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Qiddiya Awards $2.6 billion In Contracts to ‘Speed Up Development’; Diriyah Gate ‘Full Speed Ahead’
- July 3,2020
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- SUSTG Team
Qiddiya, the mega-entertainment complex just outside of Riyadh that is set to transform the leisure landscape in the Saudi capital, announced on Thursday “at least SR10 billion ($2.66 billion) worth of contracts” will be awarded to various companies “to speed up construction,” according to reports.
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KAUST Studies How Saudi Arabia’s Red Sea’s Coral Reefs Help Protect the Kingdom’s Coastline
- July 2,2020
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- SUSTG Team
Modeling done by Saudi Arabia’s King Abdullah University for Science and Technology (KAUST) reveals the important role of offshore reefs in the Red Sea in protecting the Kingdom’s coastal zones and highlights the need to conserve the region’s coral reefs.
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Easing of Lockdown in Saudi Arabia Beginning to Show in Economic Data, Jadwa Report says
- July 1,2020
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- SUSTG Team
The partial easing of lockdown restrictions in May was reflected in some economic indicators during the month, Jadwa Investment reports in its latest economic chartbook for that month.
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Life in Saudi Arabia: After Weeks of Lockdown, Savvy Saudi Shoppers Hunt for Bargains Ahead of VAT Deadline
- June 30,2020
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- SUSTG Team
After weeks in lockdown with access to stores and malls restricted, Saudi shoppers found themselves under a time crunch to hunt for deals ahead of a planned increase in the Kingdom’s Value Added Tax (VAT) on July 1.
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Report: Kingdom Owns a Majority Stake in Tesla Rival Lucid Motors
- June 26,2020
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- SUSTG Team
Saudi Arabia has amassed a more than 50% stake in California EV startup and Tesla rival Lucid Motors, according to a report in The Verge.
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AMAALA, the Luxury Planned Seaside Resort on Saudi Arabia’s Northwest Coast, Picks Impressive Design for International Airport
- June 25,2020
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- SUSTG Team
AMAALA, the ultra-luxury planned travel destination located along Saudi Arabia’s northwestern coast has unveiled plans for a new international airport, employing an impressive design “inspired by the optical illusion of a desert mirage.”
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Aerial View of Jeddah Port Stars in NASA Earth Observatory’s Image of the Day
- June 24,2020
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- SUSTG Team
The NASA Earth Observatory made its image of the day a stunning aerial photo of Jeddah, Saudi Arabia’s port from directly above.
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Saudi Arabia Announces ‘Limited’ 2020 Hajj to Prevent Coronavirus Spread
- June 23,2020
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- SUSTG Team
Saudi Arabia’s leaders said Monday the Kingdom will still allow for a “limited” Hajj which is open only to a small number of pilgrims who are already based in Saudi Arabia as they seek to stop the spread of the novel Coronavirus, according to reports.
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Saudi Arabia to Launch Tourism Development Fund with an Initial $4 billion Investment
- June 22,2020
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- SUSTG Team
Saudi Arabia plans to start a tourism development fund with an initial $4 billion investment, according to reports citing an announcement from the Ministry of Tourism.
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Report: PIF to buy 2.32% stake in India’s Jio Platforms for $1.49 billion
- June 18,2020
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) will buy a 2.32% stake in Reliance Industries’ digital unit Jio Platforms for $1.49 billion, Reuters reports.
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MUST-READS
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ConstructionNew construction contract awards in Saudi Arabia drop 25% in final quarter of 2015
The value of new construction contracts awarded in Saudi Arabia shrank by a quarter in the last three months of last year as contractors were battered by spending cuts.
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SAGIASaudi Arabia May Give up Local Partner Prerequisite
Sources told Asharq Al-Awsat that the triple sectorial-committee, including SAGIA, Ministry of Commerce and Industry, and Ministry of Labor, is seriously reviewing factors that hinder investment in the local market. The review will shift the current situation to a new standpoint, which eliminates all obstacles slowing down global investment. The obstacles being put to question are in a majority relevant to red-tape procedures and conditions on foreign investment.
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Lockheed MartinLockheed Martin opens first overseas Sniper pod center in Saudi Arabia
The Sniper ATP Expanded Repair Capability center is located in Saudi Arabia. The facility is part of an existing offset agreement between the Saudi Arabia Economic Offset Committee and Lockheed Martin, according to a Lockheed Martin news release.
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Art and CultureSaudi Arabia’s new wave of artists challenge boundaries
It is fast becoming a hub for artists who are looking at fresh ways to explore aspects of religion and culture within the strict mores of the Saudi Kingdom.
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ICTSaudi Arabia to invest $133M to pump up Arab ICT startups
The fund will maintain its headquarters in the Saudi capital but will open an international arm at 3000 Sandhill Road in Menlo Park, California. Besides ICT, the fund will focus on energy, sustainability, and advanced materials.
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OPECSaudi Arabia’s oil strategy tears OPEC apart
The world's business leaders will gather at the World Economic Forum with mixed messages from OPEC oil producers ringing in their ears.
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U.S.-SaudiUS State Department approves Saudi Arabia arms sale
The US State Department has approved the sale of $1.29 billion (£848.6m) worth of bombs to Saudi Arabia, as its military carries out air strikes in neighbouring Yemen.
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Airports and AviationSaudi Arabia to start privatizing airports next year
Saudi Arabia will begin privatizing its airports and related services in the first quarter of 2016, the country’s civil aviation authority said on Sunday.
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Paris AttacksArab cartoonists pick up their pens for Paris
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Arab cartoonists shared their sympathy with France during the aftermath of attacks that killed at least 129 people in Paris. Many newspapers also carried drawings that had political interpretations.
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Energy and Fiscal PolicySaudi Arabia may cut energy subsidies and start to wean its citizens off ultra-cheap gasoline
Saudi Arabia is reportedly contemplating a cut in subsidies for gasoline and other fuel, a move that could entail political risk in a nation where pampered citizens are accustomed to lavish social perks.
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