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  • Turkish Steel Giant Eyes $5 Billion Investment in Saudi Arabia

    Turkish steelmaker Tosyali Holding AS plans to invest as much as $5 billion in a steel plant in Saudi Arabia, part of an expansion spree that includes Algeria, Angola, Senegal and Spain. The company recently signed a memorandum of understanding with Saudi Arabia, chairman Fuat Tosyali said on the sidelines of the World Economic Forum in Davos on Tuesday. The comments come two weeks after the firm announced it bought Spain’s Baika Steel Tubular Systems SL for an undisclosed price.

  • Saudis Eye Big Investment to Kick Off Foray Into Semiconductors

    The Public Investment Fund is looking at making a “sizable investment” this year into the semiconductor industry, Saudi Minister of Communications and Information Technology Abdullah Alswaha said in an interview at the World Economic Forum in Davos. “They plan to make an announcement on a particular champion within the space to lead the Saudi efforts,” he said, declining to give further details.

  • Saudis Eye Big Investment to Kick Off Foray Into Semiconductors

    Saudi Arabia’s sovereign wealth fund is planning to make big investments in both the semiconductor and space industries this year as the kingdom accelerates efforts to diversify its economy away from oil.

    The Public Investment Fund is looking at making a “sizable investment” this year into the semiconductor industry, Saudi Minister of Communications and Information Technology Abdullah Alswaha said in an interview at the World Economic Forum in Davos. “They plan to make an announcement on a particular champion within the space to lead the Saudi efforts,” he said, declining to give further details.

  • Nintendo shares hit record high amid expectations of Switch 2 and further Saudi investment

    Nikkei Asia says there's strong speculation "oil money" is set to buy more Japanese video game stocks, given Saudi Arabia's controversial sovereign wealth fund, the Public Investment Fund, bought additional shares in Koei Tecmo Holdings earlier this week. Notably, the Public Investment Fund already upped its stake in Nintendo several times last year, with February 2023 bringing news it now held an 8.26 percent share of the company, making it Nintendo's largest outside investor.

  • A $290 Billion Investment Cements Natural Gas’s Relevance for Decades

    At a time when some see oil demand nearing its peak and coal is likely to face a slow but steady decline, the energy sector is betting hundreds of billions of dollars that the third leading fossil fuel — natural gas — has a place in the world’s energy mix through at least 2050. That lifespan hinges on one last torrent of investment into the massive terminals that liquefy and export super-chilled liquefied natural gas, or LNG, for countries not yet ready or able to make the transition to renewables.

  • Jordanian ambitions, Saudi funds: A look at Saudi investments in Jordan

    In addition to investing billions in the domestic economy, Saudi Arabia’s Public Investment Fund (PIF) has also made smaller and less eye-catching investments in other countries in its neighborhood. These investments can not only foster knowledge exchanges to help diversify the Saudi economy, but they’re also important tools of economic statecraft as Riyadh strengthens its position around the Red Sea and in the Levant. Jordan, strategically located in both these regions, has historically been a major recipient of Saudi aid, but Saudi Arabia’s new leadership has pared down its aid commitments and instead started experimenting with the role of a deep-pocketed investor.

  • Saudi Arabia’s new civil laws aim to boost investment, but caution lingers

    For private equity investor Imad Ghandour changes in Saudi Arabia's laws are prompting a rethink and his firm may buy, for the first time, minority stakes in the kingdom's companies. It is exactly an effect the country's leaders are aiming for as they seek to woo billions of dollars in new capital to wean its economy off fossil fuels. On Dec. 16, the kingdom's first written civil code came into effect, replacing a system where judges would have full discretion in ruling on commercial disputes using Islamic law, sharia, as guidance. That created uncertainty for investors like Ghandour, who until now would only invest in majority stakes in Saudi companies.

  • Saudi Arabia sets record with 2100 new investment licenses in Q3 of 2023

    The Saudi Ministry of Investment has revealed that it issued more than 2100 investment licenses in the third quarter of 2023, with a growth rate of 135.4 percent on an annual basis. This does not include licenses issued as part of the campaign to combat violators of the Anti-Commercial Concealment (tasattur) Law. The ministry said that the growth in the volume of issued licenses reflects the Kingdom’s position as an attractive investment destination that enjoys strong competitive advantages represented by a stable and supportive business environment.

  • Saudi Arabia Speeds up Development of Maritime, Logistics Sector with $4.5b Investments

    The country jumped eight ranks in container handling, reaching the 16th position out of the largest 100 ports worldwide, according to Lloyd’s List. Moreover, the Kingdom climbed 17 ranks to reach the 38th position out of 160 countries in the logistics efficiency index, which is issued by the World Bank. According to the Authority, the Kingdom made significant progress in the Liner Shipping Connectivity Index, achieving the highest regional advancement, according to the UNCTAD report. The index recorded 79.01 points in the fourth quarter of 2023, compared to 77.66 points in the previous quarter.

  • Saudi Arabia tops sovereign wealth spending league with $31.5bn investment spree

    Saudi Arabia’s sovereign wealth fund spent more than any other last year after splashing out $31.5bn (£24.7bn) on investments ranging from a stake in Heathrow to ownership of a US gaming company. The Kingdom’s Public Investment Fund (PIF) has topped an annual ranking of sovereign investment fund spending, compiled by consultancy Global SWF, for the first time. Investment by PIF accounted for just over a quarter of the $123.8bn (£97.2bn) spent in total by all of the world’s sovereign wealth funds in 2023. Saudi spending jumped by a third compared to 2022.