|
QUOTED
“The kingdom’s higher number of listings was partly driven by its Nomu parallel market platform, which allows smaller companies to list with reduced regulatory requirements. Its 57 IPOs in 2024 included diverse sectors from healthcare leaders like Dr. Soliman Abdul Kader Fakeeh Hospital to tech firms like WSM Digitalization & Transformation Company.” UAE, Saudi markets eye fresh wave of blockbuster IPOs after record 2024 [Arabian Business]
|
|
|
|
TOP STORY
After six seasons in Diriyah the Formula E World Championship will be held in Jeddah February 14 and 15. [more]
|
|
MORE TOP STORYLINES
Via Basma AlBuhairan and Arunima Sarkar in weforum.org: Quantum technology, based on quantum mechanics principles, promises transformative capabilities in computation, communication and sensing. These capabilities can lead to breakthroughs across multiple domains, including secure communication networks, advanced materials discovery, improved climate modelling and more efficient drug development. Acknowledging these immense benefits, Saudi Arabia is actively integrating the Forum’s Quantum Economy Blueprint to support in positioning the Kingdom among global leaders as it formulates a comprehensive national quantum roadmap. Saudi Arabia’s quantum priorities span multiple areas, including talent development, research and development, hardware innovation, commercialization and raising awareness, reflecting a multi-faceted approach to building a robust quantum ecosystem.
|
in lenovo.com: The global technology powerhouse Lenovo Group Limited (HKSE: 992) (ADR: LNVGY) and Alat, a PIF company, have announced the completion of the US$2 billion investment (via three-year zero-coupon convertible bonds) alongside reaching the strategic collaboration agreements that were initially announced in May 2024. The deal has received shareholders’ approval and all regulatory approvals required for completion. Following the completion, Lenovo will establish a regional Middle East and Africa headquarters (RHQ) in Riyadh, Kingdom of Saudi Arabia (KSA), and a sustainable manufacturing facility in the Kingdom to serve customers in the region and beyond. The factory will manufacture millions of PCs and servers every year using local research and development (R&D) teams for fully end-to-end ‘Saudi Made’ products and is expected to begin production by 2026. The factory will join Lenovo’s extensive footprint of 30+ manufacturing sites around the world, spanning Argentina, Brazil, China, Germany, Hungary, India, Japan, Mexico, and the USA.
|
Via Rachel Ziemba in fdiintelligence.com: While the fund is still investing abroad, especially via its subsidiaries like Alat, new flows are smaller and tend to have local economic development goals and technology transfer as a priority. The biggest shift has come in portfolio flow rather than FDI, with PIF pulling back on some of its foreign portfolio holdings, including those in the US gaming industry. Some of these sales are just profitable exits, but prioritisation is underway. The country’s efforts to attract FDI have sparked an uptick in project announcements (according to fDi Markets) and actual inflows according to government data. However, coming close to the ambitious goal of $100bn in FDI per year by 2030 will be tough. As a result, local public capital may continue to be deployed to try to attract foreign capital. An area of recent success is in artificial intelligence and cloud computing, with Google recently signing a deal with PIF subsidiaries to help develop data centres in the country. Beyond this, Saudi Arabia mandates that foreign companies seeking government contracts set up regional offices within the country, hoping these will be a vehicle for FDI and other investment. Some of these offices manage local wealth or advise the government, but the government hopes others will lead to FDI.
