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In announcement, PIF to launch 5 regional investment firms to draw $24 billion
- October 27,2022
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- SUSTG Team
Crown Prince Mohammed bin Salman announced Wednesday that the kingdom’s Public Investment Fund (PIF) would launch five new investment firms in countries around the Middle East, targeting regional growth for the fund, according to reports and a release from the PIF.
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Dr. Abdulaziz Alanazi discusses his recent international water prize win, a changing Riyadh, and more — The 966 E. 61
- October 7,2022
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- SUSTG Team
Episode 61! The 966 welcomes Dr. Abdulaziz Alanazi, assistant professor at King Saud University in Riyadh, who discusses his work that recently won a very prestigious international water award. Before that, the hosts discuss governance in Saudi Arabia, a changing Riyadh, and an update on LIV golf’s recent moves with the MENA tour. The hosts […]
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Jadwa Investment October 2022 Chartbook: Non-Oil PMI Sees Significant Rise in August
- October 3,2022
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- SUSTG Team
Saudi Arabia’s economy continues its streak of growth with positive data points in key areas like non-oil PMI, consumer spending, business activity and new work, according to the latest monthly chartbook released by Jadwa Investment.
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Saudi National Day, Significant Traction in Airline/Travel Reforms, Saudi-Greece Relations, and more – The 966 Episode 60
- September 23,2022
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- SUSTG Team
Episode 60! The 966 wishes everyone a fun and safe Saudi National Day. This week, the hosts re-connect after a two week hiatus for the 60th episode of the show. First, the hosts discuss Richard’s one big thing, which is a deep dive on Saudi-Greece relations of late and why that bilateral relation is one […]
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Saudi Arabia Launches Astronaut Program with Plans for First Female Astronaut, SPA Says
- September 22,2022
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- SUSTG Team
Saudi Arabia has launched an astronaut program, the state news agency SPA reported on Thursday, with the first journey to space set for 2023 carrying the country’s first female astronaut.
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Global migration trends, big cat conservation in Saudi Arabia, the new Saudi companies law and more!
- August 26,2022
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- SUSTG Team
Episode 59! The hosts talk about a newly-released and interesting UN report on global migration trends, big cat and other endangered species conservation in Saudi Arabia, and much more in the program’s finishing Yallah! segment. Programming note: The 966 will return next week with a featured interview, then be back in full swing as September […]
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The music industry in Saudi Arabia and more with Ahmed Shawly and Mostafa Fahmy from Jeddah’s ‘Wall of Sound’ Record Label
- August 12,2022
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- SUSTG Team
Episode 56! The 966 welcomes Ahmed Shawly and Mostafa Fahmy from the Jeddah-based Wall of Sound record label and recording studio to talk about the young and growing music industry in Saudi Arabia, their entrepreneurial journey building the business from the ground up in a new industry with a blend of established and new, indie […]
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Saudi Technology Ventures Report Sees 45 New MENA Unicorns in the Next Eight Years
- August 10,2022
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- SUSTG Team
The MENA region is set to witness the birth of more than 45 unicorns in the next eight years, with an estimated total equity value to reach more than $100 billion, according to a new Saudi Technology Ventures (STV) report.
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Saudi Ministry of Investment Releases Q2 Investment Highlights Report; 49 Closed Investment Deals Worth More Than $925m Inked
- August 8,2022
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- SUSTG Team
Saudi Arabia’s Ministry of Investment (MISA) released its 2Q 2022 Investment Highlights report, which touts over $925 million in investment deals in the second quarter of this year.
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Eyad Albayouk from Flat6Labs talks Saudi VC and KSA’s startup ecosystem, reacting to the unveiling of The Line at NEOM and more
- July 29,2022
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- SUSTG Team
Episode 54! The 966 talks with Eyad Albayouk from the VC firm Flat6Labs KSA. Eyad chats with us about Saudi Arabia’s growing startup ecosystem and entrepreneurship in the Kingdom, and the state of Saudi VC in 2022 as the Kingdom ramps up Vision 2030 execution. Before the interview, the hosts discuss the recently announced megaproject, […]
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MUST-READS
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SparkLabs launches $50 million fund for Saudi AIM-X accelerator
Global early-stage venture capital firm SparkLabs Group has launched the SparkLabs AIM AI Fund with confirmed investment of $50 million, which will invest in participants in the AIM-X artificial intelligence startup programme. SparkLabs unveiled AIM-X in June, as the official AI startup programme under Saudi Arabia’s Artificial Intelligence Mission (AI.M), which aims to bolster the Kingdom's leadership in AI over the next five years. Originally announced at LEAP24 in March, AI.M was created by Saudi’s Ministry of Communications and Information Technology's National Technology Development Program (NTDP), King Abdullah University of Science and Technology (KAUST), and Saudi Data & Artificial Intelligence Authority (SDAIA).
