ITP.net
- Saudi PIF commits up to $160m to Gulf Infrastructure Fundon June 10, 2021 at 11:21 am
The Aberdeen Standard Investcorp Infrastructure Partners fund has received the pledge from the PIF along with another $90 million commitment from the Asian Infrastructure Investment Bank
- Aramco sells $6bn of dollar-denominated Islamic bondson June 10, 2021 at 10:11 am
Firm is raising cash to help finance its plans to pay out $75bn in dividends
- Aramco starts debut sale of dollar-denominated Islamic bondson June 10, 2021 at 4:59 am
State-controlled oil giant is raising cash to help finance its plans to pay out $75bn in dividends
- Behind the Saudi start-up using saltwater in agricultureon June 10, 2021 at 1:11 am
Red Sea Farms is bringing its technology and produce to the UAE after securing $10 million in venture capital investment; eyeing global expansion
- Saudi wealth fund appoints deputy governors to spur growthon June 8, 2021 at 11:47 am
Turqi Alnowaiser and Yazeed Alhumied will take on the new roles alongside their current responsibilities
- Saudi labour market start-up Marn closes first funding dealon June 8, 2021 at 10:32 am
Riyadh Angel Investors (RAI), Sukna Ventures and Vision Ventures are among the investors who have participated in this round
- Saudi fund agrees deal to create world's first electric powerboat racing competitionon June 7, 2021 at 2:08 pm
Public Investment Fund's deal with Electric Sea Racing Limited was revealed on Monday during a virtual launch event
- Saudi's Red Sea Farms raises $10m in venture capital investmenton June 7, 2021 at 12:14 pm
Funding in the AgTech business was led by Saudi and Emirati investors including Aramco's Wa'ed and Global Ventures
- Saudi wealth fund, early Alibaba investor back Jordanian start-upon June 7, 2021 at 9:36 am
The Saudi Jordanian Investment Fund, a $3 billion entity created by the Saudi wealth fund and a group of Jordanian banks, is backing OpenSooq along with existing investors iMENA Group and FJLabs
- Saudi Aramco hires banks for debut dollar Islamic bond saleon June 7, 2021 at 9:15 am
State-controlled company may offer three tranches of notes due in three years, five years and 10 years
Neom Saudi Arabia Mega City
NEOM is born from the ambition of Saudi Arabia’s Vision 2030 it is a $500 billion mega-city that will connect to Jordan and Egypt and be powered completely by renewable energy. In October 2017, Saudi Crown Prince Mohammed bin Salman announced the project, at the Future Investment Initiative conference in Riyadh. It will be financed by the by the Kingdom of Saudi Arabia, the Saudi Arabian Public Investment Fund, local as well as international investors.
The Neom Project a high-tech, transnational economic zone, with a mega-city 33 times the size of New York, located in the North East part of the country, bordering on Jordan and connected to Egypt through a bridge across the Gulf of Aqaba. The zone will cover 10,230-square-mile (26,500 sq km). It will target futuristic technologies NEOM will focus on nine specialized investment sectors (energy and water, mobility, biotech, food, technological & digital sciences, advanced manufacturing, media, entertainment and living as its foundation) along with luxury tourism. The focus on these sectors will stimulate economic growth and diversification by nurturing international innovation and manufacturing, to drive local industry, job creation, and GDP growth in the Kingdom. It will operate independently from the government, under a specific legal regime geared for a Western lifestyle and insulated from Islamic law. This project has a provisional budget of around 500 billion dollars. The Project Manager is a German, Klaus Kleinfeld, a former boss of the transnational Alcoa-Arconic and administrator of the Bilderberg Group. The first phase of the project is due in 2025.