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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

KSA, Egypt ink draft pact for PIF investment in Egypt

Saudi Arabia and Egypt had signed a draft agreement for Public Investment Funds in Egypt.
By TRENDS Desk
March 17, 2022 2:48 pm
  • The two sides stressed that this agreement based on the close historical ties that unite Saudi Arabia and the Arab Republic of Egypt
  • With this agreement, the two countries will have easy access to procedures for investing in Egypt through fund public investments

Saudi Arabia and Egypt on Wednesday signed an agreement for the investment by the Public Investment Fund, the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of at least $500 billion.

The agreement was signed by Saudi Minister of State and Cabinet’s Member for Shura Council Affairs Dr Essam bin Saad bin Saeed and the Egyptian Minister of Planning and Economic Development. in the presence of the Egyptian Prime Minister Dr. Mostafa Madbouly.

The two sides stressed that this agreement based on the close historical ties that unite Saudi Arabia and the Arab Republic of Egypt as well as on directives of the leadership of the two countries to strengthen cooperation.  The agreement would provide the two countries with easy access to procedures related to investment in Egypt through a fund public investments.

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