Middle Eastern SWFs eye Europe, US for cheap assets
The region's SWFs more than doubled their investments in Western economies to $51.6 billion in 2022 from $21.8 billion a...
Business
UAE, KSA bourses to stay range-bound until 2022-end
The volatility in oil prices will affect the markets. If there is a higher-than-expected decline, the markets may feel the...
Market Report
Business
KSA eyes economic diversification with PIF-KHC deal
Public Investment Fund’s stake purchase in Kingdom Holding is part of the Saudi Arabia’s Vision 2030, Arun Leslie John, Chief...
- Kingdom Holding Company recently signed an agreement with the Public Investment Fund to sell 625 million shares, representing 16.87% of the company’s share capital
- The PIF, which manages over $600 billion in assets, is at the center of Mohammed bin Salman’s ambitious agenda to diversify the Saudi economy away from oil
Economy
Soaring food prices stoke inflation worries for KSA
Saudi Arabia may see a rise in inflation as global food and energy prices surge amidst the ongoing Russia-Ukraine war,...
- Inflation will continue to rise in the kingdom, exceeding 3 percent by year-end, Alexander Perjessy, Vice-President, Senior Analyst, Moody’s Investors Service, tells TRENDS
- The Kingdom’s annual inflation reached 2.3 percent in April 2022, up from 2 percent in March 2022, according to the latest data released by the General Authority for Statistics
Business
Digital banks set to flourish in Saudi Arabia, UAE
Ongoing loan restructurings and the gradual withdrawal of pandemic-related support packages may put further pressure on asset quality. However, the...
- In November 2021, Saudi Central Bank (SAMA) Governor Fahd Al-Mubarak reportedly said that the Kingdom is going to license more digital banks.
- UAE’s Emirates NBD, Mashreq and Commercial Bank of Dubai were among the first to offer digital-only services.
Business
Alwaleed blinks as Musk buys Twitter
Prince Alwaleed is one of the wealthiest businessmen in the Middle East, but Elon Musk is the richest person in...
- Last week, KHC Chairman and Twitter shareholder Prince Alwaleed rejected Elon Musk's bid to acquire Twitter Inc for $54.20 per share
- Alwaleed had stated that the deal proposed by Musk did not ‘come close to the intrinsic value’ of the popular social media platform
Analysis
Global projects to fuel Aramco 2022 growth
The Saudi Arabian Oil Company has outlined a clear strategy to continue to invest in both upstream and downstream segments,...
- In March, Saudi Aramco said its net income increased 124 percent to $110 billion in 2021, compared to $49 billion in 2020
- This was the result of higher oil prices, stronger refining and chemicals margins, and SABIC’s consolidation of full-year results
Business
SABIC eyes eight mega projects worth $2.7bn
The Saudi firm says it seeks to capitalize on opportunities through innovative and sustainable solutions, focusing on petrochemical products in...
- The Saudi firm seeks to capitalize on opportunities through innovative and sustainable solutions, focusing on petrochemical products.
- Gulf Coast Growth Ventures, SABIC's joint venture with ExxonMobil in southeast Texas, is also likely to begin operation in 2022.
Middle Eastern SWFs eye Europe, US for cheap assets
The region's SWFs more than doubled their investments in Western economies to $51.6 billion in 2022 from $21.8 billion a...
Business
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Latest News
UAE, KSA bourses to stay range-bound until 2022-end
Market Report
Digital banks set to flourish in Saudi Arabia, UAE
Ongoing loan restructurings and the gradual withdrawal of pandemic-related support packages may put further pressure on asset quality. However, the...
Business
Alwaleed blinks as Musk buys Twitter
Prince Alwaleed is one of the wealthiest businessmen in the Middle East, but Elon Musk is the richest person in...
Business
Global projects to fuel Aramco 2022 growth
The Saudi Arabian Oil Company has outlined a clear strategy to continue to invest in both upstream and downstream segments,...