s Prince Turki al-Faisal harshly criticized Israel on Sunday at the Manama Dialogue summit that was remotely attended by Israel’s foreign minister, demonstrating the chasm that still exists between the two nations as reports claim that a deal to establish diplomatic ties may happen soon.
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Saudi Aramco, Shell & AMG Recycling B.V. Sign Agreement to ‘Maximize Value of Natural Resources’ in Kingdom
- December 2,2020
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- SUSTG Team
Saudi Aramco and Amsterdam-based Shell & AMG Recycling B.V. signed a memorandum of understanding this week to “evaluate the feasibility of creating a venture in support of Saudi Arabia’s vision to maximize value from its vast natural resources,” the companies said in a press release this week. The two companies will explore the potential ability for Saudi Aramco to […]
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Saudi Arabia Hosts First G20 in Middle East; Leaders Pledge Collective Action on Coronavirus
- November 23,2020
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- SUSTG Team
Leaders of the G20 nations, the world’s largest economies, concluded their two-day virtual summit this weekend hosted by Saudi Arabia offering pledges to cooperate on the Coronavirus pandemic, the global economic recovery, energy and climate change, and women’s empowerment. The nations succeeded in sending a message of “hope and reassurance to their citizens and the global community,” Saudi […]
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Road to the G20: G20 Leader’s Summit Publication Released Ahead of Virtual 2020 Summit
- November 20,2020
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- SUSTG Team
Organizers of the G20 in Riyadh released the summit’s Annual Publication ahead of the G20 leadership summit, beginning tomorrow and taking place virtually due to the Coronavirus pandemic. Saudi Arabia as host has prioritized empowering people, safeguarding the planet and shaping new frontiers as themes for this year’s event, the first G20 to be chaired by a nation […]
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Road to the G20: Saudi Arabia Set to Host Main Leaders’ Summit this Weekend
- November 19,2020
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- SUSTG Team
Saudi Arabia is set to host the G20 Leaders Summit this weekend, the main event involving the heads of the 20 nations chaired virtually by the Kingdom due to the Coronavirus pandemic.
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Saudi Arabia’s Public Investment Fund Eyes Pivot to Domestic Investments in 2021 and Beyond
- November 17,2020
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- SUSTG Team
After investing billions in equities in the United States and elsewhere overseas, Saudi Arabia’s Public Investment Fund (PIF) is turning its focus to domestic investments in the Kingdom in 2021 and beyond, Bloomberg reports, citing comments from Crown Prince Mohammed bin Salman.
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‘We are Expanding our Library of Saudi Content’: Netflix Signs Multi-Picture Deal with Saudi Arabia’s Telfaz11 Studios
- November 12,2020
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- SUSTG Team
Netflix has announced a partnership with Saudi Arabian digital media studio Telfaz11 to produce eight new feature films, Variety reports, an expansion of the media powerhouse’s interest in Saudi Arabia’s budding creators and growing entertainment market. According to Variety, the deal segues from the two companies’ previous collaboration on the short film collection “Six Windows in […]
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Saudi Arabia Announces Planned Reforms to Expatriate Labor System, in Place for Seven Decades
- November 5,2020
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- SUSTG Team
Saudi Arabia on Wednesday announced plans to abolish the seven-decade-old labor sponsorship system known as “kafala” in the Kingdom, a step forward for the country’s modernization drive and economic reform plans, according to reports.
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MUST-READS
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Turkey elections: Erdogan defeats Kilicdaroglu and secures five more years in power
Recep Tayyip Erdogan eased to a third term as Turkish president on Sunday, defeating his rival Kemal Kilicdaroglu in a closely watched run-off election. With preliminary results putting Erdogan on 52 percent to Kilicdaroglu's 48, the leader of the ruling Justice and Development Party (AKP) greeted a crowd of supporters in Istanbul. "The winner of this election is all the 85 million-strong Turkish nation," Erdogan said, adding that he had been given responsibility to rule for the next five years.
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MCIT inks partnership with PepsiCo and AstroLabs to empower over 100 Saudi entrepreneurs
PepsiCo — one of the leading global food and beverage manufacturers — celebrated the success of its ‘Scale Up Accelerator’ program. Showcasing the achievements of the program’s participants, the event spotlighted the growth of entrepreneurship in the Kingdom, calling attention to Saudi Arabia’s development as a thriving SME hub.
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Saudi Film Commission Empowers Emerging Talent With Support Programs
With original content and fresh storytelling, Saudi Arabia’s local breakthrough talent are smashing box office records and driving a new wave of Saudi cinema. The kingdom now boasts a developing ecosystem, state-of-the-art film facilities and financial incentives, empowering Saudi creatives to capitalize on these unprecedented support systems and make films that are finding audiences, acclaim and commercial success.
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PIF’s Wholly-owned Company Badeel and ACWA Power Invest SAR
These projects intend to produce a combined capacity of 4.55GWac of renewable energy, powering approximately 750,000 households. The Ar Rass 2, Saad 2 and Al Kahfah projects have a capacity of approximately 2,000MWac, 1,125MWac and 1,425MWac of renewable power respectively, with a combined value of SAR12.2 billion (US$3.25 billion). Financial close for these projects is expected by the third quarter of 2023.
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Dani Speegle to champion women empowerment at first Saudi Arabia Sports Expo
With CrossFit as her platform, Dani has been on a mission to make a positive impact beyond the sport – having also recently launched her "Girls Who Eat" campaign. Her call to change the narrative on women, including outdated beauty standards and old notions of what they're capable of in athletics and in life, has garnered international support.
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Analysis: Saudi Arabia’s diplomatic energy, soft power in Sudan
The diplomatic energy Saudi Arabia is putting into deescalating the Sudanese crisis must be understood within the context of Riyadh’s interests. Analysts say that the kingdom has nothing to gain from instability in Sudan, which can drive a refugee crisis and create new opportunities for armed groups. Turmoil in Sudan could also harm Saudi Arabia’s Vision 2030 agenda, especially given its plans for NEOM – a zero-carbon smart city project – and tourist attractions on its Red Sea coast. Sudan is also an important investment destination for Saudi Arabia, particularly with respect to the kingdom’s food security strategies.
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Heavy fighting in Khartoum as power struggle rages
Fierce fighting could be heard in central Khartoum on Thursday as the army tried to push back the paramilitary Rapid Support Forces (RSF) from areas around the presidential palace and army headquarters, with a lasting ceasefire appearing elusive. Each side appears to be battling for control of territory in the capital ahead of any possible negotiations, though the leaders of both factions have shown little public willingness to hold talks after more than two weeks of fighting.
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Floating wind power gains traction but can it set sail?
About 80% of the world's offshore wind power potential lies in waters deeper than 60 metres, according to the Global Wind Energy Council (GWEC), meaning floating turbines will be vital for some countries with little space left on land and steep coastal shelves to decarbonise their power sectors. Winds are stronger and more continuous further out to sea so floating turbines can generate more power than those fixed to the seabed near to shore - and they less visible from the coast, reducing the risk of resistance from local communities.
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Saudi Arabia’s Soft Power Outshines Iran’s
Across 13 Muslim-majority countries stretching from Morocco to Pakistan, median approval of Saudi Arabia’s leadership in 2022 was substantially higher than Iran’s leadership (39% vs. 14%, respectively).
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Saudi Arabia’s Soft Power Outshines Iran’s
Across 13 Muslim-majority countries stretching from Morocco to Pakistan, median approval of Saudi Arabia’s leadership in 2022 was substantially higher than Iran’s leadership (39% vs. 14%, respectively).
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