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 Jamal Khashoggi. “We believe there are better opportunities in Saudi Arabia and the region today,” Al Maiman told CNN Business’ Emerging Markets Editor John Defterios. “Much better multiples and greater potential.” Kingdom Holding was founded by Prince Alwaleed bin Talal, a leading investor who purchased stakes in Citigroup, Twitter, Lyft and Chinese e-commerce firm JD.com. And therefore, I hope this is an invitation to everyone to reconsider and come to Saudi Arabia.” Kingdom Holding has tried to get back on track after the release of Alwaleed last year.

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History of this topic

How Saudi Arabia’s $1.5 trillion Neom megacity has had another major setback
2 months ago

How Saudi Arabia’s $1.5 trillion Neom megacity has had another major setback

Firstpost  

Saudi Arabia’s Neom, a $1.5 trillion mega-city project aimed at transforming the Kingdom’s economy, has run into a new challenge. This is among the many roadblocks the project has experienced, including scaled-back timelines and complaints of harsh working conditions Neom, launched in 2017 by Saudi Crown Prince Mohammed bin Salman, is envisioned as an ultra-modern city that spans 26,500 square …

Saudi Arabia’s investment fund has been set an impossible task
8 months ago

Saudi Arabia’s investment fund has been set an impossible task

Live Mint  

About a decade ago, a flashy, deep-pocketed investor made an appearance. Saudi Arabia’s Public Investment Fund had a mandate to go big, and was ready to: it picked up a $3.5bn stake in Uber, placed $45bn in the world’s largest technology-investment fund, SoftBank’s Vision Fund, and provided half the capital for a $40bn infrastructure fund run by Blackstone, a private-equity …

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 …

Saudi Arabia tops sovereign wealth spending league with $31.5bn investment spree
1 year ago

Saudi Arabia tops sovereign wealth spending league with $31.5bn investment spree

The Telegraph  

Elsewhere, the PIF spent $4.9bn last April to buy Californian mobile game developer Scopely, while 2023 also saw it become a major shareholder in Japan’s Nintendo. The PIF had a relatively modest presence on the global stage until it was reformulated eight years ago by Crown Prince Mohammed Bin Salman, Saudi Arabia’s de facto ruler. The Crown Prince, who is …

Killing Them Softly: Saudi Arabia, China teaming up for AI is a major headache for US' monopoly
1 year, 4 months ago

Killing Them Softly: Saudi Arabia, China teaming up for AI is a major headache for US' monopoly

Firstpost  

Saudi Arabia and China’s relationship in terms of tech is becoming worrisome for US. While the US is trying to restrict the export of AI chips to China, and now West Asia, Saudi Arabia and China have found the perfect partner in each other to develop AI and AI hardware While the US may have a monopoly over AI as …

For Saudi Arabia, sport is the new oil
1 year, 4 months ago

For Saudi Arabia, sport is the new oil

The Hindu  

Published : Sep 07, 2023 11:00 IST - 11 MINS READ Saudi Arabia, the world’s second largest oil producer, has gone into overdrive in recent years in its efforts to become a global player in international sports. Most of these investments have been made through Saudi Arabia’s $776 billion Public Investment Fund, considered to be one of the largest sovereign …

Can Saudi Arabia's billion-dollar bet on tourism succeed?
1 year, 6 months ago

Can Saudi Arabia's billion-dollar bet on tourism succeed?

