SUSTG.com / Research

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

Recent stories from sustg

  • PIF Acquires Stake in Jasara Program Management Co., Agrees to $10b Loan Terms
     

    Saudi Arabia’s Public Investment Fund (PIF) has acquired a 40% stake in Jasara Program Management Co., a joint venture between Saudi Aramco and Jacobs Engineering Group, three people familiar with the matter told Bloomberg. The PIF acquired 30% of Jasara Program Management Co. from Saudi Aramco and 10% of the joint venture from Jacobs, one of the people told Bloomberg, […]

     
  • Saudi Arabia’s PIF has agreed initial terms for a $10bn loan – report
     

    Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has agreed to initial terms for a $10 billion loan, the second time the fund has sought to raise money in less than a year, the Financial Times reports. Bank of America Merrill Lynch, BNP Paribas, Crédit Agricole and Citigroup are among the 10 banks that have […]

     
  • Jadwa Investment Sees Non-Oil Sector Growth in Saudi Arabia at 2.4% in 2019
     

    A recent report issued by Jadwa Investment shows expected growth in the non-oil sector at 2.4 percent in 2019, compared to 1.7 percent in 2018, and forecasted 2020 non-oil sector growth at 2.7 percent. “Our economic forecast for the Kingdom has been revised down wholly on the account of developments related to the oil market…On the non-oil side, however, we see […]

     
  • Dates Set for Saudi Arabia’s Future Investment Initiative 2019
     

    Saudi Arabia’s Future Investment Initiative (FII) will take place from 29-31 October in Riyadh, the event’s official Twitter page said in an announcement. Dubbed “Davos in the Desert,” the FII brings together world leaders, investors and innovators will explore the opportunities, trends, and challenges shaping the global investment landscape. Attendees will gather to “continue to discuss the […]

     
  • Saudi Arabia Raises €3b in first bond denominated in European currency
     

    Saudi Arabia has raised 3 billion euros from over 14.5 billion worth of orders for its first bond denominated in European currency, according to reports. With this deal, the Saudis have sold over $60 billion in international bonds since their debut as a global borrower in late 2016, making the kingdom one of the biggest […]

     
  • Saudi Foreign Reserves Continue Climb, Non-oil PMI Index at Highest Since December 2017
     

    The recently-released Jadwa Investment report on the Saudi economy found a positive picture developing for the Kingdom, with economic data positive in May with the non-oil PMI index reaching its highest reading since December 2017. The Kingdom also continued adding to its foreign reserves accounts. SAMA FX reserves rose by $12 billion month-on-month to stand at $517 […]

     
  • Declines in Saudi unemployment continue as more women join workforce, report says
     

    A recently-released Jadwa Investment report on the Saudi labor market highlights gains made in edging down the Saudi unemployment rate, especially for women and youth in the Kingdom. According to Jadwa, The latest General Authority for Statistics (GaStat) labor market release for Q1 2019 shows that unemployment declined to 12.5 percent, reaching its lowest rate since […]

     
  • Report Looks at Surging Role of Sovereign Wealth Funds in GCC Economies
     

    A recently-released joint publication from the Sovereign Wealth Fund Institute (SWFI) and Marmore Mena Intelligence examines the growing role of sovereign wealth funds (SWFs) in GCC economics. Sovereign wealth funds, like the Saudi Arabia Public Investment Fund (PIF), are growing in importance in GCC economies as they press ahead with economic diversification efforts and reduce their […]

     
  • Saudi Arabia’s PIF has ‘$300b in Assets’ and is Still Growing, Report Says
     

    Saudi Arabia’s sovereign wealth fund, the Saudi Arabian Public Investment Fund (PIF), has “about $300 billion in assets” now, a report has found, and its growing size is set to “improve the country’s international investment position.” “We now estimate PIF’s assets at about $300 billion, of which one-fourth are invested abroad….Proceeds from privatization (a target of about […]

     
  • UK Petrochemical Company INEOS will Invest $2bn to Build Three Plants in Saudi Arabia
     

    INEOS, one of the world’s largest chemical producers and oil and gas companies, is a privately owned company based in London. “On top of a combined $4bn investment recently announced in the UK and Europe, this is part of a wider Group strategy of globalisation that will stimulate growth and jobs worldwide,” the company said on Twitter. […]

     

MUST-READS

  • ‘Ignite’ to uplift Saudi digital content creation and media production with US$1.1 billion of investments

    Saudi Arabia today announced Ignite, a new program for digital content creation and production; new investments and support for next generation connectivity and communications infrastructure; and a new partnership that will see Trend Micro open its regional headquarters in Riyadh. The latest round of announcements was made on day two of LEAP22, the global technology platform taking place in Riyadh.

