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  • Head of Saudi investment fund subpoenaed in case over Musk’s ‘funding secured’ tweet

    Elon Musk’s team has subpoenaed the head of Saudi Arabia’s Public Investment Fund as part of litigation over the Tesla CEO’s 2018 tweet that he was considering taking the car company private and had secured funding to do so.

  • Head of Saudi investment fund subpoenaed in case over Musk’s ‘funding secured’ tweet

    Elon Musk’s team has subpoenaed the head of Saudi Arabia’s Public Investment Fund as part of litigation over the Tesla CEO’s 2018 tweet that he was considering taking the car company private and had secured funding to do so. Tesla (TSLA) shareholders sued Musk in 2018, alleging that he did not, in fact, have “funding secured” to take the company private at $420 per share, as he had said in a tweet that year, a number that seemingly referenced the unofficial holiday of cannabis enthusiasts. The tweet caused wild swings in Tesla (TSLA)’s stock that investors claimed hurt their portfolios. Musk eventually settled with the US Securities and Exchange Commission over the tweets, stepping down as Tesla (TSLA) chairman and agreeing to oversight of his social media use, although he has appeared to flout the agreement several times.

  • Setback for GCC investors as Canada bans foreign investments in residential properties

    Investing in a residential property in Canada will be a distant dream for wealthy investors from GCC now, as the country’s ban on foreigners buying residential properties took effect on Sunday, January 1. Canada imposed the ban after the spike in home prices since the pandemic started, CNN Business reported. Cash rich investors from GCC are among the leading international investors in real estate assets in several Western cities.

  • Saudi Arabia’s investments in Egypt hit over $6bn

    Saudi Arabia has invested $6.1 billion into 6,017 projects across Egypt, becoming the second largest investor in the country, local media reported. The kingdom’s investments cover various sectors, including industry, construction, tourism, agriculture, services, finance, communications and information technology, Arab News reported, citing Egypt’s minister of trade and industry Ahmed Samir. Bilateral trade exchange rose 41.3 percent to $4.572 billion in 2021, compared to $3.236 billion in 2020.

  • Saudi Arabia: A Rising Investment Destination

    The VanEck Emerging Markets Equity Investment Team’s recent trip to Saudi Arabia has us excited about the long-term investment prospects of Saudi Arabia and the emerging investment opportunity it presents, though we remain cautious on the punchy valuations the market currently offers. Our visit confirmed that Saudi Arabia’s “Vision 2030” program has moved from being just an ambitious hope to a guiding framework that is being implemented through different realization programs and focus sectors with emphasis on long term investments.

  • Saudi Arabia: A Rising Investment Destination

    The VanEck Emerging Markets Equity Investment Team’s recent trip to Saudi Arabia has us excited about the long-term investment prospects of Saudi Arabia and the emerging investment opportunity it presents, though we remain cautious on the punchy valuations the market currently offers. Our visit confirmed that Saudi Arabia’s “Vision 2030” program has moved from being just an ambitious hope to a guiding framework that is being implemented through different realization programs and focus sectors with emphasis on long term investments.

  • Oman Investment Authority Expects $1.3 Billion From Divestments Next Year

    The Oman Investment Authority plans to raise more than $1.3 billion by exiting its investments in eight sectors next year as Gulf nations increasingly lean on state assets to bolster their finances. The state-run wealth fund plans to exit three companies in the energy sector, Oman News Agency reported. It is also seeking to divest from companies in aviation, tourism, and communications and information technology sectors.

  • CMA publishes amended draft rules for foreign investment in securities

    The main elements of the Draft Rules represented in developing the qualification conditions and facilitating requirements that must be met by the qualified foreign investors (QFIs), including removing the requirements on application for qualification and QFIs assessment agreement and only requiring the QFI to open an investment account in accordance with the Investment Accounts Instructions. In addition, waiving the requirements of assets under management size for some classes. Also, adding a new channel for foreign investment in the Main Market-listed securities by allowing all foreign natural and legal persons to invest in the Main Market-listed securities through discretionary portfolios managed by the Capital Market Institutions.

  • Middle East, Africa riskiest investments in the world: Report

    Tiwari added: “Humanitarian crisis across Lebanon, Syria, Iraq, Libya, and Yemen, along with skyrocketing poverty, is impacting the MEA region. Due to curtailment of wheat exports from two main producers in the world (especially wheat from Russia and Ukraine), many countries across the MEA are already facing major food crisis.” The research also showed that global risk rose from 44 and 44.9 out of 100 in the second and third quarter of 2022, respectively.

  • China, Saudi, and the Future of Cross-Regional Investments

    Al-Falih also explained that Saudi Arabia and China have experienced growing cooperation over the past years, as mutual visits between the countries are becoming more frequent and mutual trade is at an all time high. Dissected in The Indian Express, “China is Saudi Arabia’s largest trading partner, with bilateral trade worth $87.3 billion in 2021. Chinese exports to Saudi Arabia reached $30.3 billion, while China’s imports from the kingdom totalled $57 billion.