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Recent stories from sustg
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Saudi Arabia signs $533m deals with Africa; PIF Plans Investment Announcements – Reports
- November 9,2023
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- SUSTG Team
Saudi Arabia signed over SR2 billion ($533 million) worth of agreements with African countries during a special conference in a “significant boost to the Kingdom’s ties with the continent,” according to reports.
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Saudi Arabia’s PIF Invests $100 Million in the US-based Professional Fighters League Mixed Martial Arts
- August 30,2023
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- SUSTG Team
Saudi Arabia’s Public Investment Fund, using a new investment vehicle, will reportedly make the Kingdom’s first foray into mixed martial arts (MMA) by investing $100 million in the US’s Professional Fighters League and creating a regional tournament, the Financial Times reports.
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Growing Saudi female sports participation triggers retail growth
- May 16,2024
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- SUSTG Team
Writing for Jing Daily, Julienna Law reports that Saudi Arabia’s sportswear and athleisure apparel market is set to boom as women, in particular, become more active in sports.
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Saudi Stock Market Lists 400th Security
- April 3,2024
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- SUSTG Team
Formally established in 2007 after the devastating market crash of 2006 and incorporated as a holding company in 2021, the Saudi stock market (Tadawul) recently hit a milestone of 400 listed securities.
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Fitch Affirms Saudi Arabia at ‘A+’ with Outlook Stable
- February 6,2024
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- SUSTG Team
Fitch Ratings has affirmed Saudi Arabia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘A+’ with a Stable Outlook, the ratings agency said. “Saudi Arabia’s ratings reflect its strong fiscal and external balance sheets, with government debt/GDP and sovereign net foreign assets (SNFA) considerably stronger than both the ‘A’ and ‘AA’ medians, and significant fiscal buffers […]
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The Saudi economy and government spending with former IMF Country Head for Saudi Arabia Tim Callen, big announcements from The 966, and much more…
- November 10,2023
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- SUSTG Team
Tim Callen, ex-IMF Mission Chief to Saudi Arabia and Visiting Fellow at AGSIW, joins The 966 to discuss Saudi Arabia’s budget, government spending, and more. Tim’s most recent piece for AGSIW discusses how increased spending in Saudi Arabia raises risks to the Saudi budget. The hosts take advantage of Tim’s extensive experience and vast knowledge on how […]
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New Murabba Development Company Awards Industry-Leader Bechtel with PMC Contract for Masterplan, Site-Wide Infrastructure
- August 29,2023
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- SUSTG Team
The Saudi-based, PIF-owned New Murabba Development Company has announced that Bechtel, the leading engineering and construction company, has been awarded a key contract to provide project management services for the New Murabba development in the capital Riyadh.
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Saudi Entertainment Ventures (Seven) and Qiddiya Combine
- May 15,2024
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- SUSTG Team
Seven, a wholly owned public investment fund (PIF) company, has now become a wholly owned subsidiary of Qiddiya to enhance the offerings of both companies and support its wider strategy for the entertainment, leisure and sports sector.
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Saudi Arabia’s non-oil business activity grows robustly in March, PMI shows
- April 3,2024
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- SUSTG Team
Strong demand helped drive non-oil business activity in Saudi Arabia in March, Reuters reports, with output accelerating to a six-month high.
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2nd PIF Private Sector Forum Concludes; Expands Private Sector Interaction with PIF Portfolio Companies
- February 7,2024
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- SUSTG Team
Saudi Arabia concluded its second edition of the “PIF Private Sector Forum” in Riyadh, an event that brought together stakeholders from the PIF and its portfolio companies to engage directly with private sector companies at the King Abdulaziz International Convention Center in Riyadh.
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MUST-READS
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Yemen: Who are the UAE-backed Giants Brigades?
Pro-government force, composed mainly of southern fighters, proves crucial in advances against Houthi movement in Shabwah
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Yemen: UAE-backed forces charge into Marib after taking Shabwah from Houthis
The dramatic reversal of fortunes in Yemen’s Shabwah was underscored on Tuesday when Turki al-Maliki, spokesperson for the Saudi-led coalition fighting the Houthi movement, held a press conference in the battleground province.
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Saudi-led coalition says Houthi actions turn Yemen ports into legitimate targets
The Saudi-led coalition fighting in Yemen believes the use by Houthi forces of two ports as military bases would turn them into legitimate military targets, coalition spokesman Brigadier General Turki al-Malki said on Saturday. The ports of Hodeidah and Salif are controlled by the Iran-aligned Houthi movement and the Saudi-led coalition has said the Houthis use them as launching points for military and marine operations. "We do not want to target the ports ... We want to reach a comprehensive political solution," al-Malki told a press conference, but added that if the Houthis use any civilian sites they forfeit immunity thus making the ports targets.
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Saudi Forces Receive Distress Call From Oil Tanker Near Yemen
Unidentified assailants harassed an oil tanker off the coast of Yemen, a Saudi Arabia-led military coalition said late on Wednesday after receiving a distress call from the vessel. The coalition, which is fighting the Iran-backed Houthi group in Yemen’s war, said the “armed harassment” took place near the Red Sea port city of Hodeida, according to Saudi state television. It didn’t give further details but warned of high risk for vessels in the area.
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Yemeni rebels seize UAE ship in Red Sea after upsurge in violence
Coalition says vessel was carrying medical supplies but Houthis put out videos they claim show ammunition on board
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Houthis seize ‘hostile’ vessel off Yemen which Saudis say carried medical equipment
The Iran-aligned Houthi movement that controls most of northern Yemen hijacked a United Arab Emirates-flagged cargo vessel engaged in "hostile acts" but which the Saudis said was carrying hospital equipment.
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Yemen rebels seize UAE ship; hackers hit Israeli newspaper
Yemen’s Houthi rebels seized an Emirati-flagged ship in the Red Sea, officials said Monday, the latest sign of Mideast tensions as hackers targeted a major Israeli newspaper’s website to mark America’s 2020 killing of a top Iranian general.
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U.N. bodies urge Yemen’s Houthis to release two staff members
Yemen's Houthi movement has detained two staff members of UNESCO and U.N. Human Rights since early November, the UN bodies said in a joint statement on Tuesday, calling for their immediate release. The statement gave no details on the two individuals, but a Yemeni government official told Reuters they were Yemeni staff who had previously worked for the U.S. embassy in Sanaa.
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Yemen’s Houthis say allowed temporary resumption of U.N. flights to Sanaa airport
The aviation authority run by the Houthi administration in Yemen has allowed temporary resumption of flights by the United Nations and other organizations to Sanaa international airport on Monday, the Houthi-run Saba news agency said. The Iran-aligned Houthi movement said earlier this month that the capital's airport had been put out of operation after air strikes carried out by the Saudi-led coalition fighting in Yemen
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Saudi-led coalition renews airstrikes against Yemen’s Houthis
Houthi projectile attacks into Saudi Arabia more than doubled in 2021 over last year, the Washington-based think-tank Center for Strategic and International Studies reported last week. US officials have said Saudi Arabia is now able to knock down roughly 90% of the projectiles with Washington’s defensive military support.
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