Hindustan Times  

Earlier this month, Saudi Arabia signed a multimillion-dollar deal with Habitas, the American company that got its start setting up luxury camping at the annual Burning Man festival in the US desert. "It's extremely exciting to observe what's happening there because, up until recently, Saudi Arabia had been something of a blank spot on the tourist map," Markus Pillmayer, a …

As Blinken visits, top Saudi diplomat says kingdom seeks US nuclear aid but ‘others’ also bidding
1 year, 7 months ago

As Blinken visits, top Saudi diplomat says kingdom seeks US nuclear aid but ‘others’ also bidding

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia’s foreign minister said after meeting with the visiting U.S. secretary of state on Thursday that while the kingdom would welcome U.S. aid in building its civilian nuclear program, “there are others that are bidding.” Foreign Minister Prince Faisal bin Farhan was responding to a question about recent news reports that Saudi Arabia is …

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 sovereign-wealth fund joins 100-year bond club
2 years, 3 months ago

Saudi sovereign-wealth fund joins 100-year bond club

Live Mint  

Saudi Arabia braved turbulent markets to join the small club of issuers that have borrowed for 100 years from investors, with its sovereign-wealth fund selling the ultralong debt as part of a $3 billion bond-market debut. The three-part sale of green bonds tapped global investors for funds that will help support projects at the heart of Crown Prince Mohammed bin …

Saudi Arabia is booming with visitors and this time it isn’t only about oil
2 years, 4 months ago

Saudi Arabia is booming with visitors and this time it isn’t only about oil

Hindustan Times  

The more than 300 apartments in Almajdiah Residence’s new Riyadh complex sold in just a month for cash, without the company even having to advertise. Saudi Arabia is booming with visitors and this time it isn’t only about oil This is Saudi Arabia, the world’s biggest exporter of oil, so it’s no surprise the property market is red-hot as income …

Saudi Arabia gives 4% of Aramco worth $80B to fund
2 years, 11 months ago

Saudi Arabia gives 4% of Aramco worth $80B to fund

The Hindu  

Saudi Arabia said Sunday it will transfer 4% of the stock in the state-run oil giant Aramco to a sovereign wealth fund, an infusion valued at nearly $80 billion as the kingdom tries to overhaul its energy-dependent economy. Saudi Crown Prince Mohammed bin Salman, the assertive son of King Salman, made the decision to transfer the stock, the state media …

Saudi Arabia transfers $80 billion Aramco stake to kingdom’s wealth fund
2 years, 11 months ago

Saudi Arabia transfers $80 billion Aramco stake to kingdom’s wealth fund

Hindustan Times  

Saudi Arabia transferred a stake worth about $80 billion in state oil giant Aramco to the kingdom’s wealth fund as part of plans to boost its assets under management to over $1 trillion in four years. Saudi Arabia said it will transfer 4% of its stock in the state-run oil giant Aramco to its state investment fund, a nearly $80 …

Saudi Arabia to stop contracting with firms without local HQ
3 years, 11 months ago

Saudi Arabia to stop contracting with firms without local HQ

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia announced on Monday that it plans to stop signing contracts with foreign companies that don’t have their Mideast headquarters in the kingdom, state-run media reported, a bold move that could escalate business competition in the region. 2024, aims to solicit foreign investment, increase efficiency of state spending and boost local employment, according to …

Saudi stock offering creates world’s most valuable company
5 years, 1 month ago

Saudi stock offering creates world’s most valuable company

Associated Press  

RIYADH, Saudi Arabia — Saudi Arabian oil company Aramco surpassed Apple as the world’s most valuable public company Wednesday when its shares made their debut on the Saudi stock exchange, part of an ambitious shift away from the very fossil fuels the country’s economy depends on. Zachary Cefaratti, chief executive officer of Dalma Capital, which manages Saudi equity funds that …

Saudi Aramco valued at up to $1.7 trillion as share sale gets underway
5 years, 1 month ago

Saudi Aramco valued at up to $1.7 trillion as share sale gets underway

CNN  

London CNN Business — Saudi Arabia believes its giant state oil monopoly is worth as much as $1.7 trillion. That means Aramco, the most profitable company in the world, could be worth between 6 trillion riyals and 6.4 trillion riyals — making it also by far the world’s most valuable company ahead of Apple. That won’t be the only record …

