Investment

Initiating a New ETF to Link Hong Kong and Saudi Stock Indices Efforts are in motion to establish an exchange-traded fund (ETF) that will mirror the performance of Hong Kong's stock indices, in collaboration with Saudi Arabian entities. A recent announcement during the first-ever 'Capital Markets Forum' in Hong Kong by Deputy Financial Secretary Michael Wong highlighted the city's engagement...

Riyadh is gearing up to host a landmark event in the aviation sector, the Future Aviation Forum, where it will reveal investment opportunities exceeding $100 billion. This initiative is part of the Saudi Aviation Strategy, aimed at expanding the nation's aviation industry. The forum will serve as a platform to showcase various projects and incentives designed to draw investment into...

The Saudi Arabian employment firm SMASCO announced its intention to raise up to 900 million riyals (approximately $240 million) through an Initial Public Offering (IPO) on the Riyadh stock exchange.The company has indicated that the share price range for the IPO is expected to be between 7 and 7.5 riyals per share, which would value the company at about 2.8...

Abyan Capital, a pioneering firm in Saudi Arabia's robo-advisory domain, has successfully garnered an $18 million Series A investment. The funding round was spearheaded by STV with contributions from Wa'ed Ventures and RZM Investment. This milestone underscores the burgeoning potential of automated financial advice in the region. Launching in 2022, Abyan Capital has been at the forefront, innovating within the...

Lucid Motors remains unprofitable in the initial quarter, forecasting a substantial rise in investment expenses to reach $1.5 billion for the current fiscal year. The Saudi sovereign wealth fund PIF, already a backer of Lucid, has infused an added billion dollars into the company.Lucid Motors reported a revenue of $172.7 million from January to March, with 1,967 electric vehicles delivered....

Saudi Arabia's Robust Asset Position Upheld by Prudent Fiscal Measures The steadfast commitment of the Saudi government to diversify its economy and reduce reliance on oil is expected to maintain the nation's robust asset base. Credit agency S&P Global anticipates that while funding for Vision 2030 initiatives may impact Saudi Arabia's net asset position, the Kingdom's judicious fiscal policies will...

Artal Capital, an investment firm based in Riyadh with expertise in multiple asset classes, has achieved the initial close of its private equity fund that is dedicated to nurturing high-growth, technology-driven startups in Saudi Arabia and the broader Gulf Cooperation Council (GCC) area.With over $600 million in managed assets, Artal Capital, which garnered commitments from the PIF-backed Jada Fund-of-Funds among...

In a landmark deal, Saudi Arabia's Public Investment Fund (PIF) is set to acquire a majority stake in the kingdom's leading telecommunications infrastructure provider, Tawal, effectively paving the way for the formation of the largest telecom tower company in the Gulf region. The sovereign wealth fund has struck an agreement to purchase a 51% share of Tawal from its parent...

Saudi Arabia's Public Investment Fund (PIF) has reached an agreement to purchase a 51 percent share in the kingdom's largest telecommunications infrastructure provider, Telecommunication Towers Company Limited (Tawal), from the Saudi Telecommunications Company (STC Group).The deal assigns Tawal an enterprise value of $5.85 billion and is a strategic move in the consolidation of telecom infrastructure assets within the country.In an...

Saudi Arabia's state-owned Public Investment Fund (PIF) has made a significant move in the telecommunications sector by acquiring a principal shareholding in Saudi Telecom Co.'s tower unit, amounting to $2.3 billion. This strategic purchase is intended to spearhead the formation of the largest telecom tower company within the region.The PIF now controls a commanding 51 percent stake in Telecommunication Towers...

In a significant move within the business media landscape, the Saudi Public Investment Fund (PIF) has secured a controlling interest in Telecommunication Towers Company Ltd (TAWAL), procuring a 51% stake from the STC Group. This strategic acquisition is set to establish the preeminent telecom tower company across the region, as announced by both PIF and STC.The terms of the deal...

The Public Investment Fund (PIF) alongside the Saudi Telecommunications Company (stc Group) has disclosed the completion of a definitive agreement that will see PIF take control of a 51% share in Telecommunication Towers Company Limited (TAWAL), previously held by stc Group. TAWAL, a leader in the telecommunications infrastructure market in Saudi Arabia and the region, is valued at an impressive...

The Saudi Arabian stock market concluded on a positive note over the weekend, with notable upswings in various sectors propelling the overall share values.Upon the session's end in Saudi Arabia, the primary stock index advanced modestly by 0.13%.Al-Rajhi Cooperative Insurance led the surge, jumping 9.96% or 10.40 points, finishing at 114.80. Batic Investments and Logistics Co closely followed, climbing 9.96%...

The Saudi Fund for Development (SFD) has cemented a financial partnership with Saint Kitts and Nevis through a $40 million loan, aimed at powering up the island's energy capabilities.This injection of funds by SFD, known for its financial support to emerging economies, is set to fuel the growth of a power plant initiative within the Caribbean nation.With this project, an...

Experts in the economic sphere are signaling a bright future for Saudi Arabia's investment environment, driven by its robust equity and debt markets. Prominent individuals from the kingdom's sector of the investment bank J.P. Morgan, the financial news service Bloomberg, and Saudi tourism finance entity ASFAR have highlighted the transformative effects of the Vision 2030 plan for economic diversification. The...

