MUST-READS

• Saudi Arabia: Enhanced IP Landscape with New Designs Law

  The amendments to Saudi Arabia’s intellectual property law are reflective of a broader strategic intent to cultivate an innovation-driven economy, aligning with Vision 2030 objectives. By extending the protection period and integrating with international standards, Saudi Arabia is positioning itself as a competitive jurisdiction for intellectual property within the global landscape. For businesses and IP professionals, these changes necessitate a reevaluation of intellectual property strategies, particularly in terms of portfolio management, international filings, and the financial planning of annuities. The extended protection period, in particular, offers a new dynamic in the calculation of the lifecycle value of designs, potentially altering investment and development strategies.

• Saudi-based investment group Energy Capital Group acquires Aujan Industrial Solutions

  Saudi Arabia-based investment group Energy Capital Group (ECG) has completed the acquisition of Aujan Industrial Solutions (AIS), a leading provider of solutions to the oil and gas, petrochemical, metals and mining and water markets with 30 years of experience and expertise. AIS' lines of business include value added distribution, fire and gas solutions, measurement intelligence and technology solutions. This marks the fourth investment of the fund which announced a first close in Q3 2023. The fund plans a further 4-5 investments within 2024. Energy Capital Group is investing in businesses that can capitalise on the significant investment going into regionally relevant value chains and driving the need for technology-based services and turnkey solutions across the industrial supply chain.

• Gulf Capital partners with RDIA to deploy $100 million in Saudi tech sector

  Gulf Capital announced today that it has signed an agreement with the Saudi Research Development and Innovation Authority (RDIA) to deploy over $100 million into the Saudi technology and innovation sector over the next five years. The Letter of Intent (LoI) was signed in Riyadh by Dr Rami Niazi, Vice Governor of Strategy at the Saudi Research Development and Innovation Authority, and Dr Karim El Solh, co-founder and CEO of Gulf Capital.

• US-based CarbonCapture raises $80 mln from Saudi Aramco, others

  Los Angeles-based CarbonCapture, which aims to build machines that suck carbon dioxide out of the air to fight climate change, said it had raised $80 million from investors that include Saudi oil giant Saudi Aramco (2223.SE), opens new tab. The money raised in CarbonCapture's latest major funding round represents one of the largest injections of private capital into direct air capture (DAC) – a technology that has yet to be proven at scale - over the last five years, according industry tracker PitchBook.

• US-based CarbonCapture raises $80 mln from Saudi Aramco, others

  Los Angeles-based CarbonCapture, which aims to build machines that suck carbon dioxide out of the air to fight climate change, said it had raised $80 million from investors that include Saudi oil giant Saudi Aramco (2223.SE), opens new tab. The money raised in CarbonCapture's latest major funding round represents one of the largest injections of private capital into direct air capture (DAC) – a technology that has yet to be proven at scale - over the last five years, according industry tracker PitchBook. "This is exactly what has to happen - this alignment with large industrial partners who have the capacity, the access to capital, the skills to actually scale DAC to a meaningful level," CarbonCapture CEO Adrian Corless said in an interview with Reuters.

• Saudi Aramco raises 2030 gas target as capex growth to slow on oil

  Saudi Arabia's energy giant Saudi Aramco raised its target for increased natural gas production on March 10 and lowered its capital expenditure forecast for crude oil after being ordered to halt work on expanding oil production capacity.

• Saudi Arabian private capital increasingly focused on domestic growth in 2024 and beyond

  The report finds two key themes are driving the future of Saudi Arabia’s position in the private capital landscape: The first theme is Saudi Arabia’s government, investors, and corporates are fostering partnerships with fund managers to bring further knowledge, infrastructure development, and co-investment to the country. From fund managers’ perspectives, Saudi Arabia is now more than just a location for raising investor capital. The second theme is Saudi Arabian appetite for domestic investment through private markets, which continues to swell as home-grown entrepreneurialism, and so investment opportunities, burgeon.

• Saudi artist reimagines Kingdom’s capital in vibrant pixels

  Saudi artist Khaled Makshoush has mastered pixel designs to reimagine Saudi Arabian scenes in a form of art that is personal, soothing and contemporary. Indie and retro-style video games use pixel designs to create a colorful and visual design, but with his tablet and stylus the Riyadh-based artist captures a variety of sights, from construction sites with cranes to the iconic streets of the capital and the serene terracotta-coloured desert.

• How young people are impacting the Middle East’s economic landscape

  CNN's Eleni Giokos sits down with Jihad Azour, director of the IMF's Middle East and Central Asia department, who explains how youth are shaping economies across the region.

• China’s Biggest Fund Manager, Riyadh Capital Sign Pact to Share Local Investment Expertise

  E Fund Management, China's largest fund manager, and leading Saudi Arabian assets manager Riyadh Capital have signed a non-binding agreement to exchange expertise and cooperate in local investment areas. E Fund and Riyadh Capital inked the deal at the two-day Saudi Capital Market Forum in Riyadh on Feb. 20, ACN Newswire reported yesterday. Representatives from the Shanghai and Saudi stock exchange were present at the signing ceremony, according to Shanghai Securities News.

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