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Four of Seven Saudi Bodies are Returned Home as Kingdom Reels from Lost Youth in Istanbul Terrorist Attack
- January 4,2017
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- SUSTG Team
The bodies of four Saudis who were slain in the attack on an Istanbul nightclub were returned home as the Kingdom reels from the loss of its citizens at the hands of Daesh terrorists abroad. The attack killed seven Saudis and 39 total from 14 countries. Included in the four dead returning to the Kingdom today […]
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Saudi Arabia’s SIDF Gets New Investment Muscle to Enter New Industries
- December 16,2016
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- SUSTG Team
Saudi Arabia’s Energy Minister Khalid al-Falih said that Saudi Arabia plans to boost the capital of the Saudi Industrial Development Fund (SIDF) by SAR6bn ($1.6bn) to help finance the kingdom’s entry into new industries. The additional planned allocation would be on top of the SAR3bn ($800m) of capital recently injected in the fund, Falih said, […]
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Surprise Early Gains for Saudi Leaders in Fight Against State Spending as Successful Deficit Cuts Seen Beyond Projections – Reuters
- December 13,2016
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- SUSTG Team
Saudi Arabia’s 2017 state budget is “likely to show Riyadh has shrunk a huge deficit caused by cheap oil faster than expected, which may let it spend more to bolster a shaky economy” next year, according to a report in Reuters by reporters Marwa Rashad and Andrew Torchia. After a tough year economically for the Kingdom, […]
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Saudi Arabia Replaces Labor Minister, Appoints 30 Women to Shoura Council
- December 5,2016
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- SUSTG Team
Saudi King Salman appointed a new Minister of Labor on Sunday and appointed 30 women to the Shoura council as the Kingdom seeks to turn short term economic pain into long term stability and diversification with its Vision 2030 policy. Dr. Ali bin Nasser al-Afis (also spelled Ali bin Nasser al-Ghafis) is the new Minister, replacing Dr. Mufrej […]
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$800m King Abdulaziz Center for World Culture in Dhahran Opens
- December 2,2016
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- SUSTG Team
Saudi Aramco opened the $800 million King Abdulaziz Center for World Culture in Dhahran on Thursday, a large steel structure that aims to deepen knowledge and creativity among Saudi youth, according to reports. According to Reuters, the center, known as “Ithra” (“to enrich” in Arabic) is located close to Saudi’s “prosperity well” that tapped some of the […]
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‘Shamoon’ Comeback: Several Saudi Government Agencies Attacked by Malware from Iranian State-Sponsored Hack
- December 1,2016
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- SUSTG Team
State-sponsored hackers have reportedly conducted a series of destructive malware attacks on Saudi Arabia over the last two weeks, including erasing data and wreaking havoc in the computer banks of the agency running the country’s airports and hitting five additional targets, Bloomberg reports. U.S. security firms said that a version of Shamoon, the computer virus […]
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Saudi Arabia Begins to ‘Inject Large Amounts of Money Into Economy’ to Boost Growth
- November 29,2016
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- SUSTG Team
Saudi Arabia’s government has begun “injecting large amounts of money into the economy to boost growth at the end of this year after a sharp slowdown due to low oil prices,” Reuters reports citing Saudi Central Bank data. After raising $17.5 billion last month in its first international bond issue, Saudi Arabia “did not hold that […]
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Government Makes Payments to Construction Companies as MMG Sends Letter to Deputy Crown Prince Warning of Operations Halt
- November 21,2016
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- SUSTG Team
Saudi Arabia has reportedly made good on $10.7 billion that it owed to private sector companies, according to Arab News, but one construction firm said on Monday that it wrote directly to the Deputy Crown Prince warning it may need to cease operations. Mohammad Al Mojil Group (MMG) said in a short statement through Saudi […]
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Three New Ventures by MiSK to Boost Innovation, Training and Investment
- November 18,2016
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- SUSTG Team
Deputy Crown Prince Mohammed bin Salman’s MiSK Foundation launched three new strategic ventures in Riyadh aimed “at comprehensively building the skills, knowledge and capability for economic growth within the Saudi Arabian tech sector,” Reuters and the Saudi Gazette reports. MiSK Academy, MiSK Technovation and MiSK Booster mark a significant new development in the foundation’s work to empower, […]
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Updated LinkedIn Profiles Indicate Key Hires by Saudi Arabia’s PIF
- November 17,2016
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- SUSTG Team
Recently updated LinkedIn profiles indicate a hiring spree by Saudi Arabia’s Public Investment Fund (PIF) as the Kingdom looks to use the sovereign wealth fund to jump-start its reform plans. Reuters reports that several executives have updated their LinkedIn profiles to indicate a new affiliation with the PIF, but the PIF did not comment directly on […]
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MUST-READS
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TurkeyTurkey’s Erdogan says court will decide fate of detained U.S. pastor | Reuters
Turkish President Tayyip Erdogan said a Turkish court, not politicians, will decide the fate of an American pastor whose detention on terrorism charges has hit relations between Ankara and Washington.
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Banking and FinanceDeutsche Bank appoints GM of Riyadh branch
Deutsche Bank has appointed Mohammed Alajmi as general manager of its branch in Riyadh, Saudi Arabia, it said in a statement.
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Iran SanctionisHow Europe plans to skirt Trump’s sanctions and keep doing business with Iran
With a second round of U.S. sanctions set to take effect in November, European officials are working at cross-purposes with Trump's "maximum pressure" campaign as they try to preserve as much business as possible with Iran.
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Entrepreneurs15 Women Entrepreneurs From Saudi Arabia Visit U.S. To Develop Their Pitches
Saudi Arabia has nothing like it, she says, and that pretty much describes all of these ventures - new to the Saudi market
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EgyptCommentary: Soccer superstar Mohamed Salah’s feud with Egyptian authorities is giving voice to popular frustrations
Salah’s credentials as a world-class player, along with his reputation for being humble and grounded, have put Egypt’s government in an unfamiliar bind.
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SyriaSyria war: The entrepreneur opening bars in Damascus
Somar says nightlife in the city is thriving, despite Damascus being ranked the least liveable city in the world earlier this month.
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WomenSaudi women tech entrepreneurs flourish at US incubator
Since its inception in 2014, Halcyon Incubator's full-time fellowship has supported 61 ventures it says have raised more than $56 million and created some 500 jobs, impacting 675,000 people
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ME EntrepreneursMiddle Eastern entrepreneurs face a challenging road to success
The Arab World Competitiveness Report finds that start-ups in the Middle East and North Africa (MENA) face a host of often-debilitating hurdles.
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ConstructionCanada’s Biggest Builder Faces ‘New Level of Risk’ in Saudi Feud
Canada’s diplomatic clash with Saudi Arabia is threatening a key pillar of SNC-Lavalin Group Inc.’s growth plan.
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TurkeyTurkey’s Warning to Italian Euroskeptics
Turkey’s currency has lost almost a third of its value against the dollar in the past six months and dropped to a record low this week. The nation’s 10-year borrowing cost touched 20 percent on Tuesday as traders judged insufficient the central bank’s efforts to stem the lira’s slide by modifying reserve requirements.
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