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Future Minerals Forum wraps in Riyadh
- January 17,2025
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- SUSTG Team
The fourth Future Minerals Forum, hosting government representatives from 90 countries, including 16 G20 nations, ran from January 14 to January 16 at the King Abdulaziz International Conference Center in Riyadh.
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Tesla to enter Saudi Arabia this quarter
- January 16,2025
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- SUSTG Team
Writing for Arabian Gulf Business Insight, Megha Merani reports that Tesla is set to launch in Saudi Arabia within months.
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KAUST develops technique to extract lithium from seawater
- January 15,2025
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- SUSTG Team
A recent study by scientists at King Abdullah University of Science and Technology (KAUST), published in the journal Science, developed a new technology for directly extracting lithium from brine in oil fields and seawater, where lithium is present in extremely low concentrations.
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‘Golden Handshake’ initiative to launch in effort to boost government efficiency
- January 14,2025
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- SUSTG Team
Saudi Arabia is planning to offer cash incentives to encourage public sector employees who meet certain criteria to resign.
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Ministers from 17 countries meet in Riyadh for talks on Syria
- January 13,2025
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- SUSTG Team
The Riyadh meeting on Syria was attended by representatives of a number of countries from the Middle East and beyond, including Syria, Jordan, Lebanon, and Turkiye, as well as the UK and US. Officials from the GCC, EU and UN also took part.
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Alat and Lenovo complete a $2 billion investment and collaboration agreement
- January 10,2025
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- SUSTG Team
Lenovo, the world’s biggest maker of personal computers, will issue $2 billion in convertible bonds to Saudi Arabia’s PIF as part of a broad investment agreement that will include a new PC and server manufacturing plant.
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Jeddah to host Formula E World Championship for first time
- January 9,2025
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- SUSTG Team
After six seasons in Diriyah the Formula E World Championship will be held in Jeddah February 14 and 15.
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Saudi Deep Tech ecosystem
- January 8,2025
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- SUSTG Team
Saudi Arabia’s Ministry of Communications and Information Technology, in partnership with King Abdullah University of Science and Technology (KAUST) and Hello Tomorrow, has published a report on the Kingdom’s deep tech ecosystem.
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Saudi Arabia approves borrowing plan of $37bn for 2025
- January 7,2025
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- SUSTG Team
Finance Minister Mohammed Al Jadaan approved Saudi Arabia’s annual borrowing plan which estimates financing requirements of approximately $37 billion in 2025 to cover the expected budget deficit as well as about $10 billion in debt maturities.
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Major sporting events to be hosted by Saudi Arabia in 2025
- January 6,2025
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- SUSTG Team
With the Dakar Rally already underway from January 3 to January 17, Saudi Arabia has kicked off another year full of sporting events in 2025.
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MUST-READS
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Rubio heads to Saudi Arabia for US-Ukraine talks, then Canada for G7
U.S. Secretary of State Marco Rubio will arrive in Jeddah, Saudi Arabia, on Monday for U.S.-Ukraine talks as President Donald Trump pushes to broker a swift end to the Russia-Ukraine war, despite Russia’s latest massive aerial attacks against Ukraine’s energy infrastructure. While in Jeddah, Rubio will also meet with Saudi Crown Prince Mohammed bin Salman Al Saud to discuss ways to advance shared interests in the region and strengthen the U.S.-Saudi relationship, said State Department spokesperson Tammy Bruce. According to the State Department, Rubio has “underscored President Trump's determination to end the war as soon as possible and emphasized that all sides must take steps to secure a sustainable peace” in a Friday call with Ukrainian Foreign Minister Andrii Sybiha.
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What Went Wrong at Saudi Arabia’s Futuristic Metropolis in the Desert
The October event was the lavish opening of the first part of Neom, a planned metropolis defined by cutting-edge technology and psychedelic architecture, a cornerstone of the country’s plan to pivot its economy away from oil. The relatively simple, low-rise development, known as Sindalah, was over three years late and on track to cost nearly $4 billion, three times its initial budget. Hotels were unfinished, high winds disrupted ferries and golf, and much of the site was still under construction. Saudi Crown Prince Mohammed bin Salman, Neom’s mastermind, was a surprise no-show. Neom board documents say the party cost at least $45 million. Many Neom staff viewed his absence as a sign of disapproval. Weeks later, Neom’s boss of six years, a former crown prince favorite, left the project and a new crew of executives was installed to turn Neom around. After spending more than $50 billion, the crown prince’s sci-fi-inspired dreams—an arid-mountain ski resort, a floating business district, and the Line, the 106-mile-long pair of Empire State Building-height skyscrapers that is Neom’s centerpiece—have collided with reality.
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Saudi Arabia arrests 20,749 for residency and labour violations, deports over 10,000 in a week
A total of 20,749 people were arrested in Saudi Arabia during a nationwide inspection campaign targeting violations of residency, labour, and border security laws, the Ministry of Interior announced. The crackdown, conducted between February 27 and March 5, aimed to strengthen regulatory enforcement across the Kingdom. Authorities recorded 13,871 violations related to residency, 3,517 involving border security, and 3,361 concerning labor regulations.
