Search Site

Trends banner

‘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.

UK and Saudi Arabia sign pact to promote direct investment

Saudi Arabia and the UK have signed a pact to promote direct investment. SPA.
  • British and Saudi companies will be established and expanded in both countries.
  • Exchange of visits and expertise as well as sharing of rules and regulations in direct investment opportunities part of the MoU

Saudi Arabia and the United Kingdom signed a Memorandum of Understanding, which is aimed at the promotion of direct investment between the two countries.
This includes establishing and expanding Saudi-based companies in the UK while also enabling the establishment and expansion of UK-based companies in Saudi.
The MoU is also directed at better coordination between the nations through an exchange of visits and expertise as well as exchanging of rules and regulations in direct investment opportunities.
Saudi’s investment minister Eng. Khalid Bin Abdulaziz Al-Falih and UK’s investment minister Lord Garry Grimstone signed the MoU on behalf of their countries at the Saudi-UK roundtable session.
The ministers also talked about potential methods for a more sustainable economy through the help of private and public sector institutions as well as Saudi’s commitment to touch net zero carbon by the end of 2060.