Saudi Arabia formally starts IPO of oil firm Saudi Aramco
5 years, 2 months ago

Saudi Arabia formally starts IPO of oil firm Saudi Aramco

Associated Press  

DHAHRAN, Saudi Arabia — Saudi Arabia formally began an initial public offering Sunday of a sliver of oil giant Saudi Aramco after years of delay, hoping international and local investors will pay billions of dollars for a stake in the kingdom’s crown jewels. Saudi Aramco also has proven liquid reserves of 226.8 billion barrels, the largest of any company in …

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 …

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 to invest USD 100 billion in India
5 years, 3 months ago

Saudi Arabia to invest USD 100 billion in India

India TV News  

World's biggest oil exporter Saudi Arabia is looking at investing USD 100 billion in India in areas of petrochemicals, infrastructure and mining among others, considering the country's growth potential. "Saudi Arabia is looking at making investments in India potentially worth USD 100 billion in the areas of energy, refining, petrochemicals, infrastructure, agriculture, minerals and mining," Al Sati told news agnecy …

Saudi Arabia is in a rush to boost oil prices ahead of record-setting Aramco IPO
5 years, 4 months ago

Saudi Arabia is in a rush to boost oil prices ahead of record-setting Aramco IPO

CNN  

New York CNN Business — Today’s stubbornly-low oil prices are standing in the way of Saudi Arabia’s grand ambitions. Saudi Arabia’s surprise decision over the weekend to install a new oil minister, its third in just over three years, reflects a sense of urgency about boosting prices ahead of the planned Aramco IPO. The entire country is intertwined with oil …

Saudi Aramco remains world’s most profitable company
5 years, 5 months ago

Saudi Aramco remains world’s most profitable company

Live Mint  

Saudi Aramco showed Monday it’s still the world’s most profitable company -- and paid out almost all its net income in dividends -- despite the dwindling price of oil. The company’s “unrivaled financial results” amid lower oil prices are “a testament to our resilience.” Aramco paid out $46.4 billion in dividends in the first half. That’s of particular interest to …

Saudi Arabia sees $100 billion investment opportunity in India: Crown Prince
5 years, 10 months ago

Saudi Arabia sees $100 billion investment opportunity in India: Crown Prince

Live Mint  

Oil-rich Saudi Arabia sees an investment opportunity of $100 billion in India in various sectors, said visiting Crown Prince Mohammed Bin Salman Wednesday here. Addressing the media along with Prime Minister Narendra Modi, the crown prince said Saudi Arabia has already invested $44 billion in India since the visit of Modi in 2016 to the Gulf nation. "We understand that …

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 …

Saudi spending to hit record high as oil prices resume slide
6 years ago

Saudi spending to hit record high as oil prices resume slide

Associated Press  

RIYADH, Saudi Arabia — Saudi Arabia’s expenditures will hit a record-high in 2019, with plans to increase state spending by 7 percent to reach $295 billion, even as declining oil prices have forced the kingdom to adopt austerity measures. Capital Economics said this year’s Saudi budget seems to be relying on optimistic assumptions for oil prices to rise to almost …

Saudi Arabia faces fight for investment after Khashoggi killing
6 years, 1 month ago

Saudi Arabia faces fight for investment after Khashoggi killing

CNN  

Dubai CNN Business — Saudi Arabia’s young crown prince had a vision for his kingdom: a country with a diversified economy, a booming tourism and entertainment industry and a budding tech hub with some of the world’s biggest names. ‘Maybe he did, maybe he didn’t’ But he also left open the possibility that bin Salman may have been involved, as …

Trump Says U.S. To Stand By Saudi Arabia Even If MBS Ordered Khashoggi Murder
6 years, 1 month ago

Trump Says U.S. To Stand By Saudi Arabia Even If MBS Ordered Khashoggi Murder

Huff Post  

The world is a very dangerous place! Iran states openly, and with great force, “Death to America!” and “Death to Israel!” Iran is considered “the world’s leading sponsor of terror.” On the other hand, Saudi Arabia would gladly withdraw from Yemen if the Iranians would agree to leave. After my heavily negotiated trip to Saudi Arabia last year, the Kingdom …

