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Saudi Arabia Sees a Boom in the Kingdom’s Freelancer Workforce
- August 23,2021
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- SUSTG Team
The number of freelance workers in Saudi Arabia is growing quickly as the Kingdom’s economy continues to recover from the pandemic, according to fresh data from the Ministry of Human Resources and Social Development.
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Kingdom’s Sights Remain on Renewables as Energy Ministry Allocates Land Plots for Solar
- August 20,2021
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- SUSTG Team
Saudi Arabia’s Ministry of Energy is building two renewable energy plants on land plots with a total area of 12 million square meters (4.6 square miles) to generate 600mw of energy, according to Zawya via the Saudi Press Agency. The two announced plans fit into the Kingdom’s ongoing solar and renewable power ambitions. Saudi Arabia […]
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Cementing End of Rift, Qatar Appoints Ambassador to Saudi Arabia
- August 12,2021
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- SUSTG Team
Qatar’s Emir Sheikh Tamim bin Hamad al-Thani on Wednesday named an ambassador to Saudi Arabia, just weeks after the Kingdom named Prince Mansour bin Khalid bin Farhan to serve as the Saudi ambassador to Qatar.
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Fintech Saudi Releases National Fintech Adoption Survey Results in 5 Areas
- August 10,2021
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- SUSTG Team
Fintech Saudi, an initiative launched by the Saudi Central Bank (SAMA) in partnership with the Capital Market Authority (CMA), has announced the results of the National Fintech Adoption Survey, a first of its kind measurement in Saudi Arabia of the people’s interest in adopting fintech solutions.
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Saudi Aramco Posts Nearly 300% Jump in 2Q Profit on Soaring Energy Demand Recovery
- August 9,2021
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- SUSTG Team
Saudi Aramco generated a net income of $25.5 billion in the second quarter of 2021, beating expectations and boosting the company’s earnings to nearly quadruple its earnings from the same quarter last year. The income was a 288% increase in net income for the second quarter, and the company maintained its dividend of $18.8 billion.
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SABIC’s Profit Surges in 2Q Amid Booming Demand for Petrochemical Products
- August 5,2021
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- SUSTG Team
Saudi-based petrochemicals giant SABIC hit a $2 billion quarterly profit in the second quarter of this year as a healthy global demand for its products drove sales, according to reports. SABIC also said it expects this solid performance to continue in the second half of 2021, “backed by healthy demand and rising oil prices,” according to Reuters.
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Jadwa Chartbook: Oil Prices Continue Climb for Third Straight Month, Benefitting Saudi Economy
- August 2,2021
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- SUSTG Team
A third straight monthly gain for oil is benefitting the Saudi economy, as SAMA FX reserves rose in June by $8.8 billion month-on-month and the non-oil PMI was unchanged at 56.4, indicating continued growth, a recently-released monthly Chartbook by Jadwa Investment for the month of June notes.
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Saudi PPP to Invest $15 Billion in New Technology Fund – Report
- July 29,2021
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- SUSTG Team
A Saudi public-private partnership will launch a $15 billion technology fund “to advance the digital infrastructure in the Kingdom,” a report in Arab News said, based on an announcement at a conference in Riyadh on Wednesday.
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Ivory Coast beat Saudi Arabia 2-1 in Kingdom’s Olympic Soccer Opener
- July 22,2021
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- SUSTG Team
The Ivory Coast beat Saudi Arabia 2-1 in the Kingdom’s opening Olympic soccer match on Thursday in Yokohama, Japan. Ivory Coast’s Franck Kessie scored the go-ahead goal in the 66th minute in a disappointing start for the Kingdom’s Tokyo dreams. On the Saudi side, Salem Al-Dossari scored the Kingdom’s lone goal in the match.
