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Recent stories from sustg
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Major New Shopping District VIA Riyadh Opens to Public
VIA Riyadh, a new entertainment, retail, and hospitality district in the capital city has opened to the public, giving visitors and citizens a new destination in the Salmani architecture style.
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Talking tech in the MENA with MEI’s Mohammed Soliman, King Salman Park in Riyadh, Saudi’s growing soccer league, and much more…
Eid Fitr Mubarak! In Episode 84, Mohammed Soliman, the director of the Middle East Institute’s Strategic Technologies and Cyber Security Program and a Manager at McLarty Associates’ Middle East and North Africa Practice, joins The 966. Mohammed’s work focuses on the intersection of technology, geopolitics, and business in the Middle East and North Africa (MENA). […]
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Eid Mubarak from the SUSTG Team!
The SUSTG Team wishes all celebrating you a peaceful and joyous Eid.
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CIA Director Bill Burns visits Saudi Arabia to Reinforce US Commitment to Intelligence Cooperation
The head of the U.S. Central Intelligence Agency (CIA), Bill Burns, visited Saudi Arabia this week to meet with Saudi officials and reinforce Washington’s commitment to intelligence cooperation, a US official told Al Arabiya English.
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Hot Gulf Region IPO Market Draws Global Attention — FT
The Middle East North Africa (MENA) region saw 51 IPOs last year, raising $22bn, a 179% increase on 2021, a report in the Financial Times said, citing the advisory firm EY.
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Saudi Arabia’s New National Airline, Riyadh Air, Names CEO and Eyes Billions in Boeing-Made 787s
Saudi Arabia launched a new airline, Riyadh Air, and named an industry-veteran CEO in Tony Douglas for the new company this week. The airline, along with current state-flag carrier Saudi Airlines (Saudia) signed an agreement for an order of 72 Boeing-made airplanes.
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Steve Lutes, Vice President, Middle East Affairs at U.S. Chamber of Commerce joins The 966
Steve Lutes, Vice President, Middle East Affairs at U.S. Chamber of Commerce, has been active in his role expanding the program in service to the Chamber’s membership and the broader U.S.-Saudi relationship. The 966 hosts discuss the U.S.-Saudi Arabia Business Program that Steve has grown over the years, his extensive travels to the region and […]
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Senior US Delegation in Riyadh for Talks Shows Commitment, Official Tells Al Arabiya
Senior US officials from the Biden administration are in Riyadh this week for security meetings to discuss Iran and other mutual defense concerns, with one official telling reporters that the meetings demonstrate a commitment to the region despite the narrative in the media that the U.S. is seeking to distance itself from the region.
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LEAPing forward in an increasingly tech-focused Saudi Arabia, Riyadh as a global events destination, and much more
The 966 Episode 75! The hosts discuss the recently-concluded LEAP conference and exhibition in Riyadh and how Saudi Arabia is increasingly becoming a leader in the space in the region. They also discuss how Riyadh is, in general, becoming a more attractive destination for global events, a concept once difficult to imagine before the Kingdom […]
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The 966 exclusive interview with Bechtel Saudi Arabia Managing Director Jacob Mumm on the company’s active role at Neom, the Riyadh metro, and its storied history in the Kingdom
In Episode 73 this week, The 966 features an exclusive conversation with Jacob Mumm, Managing Director for Bechtel Saudi Arabia. Bechtel’s role in over 300 major projects throughout 80 years in Saudi Arabia, including the world’s largest single industrial development project at Jubail, the ambitious Riyadh Metro project, “The Spine” at Neom, Ras Al Khair, […]
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MUST-READS
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Opinion: There’s a Huge Opportunity For Saudi Tourism – But it Needs to Embrace Nuance
The Saudi Public Investment Fund gets a lot of attention with its mega deals. This is to be expected. What I want to see is room for a certain segment of the private sector: early-stage entrepreneurs and innovators building something from the ground up.
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Monsha’at reveals key economic indicators for Saudi fashion industry
The Kingdom’s fashion sector is expected to grow at a compound annual growth rate (CAGR) of nearly 48% between 2021 and 2025. The sector’s value amounted to roughly SAR 92.3 billion in 2021, Monsha’at added. It was valued at SAR 46.9 billion in 2022, with consumer spending on imported brands reaching SAR 27.4 billion in 2021.
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Saudi Arabia aims to attract over $3 trillion in investments by 2030
Saudi Minister of Investment Khalid Al-Falih underscored the plan to draw investments and financial flows exceeding $3 trillion by 2030. Saudi Arabia, participating in the first Sino-Gulf Cooperation for Industries and Investments Forum in Xiamen, China, on May 23 and 24, focused on its ambitious Vision 2030. Led by Minister Al-Falih, the Saudi delegation included key representatives from both the government and private sectors.
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Thousands of upgraded properties in Saudi Arabia see rental yield soar by up to 50%
Carrying out upgrades and modernising properties can yield an increase in rent revenue of between 25 and 50 per cent in a market that has been relatively flat outside the capital Riyadh, where 44 per cent of the kingdom's real estate transactions took place.
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Saudi Arabia’s open banking strategy a game-changer
In May 2022, the institution, also known as SAMA, went live with its open banking initiative, which has altered the future of financial technology in the Kingdom and the wider region. Open banking is a technological innovation that enables customers to securely share their data with third parties. “Open banking changes the very nature of relationships across the financial ecosystem for Saudi Arabia and for the region as a whole. This is only a good thing,” said Al-Moayed.
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Saudi Arabia’s Booming Fashion Industry Offers Entrepreneurs Lucrative Opportunities
The Small and Medium Enterprises General Authority (Monsha'at) released its report for the first quarter of 2024, shining a spotlight on the Kingdom's thriving fashion sector and the wealth of investment potential for entrepreneurs.
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60 Saudi students graduated from elite American universities
As many as 60 Saudi scholarship students were graduated from a number of elite universities of the United States of America. The Saudi Club at Harvard University organized a ceremony to honor the graduates from Harvard University, the Massachusetts Institute of Technology (MIT), Boston University, and Tufts University at the Harvard Medical School in Boston on Friday.
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Riyad Capital expects revived Saudi economy in 2024-2025
The Saudi economy is likely to witness a recovery in 2024 and 2025, with continued strong growth in the non-oil sector, Riyad Capital expected in the Q2 2024 Saudi Economy Chartbook report. The recovery will be driven by a growth-oriented fiscal policy and a focus on increasing investment expenditure to stimulate growth in the coming years. According to the report, the non-oil sector is seen to grow by 4.8% in 2024 and 5.2% in 2025.
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Private aviation soars in Saudi Arabia as more businesses take to the skies
Valued at $1.2 billion in 2023 according to TechSCI research, this segment is projected to grow at a compounded annual growth rate of 8.88 percent between 2025 and 2029.
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What a Turkish drone in the Raisi crash crisis reveals about Iran’s UAV capabilities
Hours after the helicopter carrying Iranian President Ebrahim Raisi and Foreign Minister Hossein Amirabdollahian went down near the border of Azerbaijan Sunday, Iran reached out to its regional neighbor Turkey for assistance in finding the crash site through dense fog. Turkey dispatched one of its thermal- and night-vision capable, domestically produced AKINCI unmanned aerial vehicles, and, according to Turkish officials, they discovered the downed chopper. Turkish media released video of what was supposedly the “heat source” identifying the crash.
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