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Iranian President Meets with Crown Prince Mohammed bin Salman for First Time with Regional Stability in the Spotlight
- November 14,2023
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- SUSTG Team
Ebrahim Raisi has become the first Iranian president to visit Saudi Arabia in over a decade, meeting with Crown Prince Mohammed bin Salman for the first time in the Kingdom.
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Google to Launch Saudi Cloud Region this Week, VP Says
- November 13,2023
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- SUSTG Team
Google will launch its Saudi Arabian cloud region this week, Anthony Cirot, Google Cloud’s EMEA South VP, posted on LinkedIn this week.
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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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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 to Convene Emergency Arab Summit in Riyadh ‘In the Next Few Days’ and Will Postpone Arab-African Summit
- November 8,2023
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- SUSTG Team
Saudi Investment Minister Khalid Al Falih said the Kingdom would convene an emergency Arab summit in Riyadh “in the next few days” to discuss the ongoing war in Gaza.
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Saudi Arabia Launches Separate Real Estate Registry, Indicators Platforms – Report
- November 7,2023
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- SUSTG Team
Saudi Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of Directors of the Real Estate General Authority Majid al-Hogail launched on Monday the Real Estate Registry platform and the Real Estate Indicators platform on the sidelines of the Saudi Proptech Summit, according to a report in the Saudi-owned Asharq Alawsat.
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Saudi Arabia Eyes Stake in $30 Billion Indian Cricket League – Report
- November 6,2023
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- SUSTG Team
Saudi Arabia has expressed interest in buying a multibillion-dollar stake in the Indian Premier League (IPL), international cricket’s most lucrative event, Bloomberg reports.
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MasterCard’s Maria Medvedeva joins The 966 to talk payments, fintech and more; plus more on Leyja at Neom
- November 3,2023
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- SUSTG Team
In Episode 110, Maria Medvedeva, Vice President, Saudi Arabia and Bahrain for MasterCard joins to discuss the company’s KSA strategy, fintech, payments, innovation, and her experiences living and working in a changing and evolving Saudi Arabia. Maria, based in Riyadh with her family, is responsible for Mastercard’s growth strategy and delivering innovative payment experiences for […]
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Saudi Arabia Set to Host World Cup in 2024 as Competitors Drop Out
- November 2,2023
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- SUSTG Team
Saudi Arabia is on the brink of hosting the 2034 World Cup after competing bidder Australia dropped its candidacy to host the global event, marking another milestone in Saudi Arabia’s efforts to develop sports as a contributor to its economic diversification goals.
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Habitas to Manage Neom’s Annonuced Mountain Destination Leyja with 120 Rooms
- November 1,2023
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- SUSTG Team
Saudi Arabia’s mountain destination of Leyja, announced last month, will be managed by high-end brand Habitas, according to a report.
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MUST-READS
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Will the Ceasefire Lead to Normalization with Saudi Arabia?
Since the war began, Saudi Arabia has intensified its tone toward Israel, and public messages from Riyadh have become critical, even venomous. The peak came in November of last year, when Crown Prince Mohammed bin Salman, the strongman of the kingdom, accused Israel of committing “collective genocide” against Palestinians in Gaza. Such statements from the de facto leader of the Saudi kingdom had not been heard before and seemed to contradict some of his previous statements regarding Israel before the war. Since the onset of the war, the kingdom has called for an immediate ceasefire, and when it was achieved, the Saudi Foreign Ministry welcomed it, adding that the kingdom hopes that it will end the “Israeli barbarism and aggression” in Gaza. Initially, the kingdom had called for an IDF withdrawal from Gaza, but recently, it added the demand for withdrawal “from all Arab territories,” referring to positions held by the IDF in southern Lebanon and the Syrian side of the Golan Heights. In doing so, Saudi Arabia is aligning itself with other Arab states.
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Türkiye in Talks with Saudi Arabia for US$6 Billion Defense Deal. KAAN to Get First Foreign Customer?
The Turkish Air Force is expected to begin operating the KAAN fighter jet in 2028, with an initial delivery of 20 aircraft from TAI (TUSAS). By 2029, TAI is projected to produce two KAAN fighter jets per month, generating approximately $2.4 billion (RM9.6 billion) in annual revenue. Recently, Defence Security Asia reported that Saudi Arabia is considering a proposal to acquire approximately 100 units of the KAAN fifth-generation fighter jet, which is currently under development in Türkiye. Discussions on the potential acquisition were reportedly held during a recent visit by Saudi Royal Air Force Commander Prince Turki bin Bandar Al Saud to Türkiye. During his visit, Prince Turki met with key Turkish defense companies, including Roketsan, Aselsan, and Turkish Aerospace Industries (TAI), the manufacturer of the KAAN fighter jet.
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Commentary: For Trump, is Gaza merely real estate to be developed?
It’s hardly surprising that one of US president Donald Trump's initial forays into Middle East policy has been the suggestion – repeated over the weekend – that the Palestinian population of the Gaza Strip should be moved to Egypt and/or Jordan. The concept has been met with hosannas from the Israeli ultra-right, whose racist attitudes towards Palestinians are unabashed. While Mr Trump and his officials attempted to clarify it could be either "temporary" or "long term" – Israel has never allowed substantial groups of Palestinians to return to any part of Palestine once they are removed. The idea that Israel would agree to see millions of Palestinians leave "Eretz Israel" and ever allow them to return en masse would require Israeli officials to have a completely different mentality as well as a different relationship with the Palestinians.
