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Recent stories from sustg

  • How to create a transmedia hit in the Middle East: C3 Summit:
     

    The distinguished panel of industry leaders walked through a hypothetical case where creative people in the business designed a Middle East based transmedia enterprise and talked through the process of launching and promoting it. They provided an overview of developments in their field in the Middle East and the role of education and creativity in […]

     
  • Saudi Arabia’s ‘golden age of learning’ under King Abdullah
     

    The major barrier in the progress of science in Muslim countries is the absence of a culture based on scientific research. There are no established research strategies, poor institutional support and insufficient integration among science-rich communities. Appointments and promotions in faculties must be based on merit. Muslim countries must create a merit-based structure that fosters […]

     
  • Saudi Arabia’s $220bn spending spree
     

    Even at growth of 3.4 percent, Saudi Arabia’s economy will be the envy of most other large countries. That figure is above the average expected GDP (3 percent) of the G20 nations – of which the kingdom is one – according to Moody’s. And, waiting in the wings, is Saudi Arabia’s vast foreign reserves, which […]

     
  • Saudi Arabia’s 2013 Budget – Jadwa
     

    Budgeted spending is at another all-time high in 2013, as the government continues with its program to upgrade the human and physical infrastructure and spurring economic growth. One highlight of the Ministry of Finance (MoF) budget announcement is the 18 percent jump in revenues. With no new initiatives announced, we think this is a sign […]

     
  • ‘Expansionary’ Saudi 2013 Budget Provides for Record Spending on the Back of 2012 Surplus
     

    A recently released report by Jadwa Investment on Saudi Arabia’s 2013 budget highlights the Saudi government’s plans for record spending to sustain the Kingdom’s economic expansion next year.

     
  • Nitaqat: Towards a Saudi “New Deal?”
     

    Editor’s Note: ‘Saudization’ is a topic that has garnered a great deal of front-page ink in Saudi Arabia of late.  The Nitaqat (“Ranges”) Program introduced in 2011 has staunch advocates and detractors and the ongoing argument between members of the private sector and the Ministry of Labor over recent fee hikes for foreign employees has been […]

     
  • Are Members of Royalty “Foreign Officials” Under the FCPA?
     

    For U.S. companies conducting business abroad, the Foreign Corrupt Practices Act (FCPA) is a constant companion.  The FCPA, “applies to any person who has a certain degree of connection to the United States and engages in foreign corrupt practices. The Act also applies to any act by U.S. businesses, foreign corporations trading securities in the […]

     
  • Saudi Is World’s Largest Market For Islamic Assets
     

    Saudi Arabia is emerging as the largest market for Islamic assets, according to a new report by Ernst & Young. According to the report, Saudi Arabia, with an estimated $207 billion of Islamic assets in 2011, was ranked first in the world. Malaysia was ranked second with total assets of $106 billion and UAE ranked […]

     
  • Riyadh at Night
     

    The population of Riyadh, the capital city of Saudi Arabia, has risen dramatically in the last half century—from 150,000 in 1960 to 5.4 million in 2012. The city appears as a brightly colored patchwork in this nighttime astronaut photograph. The brightest lights, apart from those on the old Riyadh Airbase, follow the commercial districts along […]

     
  • Saudi firms top TRENDS CEO 2012 List
     

    There have been several media reports in 2012 by regional and international media, including TRENDS, commenting on the immense growth seen by the Saudi retail and construction sectors. New entries and a rise through the top CEO ranks of Saudi cement companies is a testament to the vibrancy of the property and construction sectors in […]

     

MUST-READS

  • Aramco and PIF invest in Saudi-Chinese steel venture

    Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese state-backed Baoshan Iron & Steel has doubled its investment in the venture to $1 billion. The Shanghai-listed producer holds the remaining 50 percent stake.

  • A guide to Saudi Arabia’s athletes competing in the Paris 2024 Olympics

    Saudi athletes will be competing across four sports — athletics, equestrian, swimming and taekwondo — with seven men and three women included in the Paris-bound delegation. A total of four medals were scooped by Saudi athletes in 12 previous appearances at the Olympics, most recently a silver clinched by Tareq Hamedi in karate in Tokyo 2020.

