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Recent stories from sustg
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Deals Flow at Third Annual Future Aviation Forum
Organized by Saudi Arabia’s General Authority of Civil Aviation (GACA), the third edition of the Future Aviation Forum, saw the signing of 102 MOUs, agreements and deals totaling over $21 billion along with numerous investment offers in the Saudi aviation sector valued at $100 billion.
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2024 Esports World Cup in Riyadh Buzz Grows
The inaugural 2024 Esports World Cup, an annual event replacing Gamers8 and run by the Esports World Cup Foundation, will take place in Riyadh this July 4 – August 24 featuring 20 events in 19 video game titles as well as the largest prize pool in esports history of over US$60 million.
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PIF launches Neo Space Group (NSG) to boost Saudi Arabia’s satellite and space industries
The Neo Space Group (NSG) will focus on cutting-edge technologies in four dedicated business segments: satellite communications, earth observation and remote sensing, satellite navigation and Internet of Things, as well as a satellite and space-focused venture capital fund.
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Goldman Sachs set to open Regional HQ in Riyadh
Bloomberg reports that Goldman Sachs Group Inc. has become the first Wall Street bank to receive a license from the Ministry of Investment to set up its regional headquarters in Riyadh.
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The 966 – Episode #129, Saudi Film Industry Six Years after Theaters Re-Opened with Todd Albert Nims
Theaters are booming, the Saudi film industry is creating successful local content and all metrics are up for the sector. Todd Albert Nims, creator, director and producer, joins The 966 to share his perspective on all the exciting changes underway.
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“The Clean Hydrogen Economy and Saudi Arabia”: A Roadmap to Energy Leadership
Faculty and researchers from King Abdullah University of Science and Technology (KAUST) and King Abdullah Petroleum Studies & Research Center (KAPSARC) have unveiled a new publication: “The Clean Hydrogen Economy and Saudi Arabia.”
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Aramco launches first quantum computer in Saudi Arabia
Aramco has signed an agreement with Pasqal, a global leader in neutral atom quantum computing, to install the first quantum computer in Saudi Arabia.
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U.S. and Saudi Arabia enhance energy cooperation agreement
Building on the Partnership for Advancing Clean Energy Agreement signed in Jeddah on July 15, 2022, Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy of Saudi Arabia, met with U.S. Secretary of Energy Jennifer Granholm in Riyadh to set a detailed timeline for collaborative projects.
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Growing Saudi female sports participation triggers retail growth
Writing for Jing Daily, Julienna Law reports that Saudi Arabia’s sportswear and athleisure apparel market is set to boom as women, in particular, become more active in sports.
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Saudi Entertainment Ventures (Seven) and Qiddiya Combine
Seven, a wholly owned public investment fund (PIF) company, has now become a wholly owned subsidiary of Qiddiya to enhance the offerings of both companies and support its wider strategy for the entertainment, leisure and sports sector.
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MUST-READS
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Renard back to coach Saudi Arabia after Mancini exits
Herve Renard was hired to coach Saudi Arabia for a second time on Saturday, two days after the departure of Roberto Mancini. ’m back,” Renard said in a social media video posted by the Saudi Arabia Football Federation. The Frenchman most recently coached France women to the Paris Olympics quarterfinals. He was previously in charge of Saudi Arabia from 2019-23, a tenure that included a famous 2-1 win over Argentina at the 2022 World Cup in Qatar.
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Saudi Arabia imposes SR300,000 fine and 5-yr jail for abusive behaviour in workplaces, schools and places of worship
Fines of up to 300,000 Saudi riyals or imprisonment for up to five years will be imposed on anyone found guilty of abusive behavior in workplaces, schools, or places of worship, the Saudi Public Prosecution announced in a statement on its official account on X (formerly Twitter). The Public Prosecution emphasised that any harmful actions in these environments constitute a criminal offence, reiterating the importance of enforcing the Protection from Abuse Law.
