Investment

Saudi Arabia has announced nine major investment agreements in the metals and mining sector, totaling over 35 billion riyals ($9.32 billion). These deals, revealed at the World Investment Conference in Riyadh, involve prominent companies like India's Vedanta and China's Zijin Group. This initiative aligns with Saudi Arabia's Vision 2030, aiming to diversify its economy and reduce dependence on fossil fuels....

Saudi Arabia's Public Investment Fund (PIF) has divested its entire stake in concert promoter Live Nation, as revealed by a recent SEC filing. In April 2020, amidst global market instability due to the COVID-19 pandemic, PIF acquired a 5.7% stake in Live Nation, becoming the fourth-largest shareholder. This move was significant as it occurred during a time when Saudi Arabia...

General Catalyst, a prominent venture capital firm from Silicon Valley, has ventured into Saudi Arabia by investing in Lean Technologies, a fintech startup. This marks General Catalyst's initial investment in the region, contributing to Lean's successful Series B funding round of $67.5 million. General Catalyst manages $30 billion in assets and has previously invested in major tech companies like Snap,...

China is set to issue US dollar sovereign bonds in Saudi Arabia for the first time in three years, marking a significant step in strengthening economic ties with the kingdom. Up to $2 billion in dollar debt will be issued in Riyadh, as approved by China's State Council. This move shifts the traditional issuance location from Hong Kong to Saudi...

Hong Kong is looking to strengthen financial ties with Saudi Arabia following a successful visit by its Financial Secretary, Paul Chan Mo-po. During his recent trip, several key agreements were made, emphasizing Hong Kong's vital role in global markets. Chan's visit led to the Hong Kong Monetary Authority and Saudi Arabia's Public Investment Fund agreeing to create a $1 billion...

Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), is shifting its focus back to the domestic economy after years of extensive international investments. The PIF, with assets valued at approximately $930 billion, plans to reduce its overseas investments to 18-20%, a decrease from the current 21% and a significant drop from 30% in 2020. This strategy aims to...

Saudi Arabia's sovereign wealth fund plans to shift its investment focus, reducing foreign holdings and increasing local investments. This was announced by Yasir Al-Rumayyan, the Governor of the Public Investment Fund (PIF), during the Future Investment Initiative. Under Al-Rumayyan's leadership since 2015, PIF has expanded from $150 billion to a $930 billion global entity, with international investments rising from 2%...

Riyadh, Saudi Arabia - A $240 million Islamic Equity Bridge Loan has been announced by IFC to support ACWA Power in enhancing Uzbekistan's renewable energy sector. This was revealed during the Future Investment Institute conference in Riyadh. The financing will back two significant projects: a 1-gigawatt solar PV plant and a 668-megawatt Battery Energy Storage System, along with 500 kilometers...

Boeing's Major Stock Sale: Boeing has executed one of the largest stock sales ever, raising $21.1 billion to strengthen its financial standing and avert a downgrade to junk status. Riyadh Investment Gathering: Global financial leaders convened in Riyadh for the Future Investment Initiative, dubbed "Davos in the Desert." Executives from major firms like Goldman Sachs and Morgan Stanley were present,...

Saudi Arabia has initiated a $100 million film fund to attract global film studios, enhancing its burgeoning local film industry. A notable recent achievement is "Norah," which was featured at the Cannes Film Festival. The fund, known as the Saudi Film Fund, involves a 40% investment from Saudi's Cultural Development Fund, in partnership with MEFIC Capital and Roaa Media Ventures,...

Neo Space Group (NSG), supported by Saudi Arabia’s sovereign wealth fund, aims to lease multi-orbit satellite capacity to strengthen its market presence before establishing its own constellation. CEO Martijn Blanken stated that the team is identifying key investment areas. NSG, created by Saudi Arabia’s Public Investment Fund in May, focuses on commercial satellite activities, including communications, geospatial services, navigation, and...

Saudi Arabian investment firm Mawarid Holding has invested in Sceye, a U.S. manufacturer of high-altitude platform systems (HAPS) used for wireless communications. This investment values Sceye at $525 million and will fund research, development, flight programs, and the commercial launch of its technology by 2025. Established in 1968, Mawarid Holding has a varied portfolio in ICT, satellite, and digital solutions,...

Riyadh-based eWTP Arabia Capital, supported by the Saudi Public Investment Fund (PIF), has rebranded as ewpartners. Launched in 2017, eWTP Arabia Capital was the first international private equity firm to create an Asia-Saudi cross-border investment platform. ewpartners has successfully raised and deployed $400 million for its Fund I and is now aiming for $1 billion for Fund II due to...

An Italian business association representing 7,000 companies plans to expand investments in Saudi Arabia and collaborate with local investors as part of Saudi Vision 2030. This decision was announced during the Saudi-Italian Business Forum held at the Federation of Saudi Chambers. The event saw the participation of the Italian Ambassador to Saudi Arabia, Carlo Balducci, alongside representatives from over 140...

eWTP Arabia Capital, known for its Asia-Saudi cross-border investments, has rebranded to 'ewpartners' as it celebrates seven years in Saudi Arabia. This change highlights its expanded focus on the broader Middle East. Since its inception in Riyadh in 2017, ewpartners has raised and fully invested USD 400 million in Fund I and is now aiming for USD 1 billion for...

Riyadh-based eWTP Arabia Capital has rebranded as ‘ewpartners’ to mark seven years of operations in Saudi Arabia. The firm, known for its Asia-Saudi cross-border investments, has raised $400 million for its first fund and is aiming for $1 billion for its second fund due to strong investor interest. Supported by Saudi Arabia's Public Investment Fund (PIF), ewpartners has invested in...

