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MoF’s 2025 Preliminary Budget Statement assessed
- October 28,2024
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- SUSTG Team
Jadwa Investment assesses the Saudi Ministry of Finance’s recently released Preliminary Budget Statement for 2025 and mid-year 2024 economic review.
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IMF World Economic Outlook releases KSA forecasts for ’24 and ’25
- October 23,2024
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- SUSTG Team
In its just-released World Economic Outlook Report the International Monetary Fund further lowered its GDP growth forecast for Saudi Arabia for 2024 to 1.5% and estimated growth to accelerate to 4.6% next year.
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Saudi Finance Minister makes strong case for multilateralism at IMF, World Bank meetings
- October 23,2024
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- SUSTG Team
Saudi Finance Minister Mohammed Al Jadaan appealed for a strong defense of multilateralism, warning of the challenges that global fragmentation poses to trade and humanitarian efforts.
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16th BRICS summit in Russia October 22-24
- October 22,2024
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- admin
The 16th BRICS summit kicked off today in Kazan, Russia.
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New Murabba project hits early milestone
- October 21,2024
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- SUSTG Team
The ambitious $50 billion New Murabba project has excavated 10 million cubic meters in preparation for construction as it works to meet a December 2030 deadline.
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BBC Travel’s superb feature on Swizz Beatz and his love for AlUla and Saudi Arabia
- October 17,2024
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- SUSTG Team
Bronx-born entertainer Kasseem Daoud Dean – Swizz Beatz – talks with Eva Sandoval and BBC Travel for a remarkable discussion of his favorite places in Saudi Arabia.
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US approves new arms sale to KSA
- October 14,2024
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- SUSTG Team
Saudi Arabia has received clearance from the U.S. State Department to purchase missiles, ammunition and other weapon systems via three foreign military sale transactions worth potentially $1.05 billion.
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PIF steps up Saudi clean hydrogen push
- October 9,2024
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- SUSTG Team
Bloomberg reports that the Public Investment Fund intends to invest at least $10 billion to support production of clean hydrogen.
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Saudi Box Office update
- October 8,2024
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- SUSTG Team
With the second edition of the Saudi Film Confex occurring in Riyadh October 9-12 the Saudi box office and movie-goer numbers in 2024 are down but less so than global averages.
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Saudi MOF issues budget report: deficits and reduced GDP growth projected
- October 2,2024
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- SUSTG Team
Saudi Arabia’s Ministry of Finance cut its growth forecasts and raised its budget deficit estimates for the fiscal years 2024 to 2026, anticipating higher spending and lower projected oil revenues.
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MUST-READS
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W.Media brings together DC Industry Stalwarts in Saudi Arabia
Over 100 of the best and brightest of the Middle East's Cloud and Data Center industry came together at the Hyatt Regency, Riyadh Olaya in the capital city of the Kingdom of Saudi Arabia (KSA) for W.Media's maiden edition of Saudi Cloud & Datacenter Convention on December 19. These included industry experts and thought leaders, including C-level executives, digital infrastructure professionals including architects, engineers and consultants (AECs), key buyers, decision makers, data center owners and operators.
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Prince Faisal: Saudi Arabia will continue its call for immediate ceasefire in Gaza
Minister of Foreign Affairs Prince Faisal bin Farhan said that Saudi Arabia will continue its call for an immediate ceasefire in the besieged Gaza Strip. “We will ensure the safe passage for sufficient humanitarian aid to enter Gaza, releasing all civilian hostages, and placing us on a credible track of just and sustainable peace” he said while addressing a meeting of the situation of human rights in Palestine and the Universal Declaration of Human Rights at the United Nations Human Rights Commission (UNHRC) headquarters in Geneva on Tuesday. The two-day meeting marks the 75th anniversary of the Universal Declaration of Human Rights.
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Saudi Arabia’s MBC media group prices IPO at top of range
Saudi state-owned media giant MBC priced its initial public offering (IPO) at the top of the previously announced range, selling its shares at 25 riyals ($6.67) each on Tuesday.
MBC plans to float 10% of its share capital on the Saudi Exchange with the company's market capitalisation expected to be 8.3 billion riyals ($2.21 billion) at listing.