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Saudi Arabia condemns military targeting of Iran, urges restraint amid regional tensions
In a statement, Saudi Arabia urged all involved parties to exercise maximum restraint and to de-escalate tensions, warning of the potential consequences of continued military conflicts. The Kingdom called upon the international community, as well as influential and active stakeholders, to fulfill their roles and responsibilities in mitigating escalation and working towards the cessation of conflicts within the region. Early Saturday, Israel announced that its military has executed "precise strikes" against military targets in Iran, with explosions reportedly heard in Tehran.
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Saudi deputy foreign minister engages in key diplomatic meetings at donors’ conference in Jeddah
Saudi Arabia’s deputy minister of foreign affairs Waleed Elkhereiji held a series of high-level meetings on Saturday on the sidelines of the Donors’ Conference to Support Internally Displaced People and Refugees in the Sahel and Lake Chad Region. The conference, held in Jeddah, brought together international representatives to address the humanitarian challenges impacting the region.
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‘He’s back’: Herve Renard returns as Saudi Arabia national team head coach
“I’m back,” Renard said in a social media video posted by the Saudi Arabia Football Federation. It will be the second spell in charge of the Green Falcons for the Frenchman. Renard led the national team to a memorable 2-1 win over eventual champions Argentina at the 2022 World Cup but left in March last year to take over France’s women’s team. The 56-year-old stepped down from the role in August following France’s quarter-final exit to Brazil at the Paris Olympics.
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How investment in solar capacity is powering Saudi Arabia’s sustainable energy future
By the end of the decade, Saudi Arabia aims to generate 58.7 gigawatts of renewable energy. This includes 40 GW from solar photovoltaics, alongside 16 GW from wind energy and 2.7 GW from concentrated solar power. In 2024, Abdulaziz bin Salman, the Saudi minister for energy, announced plans to tender new renewable energy projects with an annual capacity of 20 GW. This could potentially lead to a total capacity of 100-130 GW by 2030.
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Saudi weather authorities warn of thunderstorms, heavy rains across Kingdom
Temperatures plummeted to a low of 17 degrees Celsius, while the maximum temperature was pegged at 27 degrees. Thursday night also saw cold winds blowing at high speeds, heralding the onset of winter in Riyadh. Following the heavy rains forecast, the Civil Defense also issued a warning for potential flooding in multiple regions of Saudi Arabia.
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Saudi Arabia making ‘significant strides’ in health tourism, expert says
“The integration of digital health solutions, such as telemedicine and e-health services, further supports sustainability goals. These innovations reduce the need for travel, lowering carbon emissions and making healthcare more accessible,” he said. Saudi Arabia’s healthcare infrastructure also plays a pivotal role, he said. "The Kingdom’s commitment to achieving international accreditation for its healthcare facilities ensures that they meet rigorous quality standards,” Baslom said.
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Safeya Binzagr, a Saudi Artist Celebrated but Long Unseen, Dies at 84
The Saudi Arabian artist Safeya Binzagr’s groundbreaking moment came in 1968, when she had her debut exhibit, at a girls’ school in the coastal city of Jeddah. It was the first time a woman had shown her art publicly in the country, and the distinguished group of attendees included Saudi royals, diplomats and intellectuals. Despite the restrictions of Saudi society, though, Ms. Binzagr celebrated her heritage — advancing women’s role in Saudi Arabian art, starting classes and opening one of the first art museums in the country.
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BlackRock studies how to develop Saudi mortgage market
Bartholomew Nash, Director of Corporate Communications at BlackRock, said the asset management firm is studying mechanisms to develop the mortgage-backed securities market in Saudi Arabia, Al Eqtisadiyah newspaper reported. He added that the company is currently working on this mechanism to develop the Saudi market under the terms of the agreement signed with Saudi Real Estate Co. (SRC) on Aug. 24. In August, SRC signed an agreement with BlackRock to develop the mortgage sector in the Kingdom and boost international and local investor base, as well as achieve stability in the housing market and diversify financing options, according to data available with Argaam.
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