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  • Saudi investment fund assets drop to SAR 507.7B in Q3

    The total value of assets held by public and private investment funds in Saudi Arabia decreased by 1% quarter-on-quarter (QoQ) to SAR 507.7 billion by the end of the third quarter of 2023.   The number of investment funds rose to 1,209 by the end of the three-month period, the highest on record, including 283 and 926 public and private funds, respectively, according to a report issued by the Capital Market Authority (CMA).   The number of subscribers to Saudi investment funds stood at nearly 1.13 million in Q3 2023, rising from 901,300 in the previous quarter.   Investment funds include a group of securities, selected based on specific criteria that achieve the fund's investment objectives and divided into public and private funds.

  • Saudi Labor Law enhancements announced to promote investment in the Kingdom of Saudi Arabia in 2023

    The Kingdom of Saudi Arabia's (KSA) employment and environment has witnessed extensive development in 2023, in particular in the last quarter of the year in the run-up to the Ministry of Investment (MISA) Regional Headquarters (RHQ) programme deadline of 1 January 2024. No formal update has been made to the KSA Labor Law and its Implementing Regulations (KSA Labor Law)1 since the 2021 consultation which proposed changes to it. However, the Ministry of Human Resources and Social Development (MHRSD) has actively been working on improvements to increase efficiency and enhance the rights of employees and employers in KSA. A summary of these changes and their impact for employers are discussed below.

  • Chefaa raises $5.25 million investment to solidify presence in Saudi Arabia

    Chefaa, a patient-centric pharmacy benefits platform, has secured $5.25 million in a strategic leap from new and existing investors. It was co-led by Newtown Partners (South Africa) and Global Brain (Japan), with GMS Capital Partners LLC (US), Verod-Kepple Africa Ventures (Nigeria), and M3, Inc. (Japan). The investment comes after Chefaa's successful launch of operations in KSA, where Chefaa is now operating in 8 Saudi cities. Moreover, this strategic funding will support Chefaa's efforts to scale all models designed to digitise the supply chain and empower industry stakeholders, which inevitably reflect on users’ experiences and boost compliance with treatment. The main mission of Chefaa remains to lead the safe digital transformation of healthcare through a patient-centric, comprehensive approach.

  • Saudi investment funds surpass one million participants milestone in Q3

    According to official data, the number of subscribers in public and private investment funds in Saudi Arabia has surpassed one million for the first time. At the end of the third quarter of 2023, there were over 1.126 million subscribers, marking a significant increase compared to the same period last year when the number stood at 677,400. This represents a remarkable 66 percent growth. The real estate sector, encompassing both public and private funds, accounted for the largest number of subscribers, SPA reported.

  • Going Big: Assessing the Growth Ambitions of the Saudi Public Investment Fund

    As its global and domestic footprint has grown, the PIF’s assets under management have risen rapidly. It is currently the world’s seventh-largest sovereign wealth fund. Looking ahead, the PIF aims to reach 4 trillion riyals ($1.1 trillion) of assets under management by 2025 and 7.5 trillion riyals ($2 trillion) by 2030.

  • Opinion: Saudi’s best foreign investment will be in Gaza

    Yet it’s possible to imagine a better scenario. If Israel ditches Netanyahu’s discredited far-right administration, a more moderate government might reopen Palestinian peace talks. Gulf states, the Carnegie Endowment for International Peace theorises, could promote a new version of the 2002 Arab Peace Initiative. The first incarnation saw major Arab states offer peace and normalised relations with Israel in return for measures that included the establishment of a sovereign Palestinian state. In 2024 Palestinians could be offered, among other things, financing and diplomatic assistance to recover.

  • More than 60 deals worth $26.5B signed at Saudi-China Investment Conference

    Saudi Arabia and China signed on Dec. 12 more than 60 memorandums of understanding (MoUs) and investment agreements with a total value exceeding $26.5 billion.   The deals cover key sectors and were signed in the presence of Minister of Investment Khalid Al-Falih and Chinese Vice Minister of Commerce Li Fei, on the sidelines of China-Saudi Investment Conference.   The conference witnessed the attendance of nearly 1,200 officials from both the government and private sectors of both countries.

  • Saudi PIF allocates $3bn for investments in Iraq, says ambassador

    Saudi Arabia’s Public Investment Fund (PIF) has allocated $3 billion for investments in various sectors in Iraq, the country’s envoy in Baghdad said on Wednesday. Saudi Ambassador to Iraq Abdulaziz Al-Shammari's remarks to the Iraqi state media INA came on the sidelines of a signing ceremony of a partnership agreement in the industrial field.

  • Saudi Arabia NEOM Investment fund to hold 6% in Italy’s Technogym

    Saudi Arabia NEOM Investment Fund (NIF) will hold 6% of Technogym (TGYM.MI) share capital after an 111-million-euro ($120.83 million) investment and intends to be a long-term minority shareholder in the Italian fitness-equipment maker, it said on Friday. In a reverse accelerated bookbuilding (RABB) operation on Thursday, NIF bought 8.8 million shares at 9.20 euros each from other investors and entered a derivate solution for the purchase of a further 3.3 million ordinary shares, the statement said.

  • Saudi to offer 100 investment opportunities in Northern Borders for SAR 20B: Al Falih

    Minister of Investment Khalid Al Falih said the logistic connectivity with neighboring countries to the north, such as Iraq and Jordan, is an attractive investment opportunity.   He told the Northern Border Investment Forum, which launched today, Nov. 25, that there are nearly 100 new investment opportunities worth SAR 20 billion in the province, in addition to the existing opportunities that are valued at SAR 80 billion.   The Kingdom has a project that will help it rank as the world's third biggest phosphate producer, Al Falih said.