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Saudi Arabia’s Real Estate Refinance Co. to Acquire Mortgages Worth $800 Million
- July 20,2020
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- SUSTG Team
Saudi Arabia’s Saudi Real Estate Refinance Co. (SRC), an arm of the Public Investment Fund (PIF), will acquire mortgages worth SR3 billion ($800 million) from the Public Pension Agency (PPA), according to reports.
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Coming Soon to Saudi Arabia: A ‘World Defense Show’ to Rival Abu Dhabi’s IDEX
- July 17,2020
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- SUSTG Team
Saudi Arabia’s General Authority for Military Industries (GAMI) announced the launch of a new bi-annual “World Defense Show” that will rival neighboring Abu Dhabi’s IDEX, according to a press release.
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U.S., Saudi-Chaired Body Created to Fight Terrorism Financing Sanctions Six
- July 16,2020
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- SUSTG Team
Members of the Terrorist Financing Targeting Center (TFTC), a 2017-created body co-chaired by the U.S. and Saudi Arabia to fight terrorist financing, jointly designated six targets affiliated with the Islamic State of Iraq and Syria (ISIS), according to the U.S. Treasury Department.
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Saudi Arabia’s Stock Market to Launch ‘Saudi Futures 30’ on August 30th
- July 15,2020
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- SUSTG Team
Saudi Arbaia’s Stock Exchange (Tadawul) announced that it will launch an exchange-traded derivatives product, the Saudi Futures 30 (SF30), on August 30th in a bid to attract investment interest into the Kingdom, according to reports.
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Unemployment for Saudis Declines in Latest Labor Figures before Pandemic
- July 14,2020
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- SUSTG Team
Saudi Arabia saw progress in employment for its nationals in the latest labor market figures for Q1 2020, with the General Authority for Statistics’ noting that unemployment among Saudi nationals declined to 11.8 percent in Q1 2020, down from 12 percent in Q4 2019, according to Jadwa Investment.
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Saudi Company Behind Red Sea Tourism Development Awards Airport Contracts
- July 13,2020
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- SUSTG Team
Saudi Arabia’s Red Sea Development Company, whose mission is to develop and create a massive new tourism project on Saudi Arabia’s Red Sea coast, said it had awarded infrastructure contracts for an international airport that is due to open in 2022, Reuters reports.
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Before the Pandemic, Saudi Arabia’s Tourism Sector Showed Encouraging Rates of Growth
- July 9,2020
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- SUSTG Team
Before the global pandemic and resulting economic slowdown, Saudi Arabia registered significant growth in one of its key industries of focus in 2019 as the Kingdom looks to diversify its economy away from oil, an encouraging sign of progress that could be resumed when Coronavirus fears wane. Inbound tourism in Saudi Arabia was up a […]
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U.S. Corporation Air Products and Chemicals, NEOM, and ACWA Power Sign Accord for $5b Renewable Energy-Powered Ammonia Plant
- July 8,2020
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- SUSTG Team
U.S. corporation Air Products and Chemicals signed an accord with Saudi-based ACWA Power International and the kingdom’s planned futuristic city of NEOM to develop a $5 billion hydrogen-based ammonia plant powered by renewable energy, according to reports.
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Despite Downturn, Kingdom Presses Ahead with Ambitious Goals for Saudi Capital Riyadh
- July 7,2020
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- SUSTG Team
Saudi Arabia is seeking to “double the size and population” of its capital Riyadh in the next decade, Reuters reports, citing comments from Fahd Al-Rasheed, president of Riyadh’s royal commission. Al-Rasheed said the government has “already committed some $266.6 billion for ongoing and new projects as part of total investments of some $800 billion over the […]
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Saudi Arabia’s Central Bank Governor Sees ‘Light at the End of the Tunnel’ for Saudi Economy
- July 6,2020
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- SUSTG Team
Saudi Arabia’s central bank governor said it’s “too early” to tell if the Kingdom’s economy will bounce back with a V-shaped recovery as the government loosens coronavirus-related restrictions, according to a Bloomberg report.
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MUST-READS
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Saudi Vision 2030Structural challenges may thwart Saudi Arabia’s diversification
But although Riyadh has been pursuing a diversification policy ever since its first Five Year plan in 1970, progress has always been hindered by structural blockages, which are still in place today, warned Steffen Hertog, associate professor at the London School of Economics.
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Obama Visit: April 2016Obama meets with King Salman at start of Saudi Arabia visit
President Barack Obama opened a brief trip to Saudi Arabia on Wednesday with a one-on-one meeting with King Salman in Riyadh.
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Vision for the Kingdom of Saudi ArabiaSaudi Arabia’s Post-Oil Plan Starts April 25, Prince Says
The “Vision for the Kingdom of Saudi Arabia” will encompass several developmental, economic, social and other programs, Prince Mohammed said in an interview on Thursday at King Salman’s private farm in Diriyah, the original home of the Al Saud royal family.
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The College for Business and Entrepreneurship at KAECLockheed Martin, Babson Global and KAEC Support New College for Entrepreneurship in Saudi Arabia
Three leading entities have joined to create an elite educational institution located at King Abdullah Economic City (KAEC) in Saudi Arabia and modeled after Babson College’s top-ranked entrepreneurship education programs in the United States.
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KAECSix Saudi teams in the MIT Enterprise Forum Arab Startup Competition 2016
Six teams from the Kingdom have qualified for the finals of the MIT Enterprise Forum Arab Startup Competition 2016. A total of 76 competing teams from 15 Arab countries reached the semi final stage. The competition’s finalists and ultimate winners will be revealed at a gala event at King Abdullah Economic City on Thursday.
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ISIS and Arab Youth5 charts that show how young Arabs really feel about the Islamic State
These five charts detail the ASDA’A Burson-Marsteller poll's key findings on the relationship between the Islamic State and Arab youth.
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ConnectivitySmartphone users in Saudi Arabia have a strong interest in new, future services
The latest Ericsson ConsumerLab report “Evolving Expectations”, pointed out that the mobile broadband usage behavior in Saudi Arabia stands out compared to the global markets
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Labor Force ParticipationSaudi Arabia Labor Force Participation Rate | 1999-2016 |
Labor Force Participation Rate in Saudi Arabia increased to 54 percent in the fourth quarter of 2015 from 53.60 percent in the second quarter of 2015.
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Economic ReformThe Middle East in 2016 (part 3): Saudi Arabia, Iran and the economics of change
Despite having quite different economies, Saudi Arabia and Iran share a common problem.
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Contemporary ArtBold Contemporary-Art Scene Emerges in Saudi Arabia
That such artists, and their brand of art, is flourishing in Saudi Arabia is a sign of the country’s many contradictions.
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