Author: admin

The Saudi Shura Council has called on the Public Transport Authority to coordinate with relevant agencies to study the establishment of metro systems in the Kingdom’s major cities and urban centers. The recommendation came during the Council’s regular session, held on Tuesday and chaired by Deputy Speaker Dr. Mishaal bin Fahm Al-Sulami. In a formal resolution, the Council urged the Public Transport Authority to expand and diversify the number of logistics training programs offered by the Saudi Logistics Academy to better meet sector needs. It also called for the Authority, in coordination with concerned entities, to review and improve the…

Britain’s annual inflation rate surged more than expected in April as energy and water bills rose sharply, official data showed on Wednesday. The Consumer Prices Index soared to 3.5 percent last month, up from 2.6 percent in March, the Office for National Statistics said in a statement. Analysts’ consensus forecast had been for a jump to 3.3 percent, AFP reported. At 3.5 percent, the headline rate was the highest since the beginning of 2024, the ONS noted. “I am disappointed with these figures because I know cost of living pressures are still weighing down on working people,” finance minister Rachel…

AWJ Investment, a subsidiary of AWJ Holding, announced the acquisition of a 40% stake in Oud Real Estate. This strategic partnership is set to drive the development of branded residential, commercial, and hospitality projects, with projected investments exceeding SR8 billion over the next five years.This collaboration combines AWJ’s financial expertise with Oud’s innovative approach to creating lifestyle destinations that celebrate Saudi heritage. Since its establishment in 2016, Oud Real Estate has earned acclaim for its culturally infused, design-forward developments that reflect the evolving urban landscape of Saudi Arabia.Abdulaziz Al-Mousa, CEO of AWJ Holding, remarked on the significance of this partnership…

The European Union (EU) has got clearance to disburse €4 billion ($4.2 billion) in financial aid to Egypt to support its economic growth. “The representatives from parliament and the Polish presidency of the council have secured a provisional agreement on providing Egypt with macro-financial assistance,” the EU said in a statement. Egypt will have 35 years to repay the loans. A short-term loan of up to €1 billion was disbursed at the end of 2024. The release of the funds will be subject to Egypt’s implementation of the International Monetary Fund (IMF) programme and other policy measures to be agreed…

QIA pledges $500bn over decade Stakes in 90 US companies Fund to buy ‘more than double’ Qatar’s $526 billion sovereign wealth fund intends to more than double the value of its investments in the US, CEO Mohammed Al-Sowaidi said this week. At a conference in the Qatari capital, Doha, Al Sowaidi said the Qatar Investment Authority (QIA) will be “probably buying more than double what we’ve been doing for the past five to six years,” Bloomberg and Reuters reported. The investments are expected to happen over several years. Al-Sowaidi was speaking the week after President Donald Trump concluded a four-day…

Iraqi Kurdistan announced deals worth $110 billion over their lifetime with US firms HKN Energy and WesternZagros on Tuesday, drawing swift opposition from Baghdad’s oil ministry which deemed them “null and void”. Prime Minister Masrour Barzani announced the deals in a speech in Washington, a day after they were flagged by an adviser on social media. “The regional government is fully committed to developing the energy sector, especially as our reforms represent a significant step towards securing round-the-clock electricity supplies for all residents …We also hope to contribute to providing electricity to other areas in Iraq,” Barzani said, according to…

Japan contributed half of FDI Second-largest LNG customer Total FDI topped $2.7bn in 2024 Japan was the top international investor in Qatar last year, contributing half of its foreign direct investment, official data published this week shows. Tokyo contributed almost $1.4 billion of Qatar’s total FDI in 2024, according to Invest Qatar’s 2024 report. Japan is the world’s second largest importer of liquefied natural gas and Qatar’s second biggest customer for LNG. Qatar received more than $2.7 billion across 241 FDI projects last year, according to a foreword by Sheikh Faisal bin Thani bin Faisal Al Thani, the minister of…

Assets’ value up 21% on 2023 1.7m investors and 1,500 funds 40 IPOs on Tadawul last year The value of assets under management in Saudi capital markets surpassed SAR1 trillion for the first time last year. Their value was 21 percent higher than in 2023, according to the Capital Markets Authority’s annual report. It brings Saudi Arabia closer to achieving its Vision 2030 ambitions for the financial sector. Total assets under management increased to SAR1.01 trillion ($270 billion) in 2024, while the number of investment funds rose from 1,285 in 2023 to 1,549 last year.  The number of investors —…

Five state IPOs since 2023 5% weight on frontier market index Emerging market status takes time Oman’s listing of several government companies on Muscat’s bourse has probably done little to boost the sultanate’s hopes of achieving emerging market status – for now at least.  Five state companies have gone public since 2023, raising almost $4 billion in total.  Their relatively poor post-listing performance, however, has soured investor sentiment and made further initial public offerings unlikely this year. Oman had hoped that the flotations would lead equity index compilers MSCI and FTSE Russell to award the country emerging market status.  That…

The Saudi Ministry of Industry and Mineral Resources announced on Tuesday the launch of the Women in Mining Association, a newly established non-profit organization dedicated to empowering Saudi women in the mining sector and enhancing their contribution to the sector’s ongoing transformation. The initiative reflects the ministry’s commitment to fostering the growth of non-profit organizations within the industrial and mining sectors, in recognition of their vital role supporting the Kingdom’s economic and social development. The association will develop women’s capabilities and equip them with advanced, sector-aligned skills. It aims to create a more diverse and inclusive work environment while enabling…