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  • Saudi Arabia offering $6tn of investment opportunities in travel and tourism: Minister

    “We built our tourism industry against the backdrop of a global disaster (COVID-19 pandemic). And we now have $6 trillion of investment opportunities through 2030,” said Al-Khateeb. He added: “We value collaboration, we have proved that it will work. Our shared commitment to partnerships will drive the global industry forward. Saudi Arabia is reimagining tourism, making use of the power of partnership and ensuring that no one is left behind.”

  • South Korea’s Kakao Stock Price Jumps after Saudi Investment Talks

    Shares of Kakao Group got a much-needed boost following reports that Saudi Arabia’s wealth fund is planning a large-scale investment in the South Korean internet giant’s entertainment unit. The Public Investment Fund is in talks with Singapore’s GIC Pte Ltd. to jointly fund up to 800 billion won ($591 million) ahead of Kakao Entertainment Corp.’s initial public offering due next year, Maeil Business Newspaper reported Tuesday evening, citing unidentified people in the banking industry.

  • Saudi Aramco signs multiple deals worth $11 billion in investment push

    With 51 domestic and international manufacturers, Saudi Aramco, one of the largest energy producers in the world, has signed 59 corporate procurement agreements as part of its ‘In Kingdom Total Value Add’ program (iktva). These $11 billion work agreements—signed with companies like Baker Hughes, Cameron Al Rushaid, Halliburton, SLB, and TechnipFMC—can create 5,000 new jobs in the kingdom.

  • Saudi Aramco signs multiple deals worth $11 billion in investment push

    With 51 domestic and international manufacturers, Saudi Aramco, one of the largest energy producers in the world, has signed 59 corporate procurement agreements as part of its ‘In Kingdom Total Value Add’ program (iktva). These $11 billion work agreements—signed with companies like Baker Hughes, Cameron Al Rushaid, Halliburton, SLB, and TechnipFMC—can create 5,000 new jobs in the kingdom.

  • Oracle plans significant investment in Middle East as cloud competition intensifies

    “Cloud adoption rate [in Middle East and Africa] is extremely high … it is driven by government directions, strong emphasis on data sovereignty and support towards digitisation. Data sovereignty is a level of concern everywhere, but in the Middle East, it’s a very high-priority issue,” said Mr Smith, who did not disclose the scale of Oracle's investment in the region.

  • Here Are 3 Green Investment Initiatives Launched By Billionaires In 2022

    Billionaires such as Bill Gates, Mackenzie Scott, and Warren Buffet are well known for their philanthropic and environmental initiatives, but they are not the only ultra-rich people supporting the climate change cause. Here are three green impact investment initiatives announced by billionaires in 2022.

  • Saudi Arabia calls for greater investments in Türkiye as ties mend

    In a meeting chaired by King Salman on Tuesday, the Cabinet mandated Investment Minister Khalid al-Falih to conduct talks with the Turkish side on the issue. According to the state-run Saudi Press Agency (SPA), the minister was mandated to discuss a proposal for a memorandum of understanding for cooperation on encouraging direct investments.

  • Saudi Arabia Working With New York-based investment bank Lazard to Fund NEOM

    Saudi Arabia is working with Lazard Ltd. as it considers how it will pay for Neom, Crown Prince Mohammed bin Salman’s ambitious $500 billion plan for a high-tech desert city, people familiar with the matter said. The New York-based investment bank is helping the kingdom evaluate financing options, including debt sales and a potential initial public offering on the Saudi stock exchange, according to the people. Deliberations are in the early stages and no firm decisions about the size or structure of any financing have been taken, the people said, asking not to be identified discussing confidential information. A spokesperson for Lazard declined to comment, while a representative for Neom didn’t respond to request for comment.

  • Alarm on Capitol Hill over Saudi investment in Twitter

    The prince – who together with his investment firm has emerged as the second-largest investor in Twitter after Elon Musk’s takeover of the social media platform – became a prisoner. According to his own account, the prince was holed up in Room 628 of the Ritz Carlton in Riyadh for 83 days. At the time, the round-up of Saudi royals and other businessmen was hailed inside Saudi Arabia as an anti-corruption purge led by the kingdom’s Crown Prince Mohammed bin Salman, who is also Alwaleed’s cousin.

  • Amazon.sa’s Investments in Saudi Arabia will Continue to Expand Across Several Businesses

    Mouchawar said: “Our new offices at the Riyadh Front Tower are equipped to accommodate more than 350 employees, paving the way for local talents to join the team across various areas of the business from retail, Amazon Payment Services, Alexa and devices, to Amazon Advertising, and more, increasing innovation and solutions for our customers. Together, we will continue to build an integrated system that provides the best level of service to our customers in Saudi.”