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  • Syrian elections ended. What have we learned from the results?

    Syrians voted in 8,151 polling stations that opened across the country, with the exception of areas not controlled by the Assad regime. To cater to residents displaced from opposition-held areas, the government established special polling stations scattered throughout the country. For example, stations were set up for Raqqa residents in the Hama, Damascus, Hasakah, Homs, Latakia, and Tartous governorates. For Quneitra residents, more than 111 out of 175 stations were located outside the governorate.

  • Russian-Iranian military cooperation: How much can they depend on each other?

    Despite their differences, Russian-Iranian military cooperation will likely continue—and increase. But with both now on the back foot, the question is just how useful their cooperation is. Moscow is urging Iranian restraint in responding to Israel over the death of Haniyeh in Tehran not because of any inherent peace-loving nature, but because the Kremlin understands that, with its forces tied down in Ukraine, it is not in a position to do much to protect Iran in a wider conflict with Israel—especially if the Jewish state receives US military support.

  • PIF creates over 730,000 new jobs

    According to the report, PIF has been instrumental in driving economic growth and job creation through its various initiatives and investments. As the sixth-largest sovereign wealth fund globally, with SAR2.87 trillion (approximately $765 billion) in assets under management, the fund has been actively investing in high-impact projects and companies that are reshaping Saudi Arabia’s economic landscape.

  • Saudi wealth fund PIF’s asset base grew 29% in 2023 on continued investment momentum

    Saudi Arabia's Public Investment Fund, the kingdom’s sovereign investment arm, said its assets under management jumped 29 per cent to 2.87 trillion Saudi riyals ($765 billion) in 2023 as it continues to build its Saudi holdings and diversify its international portfolio of assets. The annualised returns for the sovereign wealth fund since 2017 rose to 8.7 per cent in 2023, up from 8 per cent a year earlier, the PIF said in its annual report published on Monday.

  • Saudi’s Neom mega-project hails a fleet of electric foiling water taxis

    Though Neom is looking to place key neighborhood amenities within reach of pedestrians and cyclists, electric shuttles and underground transit systems will transport citizens and tourists farther afield. Where getting around involves crossing waterways, folks may well fly above the surface courtesy of a Candela P-12 electric hydrofoiling taxi.

  • Mystery shopper program helps uncover IP violations across Saudi Arabia

    The Saudi Authority for Intellectual Property has issued its annual report for preserving intellectual property rights for 2023, showing that it received over 2,680 complaints related to copyrights, including trademarks. The growing awareness of the need to adhere to laws and regulations that govern the ownership, use and protection of intellectual property contributed to a 50 percent increase in the total number of complaints in 2023, the authority said.

  • A look at market share of major Saudi perfume companies

    The prospectus for the initial public offering (IPO) of Almajed for Oud Co. on the Main Market (TASI) revealed the market shares of companies operating in the Saudi perfume market in 2022. According to the prospectus, the top five frontrunners in the Saudi perfume market accounted for 36.9% of the total market shares in 2022, as the sector was relatively fragmented at the time. The remaining competitors took 64.3% of the total.

  • MEPCO to commence $91.94mln project backed by PIF

    The board of Middle East Paper Company (MEPCO) approved the investment in the Tissue Paper Production Line 6 project (TM6), which is estimated at SAR 345 million. The project aims to boost the production capacity of the Juthor factory located in King Abdullah Economic City (KAEC) by 60,000 tonnes, according to a bourse disclosure.

  • Ivanhoe Electric’s Saudi JV begins drilling first target

    Ivanhoe Electric (NYSE American: IE) (TSX: IE) said on Monday its joint venture in Saudi Arabia has started drill testing the first of two chargeability anomalies identified near the Al Amar gold-copper-zinc mine, which is owned by Ma’aden, the state-owned mining company and Ivanhoe’s 50/50 partner. In November 2023, the JV kicked off its exploration campaign on 48,500 km2 of land on the Arabian Shield, initially targeting the areas surrounding Al Amar that are considered highly prospective for volcanic massive sulphide (VMS) and epithermal deposit types.

  • Saudi Wealth Fund’s Returns Boosted by Global Markets Rally

    The Public Investment Fund’s annualized returns since 2017 rose to 8.7%, compared with 8% a year earlier, according to an annual report published Monday. Performance was boosted by last year’s rally in global markets, with the S&P 500 Index returning 24% in 2023.