Wednesday, April 2
03:25
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Riyadh

Investment

U.S.-Backed Fund Manager Seeks Approval for First Mutual Fund to Track Saudi Arabian Stock Market

What’s new: A U.S.-backed fund manager is seeking regulatory approval for what may become the first mutual fund available to Chinese mainland investors that tracks the Saudi Arabian stock market. The China Securities Regulatory Commission on Wednesday received an application from Huatai-PineBridge Fund Management Co. Ltd. to register a mutual fund that would invest in the CSOP Saudi Arabia ETF,...

Saudi Arabia’s Public Investment Fund in Talks to Finance Second IPL

Saudi Arabia’s Public Investment Fund (PIF) is engaged in advanced negotiations to finance a second Indian Premier League (IPL) that would be held annually in the autumn, potentially posing a significant threat to international cricket. The Board of Control for Cricket in India (BCCI) has been considering launching a second franchise competition for many years, and discussions with PIF representatives...

Saudi Arabia and China Strengthen Aquaculture Investments

Investments in the aquaculture sector between Saudi Arabia and China are set to grow as discussions took place at the Global Investment Promotion Conference in Shenzhen, China. Representatives from Saudi Arabia's Ministry of Environment, Water, and Agriculture engaged with specialized Chinese firms to explore and expand opportunities in the sector. The conference aimed to showcase investment prospects in Saudi Arabia's...

Yasir Al-Rumayyan: Most Influential Person in Sports Business 2023

SBJ's Most Influential People in Sports Business for 2023 highlights Yasir Al-Rumayyan, the governor of Saudi Arabia's Public Investment Fund (PIF), as the top figure reshaping the industry. Al-Rumayyan's global influence spans various sports, including golf, soccer, combat sports, and motorsports, solidifying his position as the most influential person in sports business for 2023. In an op-ed by SBJ's Abe...

Saudi Arabia Grants 83.9% More Industrial Licenses in Q3

Saudi Arabia has witnessed a significant increase in industrial licenses granted in the third quarter, with a surge of 83.9% compared to the same period last year, according to data from the Investment Ministry. This growth is attributed to the government's efforts to enhance the competitiveness of the industrial environment, promote local content, and support domestically manufactured products. The rise...

Saudi Arabia to Invest $100 Million to Boost Tourism and Aviation

Saudi Arabia's General Authority of Civil Aviation (GACA) has revealed plans to invest $100 million in order to further enhance the country's tourism efforts and aviation strategy. The investment aligns with Vision 2030, Saudi Arabia's long-term economic development plan. The announcement was made by Abdulaziz Al-Duailej, the president of GACA, during the 15th International Conference on Air Services Negotiations in...

Saudi Arabia’s NEOM Investment Fund Acquires 6% Stake in Technogym

Saudi Arabia NEOM Investment Fund (NIF) has announced its acquisition of a 6% stake in Technogym, the Italian fitness equipment maker. The investment, totaling €111 million ($120.83 million), establishes NIF as a long-term minority shareholder in Technogym. In a reverse accelerated bookbuilding operation, NIF purchased 8.8 million shares from other investors and entered a derivative solution for the purchase of...

Saudi Arabia to Begin Construction on $7 Billion Terrestrial Bridge Project

Saudi Arabia to Begin Construction on $7 Billion Terrestrial Bridge Project

Saudi Arabia is poised to undertake a grandiose venture, connecting its eastern and western coasts through an extensive terrestrial bridge. Spanning an extraordinary 1300 km, this project is expected to stand as a momentous achievement in the kingdom's path of growth. The esteemed company "SAR" has been entrusted with the execution of this awe-inspiring endeavor, which comes with a staggering...