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Middle East accounts for 7.5% of global crypto volume
- September 27,2024
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- SUSTG Team
According to Chainanalysis’ 2024 Geography of Cryptocurrency Report The Middle East & North Africa (MENA) region ranks as the seventh-largest crypto market globally in 2024.
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OPEC releases World Oil Outlook 2024
- September 25,2024
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- SUSTG Team
The Organization for Petroleum Exporting Countries (OPEC) issued its 2024 World Oil Outlook forecasting significant growth in global energy demand between now and 2050.
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KSA FDI outlook
- September 17,2024
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- SUSTG Team
Saudi Arabia’s net FDI rose 5.6% in Q1 2024 with tourism investment leading the way along with construction, electronics, and financial service sectors, among others. The United States is the home country for 333 ongoing and announced projects; by far the leading country.
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The 966, Episode #135 – Clean Hydrogen and Saudi Arabia with Rami Shabaneh, Senior Fellow, KAPSARC
- September 10,2024
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- SUSTG Team
The 966, Episode #135 zeros in on Clean Hydrogen and Saudi Arabia with Rami Shabaneh, Senior Fellow, King Abdullah Petroleum Studies and Research Center (KAPSARC).
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Mortgage rates up but more liquidity needed
- September 9,2024
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- SUSTG Team
Saudi authorities have made home ownership a key goal of Vision 2030, aiming to have 70 % of Saudis owning their own homes by 2030. An estimated 62% to 65% of Saudis are currently home owners.
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Saudi Arabia leads emerging markets in international bond issues in 2024
- September 6,2024
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- SUSTG Team
Saudi Arabia was also the leading emerging market issuer of international sovereign debt in 2023, selling $26.5 billion of bonds. Its debt raising this year has already topped last year’s total with $26.8 billion.
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IMF concludes annual consultation with Saudi Arabia
- September 5,2024
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- SUSTG Team
Saudi Arabia’s unprecedented economic transformation is progressing well as it advanced in its modernization and diversification efforts under Vision 2030. The recent fiscal space exercise has facilitated the recalibration of investment spending planned under Vision 2030 by reprioritizing projects and through sectoral strategies.
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High profile Saudi delegation heads to East Asia
- September 2,2024
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- SUSTG Team
Minister of Industry and Mineral Resources, Bandar AlKhorayef, is leading a delegation to Guangzhou, Hong Kong and Singapore from Sep. 1 to 8, 2024. The delegation’s goal is to enhance bilateral relations, attract investments, and explore joint-venture opportunities.
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Saudi non-oil economy continues growth
- August 27,2024
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- SUSTG Team
Jadwa Investments’ August 2024 macroeconomic update showed robust growth in non-oil activity.
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Esports World Cup crowns winners after historic 8-week tournament
- August 26,2024
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- admin
The Esports World Cup Foundation, the non-profit organization hosting the Esports World Cup, the world’s largest esports competition and gaming festival, celebrated the historic inaugural event with HRH Mohammed bin Salman in attendance by crowning Team Falcons the first Esports World Cup Club Champion on Sunday night in Riyadh, Saudi Arabia.
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MUST-READS
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How UAE is Beating Saudi Arabia, Qatar, Oman, Bahrain, Jordan, Iran, Iraq, Kuwait, Israel, Lebanon, and Syria in Surging Tourism Growth Across the Middle East
But what truly sets the UAE apart isn’t just its attractions—it’s how the country consistently reinvents itself. While Saudi Arabia is still developing its Vision 2030, Qatar focuses on luxury, and Oman specializes in eco-tourism, the UAE delivers a fully realized tourism ecosystem. Progressive visa policies, safety, state-of-the-art airports, and year-round events make the UAE not just a destination but an experience tailored to global tastes.
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Saudi defense minister meets Lebanese army commander
Saudi Minister of Defense Prince Khalid bin Salman met with Lebanese Armed Forces Commander General Joseph Aoun in Riyadh on Thursday. The meeting focused on reviewing military and defense relations between Saudi Arabia and Lebanon. They also discussed the latest developments in Lebanon and ongoing efforts to address them. Several officials from both sides were present at the meeting.
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Saudi Fund for Development and World Bank Group Sign Landmark MoU for Global Sustainability
The Saudi Fund for Development (SFD) and the World Bank Group have signed a pivotal memorandum of understanding (MoU) to advance international development cooperation and promote sustainable growth in emerging economies. The agreement was formalized by SFD Chief Executive Sultan Abdulrahman Al-Marshad and World Bank President Ajay Banga during the 2024 annual meetings of the International Monetary Fund (IMF) and the World Bank.
