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  • Business Leaders Wary of Increasingly Geopoliticized Global Economy

    Executives were asked to identify the risks they considered the biggest threats to their country over the next two years. The responses from more than 12,500 executives across 122 economies reflect a clear unease about economic headwinds against a backdrop of aggravated geopolitical tensions.

  • 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.”

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

    The company’s new offices in Riyadh will support Amazon’s commitment to bringing world-class e-commerce and logistics expertise to Saudi Arabia, delighting customers, empowering independent sellers, and nurturing an environment for the Kingdom’s talent to learn new skills. Ronaldo Mouchawar, Vice President of Amazon Middle East and North Africa (MENA), shed light on Amazon’s ongoing expansion and investment in Saudi Arabia’s growing digital economy to support the Kingdom’s social and economic progress in line with Saudi Vision 2030.

  • PIF, Mitsui Said to Eye Stake in Vale’s Base Metals Business

    Saudi Arabia’s Public Investment Fund and Japanese trading house Mitsui & Co. are considering bids for a minority stake in Vale SA’s nickel and copper operations, people with knowledge of the matter said. Canada Pension Plan Investment Board, Ontario Teachers’ Pension Plan Board, Mubadala Investment Co. and Qatar Investment Authority are also weighing offers for a stake in the base metal unit, according to the people. Vale is seeking to raise more than $2 billion from the deal, the people said, asking not to be identified because the information is private.

  • Israeli Business in Saudi Arabia Emerges From Shadows at Investment Conference

    On Thursday, the final day of the conference, the chairman of one of Israel’s top banks said he would like to invest in Saudi Arabia’s fintech industry. “The opportunities are amazing,” Bank Leumi’s Samer Haj-Yehia said on a panel that included the Saudi Export-Import Bank’s chief executive. He said he saw the Saudi economy as “very healthy, unlike other economies around the world, and the prospects for the future are very positive.

  • TotalEnergies, Shell post bumper profits, LNG business diverges

    Europe's two largest energy companies Shell (SHEL.L) and TotalEnergies (TTEF.PA) reported profits of more than $9 billion in the third quarter, though Shell's liquefied natural gas (LNG) division struggled to capture the benefits of high fuel prices. The strong earnings were likely to intensify calls in Britain and the European Union for further windfall taxes on energy companies to help households cope with gas and power bills.

  • ‘Davos in the Desert’ lures American business leaders despite political concerns

    "American companies will make their own decisions about their presence and where to invest, taking into account a range of factors including legal constraints, the business environment, and reputational concerns that can arise from public policy choices made by host countries," said Karine Jean-Pierre, the White House press secretary.

  • Saudi forum set to draw U.S. business leaders despite tensions

    More than 400 U.S. delegates are expected to attend this week, Richard Attias, CEO of the FII Institute, told Reuters, adding this was the largest representation of a foreign country. This year's edition, running Oct. 25-27, includes JPMorgan boss Jamie Dimon, Pimco Vice Chairman John Studzinski and a BNY Mellon executive as speakers, and they still plan to go, spokespeople for the companies told Reuters.

  • Saudi Arabia’s Alsulaiman Group weighs IPO of IKEA business – sources

    Saudi Arabia's Alsulaiman Group is weighing an initial public offering of its IKEA business franchise next year and has hired Moelis & Co (MC.N) as an adviser, two sources told Reuters. The company plans to invite investment banks early next year to pitch for roles in a possible public share-sale, said the sources, who declined to be identified as the matter is not public. Deliberations are at an early stage and it was not immediately clear how much the company is seeking to float or raise from a deal, the sources said.

  • Back in business, Saudi’s film scene is set to take off

    By 2030, the General Commission for Audiovisual Media (GCAM) – a governing authority regulating and operating cinemas – expects there will be around 350 cinemas and 2,500 movie screens in the country. To reach this goal, the Kingdom has to open at least 32 new cinemas every year.