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Saudi Arabia
Sports
Saudi-backed LIV Golf is forcing the PGA to pay players fairly
In LIV’s first year, every tournament paid a purse of US$25 million, and even the last-place golfer was guaranteed to take home US$120,000.
December 16, 2024
Company in the news
Saudi Finance firm’s CEO dies days after trading debut
The listing marked the latest private sector IPO in the Middle East, following fresh on the heels of those including Delivery Hero’s Talabat and hypermarket operator Lulu Retail Holdings.
December 09, 2024
Global Economy
Saudi Arabia’s rating upgraded by Moody’s for the first time
The Moody’s rating is now above those of Fitch Ratings and S&P Global Ratings.
November 23, 2024
Banking & finance
Citi gets nod from Saudi Arabia for regional HQ in Riyadh
The Wall Street behemoth received the approval from the Ministry of Investment Saudi Arabia, according to a memo to staff.
November 22, 2024
M&A
Saudi Arabia bids to acquire Olam Agri unit at US$4 billion valuation (update)
Olam Group shares rose as much as 9.4% in Singapore on Friday, the biggest intra-day gain since Aug 13, before easing slightly.
November 01, 2024
Global Markets
Saudi Arabia upbeat on FDI as 2030 goal remains distant
Saudi Arabia recently announced an overhaul of its investment law in a bid to cut bureaucratic red tape and make it easier for foreign investors to deploy cash into the country.
October 30, 2024
Artificial Intelligence
Aramco’s venture arm allocates US$100 mil for AI investments
Saudi Arabia’s AI strategy is to spend this decade using data and AI to drive the economic diversification agenda known as Vision 2030 — and then start competing globally after 2030.
October 27, 2024
Company in the news
Saudi fund trims Nintendo stake after saying it wants more
The Saudi government has been buying up stakes in Japanese and South Korean gaming companies, part of a US$38 billion push to lower the kingdom’s reliance on oil.
October 08, 2024
Sovereign wealth funds
Saudi's Public Investment Fund outpaces GIC with US$31.6 billion splurge
'Gulf sovereign wealth funds have increased their domination of the global transaction activity'
January 01, 2024
Oil & Gas
Here's what Morgan Stanley to Goldman say about Saudi output cut
The cut may support prices in the short term, but the broad market dynamics remain practically unchanged: Morgan Stanley.
June 05, 2023