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Recent stories from sustg
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Crown Prince Mohammed bin Salman visits Harvard, MIT in Boston
Crown Prince Mohammed bin Salman visited Harvard University and MIT in Boston, Massachusetts over the weekend to tour two of America’s premiere higher education campuses and talk about the importance of research and entrepreneurship to Vision 2030. The visit to Boston is the second stop in a weeks long tour across the United States, his first […]
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State Department Approves $1 Billion in New Military Sales to Saudi Arabia
The State Department approved a possible sale of $670 million in TOW 2B (BGM-71F-Series) missiles to Saudi Arabia, according to a release from the Defense Security Cooperation Agency (DSCA). Together, with a new $300 million sale for spare vehicle parts for the Royal Saudi Land Forces Ordnance Corps, the new deals announced amount to nearly $1 billion. Defense Secretary James Mattis on […]
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Crown Prince Mohammed bin Salman Kicks Off Two Week U.S. Visit Today with Meeting at White House
Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in Washington, D.C. last night and will kick off a two week, multi-city U.S. tour with a meeting today at the White House. The Saudi embassy in Washington, D.C. issued a release providing further details on the trip, noting that in addition to meeting with President Trump […]
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Shrugging Off Uncertainty, Investors Pour Money into Saudi Arabia with ‘Strong Underlying Fundamentals’
Saudi Arabia is “the hottest emerging market” right now as investors appear to be shrugging off concerns surrounding last year’s crackdown on corruption and with optimism surrounding Vision 2030’s economic and social reforms now coming into effect, CNN Money reports. “Equity funds investing in Saudi Arabia saw net inflows of $110 million between the start […]
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Saudi Arabia, United Kingdom Pledge Billions in Bilateral Trade and Investments
Saudi Arabia and the United Kingdom re-affirmed bi-lateral trade and investment ties on the second day of Crown Prince Mohammed bin Salman’s visit in London with billions in deals eyed in the coming years. Saudi Arabia’s crown prince and the U.K.’s prime minister launched an economic and investment partnership called the U.K.-Saudi Arabia Strategic Partnership […]
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Saudi Crown Prince Mohammed bin Salman Adds Egypt Leg to International Trip
Saudi Arabia’s Crown Prince Mohammed bin Salman will begin a weeks long international tour with a three day visit to Egypt, according to a Reuters report citing confirmation from the office of Egypt’s president Abdel Fattah Al-Sisi. Egypt and Saudi Arabia have enjoyed strong ties since Al-Sisi took power and ousted the Muslim Brotherhood in 2013. […]
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New Life-Sized Camel Sculptures Discovered in Saudi Arabia May Date Back 2,000 Years
Archaeologists from France’s National Center for Scientific Research (CRNS) and their colleagues from the Saudi Commission for Tourism and National Heritage (SCTH) have discovered camelid sculptures “unlike any others in the region” dating back to the first centuries BC or AD, according to a press release from the CRNS. The find sheds new light on the evolution […]
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ACWA Power Wins First Utility-Scale Solar Energy Project in Saudi Arabia
Saudi Arabia has announced that ACWA Power, the Saudi power generation and desalination company, has won the contract for the first utility scale solar power project in Saudi Arabia with a record-breaking tariff of 2.34 US-cents per kilowatt-hour, according to reports. ACWA Power announced the win on its website on Tuesday. “This plant is the first of what […]
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Saudi Aramco CEO Says Company Eying U.S. Expansion
Saudi Aramco’s CEO Amin Nasser said the company was eying expansion in the United States “where President Donald Trump’s tax cuts and support for the oil industry are making business increasingly attractive,” Reuters reports. Nasser also lauded the Trump administration as being friendly toward the oil industry. “The Trump administration has been positive towards the energy […]
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House Speaker Ryan meets Saudi King Salman in Riyadh
U.S. House Speaker Paul Ryan is leading a Congressional delegation to the Middle East, meeting with Saudi King Salman Wednesday in the first regional stop for talks centered on security, the Associated Press reports. The week-long Congressional Delegation (CODEL) trip to the Middle East “will focus on regional stability, the campaign against ISIS and terrorism, […]
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MUST-READS
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Explainer: What is a global minimum tax and what will it mean?
Major economies are aiming to discourage multinationals from shifting profits - and tax revenues - to low-tax countries regardless of where their sales are made.
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From relegation to riches? Meet the French second division club bought by a Saudi prince
La Berrichonne de Châteauroux are a second division football team from a small town in central France with a long history and deep ties to the local community. They now have one of the richest owners in French football, since Saudi prince Abdullah bin Musa'ad bought the team in March. The buyout has fans dreaming of a bright future, but why would a wealthy investor take over a struggling small-town club? Can he deliver the on-field success the fans crave?
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Net zero’s surprise winners? Middle East oil producers: Video
Helima Croft of RBC Capital Markets on how the Middle East is best positioned for the energy transition
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Opinion: Turkey can play a constructive role in Libya. But will it?
But in two weeks, Nato’s 30 members will gather at the alliance’s headquarters in Brussels. That summit offers Turkey the perfect opportunity to cozy up to its allies by announcing a major shift in its role in Libya, from primarily military to chiefly economic and political, and from focusing on relationships with Islamists and militia leaders to building institutions. I do not expect it to happen, but that does not mean it would be any less welcome, to Libya and the international community.
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What’s next for Saudi Arabia’s booming VC sector?
Five years into the Saudi Vision 2030 programme, venture capital (VC) funding in Saudi Arabia has risen to an all time high with a recorded $151.9 million in investment raised across 88 deals in 2020. This marks a 124 per cent rise from 2018 to 2020, and a huge increase from the recorded pre-Vision rate of only $7.9 million in funding.
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Oasis or mirage? Saudi Arabia’s green-funded ‘giga-project’
Due for completion in 2030, the so-called ‘giga-project’ will spread across 22 of the 90 islands that form an archipelago off Saudi Arabia’s west coast, as well as inland, and offer 50 hotels with 8,000 hotel rooms (see map below). The islands without hotels will remain untouched, with nine designated as special conservation zones.
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Will Riyadh’s rise bring tourists and FDI to Jeddah?
A test of the attractiveness of Jeddah as an investment location for international companies will be the programme of infrastructure projects that the government wants to undertake. Jeddah, like the much of the rest of Saudi Arabia, has a soaring population, putting increasing pressure on public services and accelerating the need to create new jobs.
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Israel-Gaza: How much money does Israel get from the US?
In 2020, the US gave $3.8bn (£2.7bn) in aid to Israel - part of a long-term, yearly commitment made under the Obama administration. Almost all of this aid was for military assistance. This support came as part of an agreement signed by former president Barack Obama in 2016 for an overall package of $38bn (26.8bn) in military aid over the decade 2017-2028.
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What Are The Challenges Facing The Performing Arts in Saudi?
The commission will implement 26 initiatives in stages between now and 2030 to serve and develop the sector. They fall under six guiding principles: Talent development, which includes eight initiatives: education, training and talent-discovery; school theater; house of Ardha and house of Samri; cultural business incubator; theater academy; career development initiative; sector graduate recruitment; and sector awards.
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