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  • Saudi Arabia amends rules to attract foreign investment in property

    Saudi Arabia is amending the laws to attract more foreign investments to its property sector, as the country’s economy continues to rebound and attract more workers from abroad, local media reports said. The proposed amendment to rules governing foreign ownership of real estate will also increase competition in the sector, Asharq Al Awsat newspaper reported.

  • Record investment in Africa despite coronavirus recession

    Last year, private investment in Africa hit a record high of $7.4bn, representing a 118% jump from 2020, an annual report from the industry’s African Private Equity and Venture Capital Association (AVCA) found.

  • Saudi Cabinet approves agreement on investments by PIF in Egypt – state media

    The Saudi Cabinet approved an agreement signed with Egypt on investments by the kingdom's Public Investments Fund in Egypt. The two Arab counties signed an agreement on March 30 to support and encourage investments in Egypt by the Saudi sovereign wealth fund.

  • Foreign investment in Saudi Arabia’s Tadawul surges to $93bn

    Ownership of non-institutional foreign investors, including swap holders, residents, and qualified foreign investors, increased to 10.03 percent, compared to 9.87 percent a week earlier, according to Argaam statistics. At a regional level, Gulf Cooperation Council ownership in the Saudi market went up to 1.8 percent during the week, representing SR62.3 billion.

  • Bank Of America Loses Saudi Investment Bank Head to EFG Hermes

    EFG Hermes hired Saud Altassan, who was the head of investment banking for Bank of America in Saudi Arabia, as its new chief executive officer in the country, as banks look to cash in on a boom in deals. Altassan joined Bank of America in 2019. Before that, he served as chief executive officer of Swicorp, a financial services group specializing in private equity, asset management and investment banking in the Middle East and North Africa. He also worked at NCB Capital and Banque Saudi Fransi, according to a statement from EFG Hermes.

  • Before Giving Billions to Jared Kushner, Saudi Investment Fund Had Big Doubts

    Those objections included: “the inexperience of the Affinity Fund management”; the possibility that the kingdom would be responsible for “the bulk of the investment and risk”; due diligence on the fledgling firm’s operations that found them “unsatisfactory in all aspects”; a proposed asset management fee that “seems excessive”; and “public relations risks” from Mr. Kushner’s prior role as a senior adviser to his father-in-law, former President Donald J. Trump, according to minutes of the panel’s meeting last June 30.

  • Saudi Arabia’s hydrogen strategy targets $36bln of investments by 2030

    He said Saudi Arabia is open to engaging with all IRENA member countries for hydrogen synergies, with engagements already underway with some European Union countries. Dowsary said the Kingdom enjoys huge advantages in hydrogen production due to the low levelised cost of renewable electricity and could become a major exporter in the future while noting that key challenges include driving down production costs and transport of hydrogen.

  • New Investment Law to treat Saudi and foreign investors equally

    The Ministry of Investment is drafting a new Investment Law under which the local and foreign investors will be treated equally. The ministry is currently completing studies with regard to various provisions of the draft law, which will come into force after the necessary approval from the higher authorities in the near future, Okaz/Saudi Gazette has learnt from well-informed sources.

  • Qatari investment marks new chapter in ties with Egypt

    Qatar has agreed to invest 5B USD in Egypt in a sign that bilateral ties have greatly improved over the past year. Meanwhile, Saudi Arabia and the UAE have also announced separate new investment packages to help offset Egypt’s financial struggles. The change follows the Jan. 2021 end to the nearly four-year diplomatic rift between Qatar and the Arab Quartet—consisting of Bahrain, Egypt, Saudi Arabia, and the United Arab Emirates (UAE).

  • Saudi Arabia’s start-up sector to see $162m in new investments

    Saudi Arabia issued licences to six start-up entities that have collectively pledged to invest up to $162.2 million. Four start-ups, including re-commerce platform Cartlow, second-hand marketplace Soum, delivery company Rabbitmart and dental service Smileneo received licences from Saudi Arabia’s Ministry of Investment. Licences were also granted to imVentures, a Riyadh-based venture capital fund, and Silicon Valley-based early stage accelerator Plug and Play.