  • Harris pushes Netanyahu to ease suffering in Gaza: ‘I will not be silent’

    U.S. Vice President Kamala Harris pressured Israeli Prime Minister Benjamin Netanyahu on Thursday to help reach a Gaza ceasefire deal that would ease the suffering of Palestinian civilians, striking a tougher tone than President Joe Biden. "It is time for this war to end," Harris said in a televised statement after she held face-to-face talks with Netanyahu. Harris, the likely Democratic presidential nominee after Biden dropped out of the election race on Sunday, did not mince words about the humanitarian crisis gripping Gaza after nine months of war between Israel and Hamas militants.

  • H1 2024 MENA Venture Investment

    In H1 2024, the MENA region secured $768M in total funding, experiencing a 34% decline from H1 2023. However, if we exclude MEGA (+$100M) deals, we see that the non-MEGA funding in H1 2024 saw a 3% increase compared to H1 2023. Interestingly, this increase was primarily driven by a 48% QoQ increase in non-MEGA deal funding we saw in Q2 2024. In contrast, SEA and Africa saw substantial declines in non-MEGA deal funding in H1 2024, compared to H1 2023, with SEA and Africa experiencing 37% and 55% declines, respectively.

  • How Israeli attack helped Houthis push Saudis to tame Yemeni rivals

    In Yemen, the Ansarullah movement and the internationally-recognized government have struck an “economic de-escalation accord” reportedly mediated by Saudi Arabia. The agreement is a major breakthrough for Ansarullah, better known as the Houthis. The group had threatened the Kingdom with “war” unless escalating economic warfare by its Yemeni rivals was halted. The Saudi mediation notably follows warnings by senior Houthi officials of a severe response if Riyadh is found to have enabled the recent Israeli airstrikes in Yemen.

  • UAE, Saudi Arabia lead strong GCC consumer shift towards flexitarianism, healthy eating

    The GCC region, especially the UAE and Saudi Arabia, is seeing a strong consumer shift towards eating healthy, with an increasingly high share of non-vegetarians opting for more plant-based diets, industry experts said. This shift is poised to trigger a projected eight-fold surge in the size of the plant-based meat market to $500 million by 2030 from a mere $60 million in 2023, recent market research suggests. In contrast, the region’s meat market, estimated at $17 billion last year, is projected to reach only $26 billion during this period – a mere 53 percent rise.

  • Netanyahu sketches vague outline for post-war Gaza

    Israeli Prime Minister Benjamin Netanyahu sketched a vague outline of a plan for a "deradicalized" post-war Gaza in a speech to Congress on Wednesday and touted a potential future alliance between Israel and America's Arab allies. While dozens of Democrats boycotted his remarks and thousands of pro-Palestinian protesters demonstrated nearby, Netanyahu dismissed criticism of an Israeli campaign that has devastated the Palestinian enclave and killed more than 39,000 of its residents, according to Gaza health officials.

  • Staggering 68 pct of Saudi firms plan to use GenAI for enhanced security: Study

    Some 68 percent of organizations in Saudi Arabia plan to use generative AI (GenAI) within the next 12 months to enhance security measures, a new study by exposure management company Tenable found. The data for the study was commissioned in October 2023 by Forrester Consulting on behalf of Tenable.

  • Temporary ban on Brazilian poultry imports will not impact Saudi market, says committee

    The National Committee of Poultry Producers at the Federation of Saudi Chambers has downplayed the impact of the temporary ban on importing poultry products from Brazil due to the outbreak of Newcastle disease on the Saudi market. The committee's chairman, Mohammed Al-Shaya, stated that the temporary ban from Brazil would not significantly affect the quantities available in the Saudi market or the prices. This is because the Kingdom relies on local production to meet its market needs for both fresh and frozen poultry.

  • Communication gaps hinder Saudi gigaprojects

    In hindsight, the lack of detail was due to the fact that their masterplans had either not been completed or approved, which meant that specific project elements could not be publicised. For example, the Red Sea project was first announced in mid-2017, but it was not until early 2019 that its masterplan was approved and more details could be revealed.