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Top US, Saudi military generals discuss situation in Syria and Lebanon
The top US and Saudi military generals discussed security and stability concerns in the Middle East, specifically the situation in Syria and Lebanon, according to a Pentagon readout of the call. The Pentagon said that the Chairman of the Joint Chiefs of Staff, Gen. CQ Brown, and Chief of General Staff, Gen. Fayyad Al-Ruwaili, spoke about the importance of peacefully de-escalating tensions in the region. “The two generals spoke about ways to increase the strength of the bilateral relationship between the US and Saudi Arabian militaries, including capacity building, military training, and exercises,” Joint Staff Spokesman Jereal Dorsey said. “More broadly, they expressed a shared commitment to establish a strong coalition of regional partners that presents a powerful front to deter aggression and uphold regional stability.”
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Turkey’s central bank expected to start cutting rates next week: Reuters poll
Turkey's central bank is expected to start a cycle of interest rate cuts next week after eight months of steady policy, according to a Reuters poll on Thursday. Fourteen of 17 poll respondents forecast that the bank would cut its policy rate next Thursday, according to the poll. Three respondents expect the central bank to keep rates on hold until the first quarter. While most expected that the easing cycle will be launched this month, economists differed over the size of the first cut.
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Women Driving in Saudi Arabia: Female Perceptions Five Years after Lifting of the Ban
Survey findings suggest most women agree that there has been vast improvement, but they insist that the battle for equality is far from over. Indeed, there has been some resistance to the reforms among those who see the changes as pandering to the West. Overall, though, the survey findings suggest that the majority of women in Saudi Arabia want more rights, more women in leadership roles, more safety that they do not feel they have under the male guardianship system, and to be viewed as equal to their male counterparts.
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The Transformative Power of Sculptures and Landmarks in Urban Spaces: The Case of AL Khobar, Saudi Arabia
The Mujassam Wattan competition, aligned with Saudi Vision 2030, has been a catalyst for integrating meaningful public art into cities across the Kingdom. By inviting artists and designers to create works inspired by Saudi heritage and aspirations, the initiative fosters cultural expression while enhancing urban spaces. In Alkhobar, the competition resulted in the creation of Alarda and Alkhobar Memory, two sculptures that transformed the city's sea front into a cultural and social hub. These works exemplify how public art can redefine spaces, connect communities, and highlight local identity.
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Goldman Sachs Names Alzaim Saudi CEO as US Bank Boosts Presence
Alzaim will also continue in his role as head of investment banking for Saudi Arabia, according to an internal memo seen by Bloomberg. He joined Goldman in 2021 as an executive director and was named managing director in 2023. Prior to that, he served as an associate director in the investment banking advisory team at HSBC Saudi Arabia. He succeeds Khalid Albdah, who left Goldman after nearly a decade in October. Albdah has since been named as the head of the Middle East, North Africa and New Markets business of Neuberger Berman.
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Lebanon’s Hezbollah aims to rebuild longer term despite Israeli blows, US intel says
Lebanon's Hezbollah has been significantly degraded militarily by Israel, but the Iran-backed group will likely try to rebuild its stockpiles and forces and pose a longterm threat to the U.S. and its regional allies, four sources briefed on updated U.S. intelligence told Reuters. U.S. intelligence agencies assessed in recent weeks that Hezbollah, even amid Israel's military campaign, had begun to recruit new fighters and was trying to find ways to rearm through domestic production and by smuggling materials through Syria, said a senior U.S. official, an Israeli official and two U.S. lawmakers briefed on the intelligence, speaking on condition of anonymity.
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Saudi Arabia and World Bank Group to Establish a Global Knowledge Hub in Riyadh
The World Bank Group–Saudi Arabia Knowledge Hub (K-Hub) will serve as a platform for knowledge generation and exchange to drive greater development impact for countries. The K-Hub will facilitate inbound and outbound knowledge transfer, collaboration on innovative research, capacity building programs, and evidence-based policy solutions. “Diversifying economies and driving policies that lead to a more competitive and efficient business environment are key to success,” said Ajay Banga, President of the World Bank Group. “The new Knowledge Hub being created by the World Bank Group and Saudi Arabia is a key step forward to scale up and extend the wide reach of global knowledge critical to delivering such impact.”
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