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Saudi Startups Raise Over $250m So Far in 2021, Report Says
- July 19,2021
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- SUSTG Team
Dubai-based research platform Magnitt says Saudi Arabian startups raised more than a quarter of a billion dollars in venture capital (VC) funding during the first half of 2021, as the Kingdom looks to continue to develop entrepreneurship within its borders. Magnitt says that VC funding in MENA increased by 12% from FY’20, “marking a quarterly […]
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MUST-READS
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Opinion: Yemen is More Complicated Than Biden Thinks
Now that they are in power and Biden is actively seeking solutions, the Democrats are having to reassess their previous analysis of the problem. Biden’s special envoy on Yemen, the veteran diplomat Tim Lenderking, a highly respected veteran U.S. diplomat, is confronting the stark reality that ending the war isn’t about convincing the Saudis to go — they’ve wanted to, for several years.
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Yemen’s Houthis say attacked southern Saudi airports with drones
Yemen’s Houthi movement said on Monday it had fired armed drones at an airport and air base in southern Saudi Arabia, and the Saudi-led coalition fighting the Iran-aligned group said it had intercepted an explosive drone. This appears to be the first news of Houthi drones being fired into Saudi Arabia in almost a week.
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Some progress made toward ceasefire in Yemen, U.S. State Department says
The U.S. State Department said on Thursday that “some hopeful progress” has been made toward a ceasefire in Yemen, but more commitment was needed from the parties to the civil war. The comments were in a statement on a just-concluded visit to the region by Timothy Lenderking, the U.S. special envoy for Yemen, aimed at bolstering U.N.-led efforts to end the conflict and stem a growing humanitarian disaster.
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‘This is hell’: UN food aid chief visits Yemen, fears famine
The World Food Program needs at least $815 million in Yemen aid over the next six months, but has only $300 million, the agency’s executive director, David Beasley, told The Associated Press in an interview. He said the agency would need another $1.9 billion to meet targets for the year.
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Statement by the Saudi Ambassador to the United States on Yemen
The Ambassador said the latest missile and drone attacks on Aramco facilities in Saudi Arabia “represent a threat to the stability of global energy supplies, affecting the entire global economy and endangering the lives of Saudi workers in Aramco and thousands more from 80 different nationalities, including Americans.”
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Fire in Yemen Migrant Detention Center Kills 8 and Injures 170
At least eight people, mainly of Ethiopian origin, died in a fire in detention center for migrants in Yemen’s capital, Sana’a, on Sunday. There were more than 350 migrants in a hanger near the main building of the center at the time the blaze broke out and at least 170 of them were injured, with many still in critical condition, the International Organization for Migration said in an emailed statement.
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Saudi-led coalition launches air strikes on Yemeni capital
The Saudi-led military coalition battling Yemen's Iran-aligned Houthi movement said on Sunday it conducted air strikes on Houthi military targets in Sanaa and other regions after the group launched armed drones towards Saudi Arabia.
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Saudi-backed Yemeni government says restores ties with Qatar
Yemen’s internationally recognized government said on Sunday it had restored diplomatic ties with Qatar after four years of boycott led by Saudi Arabia and joined by other Arab countries. Saudi Arabia and its allies had agreed at a summit in January to end the political row which led to Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cutting trade, travel and diplomatic ties with Qatar in mid-2017. Yemen’s Saudi-backed government had followed suit.
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Yemen’s Houthis attack Saudi oil heartland with drones, missiles
Yemen’s Houthi forces fired drones and missiles at the heart of Saudi Arabia’s oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports, in what Riyadh called a failed assault on global energy security.
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Yemen’s Houthi rebels claim missile hits Saudi oil facility
Saudi Arabia’s state-owned media did not immediately acknowledge any incident in Jiddah. But overnight, the military coalition the Saudis are leading against the rebels announced that the Houthis had fired two explosives-laden drones toward Khamis Mushait, a southwestern city home to the King Khalid Air Base, and later a ballistic missile toward the southern province of Jizan. There were no immediate reports of casualties.
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