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  • Major Leap for Saudi Economy as Kingdom Set to Introduce Bankruptcy Laws
     

    Saudi Arabia’s cabinet has approved a bankruptcy law that is likely to be a boost to the Kingdom’s efforts to attract investment and provide protection for entrepreneurs, according to reports. King Salman has reportedly endorsed the new law. As Reuters reports, modern bankruptcy legislation does not currently exist in Saudi Arabia, which creates difficulties for struggling companies seeking to restructure […]

     
  • Russian, Chinese Interests ‘Eager’ to Invest in Saudi Aramco IPO as Cooperation Heats Up
     

    The head of the Russian Direct Investment Fund (RDIF) said in Riyadh today there is “significant interest” to invest in the forthcoming Aramco IPO from Russia and from China, according to reports. Several banks and other groups in Russia are interested in investing in shares of Aramco, according to Bloomberg, which reported comments from Kirill Dmitriev, chief […]

     
  • Saudi Economy to See 1.5% Growth in 2018, Jadwa Says
     

    The Saudi Arabian economy will grow by an estimated 1.5 percent in 2018, up from a contraction in 2017 of -0.7 percent, according to a new report from Riyadh-based economic analysts at Jadwa Investment. “The oil sector will see the largest improvement in the year ahead, rising to 1.5 percent in 2018, compared to a decline […]

     
  • JLL Research: 2018 a ‘Year of Implementation’ for Saudi Arabia
     

    A recent report by international real estate company Jones Lang LaSalle said that 2018 would be a “year of implementation” for Saudi Arabia following a historic 2017 in which Saudi Arabia saw great social and economic change. JLL predicts that recent reforms enacted by King Salman and Crown Prince Mohammed bin Salman will “translate positively” to the economy and […]

     
  • Saudi Arabia Releases Prince Alwaleed bin Talal and Three Other Prominent Detainees
     

    Just hours after a Reuters interview with reporter Katie Paul, Prince Alwaleed bin Talal was released from his cushy confines in the Ritz Carlton, Riyadh, where he and other prominent businessmen and royals have been detained in a crackdown on corruption in Saudi Arabia that started in November. Prince Alwaleed gave a tour of his large […]

     
  • Saudi Arabia Announces 9 New Desalination Plants in 18 Months
     

    Saudi Arabia said it would build 9 new desalination plants in the next 18 months on the Red Sea coast, according to an announcement by the Saudi Minister of Environment, Water and Agriculture, Eng. Abdulrahman al-Fadhli. The new plants will cost SAR 2 billion ($533 million). The minister said the plants would be built “using modern techniques” […]

     
  • Saudi Alternative Energy Sector Set for Big Year with Localization in Focus
     

    With U.S. shale now forecasted by analysts and the U.S. EIA to out-produce Saudi Arabia and Russia in 2018, and Saudi Arabia needing to burn less of its own oil for domestic use and continue toward a more sustainable economy, alternative energy in the Kingdom has never been hotter. Saudi leaders have long talked about the benefit of a […]

     
  • Will Saudi Arabia Purchase a Stake in Hollywood’s Largest Agency?
     

    Saudi Arabia’s Public Investment Fund (PIF) is in talks to buy a 5-10% stake in Endeavor, the holding company for Hollywood talent agency William Morris Endeavor (WME), for $500 million, according to reports. The Beverly-Hills, California based agency formed in 2009 as a merger between William Morris Agency and Endeavor Agency and represents artists across […]

     
  • Saudi Arabia Lowers Barriers to Stock Market Investment Again as Reforms Progress
     

    Saudi Arabia announced that it will lower the required minimum assets under management for qualified foreign institutions starting this month, according to Bloomberg and a statement by the Saudi Capital Markets Authority (CMA). The announcement said the CMA will also allow foreigners to own up to 49 percent of listed securities on Saudi Arabia’s stock market. […]

     
  • ‘Largest Ever’ Budgeted Expenditure for Saudi Arabia in 2018 as Kingdom Looks to Propel Growth
     

