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  • Investing in Middle East Healthcare for both Financial and Social Returns
     

    It is no secret that Gulf Cooperation Council (GCC) governments are spending billions of dinars, riyals and dirhams on upgrading their healthcare infrastructure. Local and regional newspapers are filled with stories on newer, bigger and flashier hospital projects. Saudi Arabia’s 2013-2014 budget includes funds for 19 new hospitals in addition to the 102 hospitals currently […]

     
  • ‘Security, Lack of Co-Operation’ to Blame in Delay of Newcomers to Saudi’s Mobile Market, Report Finds
     

    Reuters reports that state security requirements and a lack of co-operation from Saudi Arabia’s existing telecom operators have delayed the launch of two new mobile companies until later this year, citing their chief executives. “VMMEA in March said it hoped to launch services in the first half of 2014, while Mobily initially said its Jawraa’s […]

     
  • New President for KAUST in Saudi Arabia
     

    In a press release today, the King Abdullah University of Science and Technology (KAUST) in Thuwal, Saudi Arabia, announced a new president in Dr. Jean-Lou Chameau, who will be the second to serve in that post since the university’s inception. Dr. Chameau previously served as President of the California Institute of Technology in Pasadena.

     
  • Home boom aids Saudi Telecom profit surge
     

    Soaring demand for broadband helped Saudi Telecom Co (STC) post a 60 percent increase in first-quarter profit on Wednesday, with the former monopoly reporting rising revenues in its mobile, fixed line, corporate and wholesale units. The former monopoly, which will pay a quarterly dividend of 0.5 riyals per share, made a profit of 2.52 billion […]

     

MUST-READS

  • Saudi Stocks Eke Out Small Gain After STC Pares Loss

    The telecom operator was the biggest decliner on the gauge by points, after the kingdom’s wealth fund sold part of its stake at a discount. Its shares closed down 2.7%, paring earlier losses of as much as 6.2%. The timing of the secondary share offering in Saudi Telecom Co. was “quite suboptimal, towards year-end with liquidity drying up in the market, when books are being closed, and in tandem with the IPO of Tadawul,” said Ziad Itani, an executive director at Arqaam Capital equity research. “We do not see the STC hiccup as an indication for weak appetite on the upcoming IPO flurry, but rather a technical one-off.”

  • Saudi sovereign fund PIF selling 5.01% stake in STC in secondary offer

    PIF plans to sell 100.2 million shares at a price range of 100 riyals to 116 riyals per share, potentially raising as much as 11.623 billion riyals ($3.10 billion) at the top end of the range.

  • Investcorp launches Saudi Pre-IPO Growth Vehicle

    The Vehicle is dedicated to investing in a diversified portfolio of companies at a “pre-IPO” stage of development in Saudi Arabia, providing investors with an opportunity to gain exposure to growing and market-leading businesses in the Kingdom. It aims to raise US $500 million, targeting high growth and underserved sub-sectors such as healthcare, consumer, transport and logistics, and business services.

  • Investcorp to launch $500 mln pre-IPO fund, to list fifth Saudi company in 2022

    Bahrain-based Investcorp plans to launch a $500 million Saudi Arabian fund to invest in private companies that will be eventually listed on the Saudi bourse, its co-chief executive said on Tuesday.

  • Saudi Arabia’s ‘solutions by stc’ goes public; offers 20 percent share capital

    The company has been operating in Saudi Arabia for over 25 years, and has achieved a 13 percent market-leading share of the Kingdom’s business-to-business information technology services market.

  • Mumzworld Online Retailer Bought by Saudi’s Tamer Group as FirstCry Gains Ground

    A Saudi conglomerate will buy the Middle East’s largest online children-goods retailer, underscoring the growth of e-commerce in the region amid increasing competition for business. Dubai-based Mumzworld said on Monday that it signed a sales and purchase agreement with Jeddah-based Tamer Group, describing it as the region’s first “woman-led e-commerce transaction.” Financial details weren’t disclosed.

  • Investcorp weighs taking Saudi Arabia’s Al Borg public

    Middle Eastern fund Investcorp is considering a public share sale of Saudi Arabia's Al Borg Medical Laboratories, two sources familiar with the matter said. Bahrain-headquartered Investcorp invited banks to pitch for a planned listing of Al Borg, one of the largest private medical laboratory chains in the Gulf, said the sources, declining to be identified as the matter is not public.

  • Saudi Central Bank adds Geidea & STC Pay to national payment system

    To strengthen the financial sector in the Kingdom, payments brands in Saudi Arabia (mada, SADAD, SARIE and Esal) bonded under the umbrella of Saudi Payments, which acts as the operator of the national payment infrastructure in the Kingdom.

  • STC tops list of Middle East’s most valuable telecoms brands

    Brand Finance analyzed around 5,000 of the biggest brands around the world. Brand value is understood as the net economic benefit that a brand owner would achieve by licensing the brand in the open market.

  • STC’s Q4 net profit jumps 15.6% to $714m

    The STC Consumer Business Unit’s revenue has grown as a result of 27.5 percent increase in FTTH (fiber-to-the-home) and 10.6 percent increase in broadband subscribers, in addition to a 9 percent increase in data revenue during the current period compared to the previous period.