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  • Qatar Investment Authority raises stake in Credit Suisse to just under 7%

    Qatar's sovereign wealth fund has increased its stake in Credit Suisse (CSGN.S) to just under 7%, becoming the Swiss bank's second-largest shareholder after Saudi National Bank, in a sign that its Gulf investor base is growing in importance. The Qatar Investment Authority (QIA) bought 139.03 million shares in the Swiss lender, Refinitiv data shows based on a filing on Friday with the Securities and Exchange Commission which quoted its most recent ownership holding as of December 31, 2022.

  • Investment Bank Lazard Boosts Riyadh Hub for MENA With New CEO Hire

    Lazard Ltd. hired Wassim Al-Khatib as chief executive officer for the firm’s advisory business in the Middle East and North Africa, and the boutique investment bank plans to make Riyadh its regional banking hub. Al-Khatib, the former head of Citigroup Inc. in Saudi Arabia, will also be CEO of Lazard Saudi Arabia, according to a statement, confirming a Bloomberg News report. Prior to that Al-Khatib was the head of investment banking at NCB Capital, where he was one of the key bankers involved in Saudi Aramco’s mammoth initial public offering.

  • Saudi Arabia launches Events Investment Fund, SPA reports

    Saudi Arabia has launched an investment fund to support the culture, tourism, entertainment and sports industries, state news agency SPA reported on Tuesday. The Events Investment Fund (EIF) will focus on developing and increasing direct foreign investment opportunities for a contribution of 28 billion riyals ($7.45 billion) to the country's gross domestic product by 2045, SPA added.

  • Elon Musk’s Twitter Vision Wins Support From Qatar Investment Authority

    The chief executive officer of the Qatar Investment Authority says the sovereign wealth fund supports Elon Musk’s vision for Twitter Inc., despite the turmoil that’s accompanied the US billionaire’s takeover. “We engage with the management, with Elon in terms of the plan that he has for the company, and we believe in this, and we trust his leadership in terms of turning around the company,” CEO Mansoor Al Mahmoud said in a Bloomberg Television interview at Davos on Monday.

  • The expansion of Saudi investments in sport: From football to esport

    The Saudi Arabian regime and crown prince Mohammed bin Salman has realised that sport provides a fantastic vehicle for political imagineering and for gaining political goodwill. Through sport, you can stay out of the normal political spotlight and bin Salman also uses sporting events to create new diplomatic relations, new trade agreements, attract tourist, and generally uses sport as a focal point for the position in the international society that the regime attempts to craft.

  • The expansion of Saudi investments in sport: From football to esport

    Saudi Arabia’s engagement in sports is currently one of the hottest topics in the international sports debate particularly since the Kingdom’s takeover of Newcastle United, the announcement of the breakaway golf tournament LIV Golf Invitational Series in early 2022, and Cristiano Ronaldo’s new contract with the Saudi Arabian football club Al Nassr.

  • Venture capital investments in Saudi Arabia up 72% during 2022, to a record-high close to $1 billion

    Although 2021 was a record year for venture funding in the Kingdom, 2022 witnessed unprecedented VC deployment, setting a new record in the amount of VC funding, according to the report published by the venture data platform, MAGNiTT, and sponsored by the Saudi Venture Capital (SVC).

  • Saudi Arabia weighs boosting Pakistan investment to $10 bln – report

    Saudi Arabia said it could increase its investments in the cash-strapped Pakistan economy to $10 billion, the Saudi state news agency reported on Tuesday, as well as increase the ceiling on deposits into the Pakistan central bank to $5 billion. Crown Prince Mohammed bin Salman has directed a study to increase Saudi Arabian investments to $10 billion, from the previous $1 billion announced in August, the news agency reported citing a statement from the Crown Prince.

  • Al-Mudaifer: Saudi Arabia Attracting Foreign Investment to Explore Critical Minerals in the Region

    Al-Mudaifer also stated that the Forum will talk about the emerging mining area, talk about how to build a sustainable mining industry, and learn about the enormous geological potential of targeted areas, pointing out that Saudi Arabia seeks to lead the contribution to the development of the distinguished mining zone extending between Africa and Central and Western Asia.

  • Investment in Intellectual Property Aims to Boost Innovation and Growth in Saudi Arabia

    Saudi Arabia has launched a National Intellectual Property Strategy (NIPST) to encourage and facilitate the creation, development, management, and protection of intellectual property rights. With regard to the financial impact, it is expected to achieve SAR 4.11 billion within 5 years. The country has a favorable investment environment for knowledge-based industries and has put in place a legislative framework to protect intellectual property rights and attract foreign investment in innovation-based projects.