|
|
|
|
|
|
MORE ON THE KINGDOM AND BEYOND
|
|
|
|
|
Saudi Arabia condemned and rejected on Wednesday an Israeli map that claimed Jordanian, Syrian and Lebanese territories as part of so-called “greater Israel.” The Kingdom stressed...[via arabnews.com]
|
|
|
| |
|
|
|
|
The Royal Commission for Riyadh City (RCRC) has confirmed that the Orange Line of the Riyadh Metro, also known as the Al Madinah Al Munawwarah Axis,...[By Nour Fakharany via archdaily.com]
|
|
|
| |
|
|
|
|
Severe flooding has hit Saudi Arabia, particularly in Mecca, Jeddah, and Madinah, after record-breaking rainfall caused widespread destruction. Torrential downpours have turned streets into rivers,...[via youtube.com]
|
|
|
| |
|
|
|
|
Saudi Arabia's foreign reserve assets declined by SAR 49.1 billion, or 3%, month-on-month (MoM) to SAR 1.63 trillion in December 2024, according to the Saudi Central...[via argaam.com]
|
|
|
| |
|
|
|
|
Technology giant Lenovo will further diversify its supply chain and plans to open more manufacturing facilities outside China amid global geopolitical uncertainty, Chairman...[via gulfbusiness.com]
|
|
|
| |
|
|
|
|
Oil producer Saudi Aramco and Algeria's Sonatrach lowered January's official selling prices (OSPs) for liquefied petroleum gas (LPG) by between 1.6% and 6% from...[via yahoo.com]
|
|
|
| |
|
|
|
|
Saudi Arabia has borrowed $7bn through Islamic loans as it looks to shore up financing to press ahead with costly mega-projects designed to diversify...[via middleeasteye.net]
|
|
|
| |
|
|
|
|
Venture capital funding in the Middle East slumped in 2024, even as the number of deals increased, as investors shifted toward early-stage investments....[By Fahad Abuljadayel via bloomberg.com]
|
|
|
| |
|
|
|
|
The Ministry of Investment is the primary authority guiding and regulating investments in Saudi Arabia. It facilitates investment licenses and provides comprehensive information...[By Mohammed Al-Othman via saudigazette.com]
|
|
|
| |
|
|
|
|
According to a survey conducted by Okaz newspaper, among these domestic workers, the number of women who joined the labor market as maids and house...[via saudigazette.com]
|
|
|
| |
|
|
|
|
Brazilian superstar Neymar said that Saudi Arabia “surprised” him in a “positive way,” after moving to the Kingdom to join the ranks of Al Hilal, echoing...[By Ghinwa Obeid via alarabiya.net]
|
|
|
| |
|
|
|
|
Donald Trump’s resort near Miami will host the Saudi-backed LIV Golf tournament in April, according to a schedule posted Tuesday — a signal that the...[By Annie Massa via yahoo.com]
|
|
|
| |
|
|
|
|
The potential investment in TKO follows a Saudi Arabian effort in June to create a multibillion-dollar boxing league that would aim to...[By Tariq Panja and Kevin Draper via nytimes.com]
|
|
|
| |
|
|
|
|
Populous is believed to be leading on a 46,000-capacity stadium for the Saudi Arabia 2034 World Cup, to be built inside 170km-long linear city...[By Gino Spocchia via architectsjournal.co]
|
|
|
| |
|
|
|
|
The project, owned by Hafr Al-Batin Cooperative Association for Livestock and Marketing, will be located in Hafr Al-Batin Governorate, spanning an area of 11 million square meters. The...[via argaam.com]
|
|
|
| |
|
|
|
|
King Salman and Crown Prince Mohammed bin Salman expressed their condolences in separate messages to Chinese President Xi Jinping regarding the victims of the earthquake...[via arabnews.com]
|
|
|
| |
|
|
|
|
Federal Express Corporation (FedEx), the world’s largest express transportation company, has launched FedEx® International Connect Plus (FICP) in the United Arab Emirates (UAE) and Kingdom...[via fedex.com]
|
|
|
| |
|
|
|
|
|
|
U.S. and Arab mediators have made some progress in their efforts to reach a ceasefire accord between...[By Nidal Al-Mughrabi via reuters.com]
|
|
|
| |
|
|
|
|
|
Lebanon’s parliament voted Thursday to elect the country’s army commander, Joseph Aoun, as head of state, filling a more than two-year-long presidential vacuum. The vote came...[By Sally Abou Aljoud and Abby Sewell via apnews.com]
|
|
|
| |
|
|
|
|
|
The administration of United States President Joe Biden has said it is taking a wait-and-see approach to the fledgling government in Syria, with diplomats in...[By Joseph Stepansky via aljazeera.com]
|
|
|
| |
|
|
|
|
|
The beginning of 2025 marked the end of the “Year of the Egyptian-Chinese Partnership” and closed out the “golden decade”: A ten-year period during...[By Jonathan Fulton via atlanticcouncil.org]
|
|
|
| |
|
|
|
