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Goldman Sachs Applies to Saudi CMA for Equities Trading License in Saudi Arabia
- June 2,2017
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- SUSTG Team
Goldman Sachs has applied to Saudi Arabia’s capital markets regulator for a license to trade equities in the kingdom, two sources familiar with the move said, in the latest step by Western banks to expand operations in the country, Reuters reports. The bank has been operating in Saudi Arabia since 2009 as an agent and underwriter, […]
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Counting The US-Saudi Deals: A Look at What We Know So Far following President Trump’s Visit to Saudi Arabia
- May 23,2017
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- SUSTG Team
Bloomberg and naturalgasintel.com feature a thorough rundown of all of the deals that were announced during the recent visit by President Donald Trump to Saudi Arabia. While the total remains unknown, the deals are estimated to be valued between $300 and $400 billion. Aerospace, Arms and Defense – $110 billion U.S. Department of Defense and Saudi […]
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Following President Trump’s Visit, U.S.-Saudi Business and Diplomatic Ties Reach New Heights
- May 22,2017
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- SUSTG Team
The two-day visit by President Trump and top members of his family and staff to Riyadh, Saudi Arabia marks a new height in the history of U.S.-Saudi diplomatic and business relations as the warm Saudi embrace of President Trump was on full display in the Kingdom. President Trump’s visit amounted to a bonanza for large, established American companies […]
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New Saudi Arms Manufacturer ‘SAMI’ Launched As Part of Vision 2030 Ahead of Trump Visit
- May 18,2017
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) announced on Wednesday the launch of a national state company for arms manufacturing as part of its Vision 2030 economic and social reform program, according to reports. The new company, the Saudi Arabian Military Industries (SAMI), will be producing not just arms but armored vehicles and will work to repair […]
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New Saudi Arms Manufacturer ‘SAMI’ Launched As Part of Vision 2030 Ahead of Trump Visit
- May 18,2017
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) announced on Wednesday the launch of a national state company for arms manufacturing as part of its Vision 2030 economic and social reform program, according to reports. The new company, the Saudi Arabian Military Industries (SAMI), will be producing not just arms but armored vehicles and will work to repair […]
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Overview of Saudi Arabia’s Drive Toward Privatization
- May 17,2017
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- SUSTG Team
Saudi Arabia’s push toward privatization is a key component of the government’s ambitious Vision 2030 economic and social reform program, and necessary for the Kingdom’s goals of diversifying its economy away from petroleum revenue dependency. The news service Reuters provides a “factbox” list of Saudi Arabia’s sectors that are making progress toward privatization, and encouraging […]
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Major Reduction in Quarterly Budget Deficit Figures a Positive for Kingdom’s Economic Reforms
- May 11,2017
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- SUSTG Team
In an analysis of official data from the Kingdom, Bloomberg found a significant year-on-year reduction in Saudi Arabia’s budget deficit from Q1 2017, a sign that the Kingdom’s economic reforms coupled with an uptick in oil prices have positively impacted the government’s balance sheet. According to Saudi Arabia’s finance ministry and as reported in Bloomberg, […]
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Plans Move Ahead for Saudi Arabia’s ‘Fannie Mae’ Mortgage-Refinancing Firm
- May 4,2017
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- SUSTG Team
Saudi Arabia’s first mortgage-refinancing firm has started approaching banks to buy their mortgage portfolios as the state tries to boost lending for homes, Bloomberg reports. In 2015, Bloomberg and Reuters reported on Saudi Arabia’s plans to work with the Boston Consulting Group to help start a state-owned mortgage firm similar to the U.S.’s Fannie Mae and […]
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In Interview, Deputy Crown Prince Mohammed bin Salman Discusses Economic Reforms, Regional Challenges
- May 3,2017
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- SUSTG Team
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman gave a wide-ranging interview with Saudi TV station MBC yesterday, discussing regional politics, the war in Yemen, the economy, Vision 2030, and Saudi Aramco’s planned IPO. The interview – given in Arabic – was widely broadcasted in the Kingdom and discussed on social media sites. It was his […]
