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Bechtel Expands Partnerships to Develop Local Talent in Saudi with Agreements with Prince Sultan University, Saudi Women Engineering Society
- December 22,2023
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- SUSTG Team
US-headquartered Bechtel, a leading engineering, procurement, construction, and project management company, has rolled out two new local partnerships in Saudi Arabia as it expands its operational relationships and seeks to develop local talent in the Kingdom as it marks its 80th year doing business in KSA.
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PIF Announces Establishment of Al Balad Development Company (BDC) to become the main developer of Jeddah’s historic Al Balad District
- October 3,2023
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- SUSTG Team
The Public Investment Fund (PIF) announced the establishment of the Al Balad Development Company (BDC), which will become the main developer of Jeddah’s historic Al Balad district, “in line with the continuous efforts led by His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz to revitalize Historic Jeddah to transform Jeddah into an economic hub, […]
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Saudi 100 Brands stage Paris show
- June 21,2024
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- SUSTG Team
The Saudi 100 Brands is a dedicated program for Saudi fashion companies, brands and/or designers to receive specialized mentoring, training and consulting in the categories of bridal, couture, ready to wear, jewelry, bags, beauty, footwear and fragrance.
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Saudi Internet Penetration Reaches 99%
- May 7,2024
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- SUSTG Team
According to the “Internet Saudi Arabia” report for 2023, published by the Communications, Space, and Technology Commission, both men and women demonstrated high levels of internet usage, with rates of 99.3 percent and 98.5 percent respectively. The report also says that 52.3% of users spend more than seven hours online each day.
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2023 a Big-Spending Year for PIF as Kingdom’s Wealth Fund Accounts for Over One Quarter of All Sovereign Spending
- January 2,2024
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- SUSTG Team
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) spent more than any other last year, topping an annual ranking of sovereign investment fund spending compiled by consultancy Global SWF for the first time, according to reports.
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First Hydrogen Train in Middle East to Begin Trials Next Week, Saudi Energy Minister Says
- October 9,2023
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- SUSTG Team
Saudi Arabia’s Minister for Energy Prince Abdulaziz bin Salman said on Sunday that the first hydrogen train in the Middle East will begin trials next week, according to a report in Reuters.
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Discussing the Venture Capital ecosystem in Saudi Arabia and the MENA with investor Amjad Ahmad and much more…
- October 2,2023
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- SUSTG Team
In episode 105 of The 966, Amjad Ahmad, a leading venture capitalist and seasoned investment professional with extensive experience in VC and private equity in emerging markets, joins to discuss the VC ecosystem in Saudi Arabia, the MENA region, and globally today. In addition to over two decades of experience investing in the region, Amjad […]
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Fossil fuel use, emissions set new highs in 2023
- June 20,2024
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- SUSTG Team
The Energy Institute and co-authors KPMG and Kearney released the 73rd annual edition of the Statistical Review of World Energy, presenting the full global energy data picture for 2023.
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Saudi Car Market: Tops GCC, women purchase 30% of cars sold in 2023
- May 6,2024
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- SUSTG Team
In 2023, Saudi Arabia sold 729,466 cars, a 17% increase from the previous year. The Toyota Yaris was the best-selling car, accounting for 37% of the sales. Car sales are expected to surge to 870,000 this year.
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Saudi Non-Oil Business Activity Expands in December 2023, New Orders Rising at Fastest Pace in Six Months
- January 3,2024
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- SUSTG Team
Non-oil business activity in Saudi Arabia grew solidly in December with new orders rising at the fastest pace in six months, and the seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index stood at 57.5 in December ending 2023 well above the 50 mark signaling economic growth, Reuters reports. The data show a Saudi economy that is […]
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MUST-READS
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Gulf Naval CoalitionBahrain to join US-led naval coalition in the Persian Gulf
Bahrain has agreed to join a U.S.-led coalition for maritime security in the Persian Gulf, making it the third member of a group proposed in the wake of heightened tensions with Iran.
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BahrainBahrain solidifies Patriot buy
The kingdom is not disclosing the quantity of systems and missiles that might be on order, but the State Department cleared the possible foreign military sale of Patriot in May for an estimated worth of $2.5 billion.
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Iran in the RegionHigh-Level Cyber Intrusions Hit Bahrain Amid Tensions with Iran
On Monday, hackers broke into the systems of Bahrain’s National Security Agency—the country’s main criminal investigative authority—as well as the Ministry of Interior and the first deputy prime minister’s office, according to one of the people familiar with the matter.
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Interest RatesUAE, Saudi, Bahrain cut interest rates following US Fed
Gulf central banks largely move in lockstep with the US to protect their currencies’ peg to the dollar. But as the Fed raised rates nine times since 2015, they were unable to lower borrowing costs to help weather the effect of lower oil prices on their economies.
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EconomyLoans in UAE, Saudi Arabia and Bahrain just got cheaper with lower interest rates
Taking out loans across many GCC countries just got cheaper on Thursday as central banks cut interest rates. Central banks in the UAE, Saudi Arabia, and Bahrain all cut their interest rates by 25 basis points after the US Federal Reserve lowered its rates for the first time since the financial crisis. Kuwait’s central bank did not cut its rate, though, keeping it unchanged.
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BahrainOpinion: Bahrain’s Perception Problem
After the kudos of hosting a major economic and peace conference last month, Bahrain, the principal base for U.S. and British naval forces coping with the Iranian threat, is now being criticized for executing Shia activists convicted of terrorist offenses.
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Israel-PalestineBahrain, Jordan, France among those condemning Jerusalem area demolitions
Several nations and international bodies, including France, Jordan, Qatar, the EU and the UN, condemned Israel’s razing of Palestinian homes on the edge of Jerusalem on Monday that Israeli officials said posed a security threat.
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Middle East PeaceOpinion: Neither Peace nor Prosperity: Jared Kushner’s Middle East Peace Plan Falls Flat in Bahrain
Kushner—gifted the portfolio by his father-in-law—outlined the plan’s themes and goals in a diffident, yet arrogant, tone, as if this approach had never been tried before.
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BahrainBahrain records hottest June in more than 100 years
Bahrain has recorded temperatures that make the month of June the hottest ever experienced in the Arab Gulf country in more than a century. Summers in the Arabian Peninsula are consistently hot and humid, with people bunkering indoors for the better part of at least five months. The Bahrain News Agency’s report on Tuesday, however, shows temperatures are soaring even higher.
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BahrainUNESCO adds Bahrain burial mounds to World Heritage List
The UNESCO World Heritage Committee voted Saturday to add Bahrain's Dilmun Burial Mounds to its World Heritage List, praising the tombs for their “globally unique characteristics”.
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