Amidst the global economic challenges, the business media sector has been closely monitoring the evolution of foreign direct investment (FDI) trends. The latest 2024 Kearney Foreign Direct Investment Confidence Index has brought forward a story of resilience and optimism in the investment domain, with a clear focus on markets poised for stability, innovation, and growth opportunities.The central figure in this...

The individual spearheading a flagship initiative central to Saudi Arabia's economic diversification strategy is set to court investors in Hong Kong. This move aims to rally support for an ambitious and forward-looking urban development.Nadhmi Al-Nasr, CEO of Neom—a $500 billion high-tech megacity being constructed on Saudi Arabia's northwestern seaboard—will lead a promotional event scheduled for April 19 at M+, located...

The sovereign wealth fund of Saudi Arabia has recently launched a dedicated entity, furnished with a $3 billion capital, aimed at channelizing investments within various sectors in Iraq. This move is in line with the Kingdom's broader strategy to deepen its investment footprint in the Middle East and North Africa (MENA) region.Muteb Al-Shathri, the acting CEO of Saudi-Iraq Investment Co.,...

As the deputy chief investment officer of Sanabil, Saudi Arabia’s sovereign wealth fund’s venture branch, Bader Al Mana, evidenced signs of travel fatigue while discussing his entity's proactive approach in scouting promising artificial intelligence (AI) startups. This conversation took place at The Montgomery Summit in Los Angeles, an exclusive event for startup investors and entrepreneurs. Sanabil is carving out a...

Recent strategic maneuvers by the Public Investment Fund of Saudi Arabia, via its gaming arms Savvy Games Group and ESL FaceIt Group (EFG), have sparked a global dialogue about the kingdom's intentions and its potential sway over the esports landscape. Current trends in sports and leagues indicate a shift beyond geopolitical considerations. A prime example is the relocation of the...

China's investment footprint in Saudi Arabia has expanded dramatically, with the country's greenfield foreign direct investment (FDI) inflow into the Kingdom skyrocketing to $16.8 billion in 2023. This marks an astounding 1,020 percent increase compared to the figures from the year prior.The United States and the United Arab Emirates closely trail behind China, with their greenfield FDI contributions reaching $2.7...

China has risen to prominence as the foremost investor in Saudi Arabia's greenfield projects, with a staggering $16.8 billion directed into the nation in 2023. This represents an unprecedented 1,020 percent increase from the previous year's investments.Emirates NBD's data places the United States and the United Arab Emirates as the subsequent leading contributors of greenfield FDI to Saudi Arabia, with...

Saudi Arabia is setting its sights on artificial intelligence (AI) for its next major investment frontier. With a history of investments in global sports teams and significant stakes in entities like Uber, the kingdom plans to channel a substantial $40 billion into the realm of AI.Discussions have been underway between representatives from Saudi Arabia's Public Investment Fund and the prominent...

China has escalated its investment presence in Saudi Arabia, particularly concentrating on sectors pivotal for non-oil economic expansion. With a significant 58% stake in the region's new business ventures, China's focus has been on industries such as semiconductors, automotive, and metals.The influx of Chinese capital reached $16.8 billion, a substantial leap from the $1.5 billion recorded in the previous year,...

The Saudi Ministry of Industry and Mineral Resources has revealed a new set of mining prospects designed to draw both local and international investors. These prospects are the latest in a series of mining license contests, marking the fifth such event, which will offer exploration rights for an array of minerals including gold, copper, zinc, lead, and silver. These licenses...

The Saudi Fund for Development (SFD) has recently formalized agreements to provide financial support for two significant hydropower projects in Azad Jammu and Kashmir, as reported by Pakistani state media.Under the leadership of CEO Sultan bin Abdulrahman Al-Marshad, the SFD delegation journeyed to Azad Kashmir to finalize the funding arrangements for the Shounter and Jagran-4 hydropower projects, which are expected...

The Saudi Arabian stock market concluded trading on a positive note, with considerable uplifts in multiple sectors propelling the market forward.Upon closing, the Saudi stock index marked an increase of 0.17%.Leading the charge were outstanding performers such as Middle East Paper Co, which saw its shares soar by 9.96% to settle at 44.70. Close behind, National Company for Learning and...

The financial involvement of a single investment fund is not a solid foundation for a bullish outlook on Lucid Group's stock. It is crucial for wise investors to consider the comprehensive landscape when evaluating a company's prospects. Despite the monetary backing from a significant investor, Lucid Group's stock is graded poorly.Diminishing enthusiasm for electric vehicles (EVs) places manufacturers like Lucid...

As Saudi Arabia seeks to expand its economic horizon beyond oil, China has stepped up as its principal foreign investor, injecting a staggering $16.8 billion into the kingdom's various sectors in 2023. This represents a monumental increase from the previous year's $1.5 billion, with a keen focus on industries such as automotive, metals, and semiconductors. These figures, unveiled by Emirates...

Foreign direct investment (FDI) inflows into Saudi Arabia marked a significant increase to SAR13.1bn ($3.49bn) in the final quarter of 2023, a notable 16 percent rise from SAR11.4bn ($3.04bn) recorded in the preceding quarter, according to recent government statistics released on Thursday. The nation has set an ambitious goal of securing $100bn in FDI by 2030, aiming to bolster the...