    Government officials unveiled Saudi Arabia’s largest budgeted expenditure ever as the Kingdom looks to propel economic growth following two years of reduced spending. Compared to previous years, the budget is expansionary. Saudi Arabia will spend SR88 billion ($23.5 billion) more in 2018 compared with 2017. The announcement was made at a press conference at which Finance Minister Mohammed […]

     

MUST-READS

  • Saudi Minister of Investment Discusses Headquartering in KSA: Audio

    On the latest episode of Frankly Speaking, Khalid Al Falih, the Investment Minister of Saudi Arabia, tells Frank Kane why it makes sense for global companies to base their regional business in the Kingdom

  • Pfizer eyes investment, recruitment, R&D in Saudi Arabia

    “Pfizer is an active player in Saudi Arabia, and is in a continuous dialogue with multiple authorities to explore new opportunities, including investments, to support its vision and objectives,” van der Loo said. Arriving in the region at a critical time, van der Loo said he is relishing the challenge ahead.

  • GCC states race for foreign investment

    Saudi officials have denied working to undermine Dubai's dominance as the region’s business hub, and Saudi commentator Ali Shihabi told Al-Monitor, “People are overdramatising this issue.” The kingdom wants companies benefiting from multi-billion-dollar government contracts “to make more of a commitment to the country,” Shihabi argued.

  • Reimagining U.S. Strategy in the Middle East: Sustainable Partnerships, Strategic Investments

    In this summary, researchers assess the advantages and trade-offs of a reimagined Middle East strategy where strategic goals link to a broader understanding of stability that prioritizes reduced conflict, better governance, and greater development. They analyze long-standing U.S. interests and relationships with partners and develop an alternative framework in which the challenge of Iran is one among several factors that should be considered.

  • Saudi Wealth Fund Bets on Startups With Hambro Perks Investment

    Saudi Arabia’s sovereign wealth fund is backing a Middle East venture-capital fund run by Hambro Perks Ltd., joining the trend for state investors in the region to put money into early-stage companies. The Public Investment Fund of Saudi Arabia is an anchor investor in the $50 million Oryx Fund, which will target fintech, health and education technology startups across the Middle East and North Africa, according to Dominic Perks, co-founder of London-based venture firm Hambro Perks. He declined to say how much the Saudi fund, also known as PIF, has invested.

  • Saudi P2P Lending Platform Raqamyah Raises $2.3 million Through Latest Investment Round Led By Impact46

    Raqamyah, a Saudi-based peer-to-peer (P2P) lending platform operating under Saudi Arabian Monetary Authority (SAMA) Sandbox environment, has reportedly raised $2.3 million through its latest investment round, which was led by Impact46 with participation from Vision Ventures, Mad’a Investment, Alyusur Company, Fadeed Investment, and strategic angel investors.

  • Saudi gaming scene attracts new investment

    The purchase comes as the Saudi gaming market soars, with revenues topping $1.09bn in 2019 and growth of 41.1 per cent year-on-year. The kingdom is now home to more than 21.1 million gamers and is the 19th biggest gaming market in the world.

  • Iran’s natural gas output hits record high even as US sanctions curb investment

    Register Now Production has hit a record of 1.04 Bcm/d, Iran's oil minister Bijan Zanganeh said Feb. 7 on the sidelines of a petrochemicals conference in Tehran. Iran in April last year officially began the long-delayed development of phase 11 of the giant South Pars gas field. Output in early 2020 was 670 million cm/d.

  • Saudi PIF Plans to Boost Investments in Real Estate

    The Fund established the Saudi Real Estate Refinance Company (SRC) that aims to enhance the performance of the real estate market, increase its contribution to GDP, and raise the rate of homeownership among Saudis.

  • Saudi investments in Jordan at $13bln, says ambassador

    Saudi Arabia is among the top foreign investors in Jordan with investments amounting to $13 billion, according to the country's ambassador in Amman, Nayef bin Bandar Al-Sudairy. In an interview with the Jordan News Agency (Petra), the ambassador indicated that Saudi Arabia is among the top three investors in Jordan's transport, infrastructure, energy, financial, commercial, and tourism sectors.