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  • PIF Creates Saudi-Egyptian Investment Company

    The Public Investment Fund (PIF) of Saudi Arabia launched the Saudi-Egyptian Investment Company (SEIC). The Saudi-Egyptian Investment Company will target investments in Egypt in areas such as infrastructure, real estate development, healthcare, financial services, food and agriculture, manufacturing, and pharmaceutical, along with other investment opportunities. “In light of the economic growth in the region, SEIC will capitalize on lucrative investment opportunities within a number of promising Egyptian economic sectors, which will also support the expansion efforts of Saudi businesses and other PIF portfolio companies,” Deputy Governor and Head of MENA Investments at PIF Yazeed Alhumied said.

  • SoftBank Reports $23 Billion Loss as Tech Investments Plummet

    The Japanese conglomerate SoftBank reported on Monday its largest-ever quarterly loss, $23.4 billion, driven by poor performance of its flagship tech investments and a weak yen. It was the second straight quarter of enormous losses for the company, which has been staggered by broad weakness in global stocks, causing paper losses in the company’s portfolio of publicly traded tech giants as well as markdowns on its holdings in hundreds of unlisted companies.

  • Aramco expands Namaat industrial investment programs

    The Saudi Arabian Oil Company (“Aramco” or “the Company”) today announced a major expansion of its Namaat industrial investment programs, with 55 agreements and Memoranda of Understanding (MoUs) across the sustainability, digital, industrial, manufacturing and social innovation sectors.

  • Foreign or joint capital makes up 39% of Saudi industrial investments

    As for the factories with foreign investment in Saudi Arabia, the ministry stated that their number reached 839 factories by the end of May 2022, representing approximately 8 percent of the total number of factories, with investments estimated at more than SR65 billion. The number of joint venture factories in Saudi Arabia reached about 787 factories, which constitute 7 percent of the total factories, with investments estimated at more than SR464 billion.

  • Foreign or joint capital makes up 39% of Saudi industrial investments

    The Saudi Ministry of Industry and Mineral Resources has revealed on Sunday that foreign or joint capital investments represent about 39 percent of the total investments in the industrial sector in the Kingdom. It also revealed that the total number of existing and under construction factories until the end of last May reached 15 percent. The ministry said that these percentages confirm Saudi Arabia's ability to attract quality investments in various economic activities.

  • Manchin’s clean energy deal is a reset for ESG investment

    The package to secure jobs and the planet won US senator Joe Manchin’s support with provisions to shore up fossil fuels, including offshore leasing for oil and gas, and targeting wind and solar plants in areas where coal mines are closing. The legislation, which pumps hundreds of billions of dollars into low- and no-carbon technology, sends a clear message: Energy-intensive states like West Virginia have a lot more to gain than to lose if they lean into American competitiveness and economic security at home and help catalyze the new industrial revolution.

  • Saudi Arabia’s NEOM project to bring huge investments to Egypt

    Analysts and political and economic experts who spoke to Al-Monitor believe Mohammed's announcement of Saudi investments in Egypt within the framework of the NEOM project consecrated the political and strategic rapprochement between Cairo and Riyadh. The two countries have been preparing for this project for a few years, and bilateral agreements in this respect have already been signed, with high hopes that revived tourism in Saudi Arabia would boost tourism in Egypt’s Sharm el-Sheikh and Hurghada.

  • ESG investments gain momentum in Middle East

    Investments adhering to environmental, social and governance (ESG) criteria are capturing increasing interest in the Middle East. A 2020 survey carried out by multinational bank HSBC revealed that 41% of regional investors wished to adopt an effective ESG investment policy. A May 2022 PWC report confirmed this trend, adding that Middle Eastern companies' top three sustainability priorities are diversity and equality, climate change and safety.

  • Saudi Arabia sets up investment promotion agency

    Saudi Arabia has set up an agency to promote investment in the country, a key goal of an ambitious economic reform agenda, the investment minister and state media said on Twitter, citing a cabinet decision. The Saudi Investment Promotion Authority "will be a strong supporter of the investment system in its quest to achieve the objectives of the #national_investment_strategy by attracting and developing national and foreign investments," Investment Minister Khalid al-Falih wrote in Arabic on Twitter.

  • Investment in MENA start-up Homzmart rises to $40 mln after latest round

    Furniture and home goods e-commerce platform Homzmart has closed one of the past year's biggest funding rounds for a Middle Eastern and North Africa start-up, raising $23 million, its chief executive said. The company, launched in 2020, will use the new funding to expand services, especially logistics, and fill gaps that appear in supply chains, co-founder and CEO Mahmoud Ibrahim said in an interview with Reuters.