SUSTG.com / Research

Discover stories, topics, and more about Saudi Arebia faster.

Recent stories from sustg

MUST-READS

  • SAMA sets regulatory framework to stabilise Saudi investment sector

    The Saudi Central Bank (SAMA) has issued the Implementing Regulations for the Law of Payments and Payment Services to support the objective of enhancing the soundness and efficiency of the payment systems infrastructure in Saudi Arabia. The relevant regulatory and supervisory frameworks will enable it to protect and stabilize the financial sector, said SAMA in its statement. The central bank had earlier published the draft implementing regulations, asking stakeholders and the public to provide views and comments. Relevant views and comments were considered for appropriateness in the final version in alignment with the Law objectives.

  • UAE breaks foreign direct investment record as Saudi Arabia sees 59% dip

    While Saudi Arabia’s foreign direct investment (FDI) inflow fell 59% last year to nearly $7.9 billion, the United Arab Emirates recorded its highest FDI inflow ever of nearly $23 billion in 2022, according to a United Nations report released on Wednesday. Israel and the UAE led the Middle East and North Africa (MENA) for the highest FDI inflow — the purchasing of assets in another country — and placed 15th and 16th globally, respectively, according to the United Nations Conference on Trade and Development's (UNCTAD) 2023 World Investment Report.

  • Gulf Islamic Investments strengthens presence in Saudi Arabia through acquisition of a CMA-licensed financial company

    Gulf Islamic Investments (GII) expanded its operations in Saudi Arabia substantially in 2023 with the acquisition of a full investment licence from the Saudi Capital Market Authority (CMA) and the planned opening of a GII office in Riyadh this year. A leading Shariah-compliant global alternative investment company with over $3.5 billion of assets under management (AUM), GII already has several investments within the kingdom. In May 2022, GII took a majority share in the Al Meswak Medical Group for $600 million. co-partnering the giant Saudi Jadwa Investment management and advisory firm. Al Meswak has the largest chain of dental and dermatology clinics in Saudi Arabia, comprising over 90 facilities in more than 37 Saudi cities, plus the recent acquisition of two dental clinics in Abu Dhabi’s Al Ain region in the UAE.

  • Turkey expects $10 billion in Gulf investments after upcoming Erdogan visit, sources say

    Turkey expects Gulf countries to make direct investments of about $10 billion initially in domestic assets as part of President Tayyip Erdogan's trip to the region in two weeks, according to two senior Turkish officials. Erdogan is scheduled to visit leaders in Saudi Arabia, Qatar and the United Arab Emirates on July 17-19, in part to drum up foreign funding that would boost Turkey's strained economy after his re-election in May. The sources, who spoke on condition of anonymity given the talks are private and deals are not yet finalised, said overall investments of up to $30 billion are expected over a longer period in Turkey's energy, infrastructure and defence sectors.

  • Saudi Aramco exploring investment opportunities in India, CEO says

    Saudi Aramco, the world’s largest oil-exporting company, is looking for investment opportunities in India amid a surge in crude demand in the South Asian country, its president and chief executive has said. In terms of crude imports, both China and India – two large oil-consuming countries – have surpassed pre-pandemic levels, Amin Nasser said during the Opec International Seminar in Vienna on Wednesday.

  • After Marathon Meeting, PGA Tour Players Appear Ready to Work With Saudi Public Investment Fund

    The PGA Tour Policy board met for more than five hours in Dearborn, Mich., Tuesday, and spent more than half of it on its looming partnership with Saudi Arabia’s Public Investment Fund, covering a range of issues from economic to procedural. In the end, it was only one day of a complicated process, but it was an important day, simply because it shows the players, and the public, that after the initial shock and grumbling from players, the Tour is where commissioner Jay Monahan hoped it would be: On the path to a business partnership with PIF.

  • John McEnroe Slams ATP Tour’s Saudi Arabia Investment Talks

    “I wouldn’t encourage it personally, the Saudi thing. I’m not surprised that tennis is being thrown into the mix after what we saw in golf,” McEnroe said Wednesday on a call with reporters. “I don’t think that’s something that we should be pursuing. It’s not in my hands.”

  • Qatari Investment Authority close to buying stake in Wizards, Capitals, Mystics: Sources

    The NBA and NHL are on the precipice of being the first North American professional sports leagues to receive an investment from a sovereign wealth fund. The Qatari Investment Authority, the country’s sovereign wealth fund, is close to buying a stake in Monumental Sports and Entertainment, the parent company of the Washington Wizards, Washington Capitals, and Washington Mystics, sources briefed on the deal told The Athletic.

  • Bahrain’s Mumtalakat extends McLaren group stake in purchase from Saudi Arabia’s Public Investment Fund (PIF) and Ares Management

    Bahrain's state investment fund Mumtalakat said on Thursday it has bought the senior preference shareholder stakes in McLaren Group, as part of a proposed broader restructuring. The move will expand Mumtalakat's majority stake in McLaren, which includes the British supercar maker and McLaren Racing.

  • Saudi Arabia allocates $7.8 bln worth of investments for Expo 2030 – state media

    Saudi Arabia has allocated $7.8 billion worth of investments for Expo 2030, state news agency SPA reported early on Wednesday. "I highlighted the Kingdom’s investment of $7.8 billion in the Expo and the opportunities and enriched experience available to international companies," Saudi investment minister Khalid al-Falih said, as Riyadh made its bid for hosting the coming issue of Expo 2030.