FII 2019: Business deals worth USD 15 billion signed at key financial summit in Saudi Arabia
5 years, 2 months ago

FII 2019: Business deals worth USD 15 billion signed at key financial summit in Saudi Arabia

India TV News  

Saudi Arabia on Tuesday announced that 23 investment agreements totalling more than USD 15 billion in value were signed on the first day of a three-day high-profile financial summit, being attended by Prime Minister Narendra Modi and several other world leaders. The deals were signed on the sidelines of the Future Investment Initiative, dubbed "Davos in the desert", which is an initiative of Saudi Crown Prince Mohammed bin Salman, who plans to diversify the Kingdom''s economy while reducing its economic dependence on petroleum products under his ambitious vision 2030 plan. Under Saudi Vision 2030, Saudi Arabia is undergoing an ambitious programme of economic reform, and the world is taking notice," Governor of SAGIA Ibrahim Al-Omar said, noting that Saudi Arabia climbed 30 places in the World Bank’s Doing Business 2020 report earlier this month. According to the 2019 Global Competitiveness Report published by the World Economic Forum, Saudi Arabia has moved up three positions to the 36th place, globally, through its efforts to diversify the Kingdom’s economy.

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History of this topic

Saudi Arabia seeks $80 billion investments. Aim? More tourists
10 months, 1 week ago

Saudi Arabia seeks $80 billion investments. Aim? More tourists

Hindustan Times  

Saudi Arabia is seeking to attract as much as $80 billion in private investment into the tourism industry as the kingdom looks to share the financial burden of plans to become one of the world’s most visited destinations. “I want the private sector to represent the majority of investment,” Tourism Minister Ahmed Al Khateeb said in an interview in Riyadh …

America and Saudi Arabia are locked in a bitter battle over oil. The stakes are massive
2 years, 2 months ago

America and Saudi Arabia are locked in a bitter battle over oil. The stakes are massive

CNN  

New York CNN Business — The relationship between the United States and Saudi Arabia is one of the most important on the planet. After trying and failing to persuade OPEC to ramp up oil production, President Joe Biden reversed his 2020 campaign promise to make Saudi Arabia a “pariah” over its human rights record. US officials thought they reached a …

Saudi Arabia's National Commercial Bank Says it Will Buy Rival Lender Samba in $15 Billion Deal
4 years, 3 months ago

Saudi Arabia's National Commercial Bank Says it Will Buy Rival Lender Samba in $15 Billion Deal

News 18  

Saudi Arabia’s National Commercial Bank on Sunday said it will purchase rival lender Samba in a deal valued at around $15 billion to create what would be the kingdom’s largest bank. “The National Commercial Bank and Samba financial group today announced that they have entered into a binding agreement to merge,” the banks said in a joint statement. “If approved …

Saudi Arabia eyes long-term partnership with India; to invest $100 bn in petrochemicals, infra, mining
5 years, 3 months ago

Saudi Arabia eyes long-term partnership with India; to invest $100 bn in petrochemicals, infra, mining

Firstpost  

Saudi Arabia is a key pillar of India’s energy security, being a source of 17 percent or more of crude oil and 32 percent of LPG requirements of India New Delhi: Saudi Arabia, the world’s biggest oil exporter, is looking at investing $100 billion in India in areas of petrochemicals, infrastructure and mining among others, considering the country’s growth potential. …

Saudi Arabia signs deals to invest USD 20 bn in cash-strapped Pakistan
5 years, 10 months ago

Saudi Arabia signs deals to invest USD 20 bn in cash-strapped Pakistan

India TV News  

A slew of investment agreements worth USD 20 billion was signed with Saudi Arabia and Pakistan on Sunday. Saudi Crown Prince Mohammad bin Salman arrived in Islamabad late on Sunday on a two-day visit, following which a Pakistan and Saudi officials signed MoUs for bilateral cooperation in a number of areas at a ceremony in the Prime Minister House. Prince …

Saudi Arabia makes new pitch for $400 billion investment
5 years, 11 months ago

Saudi Arabia makes new pitch for $400 billion investment

CNN  

Dubai CNN — Saudi Arabia has unveiled a new bid to lure investments in the biggest such initiative since the killing of journalist Jamal Khashoggi. Under a new industry and logistics program, the country is looking for private sector help to develop its manufacturing, mining, energy and logistics sectors, according to the Saudi Press Agency. The country’s energy minister, Khalid …

Kingdom Holding says it will invest $1 billion in Saudi Arabia
5 years, 11 months ago

Kingdom Holding says it will invest $1 billion in Saudi Arabia

CNN  

Dubai CNN Business — The company founded by Saudi Arabia’s most prominent globalinvestor plans to spend more of its money at home. Kingdom Holding CEO Talal Ibrahim Al Maiman said Monday the firm plans to spend $1 billion in Saudi Arabia over the next six months as the country attempts to repair its reputation withforeigninvestors after the murder of journalist …

Saudi Arabia's investment conference draw deals worth $50 billion despite boycotts over Jamal Khashogi's killing
6 years, 2 months ago

Saudi Arabia's investment conference draw deals worth $50 billion despite boycotts over Jamal Khashogi's killing

Firstpost  

A number of Western politicians and global business chiefs stayed away from Saudi Arabia’s premier investment event over the Khashoggi case. Riyadh: Saudi Arabia’s crown prince trumpeted on Tuesday a conference that has drawn investment deals worth $50 billion despite a boycott over the killing of journalist Jamal Khashoggi, declaring the event as “great - more people more money”. The …

Saudi Arabia signs deals worth $50 billion in oil, gas and infrastructure
6 years, 2 months ago

Saudi Arabia signs deals worth $50 billion in oil, gas and infrastructure

Live Mint  

Riyadh: Saudi Arabia signed deals worth more than $50 billion in oil, gas, infrastructure and other sectors at an investment conference in Riyadh on Tuesday, officials there said. Companies involved in the deals included commodities trader Trafigura, Total, Hyundai, Norinco, Schlumberger, Halliburton and Baker Hughes, state television said. Saudi Aramco said it had signed agreements with 15 international partners worth …

Future Investment Initiative: Saudi is still doing deals
6 years, 2 months ago

Future Investment Initiative: Saudi is still doing deals

CNN  

Riyadh, Saudi Arabia CNN Business — Saudi Arabia has signed agreements worth over $50 billion with global companies at an investor conference in Riyadh despite the international uproar over the killing of journalist Jamal Khashoggi. State oil company Aramco announced Tuesday that it had signed 15 memorandums of understanding worth $34 billion with firms from eight countries, including the United …

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