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Recent stories from sustg
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Jadwa Investment: Saudi GDP to Grow 7.7% in 2022
- February 17,2022
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- SUSTG Team
Saudi Arabia’s economy will “exhibit strong levels of growth in 2022, as pandemic related uncertainty and volatility seen over the last couple of years diminishes,” according to a new report from Riyadh-based Jadwa Investment, which said that the Kingdom’s overall GDP will expand by 7.7 percent in 2022.
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Saudi Arabia Transfers 4% of Aramco Shares Valued at $80 billion to Public Investment Fund
- February 14,2022
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- SUSTG Team
Saudi Arabia transferred shares worth about $80 billion in oil giant Aramco to the Public Investment Fund as part of efforts to move forward economic diversification efforts, according to reports.
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Fitch, Moody’s Rates Public Investment Fund of Saudi Arabia ‘A’ and ‘A1’; Outlook Stable
- February 8,2022
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) has been assigned debut ratings by agencies Fitch and Moody’s, receiving an ‘A’ rating and ‘A1’ rating, respectively.
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KAPSARC’s Adam Sieminski joins The 966 to talk renewable energy and the circular carbon economy
- January 21,2022
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- SUSTG Team
The 966 welcomes a special guest for Episode 22 from Riyadh: Adam Sieminski, who just finished serving as President of KAPSARC, the leading think tank based in Saudi Arabia. Adam previously was the head of the U.S. Energy Information Agency, and was the senior director for energy and environment on the U.S. National Security Council […]
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Saudi Arabia Set to Send First Athlete to Winter Games in Beijing
- January 17,2022
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- SUSTG Team
The Kingdom of Saudi Arabia will be participating for the first time in history in the Winter Olympic Games in Beijing, China.
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The 966 Episode 21: A deep dive on the homegrown Saudi defense industry and the U.S.-Saudi security relationship with David Des Roches
- January 14,2022
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- SUSTG Team
Episode 21 of The 966 has the hosts welcoming special guest and security expert David Des Roches, Associate Professor at the National Defense University and a Non-Resident Fellow, AGSIW. Des Roches joins The 966 to discuss the status of the U.S.-Saudi security relationship and how Saudi Arabia is progressing in its efforts to develop a homegrown […]
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Episode 17: The Diriyah Art Biennale, The Red Sea Film Festival wraps, Philosophy in Saudi, and Expo Saudi 2030?
- December 17,2021
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- SUSTG Team
This week, the hosts discuss the Kingdom’s 2022 budget, the Diriyah Art Biennale ongoing now outside of Riyadh, the Red Sea film festival, a philosophical discussion in Saudi Arabia, and whether the Kingdom will host Expo 2030.
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Tadawul IPO Surges in Debut, CEO Says 50 Companies have Applied for 2022 Listing
- December 9,2021
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- SUSTG Team
Saudi Tadawul Group’s IPO raised $1 billion, with shares rising as much as 22% on Wednesday, marking the biggest exchange IPO since Euronext went public in 2014.
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Saudi Arabia Announces Two New Mega-Development Plans in a Week
- November 17,2021
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- SUSTG Team
Saudi Arabia is full steam ahead with ambitious, large-scale new developments in the Kingdom, with two new projects announced this week alone.
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Saudi Telecom to Build Region’s Largest Cloud-Enabled Data Center with $400 Million Investment
- November 15,2021
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- SUSTG Team
Saudi Telecom Co (STC), the biggest telecommunications company in the Middle East, will invest 1.5 billion riyals ($400 million) “to build the largest cloud-enabled data center in the region as the oil rich-kingdom seeks to become a center for digitalization,” Bloomberg reports, citing a spokesman for the company.
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MUST-READS
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Trump turns vs hawkish ex aides as he hopes for deal with Iran
Trump on Wednesday said he hoped that his administration could reach a deal with Iran that would avoid the prospect of potential military action by Israel or others. “Iran, hopefully, will make a deal,” Trump told reporters at the White House on Wednesday. “And if they don’t make a deal, I guess that’s okay too.” Trump confirmed that he had ordered the removal of U.S. government security details for his former National Security Advisor John Bolton, former Secretary of State Mike Pompeo, and his former Iran envoy Brian Hook, as well as for former top U.S. infectious diseases expert Dr. Anthony Fauci, who advised the Trump administration during the covid-19 pandemic, and became the target of wrath from some on the far-right upset about covid lockdowns. Trump said today that he would feel no sense of responsibility were any of them to be targeted by violence as a result of his actions.
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The Best Universities in the World
The latest global university ranking has been released by Times Higher Education, putting the UK's Oxford University at the top of the pile once again. Institutions are ranked based on five indicators: teaching, research environment, research quality, international outlook and industry income/patents. On this basis, the United Kingdom and United States completely dominate the top of the list, with no universities from other countries in the top 10 and only around 20 out of the top 50 universities in the world located in other countries. The best-performing among them is Switzerland's ETH Zurich in rank 11, which focuses on STEM subjects. This is followed by two Beijing schools in ranks 12 and 13. Further down, schools from Singapore, Canada, Germany and Hong Kong make appearances in the top 50 of the world's best universities, as well as one school each from Australia, France, Belgium and Japan.
