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  • Saudi FM: Regional tensions threaten flow of investments and economic cooperation

    Prince Faisal stressed the importance of resolving regional conflicts by peaceful and diplomatic means to ensure the region's prosperity. "We thank the countries of the Asia Cooperation Dialogue for their support for the two-state solution and their recognition of the State of Palestine, and we urge the rest of the world to follow suit, which prompted us to contribute with brothers and friends in the establishment of the international coalition to implement the two-state solution," he said.

  • Saudi Arabia’s Quantum raises investment from HearstLab

    Quantum, Saudi Arabia’s leading adtech and data platform that connects advertisers with publishers, announced today that it has secured funding as part of its $7 million Pre-Series-A round from HearstLab, the investment arm of Hearst Corporation dedicated to scaling early-stage, women-led tech startups. This marks HearstLab’s inaugural investment in the Middle East and underscores the rapid growth of Saudi Arabia’s tech ecosystem.

  • Saudi Arabia’s ACWA Power, Turkey Discussing Energy Investment

    Saudi Arabia’s ACWA Power Co. is in talks with Turkey about investing in the country’s green-energy industry, according to Turkish officials familiar with the negotiations. Turkey’s Vice President Cevdet Yilmaz told a local news channel over the weekend that a “Saudi-owned company” had expressed interest in investing $5 billion in energy and other sectors. The talks are between ACWA Power and the Ministry of Energy and Natural Resources, the officials said, asking not to be identified because the matter is private. It’s not clear how far those talks have advanced.

  • Commentary: In the Gulf as in the US, crises can remove barriers to long-term investment

    The near doubling of US crude oil production to 9.5 million barrels per day from 2010 to 2015 rocked global oil markets. Oil prices were around $140 a barrel in mid-2014, but the surge in supply caused prices to crash to $40. For the Gulf countries, this was an unmitigated disaster, as so much of their economy — and with it their sociopolitical system — depended on high and stable oil prices.

  • Saudi Arabia draws $144B in foreign investments, says Alkhorayef

    This announcement was made during a promotional event in New York for the upcoming Multilateral Industrial Policy Forum (MIPF 2024), which will be held in Riyadh on Oct. 23-24, 2024. According to data available with Argaam, foreign investment within the Saudi economy rose to SAR 2.55 trillion by the end of Q1 2024, reflecting a 6% increase compared to the end of 2023.

  • Benchmarking VC Investment Against Macro Dynamics: Middle East, SEA, and Africa Focus

    Singapore and the UAE lead the way with the highest VC/GDP ratios in their regions, averaging 1.49% and 0.22%, respectively, between 2019 and 2023. These hubs offer optimal environments for scaling into larger markets due to government-backed initiatives, favorable regulations, and sovereign wealth fund support. On the other hand, Indonesia and Saudi Arabia are emerging as key players. Saudi Arabia, in particular, has seen consistent year-on-year growth in VC/GDP contribution since 2019, setting it apart from other regions.

  • Saudi industrial investments soar to $400bn after expat fees waived

    Investments in the Saudi industrial sector jumped 54 per cent, hitting SR1.5tn ($400bn) this year from SR992bn ($264bn) in 2019, according to a report released by the Federation of Saudi Cambers’ economic-affairs department. The analytical report addresses the impact of the state’s waiver on fees for expatriate workers in the industrial sector, an initiative introduced in 2019 and running until the end of 2025, under a recent extension decision.

  • 7,000 Italian companies eye on Saudi market for investments

    The announcement was made during the Saudi-Italian Business Forum, held on Wednesday at the Federation of Saudi Chambers’ headquarters. The Italian Ambassador to the Kingdom Carlo Balducci attended the event with over 140 companies and representatives from various government agencies from both countries.

  • Egypt PM says Saudi’s planned $5 bln investment independent of cenbank deposit

    Egypt's Prime Minister Mostafa Madbouly said on Thursday that a planned Saudi Arabian investment of $5 billion in Egypt is independent of funds the Gulf state has deposited in the country's central bank, sending bond prices higher. The country's sovereign dollar bonds rallied to fresh two-year highs. The 2059 maturity gained the most, rising 1.35 cents, to bid at 77.60 cents on the dollar by 1309 GMT, Tradeweb data showed.

  • Changes to Saudi Investment Law will help facilitate foreign investment

    “The new investment law introduces a number of positive changes that will help in fostering the continued development of the investment landscape in Saudi Arabia. The Investment Law represents a substantial amendment of the existing investment regime for both foreign and domestic investors and will further support the Kingdom’s transition away from oil and gas. The updates to the Investment Law create a sophisticated framework that reduces entry barriers, enhances legal certainty, and strengthens investor rights. The reforms unlock significant opportunities for long-term strategic partnerships and market expansion in the Kingdom”