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Recent stories from sustg
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Unemployment for Saudis Declines in Latest Labor Figures before Pandemic
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 Arabia to Launch Tourism Development Fund with an Initial $4 billion Investment
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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1.2 million Expat Workers to Leave Saudi Arabia in 2020, Jadwa Estimates
As many as 1.2 million foreign workers will leave the Saudi labor market in 2020, with an estimated 300,000 already gone this year, according to a recent labor market update by Jadwa Investment.
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Saudi Aramco Completes Acquisition of 70% Stake in SABIC with Purchase of 2.1 Billion Shares on Tadawul
State-owned Saudi Aramco bought 2.1 billion shares of Saudi Basic Industries (SABIC) on the Tadawul, the Kingdom’s stock market, on Sunday, completing its deal to buy 70% of the petrochemical giant, according to a report in Reuters.
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With a Bumpy Road Ahead in 2020, Saudi Banks are ‘Well Capitalized’, Executives told Reuters
“Strong capital buffers” will help banks in Saudi Arabia push through a bumpy road ahead in the next few months, according to a Reuters report, which took a measurement of some of the industry’s top CEOs.
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Saudi Arabia’s NIDLP Sees Traction with $1.33b in Loans So Far
Saudi Arabia’s National Industrial Development and Logistics Program (NIDLP) has so far granted loans amounting to SR 5 billion ($1.33b) to over 40 Saudi exporters and increased private sector investments to over SR35 billion, according to a local Saudi newspaper report.
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Saudi Arabia to End Virus Curfews by June 21, Will Start ‘New Phase’ on Thursday May 28
Saudi Arabia said Tuesday that it will begin to end its nationwide coronavirus curfew this week, and completely phase out the curfews by June 21, according to comments from the Kingdom’s health minister Dr. Tawfig Al-Rabiah.
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Kingdom Climbs in International Budget Transparency Index
Saudi Arabia jumped 18 places in an index that measures the transparency of budgets worldwide as the Kingdom moves forward with economic and social reforms.
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Saudi Arabia Makes First Purchase of Wheat from Kingdom-Owned Farm
Saudi Arabia has made its first purchase of wheat grown from an overseas farmland investment in Ukraine, Reuters reports, as the Kingdom makes progress on a years-long shift toward agricultural imports and water conservation goals.
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Saudi Cabinet: Kingdom Prepared to ‘Take Extra Steps with OPEC+’ to Stabilize Oil Market
Saudi Arabia said on Tuesday it is monitoring oil markets and is ready to take extra measures to stabilize them along with OPEC+ allies and other oil producers, Reuters reports, citing an SPA report and Saudi Cabinet statement.
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MUST-READS
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RDIA launches national initiative to strengthen Saudi Arabia’s semiconductor sector
The eight-month training, which will run from September 29 to May 29, targets individuals with bachelor’s degrees in electrical and computer engineering or related fields. Participants will be poised to join companies within the National Semiconductor Hub, directly contributing to the advancement of Saudi Arabia’s semiconductor industry.
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How prepared is Saudi Arabia to handle mpox?
An international outbreak of a milder variant of mpox occurred between July 2022 and May 2023. The first cluster of cases was reported in the UK, followed soon after by more in other parts of the world, including Europe and North America. It was the first time that a transmission chain had been reported outside of Africa without any known epidemiological links to West or Central Africa. In all, 87,000 cases were reported in 111 countries, and 140 people died.
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Tawakkalna tops government platforms in digital experience maturity index
Tawakkalna app, affiliated with the Saudi Data and Artificial Intelligence Authority (SDAIA), topped the government platforms in the Digital Experience Maturity Index for 2024 in Saudi Arabia, with a rate of 91.29%. This is among 39 digital platforms that were evaluated according to 4 main perspectives, under which 20 axes were included: measuring beneficiary satisfaction through the participation of more than 175,000 beneficiaries in evaluating their satisfaction with their digital experience and dealing with their complaints and evaluating the digital technologies and tools that enable these platforms.
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Rare blue supermoon to light up Saudi Arabia’s skies
The first supermoon of 2024 is set to light up the night skies of Saudi Arabia on Monday night, a rare event during which the moon is closer to Earth and thus appears larger and brighter than usual.
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Saudi Arabia’s premier auction event brings together global falcon breeders to Riyadh
The event, running through August 24th, features 35 breeding farms representing more than 16 countries. Its significance is underscored by impressive sales figures, including a record-breaking falcon sold for 1.75 million Saudi Riyals in 2021. The auction has generated more than 18 million Riyals in total sales since its launch.
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Blinken warns Israel, Hamas of last chance to end Gaza war
U.S. Secretary of State Antony Blinken warned on Monday that the latest push for a Gaza ceasefire and hostage release deal was probably the best and possibly last opportunity, urging Israel and Hamas towards an elusive agreement. However, with Palestinian Islamist group Hamas announcing a resumption of suicide bombing inside Israel after many years, and with Israeli airstrikes still pounding Gaza, there was little sign of conciliation.
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Gaza Reduced to 42 Million Tonnes of Rubble. What Will It Take to Rebuild?
Since then, more than 70% of Gaza’s housing, already depleted in previous conflicts, has been reported as damaged, along with schools, hospitals and businesses. Most of its 2.2 million people are displaced, crammed into a tiny slice of land along the Mediterranean coast, largely cut off from fresh water and food, as well as medicine and basic sanitation, aid agencies say.
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Saudi Arabia FIFA World Cup™ 2034 Bid. One of the fastest and most exciting growth stories in world football
In 2034, Saudi Arabia hopes to become the first single country to host a 48-team FIFA World Cup™. Almost two-thirds of Saudis who live in the Kingdom are under 30 years old. Football is one of the most powerful examples of the country's rapid transformation, with tens of thousands of young boys, girls, men and women taking up the sport.
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Over 6 million students in Saudi Arabia return to school on Sunday
More than 30,000 public, private, international, and foreign schools across the Kingdom have welcomed nearly 500,000 teachers in preparation for the new school year. The return to school coincides with the start of the second-round exams for students who did not pass certain subjects in the first round, as well as the distribution of new textbooks to students.
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Lucid is “Outselling All Competitors” in Saudi Arabia, VP Says
Since the beginning of the year, Lucid has delivered well over 1,000 vehicles there, received $2.5 billion in support from the country’s fund, and opened new showrooms and service centers to support the growth in the Middle East region. If for the first quarter of the year, Lucid CEO Peter Rawlinson said vehicle deliveries in Saudi Arabia surpassed 500 units, the figures for the second quarter were not disclosed in the recent earnings call held on August 5th.
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