  • Saudi Arabia announces $6.4 billion investments in future tech

    Saudi Arabia has launched investments worth $6.4 billion in future technologies, the Saudi minister of communication and information technology said on Tuesday, as the kingdom races to diversify its economy from oil in the face of fierce regional competition. Wealthy Gulf countries have launched initiatives to boost non-oil growth and reduce dependence on crude oil as climate change campaigners and volatility in oil prices have put pressure on government finances.

  • Saudi Billionaire’s Investment Firm Plans IPO of Top Drugstore

    Al Nahdi Medical Co. has appointed the local unit of HSBC Holdings Plc and the investment banking arm of Saudi National Bank to manage the sale of a 30% stake on the Saudi stock market, the people said, asking not to be identified because the information is private. The company is considering seeking a valuation of around 16 billion riyals ($4.3 billion) in the IPO, the people said.

  • Saudi Billionaire’s Investment Firm Plans IPO of Top Drugstore

    Al Nahdi Medical Co. has appointed the local unit of HSBC Holdings Plc and the investment banking arm of Saudi National Bank to manage the sale of a 30% stake on the Saudi stock market, the people said, asking not to be identified because the information is private. The company is considering seeking a valuation of around 16 billion riyals ($4.3 billion) in the IPO, the people said.

  • Saudi Arabia announces $6.4 billion investments in future tech

    Saudi Arabia has launched investments worth $6.4 billion in future technologies, the Saudi minister of communication and information technology said on Tuesday, as the kingdom races to diversify its economy from oil in the face of fierce regional competition. Wealthy Gulf countries have launched initiatives to boost non-oil growth and reduce dependence on crude oil as climate change campaigners and volatility in oil prices have put pressure on government finances.

  • Egypt signs 2 new agreements for oil exploration, production with $506M investments

    Minister of Petroleum and Mineral Resources, Tarek El Molla, signed two new agreements with the Canadian Transglobe and Pharos Energy companies to search for, develop and produce petroleum in several regions in the eastern and western deserts.

  • Rolls-Royce heads to Middle East as Saudi Arabia plots £74bn nuclear investment

    The British engineering firm’s small nuclear reactors (known as SMRs) are about the size of two football pitches. But they can power around half a million homes (a city the size of Leeds), are said to be much easier to build than traditional nuclear power plants.

  • ‘Nothing wrong’ with Saudi Asian Tour investment: Casey

    English golfer Paul Casey on Wednesday defended Saudi Arabia's $200 million cash injection to revive the Asian Tour, following criticism of the deal over the oil-rich kingdom's human rights record. Speaking ahead of this week's SMBC Singapore Open, where he finished tied-second in 2019, Casey welcomed the funding from LIV Golf Investments, which is majority-owned by Saudi Arabia's Public Investment Fund.

  • Public Investment Fund Grows, Bets Big on Tech

    The PIF signaled a serious interest in global technology investments with its massive $45 billion commitment to the SoftBank Vision Fund, the world’s largest technology investment fund, in 2018. A more modest $1.3 billion investment in Lucid Motors by the PIF in 2018 was nevertheless worth $41 billion after three years, owing to a successful initial public offering by the electric vehicle maker. The Saudi fund’s strategy for 2021-25 reaffirms the significance of local and international technology firms in its investment portfolio.

  • Saudi Arabia Seeks $170 Billion of Mining Investment By 2030

    Saudi Arabia wants to attract $170 billion of investment in its mining sector by the end of the decade, exploiting rising global demand for metals crucial to the energy transition. “That’s a lot of money,” the Saudi mining minister, Bandar Alkhorayef, said in an interview with Bloomberg Television in Riyadh. Minerals are “becoming more and more essential for the advancement of manufacturing, energy” and industries including automotives. The investment will come from foreign and local firms, including state miner Maaden. It should enable the sector’s contribution to gross domestic product to reach $64 billion annually by 2030, he said, more than four times today’s figure of $17 billion.