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Saudi Arabia’s June Non-Oil Exports Rise by 41%; Oil Exports Rise 123% to Over $16 billion
- August 24,2021
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- SUSTG Team
The value of Saudi Arabia’s non-oil exports, a key indicator for the Kingdom’s ongoing effort to diversify its economy, soared 41% in the month of June, according to reports citing official data released by the government on Tuesday.
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IATA Lauds Saudi Embrace of Travel Pass for Covid Vaccination Clearance
- August 19,2021
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- SUSTG Team
The International Air Transport Association (IATA) said in a press release that it welcomed the decision of the General Authority of Civil Aviation (GACA) of the Kingdom of Saudi Arabia to accept IATA Travel Pass to confirm pre-departure COVID-19 test results for departing and arriving passengers starting 30th of September 2021.
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Saudi Issues Record Number of Foreign Investor Licenses in a Single Quarter, MISA Says
- August 11,2021
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- SUSTG Team
Saudi Arabia’s Ministry of Investment (MISA) reported issuing 478 new licenses in the first quarter of 2021, “the most number in a single quarter since records began in 2005” and a 36% increase from the same quarter last year, according to reports.
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Daily New COVID-19 Cases in Saudi Arabia Fall Below 1,000 for First Time in Two Months
- August 6,2021
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- SUSTG Team
Daily new COVID-19 cases in Saudi Arabia fell below the 1,000-mark on Thursday for the first time since June 6, according to official figures, with 986 individuals infected over the past 24 hours.
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Saudi Mortgage Lending Surges 27% in First Half of 2021 — SAMA Data
- August 3,2021
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- SUSTG Team
Residential mortgage financing in Saudi Arabia has soared in 2021, increasing 27% so far this year despite a slowdown in the 2nd quarter, according to recent data released by the Saudi Arabian Monetary Authority (SAMA) and reported by Zawya.
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Saudi Arabia Steps Up Pressure on Residents to Vaccinate with New Restrictions on Public Spaces
- July 21,2021
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- SUSTG Team
Saudi Arabia is stepping up pressure on its citizens and residents to receive both doses of a COVID-19 vaccine with a new announcement confirming that most public spaces, malls, and other areas will be open to only those who are vaccinated, according to Arab News.
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Saudi Arabia Vaccination Drive Accelerates as Toll Passes 8,000 in Kingdom, Deadline Looms
- July 15,2021
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- SUSTG Team
Saudi Arabia’s daily Coronavirus vaccination rates passed 400,000 as the government continued to emphasize the importance of the jab ahead of a key deadline in which citizens and residents will need to prove they have received the vaccine to take part in many normal daily activities.
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Saudi Prince Khaled bin Salman Visits Washington, Meets with Top Biden Officials; U.S., Saudi Speak on Oil
- July 7,2021
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- SUSTG Team
Saudi Arabia’s deputy defense minister and former ambassador to the United States Prince Khaled bin Salman on Tuesday became the highest-ranking Saudi envoy to visit Washington since Joe Biden became president in January, Reuters reports. The prince represented the Kingdom in talks with senior Biden officials on the Yemen war and threats from Iran. Prince Khaled met […]
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Saudi Arabia to Invest Over $133 Billion in Transportation Sector as Details of New Plan Emerge
- July 6,2021
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- SUSTG Team
New details are emerging regarding Saudi Arabia’s new plans to turbocharge growth in the Kingdom’s transportation sector and place it in more direct competition with the UAE as a hub connecting east and west, according to comments from the Kingdom’s transportation minister this week. Saudi Arabia will invest over 500 billion riyals ($133.34 billion) in airports, […]
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Will Oil Reach $100 Soon? Traders, Industry Execs See Oil Rising Higher
- June 23,2021
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- SUSTG Team
In April last year, at the height of the pandemic crisis that touched every corner of the globe, oil prices collapsed in a spectacular fashion as demand plummeted and supply continued apace, leaving suppliers in some cases without a place to store their excess crude oil. US oil prices plunged, falling below $0 to $-37.63 a barrel – […]
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MUST-READS
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Saudi Sports for All Federation Unveils Riyadh Marathon Route, Venues, and Sponsors for Inaugural SFA International Sporting Events
The SFA Expo will serve as the marathon’s bib collection hub and will feature interactive zones focused on sports, health, and fitness, showcasing cutting-edge equipment, wellness activities, and emerging technologies. The event will also include a B2B lounge for industry networking, and workshops on mindfulness and nutrition. Another highlight will be the Primal Race on Friday, February 7, a functional fitness challenge featuring a series of high-intensity activities interspersed with 400m group runs.
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Saudi Aramco Joins The Open Group as Platinum Member
The Open Group, the vendor-neutral technology standards organization, has today announced that Saudi Aramco has become its latest Platinum Member. In this capacity, Saudi Aramco will have the opportunity to expand its presence across The Open Group Forums, take a leadership position, and have representation on the Governing Board. Saudi Aramco first joined The Open Group in 2016 as a Member of the Open Process Automation™ Forum (OPAF). The company has since collaborated with industry leaders on an O-PAS™ Automation Test Bed, assessing and validating next-generation open and interoperable technologies. In 2020, Saudi Aramco also became a member of The Open Group OSDU® Forum, joining industry peers in developing transformational technology to support the world’s changing energy needs.