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UAE bets big on green hydrogen, eyes global clean energy leadership, ministry official says
The UAE launched its National Hydrogen Strategy 2050 last year with the aim to become a top global hydrogen producer by 2031. The Gulf country plans to use its natural resources and energy infrastructure to build a hydrogen value chain, focusing on domestic demand and exports. By 2050, the UAE forecasts its hydrogen sectoral demand could grow fivefold to around 10.1 million tonnes per annum, supporting the country’s broader clean energy and net-zero emissions targets.
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Cristiano Ronaldo: ‘I recommend the world’ to visit Saudi Arabia’s Red Sea
“If you have to mention one romantic place – a place to be with my whole family – I will say that from some places that I visited this year, which surprised me a lot and we enjoyed so much is the Red Sea.” Ronaldo, who has visited numerous destinations worldwide, was particularly impressed by his recent trip to the Red Sea. “I recommend for all the world to visit this amazing place,” he said.
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How Telegram became the ‘center of gravity’ for a new breed of domestic terrorists
Late last month, Telegram burst into the news with another arrest related to alleged criminal activity on the giant messaging and social media platform. This time, the man in police custody was the company’s founder, Pavel Durov. French authorities detained the Russian-born billionaire after his plane touched down at an airport a few miles north of Paris.
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Red Sea Film Foundation Chief Jomana Al-Rashid on Fueling Saudi Arabia’s Cinematic Ambitions
Variety spoke to Jomana Al-Rashid, who chairs the Red Sea Film Festival International Film Foundation, about nurturing Saudi’s rapidly evolving film scene. "For us, it’s about forms of expression and good storytelling, whether it’s indie films or the more commercial films. If you have a good story then that’s something that we are going to support."
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Saudi National Day: Employees, students to enjoy long holiday
This year’s occasion will fall on a Monday and with a Friday-Saturday weekend in the Kingdom, some employees will enjoy an extended holiday with Sunday September 22 off as well. Students, according to the education ministry’s academic calendar, will also be given Sunday September 22 as a day off for the occasion.
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Saudi oil tanker Amjad was not targeted in Red Sea, owner Bahri says
Saudi shipping firm Bahri (4030.SE), opens new tab said on Tuesday its tanker Amjad was not targeted in a Red Sea attack, and that it had been spared any damage from the incident that hit another tanker that was sailing nearby. The U.S. Central Command said Yemen's Iran-backed Houthi rebels attacked two crude oil tankers - the Saudi-flagged Amjad and the Panama-flagged Blue Lagoon I - in the Red Sea on Monday with two ballistic missiles and a one-way attack uncrewed aerial system, hitting both vessels.
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Saudi Central Bank to enable Samsung Pay service in Q4 2024
SAMA explained that this step affirms its ongoing efforts to strengthen the digital payments system in the Kingdom, aligning with the Financial Sector Development Program’s (FSDP) objectives, a key initiative of Vision 2030.
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Tabby to acquire Saudi fintech Tweeq
Founded in 2019 in the UAE by Hosam Arab, Tabby is a buy now pay later (BNPL) fintech with over $6 billion in annualised transaction volume. Meanwhile, Tweeq, founded in 2020 by Saeed Albuhairi and Abdulaziz Almalki, offers a spending account that allows customers to spend, send, and manage their money.
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Shell isn’t so eager to look for oil these days
Shell SHEL-1.19%, one of the world’s largest oil companies, is pulling back a bit from looking for the product that powers its bottom line. Reuters reports that the company will be cutting 20% of its oil-and-gas exploration workforce, the equivalent of hundreds of jobs. The move is part of an effort to save as much as $3 billion in expenses by the end of the year.
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