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Recent stories from sustg
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Saudi Arabia Detects First Omicron Variant, Launches Health Probe
Saudi Arabia has reported the country’s first positive case of the omicron COVID-19 variant, and has launched a “epidemiological investigation,” according to reports.
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All Eyes on OPEC+ Meeting Thursday with Omicron Variant Looming Over Demand
The OPEC+ group of oil-producing nations is set to meet Thursday December 2nd to decide whether to stick with their plan to increase monthly oil output by 400,000 barrels a day in January, according to reports.
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Saudi Arabia to Invest $64 Billion in Entertainment Sector – Report
Saudi Arabia said it will invest $64 billion in its entertainment industry as part of its ongoing efforts to diversify its economy, according to reports.
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Saudi Arabia Seeks to Host World’s Fair in 2030
Saudi Arabia intends to submit a bid to host the Expo 2030 world fair, Saudi Crown Prince Mohammed bin Salman said on Friday, as the Kingdom continues to open itself up to the world and diversify its economy.
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Future Investment Initiative (FII) Kicks Off 5th Annual Summit with Focus on Climate, Humanity, Energy
The first day of the Future Investment Initiative (FII) conference kicked off this morning in Riyadh with a focus on investing in humanity, sustainability, and impactful investing. The FII comes just a day after the Saudi Green Initiative and Middle East Green Initiative Launch Events that concluded yesterday in the Saudi capital.
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Saudi Arabia Joins Global Community with Pledge to Achieve Net Zero Emissions by 2060
Saudi Arabia’s Crown Prince Mohammed bin Salman announced on Saturday at the Saudi Green Initiative (SGI) event that the world’s top oil exporter aims to reach “net zero” emissions of greenhouse gases, mostly produced by burning fossil fuels, by 2060, according to reports.
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Saudi Arabia’s Nayifat Finance Company Latest to Announce IPO Plans on Surging Tadawul
Saudi Arabia’s Nayifat Finance Company said on Tuesday it plans an initial public offering (IPO) on the Riyadh stock exchange with a free float of 35% of its shares, according to a Reuters report. Nayifat, a consumer-focused Islamic finance firm, said in a statement that it plans a sale of 35 million shares to institutional […]
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Saudi Arabia Adjusts Fiscal Outlook for 2022, Jadwa Investment Sees ‘Conservative’ Approach by Saudi Ministry of Finance
Saudi authorities released a preliminary budget statement for the 2022 fiscal year on 30th September 2021, and some fiscal and economic indicators were revised for the medium term. According to a report and analysis by Jadwa Investment, the main adjustment to Saudi Arabia’s fiscal outlook “relates to government revenue, with the upward revision to revenue from 2022 […]
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Residential Mortgages Soar in Saudi Arabia; Commercial Rents in Riyadh See Post-Pandemic Recovery
Roughly five years after the launch of the Kingdom’s National Transformation Plan (NTP), a key part of the Saudi Arabia’s Vision 2030 social and economic masterplan, Saudi is seeing major initial progress in the real estate sector, with new residential mortgages soaring 1000% since 2016, according to a report from industry powerhouse KnightFrank.
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‘Massive’ Coral Colony Discovered on Saudi Arabia’s Al-Waqadi Island is First in Region
A team of marine scientists and environment experts working for the Red Sea Development Company found a massive and unique coral reef south of Al-Waqadi Island off of Saudi Arabia’s coastline, Arab News and the Saudi Press Agency report.
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MUST-READS
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How Swizz Beatz Climbed to the Top of Saudi Arabia’s Camel Racing Scene
He now travels to Saudi Arabia so often that he considers it a second home. He is a co-founder of a roller-skating rink in the desert retreat of AlUla, where the camel race was held, and keeps an apartment in the capital, Riyadh; a few years ago, he was granted Saudi citizenship.