Trump statement on Saudi crown prince and the killing Jamal Khashoggi
6 years, 1 month ago

Trump statement on Saudi crown prince and the killing Jamal Khashoggi

CNN  

CNN — Office of the Press Secretary FOR IMMEDIATE RELEASE November 20, 2018 Statement from President Donald J. Trump on Standing with Saudi Arabia America First! Iran states openly, and with great force, “Death to America!” and “Death to Israel!” Iran is considered “the world’s leading sponsor of terror.” On the other hand, Saudi Arabia would gladly withdraw from Yemen …

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 conference begins after exodus of CEOs
6 years, 2 months ago

Saudi conference begins after exodus of CEOs

CNN  

Riyadh, Saudi Arabia CNN Business — Saudi Arabia’s investment conference opened on Tuesday with a dearth of big name speakers and a fleeting appearance by its sponsor, Crown Prince Mohammed bin Salman. Speaking to CNN Business at the conference, the head of Saudi oil company Aramco, Amin Nasser, said “everyone here feels sorry” about Khashoggi’s death but the kingdom was …

Here’s where Saudi Arabia has invested around the world
6 years, 3 months ago

Here’s where Saudi Arabia has invested around the world

CNN  

London CNN Business — Saudi Arabia has spent the past few years pumping its oil riches into Silicon Valley. Tech companies have been among the major beneficiaries of Saudi Arabia’s bid to diversify its economy, receiving billions of dollars via direct investments from the country’s sovereign wealth fund, or indirectly through a massive fund established with Japan’s SoftBank. Public Investment …

How will Saudi Arabia deal with the stock market plunge?
6 years, 3 months ago

How will Saudi Arabia deal with the stock market plunge?

Al Jazeera  

Saudi shares take a dive in the aftermath of the disappearance of journalist Jamal Khashoggi. The fall comes a day after US President Donald Trump threatened ‘severe punishment’ if Saudi Arabia was found to be responsible for Khashoggi’s disappearance, but Riyadh warned it would retaliate if economic sanctions are imposed on it. As pressure mounts on Saudi Arabia, several US …

Saudi Arabia’s money was a boon to Silicon Valley. Now it’s a headache.
6 years, 3 months ago

Saudi Arabia’s money was a boon to Silicon Valley. Now it’s a headache.

CNN  

CNN Business — For years, Saudi Arabia has been one of the unofficial banks for the tech industry. Uber received a staggering $3.5 billion in funding from Saudi Arabia’s Public Investment Fund in 2016 and added the Public Investment Fund’s managing director to its board, where he still serves today. The statements highlight the new challenge much of the tech …

Why Saudi Arabia Would Want to Invest in Elon Musk and Tesla
55 years ago

Why Saudi Arabia Would Want to Invest in Elon Musk and Tesla

Wired  

At first blush, Elon Musk and the Kingdom of Saudi Arabia may appear to be strange bedfellows. But, according to Musk, who recently made news when he talked and tweeted about taking Tesla private, the investors controlling Saudi Arabia's sovereign wealth fund have approached him multiple times since the beginning of last year. The country's ruling family is well aware …

Saudi Arabia's Ambitious Economic Overhaul Hinges On Reducing Its Oil 'Addiction'
6 years, 7 months ago

Saudi Arabia's Ambitious Economic Overhaul Hinges On Reducing Its Oil 'Addiction'

NPR  

Saudi Arabia's Ambitious Economic Overhaul Hinges On Reducing Its Oil 'Addiction' Enlarge this image toggle caption Ahmed Jadallah/Reuters Ahmed Jadallah/Reuters Saudi Aramco, Saudi Arabia's state oil company, is often described as the kingdom's crown jewel. Sponsor Message But Krane says Saudi Arabia has been its "own best customer" for crude for a long time, consuming about a third of the …

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