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Interpol to establish regional office in Saudi Arabia
Interpol is to establish an office in Saudi Arabia that will serve the Middle East and North Africa region. Hisham Al-Faleh, undersecretary at the Kingdom’s Ministry of Interior, and Jurgen Stock, secretary-general of the international police organization, signed a host country agreement on Wednesday. Prince Abdulaziz bin Saud, the Saudi Minister of Interior, and Maj. Gen. Ahmed Naser Al-Raisi, the president of Interpol, also attended the signing ceremony, the Saudi Press Agency reported. In addition, they discussed Interpol’s activities during a meeting that also included Nasser Al-Dawood, the deputy minister of interior; Brig. Gen. Abdulmalik Al-Saqeeh, the director general of Saudi Interpol; and other senior officials.
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Opinion: How Donald Trump Should Deal With Saudi Arabia
Trump and MBS are prepared to pick up where they left off. The two view each other as force multipliers for their respective agendas. Trump looks at the Saudi crown prince and sees a high net-worth individual who could throw a gargantuan amount of petrodollars into the American economy. In Trump, MBS spots a transactional businessman who couldn't care less about high-browed concepts like the rules-based international order. Both men are also nationalists to the core. MBS can relate to Trump's "Make America Great Again" mantra because he is following the same playbook in the kingdom. MBS wants to make his country stronger and wealthier than ever before, best exemplified by his Vision 2030 economic campaign to diversify Saudi Arabia from an oil-pumping machine into a center of banking, finance, and sports.
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Saudi seeks foreign capital to build global, competitive industries
Saudi Arabia’s main objective in attracting foreign investment is to unlock its labor force to develop goods and services that can compete globally, marking a shift for a kingdom known as a source of long-term capital for western companies.The kingdom has flipped the non-oil sector’s contribution to GDP to slightly over half the economy for the first time, up from 46% before the plan was announced in 2016. “The job is not done,” he said. “It’s on track. It’s gaining momentum.” Key to sustaining this progress is attracting foreign companies and capital. That track record so far has been mixed. Saudi Arabia aims to bring in $100 billion in foreign direct investment (FDI) annually by 2030, or 5.7% of GDP. FDI inflows for the first nine months of 2024 totaled $14.5 billion, just over halfway to the government’s $29 billion target for the year, according to the General Authority for Statistics.
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Early days of Trump 2.0 signal major Middle East policy shift to transactional diplomacy
Just eleven days into his second presidency, Donald Trump has returned to a “completely inverted” Middle East, where his signature America First policy faces new regional complexities, from Gaza’s humanitarian crisis to shifting alliances in Syria. Trump’s early moves signal a three-fold strategy: ending current conflicts in Palestine and Lebanon, confronting Iran’s nuclear ambitions, and deepening US-Gulf economic integration, according to analysts familiar with the administration’s approach. “For America First to be effective, the globe has to be stable. Wars and flashpoints come in the way of trade and commerce—the last thing Trump wants,” said Abishur Prakash, founder of The Geopolitical Business Inc. “For the Middle East, this means a new kind of US involvement, to stamp out the fires and restore regional and global stability.”
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National Cybersecurity Authority launches 2nd phase of Postgraduate Scholarship Program
The scholarship program's main objective is to empower national talents to enhance their academic skills in key cybersecurity domains, addressing the national demand for expertise in this field, and bolstering the workforce with qualified cyber professionals. This initiative focuses on several cybersecurity priority areas, including cryptography, security of operational technology systems, cybersecurity-related public policies, and cybersecurity in emerging technologies.
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Saudi Fencing Team Ranks First in Arab World with 60 Medals
The Saudi fencing team concluded its participation in the Arab Fencing Championship, which ended yesterday in Bahrain, securing first place in the team rankings with a total of 60 medals (16 gold, 17 silver, and 27 bronze). The championship featured the participation of 12 countries: Saudi Arabia, Oman, the United Arab Emirates (UAE), Qatar, Egypt, Kuwait, Bahrain, Iraq, Lebanon, Tunisia, Yemen, and Libya. Oman came in second place with 21 medals (eight gold, eight silver, and five bronze), while the UAE ranked third with seven medals (three gold, one silver, and three bronze). The Saudi team participated with 127 athletes (42 women and 85 men) across all categories (senior, under 15, under 13, and under 11 years old) and in all three weapons of épée, foil, and sabre (individual and team events).
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Franchise industry in Saudi Arabia hits $15B: Official
Khaled Al-Ghamdi, Chairman of the National Franchise Committee at the Federation of Saudi Chambers, said that the value of the franchise industry in the Kingdom is estimated at about $15 billion (about SAR 53 billion). He added that the Kingdom is one of the largest franchise hubs in the Middle East. There are more than 1,200 registered trademarks in the Kingdom’s franchise sector, which is witnessing remarkable expansion, as brands grow at an annual rate of 27%, Al-Ghamdi told Argaam on the sidelines of the Saudi Franchise Expo in Riyadh. Furthermore, there is a move to empower Saudi franchises in Europe and the US, as Saudi products are globally admired for their quality and compliance with Halal standards, especially in the food industry, which will greatly enhance the opportunities for restaurants and cafes to spread, the official said.
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