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Saudi Arabia Tops Edelman’s Trust Index for National Leadership
Saudi Arabia has topped the global trust rankings in Edelman’s 2024 Annual Trust Barometer. The report from the global consulting and PR firm shows that 86% of Saudi citizens trust their government to make key decisions for the country’s goals. The 24th edition of the report also finds that 78% of respondents trust the Saudi business sector, and over 80% have strong confidence in the nation's leaders and scientists to manage innovation.
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Who were granted Saudi citizenship?
A Royal Decree was issued to grant Saudi citizenship to a number of scientists, physicians, researchers, innovators, entrepreneurs, and distinguished talents with unique expertise and specializations.
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A new esports tournament in Saudi Arabia promises to be a game-changer – but it’s also caused division in the industry
The Esports World Cup (EWC) – which began on July 3 – has brought together professional gamers, publishers and fans from across the world for an eight-week competitive gaming bonanza. Its record-breaking prize pool of more than $60 million has raised eyebrows and Ralf Reichert, CEO of the Esports World Cup Foundation which is organizing the event, told CNN Sport that the spectacle will help unite the industry.
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Saudi King, Crown Prince congratulate new Iran president on election win
Saudi Arabia’s King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman congratulated the new president of Iran, Masoud Pezeshkian, on his election victory. “On the occasion of your victory in the presidential elections in the Islamic Republic of Iran, we are pleased to send you our sincere congratulations and best wishes for success, looking forward to continuing to develop relations between our two brotherly countries and peoples, and continuing coordination and consultation in order to enhance regional and international peace and security.”
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Abu Dhabi International Book Fair Expands Access to Literature
From April 29 to May 5, thousands of people filled the vast halls of Abu Dhabi’s largest conference center to attend the 33rd annual Abu Dhabi International Book Fair. While the event itself was founded in 1981, the scale and impact of the fair have grown tremendously. In 2020, for example, the fair took place over two days at a small cultural center on Saadiyat Island, an artificial island home to the United Arab Emirates’ Cultural District. Three years later, the fair had grown into a weeklong vibrant and expansive festival, providing a platform for more than 1,350 exhibitors from 90 countries – almost 150 more than the 2023 fair and including 12 additional countries. More than 230,000 visitors enjoyed free access to a wide variety of talks, book signings, and exhibitions. At the fair’s conclusion, more than 160,000 books were sold.
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Will Iran’s new president pursue dialogue with the west?
Reformist Masoud Pezeshkian has beaten hardliner Saeed Jalili in the Iranian presidential race. The July 5 runoff drew some six million more voters than the first round of polling on June 28, pushing up turnout to just under 50%. While President-elect Pezeshkian will begin receiving calls and hold discussions with foreign counterparts from July 8, he will not be sworn in before the parliament until early August. This has not, however, stopped Iranian veteran diplomats from immediately backing any effort by Pezeshkian to engage the west and revive the 2015 nuclear deal.
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Riyadh among top 15 fastest-growing cities: Report
Riyadh has emerged as one of the top 15 fastest-growing cities by 2033, according to the Savills Growth Hubs Index. The report, part of Savills’ global thought leadership programme Impacts, highlights Riyadh as the only non-Asian city in the top 15 list. The city’s growth potential is linked to a projected 26 percent population increase, expected to reach 9.2 million from the current 5.9 million over the next decade.
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2024 could be world’s hottest year as June breaks records
Last month was the hottest June on record, the EU's climate change monitoring service said on Monday, continuing a streak of exceptional temperatures that some scientists said puts 2024 on track to be the world's hottest recorded year. Every month since June 2023 - 13 months in a row - has ranked as the planet's hottest since records began, compared with the corresponding month in previous years, the European Union's Copernicus Climate Change Service (C3S) said in a monthly bulletin.
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Netanyahu: Gaza deal must let Israel resume fighting until war goals met
Any Gaza ceasefire deal must allow Israel to resume fighting until its objectives are met, Prime Minister Benjamin Netanyahu said on Sunday, as talks over a U.S. plan aimed at ending the nine-month-old war were expected to restart. Five days after Hamas accepted a key part of the plan, two officials from the Palestinian militant group said the group was awaiting Israel's response to its latest proposal.
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