The SRCA urged citizens and residents to follow the instructions of the relevant authorities, exercise caution during bad weather, adhere to traffic safety rules, and avoid dangerous areas such as streams and rain pools. It encouraged people to report emergencies by calling 997.
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Saudi Arabia’s coronavirus cases grow to 35,000
- May 8,2020
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- SUSTG Team
The number of coronavirus cases in Saudi Arabia exceeded 35,000 on Friday as the kingdom struggles to get to grips with rising numbers of new infections, Reuters reports.
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Analysis: Saudi Arabia Could ‘Emerge from the Pandemic Stronger, both Economically and Geopolitically’
- May 6,2020
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- SUSTG Team
In an opinion piece in Foreign Policy magazine, a former advisor to President Barack Obama and professor at Columbia University says it is likely that Saudi Arabia will emerge from the Coronavirus pandemic “stronger, both economically and geopolitically” and that its bold moves in oil markets created a win for the Kingdom.
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‘We are looking into any opportunity’, PIF Chief Says as Saudi Eyes Value Investments
- April 24,2020
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- SUSTG Team
Saudi Arabia’s head of its Public Investment Fund, Yasir Al-Rumayyan, said the fund is looking to make more value investments in the weeks and months to come with global markets down as a result of the Coronavirus pandemic.
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Big Week for Oil Prices as Major Producers Scramble for a Deal
- April 6,2020
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- SUSTG Team
Saudi Arabia, Russia, OPEC countries and the United States are hoping this week a deal can be reached on production cuts to prevent the price of oil from falling further on international indices, but some analysts and market observers are skeptical that such a deal can come together given the current market dynamics.
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Saudi Arabia’s King Salman Chairs Virtual Gathering of G20 Countries to Combat COVID-19
- March 26,2020
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- SUSTG Team
Saudi Arabia’s King Salman chaired a virtual G20 summit via video teleconference with world leaders to address the COVID19 crisis under the G20 Saudi Arabia Presidency.
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Jadwa Macroeconomic Update: COVID-19 ‘Changes Everything, for Now’
- March 19,2020
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- SUSTG Team
The latest Macroeconomic Update report from Jadwa Investment examines the impact of the COVID-19 virus, or Coronavirus, on the Saudi economy, noting that while COVID-19 will put pressure on the oil economy, downside risks to non-oil growth will also be noticeable in the Kingdom.
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Report: Saudi Plans $6bn Surge in Mortgage Refinancing
- March 5,2020
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- SUSTG Team
Saudi Arabia’s first mortgage refinancing firm “aims to raise its holdings of home-loan portfolios by 10 times this year,” Bloomberg reports, as the Kingdom’s Saudi Housing Minister said that Saudi’s first mortgage refinancing firm plans to buy more than SAR 23 billion ($6.1 billion) of mortgage portfolios from banks in 2020.
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Pompeo Meets with King Salman, FM Prince Faisal bin Farhan in Riyadh
- February 20,2020
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- SUSTG Team
Secretary of State Mike Pompeo met with King Salman and Foreign Minister Prince Faisal bin Farhan in Riyadh today, photos from the Saudi Press Agency show.
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Saudi Cabinet Gives Approval to Saudi Export and Import (Exim) Bank, Launch Expected Soon
- February 18,2020
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- SUSTG Team
Saudi Arabia’s Council of Ministers has approved regulations for the creation of a new Saudi Export and Import (Exim) Bank on Tuesday during a session presided over by Custodian of the Two Holy Mosques King Salman at Al-Yamamah Palace.
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Jadwa Investment: Saudi Inflation Set to Rise Slightly in 2020; Non-Oil Private Sector to Pick Up
- February 5,2020
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- SUSTG Team
A recently-released report by Jadwa Investment notes that the Kingdom will see a slight increase in inflation in 2020 on expectations of a continued pick-up in non-oil activities and an elevated level of consumer spending.
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Ronnie O’Sullivan gives honest feelings on Saudi Arabia Masters in traditional attire
Ronnie O'Sullivan has branded the inaugural Saudi Arabia Masters 'the best event on tour' after paying tribute to the organisers. The snooker legend has been blown away by the facilities in Riyadh and insisted that the Saudis have set a new standard on the professional circuit.
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Jeddah assumes Saudi Arabia Formula E hosting duties for 2025
The Jeddah E-Prix will make its mark on the Season 11 FIA Formula E World Championship calendar, assuming hosting duties from Diriyah. Diriyah has enjoyed six seasons of hosting Formula E action, but on 14-15 February 2025, the all-electric single-seater series will move to the Red Sea Coast to race on the revised Jeddah Corniche Short Circuit.
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Saudi project clears 1,047 Houthi mines in Yemen
Ousama Al-Gosaibi, the initiative’s managing director, said a total of 457,711 mines had been cleared since its inception in 2018. The explosives were planted indiscriminately and posed a threat to civilians, including children, women and the elderly.
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Saudi Industry Minister highlights shift from expatriate labor to automation and local talent investment
During a business roundtable meeting organized by the Federation —the largest body representing the interests of manufacturing industries in Singapore— Al Khorayef emphasized Saudi Arabia’s strategic shift from reliance on expatriate labor towards automation and investment in local human resources.
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CEO of major Gulf defense firm, Saudi Arabia Military Industries, steps down
After serving four years as CEO of government-owned defense firm Saudi Arabia Military Industries (SAMI), Walid Abukhaled has resigned from his position, according to the company.
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Saudi Arabia continues airdrops of food aid to Gaza
Two planeload of food supplies landed in Jordan on Monday, on its way to distribute among the people of the Gaza Strip. The relief supply was airdropped in cooperation with the Jordanian Armed Forces to overcome the difficulties caused by the closure of the border crossings by the Israeli occupation forces.
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224 fintech companies in Saudi Arabia by end of Q2 2024: Al-Jadaan
Minister of Finance Mohammed Al-Jadaan said the number of fintech companies in Saudi Arabia reached 224 by the end of Q2 2024, surpassing the Financial Sector Development Program's (FSDP) target of 168 companies for the same period.
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Saudi Red Crescent on high alert as heavy rain falls on Makkah
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Saudi Arabia’s 24 Fintech conference kicks off in Riyadh, highlighting sector’s rapid growth and ambitious future
The Saudi fintech sector has witnessed a remarkable trajectory since 2018, attracting $1.84 billion in venture capital investments, according to the General Authority for Small and Medium Enterprises, or Monsha’at. Over this period, 216 Saudi-based startups have received funding, directly employing more than 6,500 people.
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Saudi Syarah closes $60 million in a Series C round
Saudi Arabia-based autotech Syarah has raised $60 million in a Series C round, led by Artal Capital, with participation from Elm, Impact46, Tawuniya, and Derayah Ventures, bringing the total investment to date to more than $82 million.
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