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Quarterly Oil Market Update from Jadwa Investment finds Cuts Contributing to Lower Balances
- April 25,2017
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- SUSTG Team
If Saudi Arabia as the de-facto head of OPEC used to set the ceiling for the price of oil, now it looks like that role has been taken over – by U.S. shale producers. However, Saudi Arabia can still set the floor. According to recently released data by Riyadh-based Jadwa Investment, Both OPEC and non-OPEC […]
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MUST-READS
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Saudi Arabia grants 71 new industrial licenses in August with $426.5mln investment
The total number of existing and under construction industrial facilities reached 9,350 in August 2020
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2020 Investment Climate Statements: Saudi Arabia
As in 2018, the SAG took several steps in 2019 to further improve the Kingdom’s investment climate. Regulatory changes were made to allow foreign investors to own controlling stakes in Saudi companies, a new consolidated authority to protect intellectual property rights was launched, significant investments in infrastructure were made, reforms were introduced to remove guardianship laws and travel restrictions for adult women, and a tourism visa was introduced, opening the Kingdom to non-religious tourism for the first time.
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Syria’s Assad says he wants to expand Russian investments to help offset U.S. sanctions
Assad, who gave the comments during a meeting in Damascus with Russian Deputy Prime Minister Yuri Borisov and Foreign Minister Sergei Lavrov, said he wanted to see Russian investments in key areas of the economy that had been agreed in the past succeed.
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Saudi Arabia’s Future Investment Initiative postponed until January
One executive involved in the event said that consideration had been given to staging a “virtual” FII but it was decided that an in-person event was preferable, even if it had to be delayed. “The challenge was not guaranteeing safety once in Saudi Arabia, but the difficulties of getting there and back for a three-day event,” he added.
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Saudi Aramco Appoints New CEO for $500 Million Investment Arm
SAEV invests in early-stage oil, gas, renewable and chemicals technologies that can potentially benefit the parent company. SAEV generally spends several million to tens of millions of dollars on each acquisition, focusing on companies developing drilling techniques, chemical applications or blockchain-based trading.
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Saudi Aramco continues to explore India investment plan
India’s Ministry of Petroleum and Natural Gas recently notified liberalised guidelines for bulk and retail marketing of petrol and diesel, offering new opportunities for foreign oil companies, including those in the Gulf, to enter this lucrative energy business.
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Assets of Saudi investment funds soar to $101.4bn in Q2
The value of assets held by Saudi public and private investment funds jumped by 17.85% on a year-on-year (YoY) basis during the second quarter (Q2) of 2020, standing at SAR 380.66 billion from SAR 323 billion.
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Saudi Arabia’s Public Investment Fund looks to invest up to $1 billion in Jio’s fibre assets
Both ADIA and PIF have contributed a total $2.2 billion to Jio Platform's $20.8 billion fundraise that saw 13 investors, led by Facebook, coming on board in less than three months. A fibre deal could further strengthen ties between the Kingdom and India's biggest company.
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Saudi’s Pi Flow raises investment to provide virtual accounting services to startups and SMEs
Founded in 2012 by Waleed Merdad & Mohammad Alraddadi, the startup that had remained bootstrapped before raising this round of financing offers virtual bookkeeping services to startups and SMEs. Pi Flow, according to the statement acts as a virtual accountant for its clients offering the bookkeeping services, VAT reporting, and financial reports for a fixed monthly fee. According to its website, it offers packages starting from SAR 1,500 per month.
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SVC signs investment deal with technology investment fund
The Saudi Venture Capital Company (SVC) signed on Monday an investment contract with the venture capital (VC) fund Merak Technology Investment Fund, licensed by the Capital Market Authority (CMA), to encourage the establishment of VC funds that invest in startups during their various stages of growth.
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