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  • Foreign, joint investments in Saudi industrial sector surpass $144.53bln

    Foreign and joint investments in the industrial sector have totaled more than 542 billion Saudi Riyals, constituting 37 percent of the sector’s total investments, the Ministry of Industry and Mineral Resources noted. The foreign and joint investments in the industrial sector also represent 17 percent of the total number of existing factories until May 2023, the ministry added. The number of factories with foreign investment in the Kingdom has amounted to 930, representing 9 percent of the total number of factories, with investments surpassing 71 billion Saudi Riyals.

  • Saudi Arabia Doubles-Down on Investment in Electronic Arts

    Saudi Arabia’s sovereign wealth fund has increased its stake in Electronic Arts, building upon its massive $38 billion already invested in the video game industry. The Kingdom’s Public Investment Fund has increased its shares in Electronic Arts by 55%, going from owning 16.01 million shares to now 24.81 million shares, according to a financial filing observed by Seeking Alpha. EA’s sports titles include Madden NFL, EA Sports PGA Tour, NHL, F1, and FIFA—though future installments of the popular soccer series will be branded as EA Sports FC after EA and FIFA failed to agree to a new licensing agreement.

  • Saudi Arabia Doubles-Down on Investment in Electronic Arts

    Saudi Arabia’s sovereign wealth fund has increased its stake in Electronic Arts, building upon its massive $38 billion already invested in the video game industry. The Kingdom’s Public Investment Fund has increased its shares in Electronic Arts by 55%, going from owning 16.01 million shares to now 24.81 million shares, according to a financial filing observed by Seeking Alpha. EA’s sports titles include Madden NFL, EA Sports PGA Tour, NHL, F1, and FIFA—though future installments of the popular soccer series will be branded as EA Sports FC after EA and FIFA failed to agree to a new licensing agreement.

  • Saudi Red Sea tourism developer considers IPO or investment trust

    Saudi Arabia's Red Sea tourism megaproject developer is considering a potential initial public offering or a real estate investment trust as part of its future growth plans, set against the backdrop of the kingdom's efforts to develop non-oil sectors. Red Sea Global is currently in “very early stage” discussions with banks and stakeholders, the company's chief executive John Pagano told The National in an interview on Wednesday. “Nothing is off the table. We are looking at all different options, amongst which would be an IPO, which is a normal evolution of a company like ours,” he said.

  • Private investment playing an increasing role in Saudi Arabia’s AlUla, tourism chief says

    Private investment constitutes up to a quarter of AlUla’s total spending as the Saudi tourism destination moves ahead with development plans, a senior executive at the Royal Commission for AlUla has said. “Out of the overall budget, probably 20 to 25 per cent is private [investment],” Phillip Jones, chief tourism officer, told The National an interview, without revealing specific figures. “More and more of the businesses that are opening across the destination are opening on their own. They're not asking for financial support."

  • Saudi Public Investment Fund ranks 5th with worth $620bn

    The ranking of Saudi Arabia’s Public Investment Fund (PIF) has improved from sixth to fifth place among the largest sovereign funds in the world for the first time, with assets valued at SR2.3 trillion ($620 billion). The fund’s share of the world’s sovereign wealth has increased to 6.2%, up from 5.9%, according to Arab News. Since the launch of Saudi Vision 2030 in 2016, PIF’s assets have increased in value by 308% They amounted to $152 billion at the end of 2015, it added.

  • Saudi Public Investment Fund ranks 5th with worth $620bn

    The ranking of Saudi Arabia’s Public Investment Fund (PIF) has improved from sixth to fifth place among the largest sovereign funds in the world for the first time, with assets valued at SR2.3 trillion ($620 billion). The fund’s share of the world’s sovereign wealth has increased to 6.2%, up from 5.9%, according to Arab News. Since the launch of Saudi Vision 2030 in 2016, PIF’s assets have increased in value by 308% They amounted to $152 billion at the end of 2015, it added.

  • 11 Climate Tech Investments Where VC Funding Is Ramping Up

    For early-stage investors, solar panels and electric vehicles are so 2011. By now these are relatively mature products built on the work of previous decades. They’re doing the job they were built for: gradually replacing fossil fuels. In fact, solar and wind are cheaper than coal in most of the world today. That means market forces will turn power grids a deeper shade of green with each passing year, and VCs can focus on electrifying everything else.

  • 11 Climate Tech Investments Where VC Funding Is Ramping Up

    The overwhelming majority of finance that finds its way into climate tech still goes into transport and energy startups. But looking at the deal count, it’s easy to pick out the pattern of rising interest in climate-tech startups that focus on green buildings, climate analytics, carbon capture and more.

  • IMF: Private Sector Investments Will Drive Saudi Economic Growth

    Saudi Arabia’s budget will achieve more financial revenues following a production cut announced by the Kingdom with OPEC and its allies, according to the International Monetary Fund (IMF), thanks to higher crude prices. “The impact on the budget and on the external position relative to what we had projected is positive,” Amine Mati, the IMF mission chief to Saudi Arabia, said in an interview in Washington, as reported by Bloomberg.