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Saudi Arabia’s Billion-Dollar VC Boom: How SVC Is Shaping The Kingdom’s Financial Future
Saudi Arabia has solidified its position as the top destination for venture capital (VC) investments in the Middle East and North Africa (MENA) region for the second consecutive year. According to data from MAGNiTT, the Kingdom secured $750 million in VC funding in 2024, accounting for 40 percent of total regional VC capital. The nation also witnessed a 16 percent increase in deal flow, closing 178 deals—the highest in the region. The United Arab Emirates (UAE) followed with $613 million in VC investments across 188 deals, leading the region in deal volume and achieving 12 exits.
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Sony Pictures Classics Acquires Haifaa Al Mansour’s Saudi Thriller ‘Unidentified’
Sony Pictures Classics has acquired “Unidentified,” the latest feature from groundbreaking Saudi director Haifaa Al Mansour. The film reunites Al Mansour with SPC 13 years after it came aboard her landmark 2012 debut “Wadjda,” which became the first feature to be shot entirely in Saudi Arabia, the first feature shot by a female Saudi director and the first Saudi Oscar submission. Currently in post-production and described as a contemporary Arab-language thriller, “Unidentified” — written and produced by Al Mansour and Brad Niemann (“The Perfect Candidate”) — stars Mila Al Zahrani (“The Perfect Candidate”) and Shafi Al Harthi (“A Woman’s Life”).
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Riyadh’s Grand Wedding of 300 Couples Goes Viral
Talk about a wedding of the century! Riyadh just pulled off the most epic mass wedding, uniting 300 Saudi couples in a night full of love, music, and jaw-dropping surprises. Hosted by the General Entertainment Authority (GEA) as part of Riyadh Season, the “Night of a Lifetime” has left the internet in total awe. Talk about a wedding of the century! Riyadh just pulled off the most epic mass wedding, uniting 300 Saudi couples in a night full of love, music, and jaw-dropping surprises. Hosted by the General Entertainment Authority (GEA) as part of Riyadh Season, the “Night of a Lifetime” has left the internet in total awe.
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Oil prices attempt to bounce off 2025 lows after Saudi Arabia raises crude prices
Oil futures ticked higher early Thursday, seeing a modest bounce off 2025 lows after Saudi Arabia's state-owned petroleum company significantly raised physical crude prices for Asia. WTI and Brent ended Wednesday at their lowest since December, sinking on worries over U.S. tariffs on China and data that showed a large jump in U.S. crude inventories last week. Saudi Aramco, the world's largest oil company, on Thursday said it had significantly raised the price of physical crude for Asian buyers. Aramco raised the March price of its flagship Arab light crude to Asia to $3.90 a barrel over the Oman/Dubai crude benchmark, an increase of $2.90 a barrel from February.
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Saudi Arabia removes restrictions on foreign on-demand charter flights
The move builds on impressive growth in Saudi’s private aviation market with 23, 612 business jet flights recorded in 2024, an increase of more than 4,600 flights on 2923 figures. Domestic flights accounted to 9,206 (+26% on 2023) movements last year. In line with Saudi Arabia’s aviation strategy as part of Vision 2030, GACA’s General Aviation Roadmap was launched in May 2024 to establish the country as a general aviation hub in the region. There is currently an unprecedented infrastructure programme underway to establish new private airports and terminals across the Kingdom. GACA’s roadmap will deliver six dedicated business aviation airports and a further nine dedicated business aviation hubs. It will also increase the FBO and MRO capacity for business jets.
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King Salman, Crown Prince put Saudi back on track: Prince Alwaleed
He expressed optimism about Saudi Arabia’s progress, highlighting that his investments span various sectors, including tourism, hotel management, commercial real estate, industrial projects, etc. The Crown Prince possesses boundless energy, and foresight, and is a strong strategist for the coming years, Prince Alwaleed said, adding that long-term planning for 10-15 years ahead is an essential quality for any leader.
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Out With the Old, In With the New: Is There a New Hope for Lebanon?
Politics in Lebanon has been based on sectarian power sharing that guarantees representation to all 18 sects, including through an informal arrangement that divides ministerial portfolios by sectarian identity and applies quotas to government posts. This system sustains a weak and patronage-based system through which competing bureaucratic fiefdoms vie for power. Quotas have been treated like entitlements, helping those in control channel state resources to their followers and allies. On top of this has been Hezbollah’s “blocking third’’ in the government that has given the group veto power over cabinet decisions and the ability to topple the government.
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Revolutionary Legitimacy in Syria: Sharaa as President
The December 8, 2024, collapse of the Assad regime necessitated a strategy for the new Syrian administration to garner the legal and constitutional cover to lead a transition from authoritarianism. Many ideas have surfaced, such as a call for a national dialogue conference with the participation of some 1,200 delegates. But the task of organizing such a conference during a fraught transitional period prompted the new authorities to postpone it, pending better circumstances. The second option, which was selected, was to move forward with the concept of revolutionary legitimacy, a temporary and exceptional concept that expires with the end of the revolutionary stage or transitional period.
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