Saudi Arabia is set to enhance support for companies in Egypt's new and renewable energy sector. During a meeting in Riyadh, Saudi Crown Prince Mohammed bin Salman announced a $5 billion investment in Egypt through the Public Investment Fund. This move aims to strengthen economic and investment ties between the two nations. Investment Boost Egyptian Prime Minister Mostafa Madbouly highlighted...

Saudi Arabia's PIF Drives E-Mobility with $39B Investment Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), is leading the country's e-mobility advancements with a planned $39 billion investment. Heiko Seitz, PwC’s global e-mobility leader, highlighted this during the EV Auto Show in Riyadh. Seitz explained that by 2030, PIF will inject approximately $39 billion to develop a comprehensive...

SURJ Sports Investment from Saudi Arabia is looking to acquire a minority stake in the EuroLeague basketball competition. Partnering with private equity firm General Atlantic, SURJ is part of a bid to purchase about a third of EuroLeague Commercial Assets, valued at €1 billion (US$1.11 billion). SURJ, a venture from Saudi Arabia’s Public Investment Fund, is led by former A-Leagues...

During a meeting in Riyadh, Saudi Crown Prince Mohammed bin Salman announced a US$5 billion investment in Egypt through the Saudi Public Investment Fund (PIF), aiming to bolster economic ties. Egyptian Prime Minister Mostafa Madbouly highlighted the active role of Egyptian investment companies in Saudi Arabia. "We are finalizing an agreement to protect joint investments, which will boost investments between...

During a meeting in Riyadh, Saudi Crown Prince Mohammed Bin Salman announced a USD 5 billion investment in Egypt through the Kingdom’s Public Investment Fund (PIF), alongside Egyptian Prime Minister Dr. Mostafa Madbouly. The leaders discussed enhancing bilateral relations and economic ties between their countries. Prime Minister Madbouly highlighted ongoing efforts to finalize an agreement protecting joint investments, which aims...

The Saudi Public Investment Fund's SURJ Sports Investment is selling a €1 billion minority stake in the EuroLeague, a prominent European basketball competition. Reports indicate that the firm may invest alongside private equity company General Atlantic. Other contenders include British investment firm BC Partners, which recently acquired a stake in sports agency GSE Worldwide. EuroLeague Commercial Assets, owner of EuroLeague...

Trade between Saudi Arabia and Egypt exceeded $33 billion in 2022 and 2023. Egyptian Prime Minister Dr. Mostafa Madbouly announced the completion of the Saudi-Egyptian Investment Protection Agreement, which will be implemented within two months. He also promised to resolve any remaining issues faced by Saudi investors in Egypt by the end of the year. Commitment to Saudi Investments During...

Saudi Crown Prince Mohammed bin Salman has announced a $5 billion investment in Egypt through the Saudi Public Investment Fund (PIF), according to the Egyptian cabinet. This announcement followed a meeting between the Crown Prince and Egyptian Prime Minister Mostafa Madbouly in Riyadh. While details on the investment's timeline and nature were not disclosed, it was described as the “first...

The Saudi Arabian Crown Prince, Mohammed bin Salman Al Saud, and Egyptian Prime Minister, Mostafa Madbouly, met in Riyadh to discuss enhancing bilateral relations. The discussions focused on cooperation strategies to advance mutual interests. Madbouly, who led a high-level delegation, engaged with several Saudi ministers during his visit, aiming to attract Saudi investments and bolster economic cooperation. Following the meeting,...

Lombardy, Saudi Arabia Forge Path to Future Opportunities The Lombardy region, with a GDP exceeding €400 billion, stands as a cornerstone of the Italian economy and a significant global player. It has consistently aimed to enhance its international presence, seeking investment, innovation, and global cooperation. Recently, a pivotal meeting took place in Milan between Khalid Al-Falih, Saudi Arabia’s Minister of...

The sports investment firm owned by Saudi Arabia’s Public Investment Fund (PIF) is participating in the sale process for EuroLeague, Europe's premier basketball competition, which is seeking to sell a minority stake valued at €1bn. SURJ Sports Investment, a subsidiary of the $925bn PIF, is considering a joint investment with private equity firm General Atlantic to acquire a stake in...

Egyptian Prime Minister Dr. Mostafa Madbouly announced the finalization of the Saudi-Egyptian Investment Protection Agreement, set to be activated within two months. Remaining issues facing Saudi investors in Egypt are expected to be resolved by year-end. During a meeting with the Saudi private sector in Riyadh, Madbouly reaffirmed Egypt's commitment to supporting Saudi investments. A dedicated unit within Egypt's Ministry...

Saudi Arabia has significantly increased its issuance of investment licenses to Egyptian businesses, more than doubling in 2024, highlighting a growing economic partnership between the two countries. During a meeting in Riyadh with Egyptian Prime Minister Mostafa Madbouly, Saudi Investment Minister Khalid Al-Falih emphasized Egypt's vital role as a key economic partner. In 2022, Saudi exports to Egypt reached $6.44...

Saudi Arabian Mining Company (Maaden) is set to acquire a 25.1% stake from US aluminium producer Alcoa in their joint venture for $1.1 billion (Dh4 billion). The transaction includes 86 million Maaden shares, valued at $950 million (Dh3.4 billion), plus $150 million (Dh550 million) in cash. Established in 2009, the joint venture operates a comprehensive mining complex in Saudi Arabia....