It operates 13 free-to-air TV channels and runs the streaming-platform Shahid, known as the Netflix of the Middle East.
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“Red Carpet, Not Red Tape”: How Saudi Arabia’s Neom Media Hub Is Pitching Producers
Neom is a burgeoning production and creative hub in northwestern Saudi Arabia featuring the largest soundstages in the country.
It is also the biggest purpose-built production facility in the region, with four stages currently being operational and six more scheduled to go online by mid-2024, including a volumetric stage that captures three-dimensional space and video that can be viewed on flat screens, as well as using 3D displays and VR goggles. Plus, the Neom hub plans to grow its currently 350 units of accommodation to 500 by mid-year 2024.
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Media Ministry Organizes ‘Media Oasis’ Coinciding with Summits Hosted by Saudi Arabia
The Media Ministry holds the fourth edition of the Media Oasis in Diriyah, Riyadh, from November 9 to 11, coinciding with the Kingdom of Saudi Arabia's hosting of the three summits: The Saudi-African Summit, the Extraordinary Arab Summit, and the Extraordinary Islamic Summit. The Media Oasis covers an area of 18,000 square metres and include more than 30 major national transformational projects, including the NEOM project, in six pavilions that display the development achievements of these projects.
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Arab youth social media addiction reaches crisis levels as Gen Z, Millennial mental health declines: Report
Social media addiction among Arab youth has skyrocketed to crisis levels, contributing to deteriorating mental well-being across the Middle East, the Arab Youth Survey found. The comprehensive study of Arab youth, the Middle East and North Africa’s largest demographic, found that a staggering 74 percent of young Arabs now say they struggle to disconnect from social media networks. Shockingly, 61 percent agree that their addiction to platforms like Facebook, Instagram and TikTok has negatively impacted their mental health.
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Media Minister: Saudi Arabia’s History Exhibition Establishes Relationship between Saudi Media, National History
The Minister of Media and Chairman of the Board of Directors of the Saudi Press Agency (SPA), Salman bin Yousef Al-Dosari, expressed the Saudi media’s pride in its national message and its responsibility to consolidate the historical depth of the Saudi state by introducing its achievements, nobility, and cultural and social heritage, and promoting its civilizational achievement and regional and global status so that the progress march continues towards a promising future for the nation and the citizens under the Saudi Vision 2030.
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Saudi Arabia allocates $7.8 bln worth of investments for Expo 2030 – state media
Saudi Arabia has allocated $7.8 billion worth of investments for Expo 2030, state news agency SPA reported early on Wednesday. "I highlighted the Kingdom’s investment of $7.8 billion in the Expo and the opportunities and enriched experience available to international companies," Saudi investment minister Khalid al-Falih said, as Riyadh made its bid for hosting the coming issue of Expo 2030.
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Venezuela’s Maduro visits Saudi Arabia – state media
Venezuelan President Nicolas Maduro arrived in Saudi Arabia on Monday, state media reported, as the kingdom continues to expand its diplomatic outreach beyond traditional Western alliances. Maduro was received at the airport of the Saudi Red Sea city of Jeddah by Deputy Governor of Mecca region Prince Badr bin Sultan and other officials, Saudi state news agency SPA said. Venezuela's Maduro is the latest U.S. foe to visit Saudi Arabia as the kingdom rebuilds alliances without the blessing of the United States, its long-time ally. Riyadh has restored ties with Iran and Syria over the last months and strengthened its cooperation with China and Russia.
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Saudi Arabia and Syria agreed to resume diplomatic missions: state media
Saudi Arabia and Syria have resumed the work of diplomatic missions in both countries, according to state media, more than a decade after Riyadh cut ties over the Syrian government’s brutal handling of its civil war. “The Kingdom of Saudi Arabia decided to resume the work of its diplomatic mission in the Syrian Arab Republic,” the state-run Saudi Press Agency reported Tuesday. The announcement came two days after Syria was readmitted into the Arab League – despite repeated objections from the United States to ending the isolation of a regime that it holds accountable for the deaths of more 300,000 civilians and displacement of millions in the country’s civil war.
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