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The impacts of the 2034 FIFA World Cup to Saudi Arabia’s economy
The World Cup is expected to act as a catalyst for economic growth across multiple sectors. Based on estimates from previous World Cups, host nations experience a GDP boost ranging from $3 billion to $14 billion. In Saudi Arabia’s case, the financial impact could be even more significant, given the Kingdom’s ambitious plans to position itself as a global hub for sports and entertainment. The World Cup will put Saudi Arabia on the map as a premier tourist destination. Qatar’s hosting of the 2022 FIFA World Cup attracted 1.4 million visitors and generated over $17 billion in tourism revenue. Saudi Arabia, with its rich cultural heritage and mega-projects like NEOM, Diriyah, and the Red Sea Project, aims to exceed these benchmarks. The World Cup is expected to create thousands of jobs in construction, hospitality, event management, and retail. Saudi nationals will benefit directly, contributing to Saudization goals under Vision 2030. Training initiatives focused on sustainability, human rights, and event management will ensure that the workforce meets global standards.
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Rick Shiels partnering with LIV Golf as ambassador
YouTube star Rick Shiels, who has nearly three million subscribers on his main channel, announced on Friday that he has signed a partnership with LIV Golf, the Saudi-backed golf league, and will now serve as an ambassador for the league. To be clear, Shiels, who was a teaching pro in England before his golf instruction and equipment review videos exploded on YouTube, will not be competing in LIV Golf events. Instead, he will be filming content at every LIV Golf venue ahead of the league's tournaments that will promote and show off the courses, players and atmosphere.
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AWS announces new edge location in the Kingdom of Saudi Arabia
Amazon Web Services (AWS) announces expansion in the Kingdom of Saudi Arabia by launching a new Amazon CloudFront edge location in Jeddah. The new AWS edge location brings the full suite of benefits provided by Amazon CloudFront, a secure, highly distributed, and scalable content delivery network (CDN) that delivers static and dynamic content, APIs, and live and on-demand video with low latency and high performance. All Amazon CloudFront edge locations are protected against infrastructure-level DDoS threats with AWS Shield Standard that uses always-on network flow monitoring and in-line mitigation to minimize application latency and downtime. You also have the ability to add additional layers of security for applications to protect them against common web exploits and bot attacks by enabling AWS Web Application Firewall (WAF).
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Saudi Arabia in talks to host MMA facility at Qiddiya
Saudi Arabia has been identified as a potential host for a multi-use mixed martial arts facility akin to the Ford Center at The Star in the US, the head of MMA organisation the Professional Fighters League (PFL) has said. The Star is a partnership between the city of Frisco in Texas and the Dallas Cowboys football team. The $1.5 billion project, totalling 400,000 square feet, features more than 30 flexible event spaces that include a 12,000-seat indoor venue. Donn Davis, chairman and founder of the PFL, said early discussions with officials in Saudi Arabia about a similar project had already taken place. It would be based in the kingdom’s $9.8 billion sports and entertainment giga-project Qiddiya.
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Saudi: Diriyah Storytelling Festival celebrates literature, creativity
The Diriyah Storytelling Festival, a vibrant event for literature lovers, will begin on January 30. The much-anticipated event promises a rich cultural experience, running until February 8 and will be hosted at three iconic locations in Diriyah: Bujairi Terrace, Bab Samhan Hotel and Al-Dhawihra Farm. These venues will provide distinctive backdrops for a variety of immersive activities. The festival will host more than 150 speakers, experts and performers in the field of literature. This impressive lineup is complemented by the participation of over 50 publishing houses and specialized libraries, setting the stage for meaningful interactions between visitors and industry experts.
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Behind Saudi Aramco’s Pivot Toward Sustainable Manufacturing
The soaring demand for lithium, which has tripled over the past five years and is expected to surge exponentially with the rise in EV production and renewable energy deployments, Aramco positions at the forefront of the critical minerals market. Through its partnership with Ma'aden, the largest mining company in the Middle East and North Africa, Aramco is not just participating but potentially leading the lithium supply chain development. By joining forces with Ma'aden, Aramco is significantly enhancing its capabilities in the lithium sector. This partnership merges Aramco's technological prowess and geological knowledge with Ma'aden's mining expertise, setting the stage for a robust lithium production base in Saudi Arabia.
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How Dubai Chocolate Took Over the World
She’d never made chocolate before. But, undeterred and halfway through her pregnancy, she began working from her living room, with the elements of knafeh (cream or akkawi cheese, shredded phyllo known as kataifi, nuts or date syrup, and orange blossom or rose water) in mind. Eventually, her “Can’t Get Knafeh of It” bar was born, a milk chocolate shell bursting with pistachio cream and kataifi and adorned with bright yellow and electric green splotches. Mrs. Hamouda had no idea that it would take on a life of its own, earning the nickname “Dubai chocolate” among fans online and spurring countless imitations. In fact, when the couple opened their online shop in 2022, FIX Dessert Chocolatier — FIX, they said, stands for Freaking Incredible eXperience — “we were selling about a bar a week,” said Yezen Alani, Mrs. Hamouda’s husband.
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Saudi Arabia to raise localization rates in 269 professions
The Ministry of Human Resources and Social Development (MHRSD) announced the issuance of a series of decisions aimed to raise the Saudization rates in as many as 269 professions across various sectors. According to the decision, it is mandatory to implement 55 percent Saudization in pharmacy activities and 65 percent Saudization in pharmacy activities associated with hospitals effective from July 27, 2025. The Saudization drive will be implemented in partnership with a number of supervisory bodies such as the Ministry of Health, the Ministry of Commerce, and the Ministry of Municipalities and Housing. The decisions included localizing the professions of dentistry, pharmacy, accounting, and engineering technical professions. These decisions come within the framework of efforts aimed at providing more stimulating and productive job opportunities for male and female citizens in various regions of the Kingdom, the Saudi Press Agency reported.
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