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Saudi Arabia’s Strategy Attracts Around 600 Regional Headquarters of Multinational Corporations
Around 600 foreign companies have established their regional headquarters in Saudi Arabia since the 2021 launch of the Saudi Program for Attracting Regional Headquarters (RHQ) of multinational corporations to the Kingdom of Saudi Arabia's capital, spearheaded by the Ministry of Investment and the Royal Commission for Riyadh City. As part of the Vision 2030 economic diversification plan aimed at establishing Saudi Arabia as a prominent global business hub, the RHQ program offers a range of incentives to international companies. These include a 30-year tax relief package, announced in December 2023, which provides zero percent corporate income tax and withholding tax for qualifying regional headquarters. Additionally, the program streamlines the process of setting up operations in any region in the Kingdom, providing comprehensive support services to assist companies in their transition. Saudi Arabia's modern infrastructure, including advanced facilities and technology, is also a key attraction for international firms. The program further supports expatriate employees by facilitating access to international K-12 schools, with seven new schools having been established in the Kingdom.
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What can Ukraine expect from talks with US in Saudi Arabia?
Ukrainian President Volodymyr Zelenskyy is to visit Saudi Arabia next week for a planned meeting there between delegates from Ukraine and the US. If all goes according to plan, it will be the first Ukraine-US meeting since the presidents of the two countries quarreled in the White House on February 28. At those talks, US President Donald Trump and Vice President JD Vance accused Zelenskyy of being ungrateful for the US aid given to Ukraine and of being unwilling to end the war in his country. After the Oval Office catastrophe, Zelenskyy cut his US trip short and left Washington. No new meeting between Zelenskyy and Trump is to be held in Riyadh. Now, ahead of his planned visit to Saudi Arabia, he has announced on the messaging app Telegram that he is planning a meeting with the de facto Saudi ruler, Crown Prince Mohammed bin Salman, adding: "Ukraine is most interested in peace. As we told President Trump, Ukraine is working and will work exclusively constructively for a quick and reliable peace."
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Saudi Arabia spends $724 million to implement 1,072 projects to empower women in 79 countries
Saudi Arabia, represented by the King Salman Humanitarian Aid and Relief Center (KSrelief), has implemented as many as 1,072 projects dedicated for the most needy women in 79 countries around the world. Implementation of these projects, which are valued at nearly $724 million, coincide with International Women's Day, which falls on March 8 each year. The projects implemented by KSrelief included provision of assistance to Yemeni women and empowering them economically, building their capacities by providing training programs in the professional and commercial fields, and providing them with the necessary tools that help them find income-generating opportunities that contribute to improving the livelihoods of the beneficiaries and their families.
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Saudi Arabia opens 24-hour childcare centers at Grand Mosque for Ramadan worshippers
As millions of worshippers flock to the Grand Mosque in Mecca during the holy month of Ramadan, the General Authority for the Care of the Affairs of the Grand Mosque and the Prophet's Mosque has launched dedicated centers to host young children, providing round-the-clock care and educational programs. Designed for children aged 1.5 to 9 years, the centres offer a secure environment where children can engage in activities that foster learning and personal growth while their families perform religious rites. In addition to supervised learning, the centers provide meals, spaces for watching educational videos, and designated areas for rest and sleep.
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What to know ahead of the talks between the US and Ukraine in Saudi Arabia
Saudi Arabia is to host talks on Tuesday between the United States and Ukraine in a new diplomatic push after an argument erupted during President Volodymyr Zelenskyy’s Feb. 28 visit to the White House. Saudi Arabia’s Foreign Ministry in a statement on Friday identified the location for the talks as Jeddah, a port city on the Red Sea. It’s not clear why the kingdom picked Jeddah as opposed to Riyadh, the Saudi capital where the initial Russia-U.S. talks took place on Feb. 18. However, Jeddah has hosted other diplomatic engagements in the past and is home to royal palaces. Zelenskyy plans to visit Saudi Arabia on Monday ahead of the talks. He earlier delayed a trip to the kingdom after traveling to the neighboring United Arab Emirates, which also has been considered as a possible venue for peace talks between Kyiv and Moscow.
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Carbon Markets and Saudi Arabia: A Review of Options and Analysis of Carbon Crediting Potential
The Kingdom of Saudi Arabia has been taking steps towards carbon market development to stimulate domestic and international climate action. In 2022, the government announced a domestic greenhouse gas (GHG) crediting mechanism – the Greenhouse Gas Crediting and Offsetting Mechanism (GCOM) – which will be the first government-led carbon crediting mechanism to be set up in the Gulf region. In parallel, Saudi Arabia’s largest sovereign wealth fund, the Public Investment Fund (PIF), has established the Regional Voluntary Carbon Market Company (RVCMC) that is providing a marketplace for internationally traded carbon credits.
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Firms prepare bids for Saudi Arabia’s 2km tower
Saudi Arabia’s Public Investment Fund (PIF) has invited firms to bid for the project management consultancy (PMC) on a new central business district (CBD) on the outskirts of Riyadh, which includes the proposed 2-kilometre megatall tower project. The PMC role covers both the tower and the surrounding district. The request for proposals (RFP) is understood to have been issued by a PIF subsidiary known as the Tower District Real Estate Development Company. The initial close date was 4 March, which has now been extended to 20 March. The prospective bidders include Aecom, Bechtel, Jacobs, Parsons and Turner, all US-based, and the UK’s Mace. UK-based Foster & Partners is working as the architect on the megatall tower after it won a design competition launched in late 2022.
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