Analysis

PUBLIC INVESTMENT FUND

PIF-backed Uber Technologies Buys Regional Rival Careem for $3.1 Billion

• SUSTG Team
• |
• 3. 26. 2019

It’s the biggest tech deal the Middle East region has ever seen. Uber Technologies, Inc. is buying regional ride-sharing rival Careem for $3.1 billion, $1.7 billion in convertible notes and $1.4 billion in cash.

• Governance

  

  King Salman Announces New Governor of the General Authority for Foreign Trade in Weekend Royal Orders

  SUSTG Team  |  3. 25. 2019

  Custodian of the Two Holy Mosques King Salman issued several royal orders on Saturday appointing a number of officials to positions, including appointing Abdulrahman Al-Harbi to be the first governor of the General Authority for Foreign Trade.

• ICT

  

  Saudi Arabia Enters Global Race for 5G Telecom with New STC Deals

  SUSTG Team  |  2. 26. 2019

  Saudi Arabia is in the global race to launch one of the first 5G telecom networks in the world and the largest 5G in the Middle East and North Africa, according to reports.

• Value Added Tax

  

  VAT Rollout in Saudi Arabia ‘Raised More Revenue than Initially Expected’ – Latest PWC Middle East Economy Watch

  SUSTG Team  |  2. 7. 2019

  "With some caveats, the early data suggests that the inflationary impact of the tax has been contained, the impact on growth is limited and in Saudi Arabia it has raised more revenue than was initially expected."

• Housing and Real Estate

  

  PIF-backed Saudi mortgage refinancing firm to expand offering in 2019 – Report

  SUSTG Team  |  2. 1. 2019

  The Public Investment Fund-backed Saudi Real Estate Refinance Company (SRC) expects to issue its first public sukuk this year and a second private placement in the next two weeks, while developing further plans to finance an expansion of the kingdom’s home mortgage market, according to reports.

• Investment

  

  ‘MSCI Tadawul 30 Index’ Goes Live with 30 Biggest Saudi Equities

  SUSTG Team  |  1. 30. 2019

  MSCI Inc. and the Saudi Stock Exchange (Tadawul) announced today the launch of the MSCI Tadawul 30 Index, a tradeable index, according to a press release.

• 

  Saudi Arabia Sets Up New Company for NEOM Fully Owned by Kingdom’s PIF

  SUSTG Team  |  1. 29. 2019

• GACA

  

  Royal Decree Removes Saudi Civil Aviation Authority President

  SUSTG Team  |  1. 22. 2019

  The chairman of Saudi Arabia’s General Authority of Civil Aviation (GACA), Abdul Hakim bin Mohammed Bin Sulaiman Al-Tamimi, has been removed from his post by a royal decree issued on Monday, the Saudi Press Agency and other regional outlets reported.

• Energy

  

  Saudi Arabia Explores Interconnected Gas Grid for Region

  SUSTG Team  |  1. 16. 2019

  Saudi Arabia may pursue an interconnected natural gas grid in the region that would link together the Kingdom with Oman, Kuwait, and the United Arab Emirates, according to reports.

• Labor

  

  Salaries in Saudi to Increase 5-6% in 2019, Women Participation to Rise 15%, Study Says

  SUSTG Team  |  1. 7. 2019

  Salaries for mid-level to senior professionals in Saudi Arabia will rise between 5-6% on average in 2019 and women will see a 15% rise in workforce participation in 2019, a recent study by GCC-based recruitment consultancy Cooper Fitch said.