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  • Saudi Arabia eyes $30bln in mining investment by 2025

    Saudi Arabia aims to attract nearly 115 billion Saudi riyals ($30 billion) in investment into its mining industry by 2025 within its Vision 2030 economic diversification plan, which targets a bigger private sector role, a local newspaper said on Tuesday. Al-Madina quoted Industry and Mineral Resources Ministry Undersecretary Saleh Al-Okaili as saying the Ministry would issue mining licenses in three sectors covering surveying, exploration and production.

  • Saudi Ports Authority unveils investment opportunities to develop, operate multi-purpose terminals

    Saudi Ports Authority (MAWANI) has announced investment opportunities for the private sector to develop and operate multi-purpose terminals in eight Saudi ports. The move is being carried out by MAWANI’s supervisory committee for privatization in the transport sector and in cooperation with the Ministry of Transport and Logistic Services (MOTLS) and the National Center for Privatization & PPP (NCP).

  • PIF’s Sanabil Investments increases share capital by 50% to $8bn

    The Saudi Arabian Investment Company (Sanabil Investments) on Wednesday announced that its parent company, the Public Investment Fund, had approved increasing its share capital by 50 percent to SR30 billion ($8 billion). The Saudi Cabinet approved the establishment of Sanabil Investments in 2008. A closed joint-stock company, it originally had a paid-up capital of SR20 billion.

  • Citi’s corporate and investment banking revenue from Saudi nearly tripled-exec

    Citigroup's corporate and investment banking revenue for its Saudi Arabia business has "nearly tripled" since returning to the kingdom in 2018, a senior executive said on Thursday. Citi obtained a capital markets licence in 2017, allowing it to return to the kingdom in 2018 after a 13-year absence. It has advised Saudi Aramco on its $29.4 billion listing in 2019, in what was the world's biggest initial public offering, as well as on several sovereign and corporate bond deals.

  • Saudi Arabia’s Future Investment Initiative conference to be held in October

    Saudi Arabia's Future Investment Initiative Institute will gather policymakers, leaders and experts from across the world in October to assess the best ways to chart a recovery after the pandemic and to create new investment opportunities in different sectors. The fifth Future Investment Initiative will be held in the kingdom's capital, Riyadh, from October 26 to October 28 under the theme "Invest in Humanity", the FII Institute said on Monday.

  • SAGO receives first vessel of wheat produced by Saudi investment abroad

    The Saudi Grains Organization (SAGO) has announced that it has received at King Abdulaziz Port in Dammam the first vessel of wheat weighing 60,000 tons of Australian origin. This amount represents the first batch of imported wheat produced by the Saudi Agricultural and Livestock Investment Company (SALIC) and falls within the contracted amount of 355,000 tons.

  • Wa’ed boosts investment in digital mapping startup in Saudi Arabia

    Wa’ed, the entrepreneurship arm of Saudi Aramco, has boosted its investment in a digital mapping and indoor navigation startup in a bid to help it expand globally. Alkhobar-based NearMotion provides mobile navigation tools for airports, hospitals, shopping malls, museums, theme parks and event stadiums, allowing users to get real-time information and services. This will be Wa’ed’s second investment in the company, having previously backed it in 2016.

  • ‘Exceptional returns’ of Mena equity markets support case for more investment, Franklin Templeton says

    Equity markets in the Mena region have delivered “exceptional” returns despite Covid-19 headwinds and are set to cement their gains, supported by an economic recovery that is well under way, according to global investment manager Franklin Templeton. Although last year was challenging, the global investment manager expects a strong recovery in corporate earnings in Mena markets this year.

  • Saudi Wealth Fund Leads Investment in Gulf Infrastructure Fund

    Aberdeen and Investcorp announced the fund two years ago with a view to channel investment into the Middle East’s health care, education and utilities industries. Former U.K. Defense Secretary Michael Fallon was appointed chairman of the fund last month.

  • Saudi’s PIF creates Middle East, North Africa investments division

    The Riyadh-based sovereign wealth fund appointed Yazeed Alhumied to the newly created role of head of MENA investments. He had been head of the local holdings investment division since December, responsible for two investment pools and driving international investment in Saudi Arabia.