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Lucid CEO Says Saudi Arabia Views Struggling EV Maker as Strategic Investment for Economic Diversification
- February 27,2024
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- SUSTG Team
Lucid Motors CEO said at the Geneva International Motor Show today that the struggling EV maker and its Saudi backers are “in this together for the long run” and the relationship is like a “marriage,” according to a report in Bloomberg.
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NEOM Announces Launch of ‘Topian’, the NEOM Food Company, Seeking to ‘Revolutionize Global Food Systems’
- December 11,2023
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- SUSTG Team
NEOM launched this weekend a new company, called “Topian,” the NEOM Food Company, which “seeks to redefine food production, distribution, and consumption through the creation of sustainable and innovative food solutions across five vertical pillars: climate-proof agriculture; regenerative aquaculture; novel foods; personalized nutrition; sustainable food supply and ESG.”
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Lucid Air Limited Assembly In Saudi Arabia To Start In September; Company Slashes ‘Air’ Model Price
- August 9,2023
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- SUSTG Team
Lucid Motors, an EV company in which the Saudi Arabian Public Investment Fund (PIF) has a majority ownership stake, announced its second-quarter financial results yesterday, and provided some updates on its plans during an earnings call lead by CEO Peter Rawlinson. Lucid on Monday reported revenue in the April-June period of $150.9 million, missing estimates […]
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Brazilian Miner Vale Nears Deal to Sell 10% of Its Base Metals Business to Saudi Arabia’s PIF, Ma’aden – Report
- July 26,2023
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- SUSTG Team
Brazilian miner Vale is reportedly close to completing a deal to sell a roughly 10% stake in its $25 billion base metals unit to a joint venture between Saudi Arabia’s sovereign-wealth fund, the PIF, and the Saudi mining company Ma’aden, people familiar with the matter told the Wall Street Journal.
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Saudi PIF Reports $11 Billion Loss in 2022 after Earning $19 Billion in 2021 – Reports
- July 12,2023
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- SUSTG Team
Saudi Arabia’s sovereign wealth fund lost $11 billion on its investments last year, as the fall in global stock and bond prices impacted its holdings, according to a report in Bloomberg.
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Congressional Hearing Puts Capitol Hill Focus on Saudi Arabia’s Role in PGA
- July 11,2023
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- SUSTG Team
Two top PGA Tour officials will meet with US lawmakers today on Capitol Hill and plan to tell them that Saudi Arabia would have little sway over the golf business if a proposed merger with LIV Golf goes through, according to Bloomberg.
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Kingdom at the Forefront of Air Taxi Tech with Test of Volocopter in Collaboration with Neom
- June 22,2023
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- SUSTG Team
Saudi Arabia’s NEOM hosted the first test campaign of air taxi flights in the northwest of Saudi Arabia, building on a reputation of a leader in technologies in the under-development futuristic zone.
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Saudi Arabia Targets Massive $800 Billion in Tourism Investment Over Next Decade – Report
- June 12,2023
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- SUSTG Team
Tourism Minister Ahmed Al-Khateeb said at an Arab-China investment summit that Saudi Arabia is investing $800 billion in the tourism sector over the next ten years, according to reports.
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NEOM Secures $5.6 billion Investment for Workforce Housing
- June 7,2023
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- SUSTG Team
Saudi Arabia’s planned mega-city NEOM has secured 21 billion riyals ($5.60 billion) in financing and has finalized contracts to develop the first phase of housing expansion for its workforce, it said in a statement on Tuesday, Reuters reports.
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Lucid Shares Tumble on News of $3 Billion in New Fundraising
- June 1,2023
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- SUSTG Team
Shares of Lucid Group’s stock tumbled today on news that the group is raising about $3 billion in a common stock offering, with the majority of the money coming from the electric vehicle maker’s Saudi owners, the Public Investment Fund.
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U.N. chief to name Swedish diplomat as new Yemen envoy: diplomats
U.N. Secretary-General Antonio Guterres is expected to shortly name Swedish diplomat Hans Grundberg as his new Yemen envoy, diplomats said, after China informally gave the greenlight for the appointment following a delay of several weeks.
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Doctors in Saudi separate Yemeni baby from twin
A team of doctors in Saudi Arabia has separated a Yemeni baby from her parasitic twin, authorities said, marking their 50th successful operation on conjoined twins. Aisha Ahmed Saeed was born fully developed but with an extended pelvis area and an extra pair of lower extremities, the Saudi English-language Arab News daily reported.
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21 members of Saudi-backed team killed clearing Houthi mines in Yemen
Launched by the King Salman Humanitarian Aid and Relief Center (KSrelief) on June 25, 2018, the initiative has so far cost $133 million, Masam’s director, Osama Al-Gosaibi, told Asharq Al-Awsat newspaper.
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Conflict and Economic Collapse in War-torn Yemen Worsening Hunger Crisis
Of Yemen's population of just over 29 million people, around 21 million need humanitarian assistance. The United Nations, which considers Yemen the largest humanitarian crisis in the world, reports 16.2 million people are extremely short of food and suffering from acute hunger.
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Perspective: Yemen’s Civil War
Realistically, federalism and decentralization tend to work best when you have strong local and national institutions, and in Yemen what we've got is weak, uncoordinated, diffuse, and mismatched institutions both locally and nationally. That means that as they approach Yemen, the international community needs to think critically about their approach.
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U.S. Special Envoy for Yemen Lenderking’s Travel to Saudi Arabia
Special Envoy Lenderking will discuss the growing consequences of the Houthi offensive on Marib, which is exacerbating the humanitarian crisis and triggering instability elsewhere in the country.
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Saudi-led coalition destroys drones launched by Yemen’s Houthis, state media says
A military coalition led by Saudi Arabia said on Saturday it had intercepted and destroyed three drones that were launched by Yemen's Houthi militia towards the southern region of the kingdom, state media reported.
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Blinken meets with Qatari leader, who pledges to help US in Afghanistan, Lebanon, and Yemen
Secretary of State Antony Blinken met with the prime minister of Qatar Thursday to discuss regional crises in Afghanistan, Lebanon, and Yemen. Deputy Prime Minister and Minister of Foreign Affairs Mohammed bin Abdulrahman Al-Thani backed U.S. calls to promote "peace and security" through a strategic partnership.
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Saudi commentators go public in criticising UAE role in Yemen
Saudi Arabia is trying to contain a power struggle in southern Yemen between the recognised government backed by Riyadh and the main separatist group supported by the UAE - which risks broadening a war that Saudi Arabia is struggling to exit.
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Saudi-UAE Military Officials Review Arab Coalition Operations in Yemen
While pro-government forces continue to push onwards in battlefield advances against Houthi militias in Yemen’s strategic governorate of Marib, a Saudi-UAE military meeting on Thursday examined Arab Coalition operations backing the Yemeni Army.
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