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  • Digital banking enhanced in Saudi Arabia thanks to new agreements with Ministry of Investment

    Saudi Arabia can expect a sea change in its digital banking services after the Ministry of Investment signed memorandums of understanding with Al-Rajhi Bank, Alinma Bank, and Banque Saudi Fransi. According to the Saudi Press Agency, the MoUs aim to enhance the role of the digital banking sector and help these institutions provide better services to investors. The agreements will also provide facilities to companies to assist them in enriching the investment journey in a way that works to promote the growth and diversification of the national economy, SPA reported.

  • Report: PFL Sells $100M+ Minority Stake to Saudi Arabia’s Public Investment Fund

    On Wednesday, the Professional Fighters League announced the sale of a minority stake to SRJ Sports Investments, a company launched earlier this month by Saudi Arabia's Public Investment Fund. According to ESPN's Marc Raimondi, the commitment from SRJ to the PFL is worth "more than $100 million," with one source saying it "could be worth substantially more" than that number. As part of the deal, the PFL will launch a new regional league called PFL MENA in 2024, and SRJ will be an investor in the new league to "support PFL's expansion into Saudi Arabia and the Middle East," per Raimondi.

  • Spain Says It’s Analyzing Saudi Telecom Investment in Telefonica

    Spain is analyzing Saudi Telecom Co.’s plan to become Telefonica SA’s largest shareholder, and has legal instruments to protect the country’s strategic interests, Prime Minister Pedro Sanchez said. “The government is analyzing the investment operation thoroughly,” Sanchez said on Friday at an event in Madrid. “We have the adequate instruments to exercise the necessary controls and we will guarantee that at all times national defense and security, understood in a broad sense, will be safeguarded. And we also guarantee that any foreign investment will not exceed the limits that would involve undue influence over strategic companies, or access to critical technologies.”

  • Report: PFL Sells $100M+ Minority Stake to Saudi Arabia’s Public Investment Fund

    On Wednesday, the Professional Fighters League announced the sale of a minority stake to SRJ Sports Investments, a company launched earlier this month by Saudi Arabia's Public Investment Fund. According to ESPN's Marc Raimondi, the commitment from SRJ to the PFL is worth "more than $100 million," with one source saying it "could be worth substantially more" than that number. As part of the deal, the PFL will launch a new regional league called PFL MENA in 2024, and SRJ will be an investor in the new league to "support PFL's expansion into Saudi Arabia and the Middle East," per Raimondi.

  • Saudi-India Investment Forum Builds On Business Impact Of G20 Summit

    India is Saudi Arabia’s second-largest trading partner, whereas the Kingdom is India’s fourth-largest. Bilateral trade reached an all-time high of $52.75 billion in 2022-23. At Monday’s investment forum, the two nations signed a comprehensive energy partnership deal at a time when India — the world’s third-largest oil importer — is looking to become a net exporter of renewable energy. India has targeted achieving 5 million tons of green hydrogen capacity annually, along with an additional 125 gigawatts of renewable energy capacity by 2030. India is also looking at having 500 GW of renewable energy capacity by the end of the decade.

  • Mixed martial arts investment latest example of Saudi Arabia’s foray into global sports

    Georgetown University-Qatar visiting associate professor Danyel Reiche, an expert on sports and politics in the Middle East, said countries that try to use sports to improve their global standing can make up only so much ground. In Saudi Arabia’s case, its extensive spending is more about attracting major events to that country. The 2034 Asian Games already are scheduled to take place there.

  • ‘Game-changing investment’: Biden on India-Middle East-Europe Economic Corridor

    European Union President, Ursula von der Leyen, pinpointed the efficiency the corridor promises by significantly reducing travel time by 40%, articulating it as the "most direct connection between India, Middle East, and Europe."

  • Saudi investments in Egypt reach 32 bln USD: minister

    "We look forward to greater partnership and cooperation in trade and investment between the two countries," Ahmed Kamali, Egyptian deputy minister of planning and economic development, added. Kamali's remarks came during his meeting in Cairo with a Saudi delegation led by Saudi Assistant Minister of Economy and Planning Suleiman Al-Obaid, where they discussed ways to boost economic cooperation.

  • Saudi Arabia, India sign 47 MoUs to bolster investment landscape

    Saudi Arabia and India have signed a bilateral agreement to bolster the investment climate in both countries, said a senior minister at an ongoing investment meet in New Delhi. Speaking at the India-Saudi Investment Forum in New Delhi, Badr Al-Badr, the deputy minister of investor outreach at the Saudi Ministry of Investment, said: “The Ministry of Investment of Saudi Arabia and Invest India have signed a bilateral agreement to strengthen mutual investment endeavors and have given the comfort zone to investors and traders to do more business.”

  • Pakistan moves to attract major investment from GCC

    In June and amid severe economic challenges, Pakistan established a Special Investment Facilitation Council (SIFC). This will provide a one-off window for foreign investors, with 28 high-value projects to be offered to allies. A sovereign wealth fund will provide equity for joint ventures with foreign nations. The SIFC has also been given legal cover to expedite deals with less bureaucracy. Islamabad has reportedly identified around 23 countries to pitch these projects to. But Pakistan’s top priorities are Bahrain, Qatar, Saudi Arabia, and the United Arab Emirates (UAE).