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  • Saudi Arabia High Tech Investment $200 million Fund Launched

    Crown Prince Mohammed bin Salman unveiled a new strategy for King Abdullah University of Science & Technology (KAUST), where he chairs the Board of Trustees. The new strategy aims to transform science and research into economically profitable innovations through a focus on national priorities, including health, environmental sustainability, renewable energy, and future economies. The strategy encompasses three major initiatives:

  • Philippines says over $4.26 billion investment deals agreed with Saudi business leaders

    A Philippine business delegation has signed investment deals collectively worth more than $4.26 billion with Saudi business leaders, the office of President Ferdinand Marcos Jr said. The agreements were signed on Thursday on the sidelines of a summit of Southeast Asian and Gulf nations in Saudi Arabia, attended by Marcos, it said in a statement. The Gulf state is a major destination for overseas Filipino workers, with more than a million employed in construction or as domestic helpers or nurses.

  • Deal between PGA and DP World Tours and Saudi Arabia’s Public Investment Fund ‘not workable’

    "I think all parties want it done," DP World Tour player Eddie Pepperell said on the Chipping Forecast podcast - available on BBC Sounds - when discussing the framework agreement. "But ultimately it is not really workable. "It comes back to the number one issue that we've had all along, and that is the time constraints on people, especially with the emergence of the TGL."

  • Saudi military authority unveils 10 investment opportunities in defense sector

    In a major move to boost Saudi Arabia’s defense sector, the Kingdom’s General Authority for Military Industries has unveiled a series of investment opportunities in the military industries sector. GAMI’s strategic expansion includes an initial offering of 10 investment prospects with applications in both military and civilian domains. The announcement was jointly made by GAMI and the Invest in Saudi Arabia initiative, in collaboration with the Kingdom’s Ministry of Investment, as reported by the Saudi Press Agency.

  • Saudi Arabia’s $267M Investment in Intellectual Property Strategy

    One of the significant aspects of the Intellectual Property Strategy is likely to be the development of a comprehensive intellectual property framework. This framework would provide legal protection and incentives for innovation. Establishing clear and robust IP laws and regulations is essential to protect the rights of creators and inventors, encouraging investment in research and development. It also offers a conducive environment for entrepreneurs and innovators to flourish, knowing that their intellectual property will be safeguarded.

  • PIF announces new investment company to boost Saudi car industry

    Tasaru Mobility Investments will drive investments and partnerships with local and global private sector companies, according to a statement from PIF. It aims to support sector growth and deliver long-term returns by localizing manufacturing expertise and technologies to accelerate the development of Saudi Arabia’s electric vehicle and autonomous mobility ecosystem.

  • OPEC optimistic on demand, calls for more oil and gas investment

    OPEC is optimistic on demand and sees under-investment as a risk to energy security, Secretary General Haitham Al Ghais said on Monday at an energy industry event in Abu Dhabi. He stressed the importance of continued investment in the oil and gas industry and said he sees calls to stop investing in oil as counterproductive. "We still see oil demand as quite resilient this year, as it was last year," Al Ghais said, noting the group's forecast was for year-on-year demand growth of more than 2.3 million barrels per day (bpd).

  • Saudi investment firm Osool & Bakheet to proceed with IPO

    Saudi Arabia’s Osool & Bakheet Investment Company (OBIC) will proceed with its IPO and list its shares on Nomu, the parallel market of the Saudi Stock Exchange (Tadawul). The company will offer 1.6 million ordinary shares, representing 25% stake. The total offered shares will represent 18.5% of the capital after the IPO and planned capital increase, according to a bourse filing on Monday. The share offering will run from October 15 to October 19. Pricing for the IPO will be announced prior to October 15.

  • Saudi firms make headlines in global VC with Mighty Buildings investment

    Saudi firms have taken the venture ecosystem by storm with startup activity dominating activity in recent weeks. Saudi Aramco’s $500 million venture capital subsidiary Wa’ed Venture made global headlines as it co-led a $52 million series B funding round in US-based construction technology startup Mighty Buildings. Founded in 2017, Mighty Buildings is recognized for its work in 3D printing technology to create prefabricated homes that are both environmentally friendly and climate resilient.

  • Alibaba Unveils $2 Billion Turkey Investment in Erdogan Meeting

    Alibaba Group Holding Ltd. announced plans to invest $2 billion in Turkey after a meeting with President Recep Tayyip Erdogan. The head of the Chinese giant, Michael Evans, made the announcement after the meeting in Istanbul on Friday, according to a statement from its Turkish unit Trendyol. He indicated that the company has “confidence in Turkey’s sound economic fundamentals” and has already invested $1.4 billion in the country through Trendyol, Turkey’s biggest e-commerce marketplace.