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Better stock price performance Active investors growing On-the-ground research Emerging market investors are increasingly targeting Saudi Arabia’s smaller listed companies and initial public offerings, because of their better stock price performance versus their bigger peers. Since early 2020, foreign investors have been net buyers of almost $34 billion of Saudi Arabian equities, a report by the Dubai-based consultancy Iridium Advisors has revealed. Much of the inflow so far this decade has been from passive, index-tracking funds. But a growing chunk is by active investors who pick individual company stocks and are interested in IPOs, said Aqib Elahi Mehboob, head of…

UK finance minister Rachel Reeves said Sunday she plans to cut the costs of running government by 15 percent within four years, as she grapples with strained public finances. Her comments came ahead of her crucial Spring Statement on Wednesday when she is expected to detail billions of pounds of spending cuts across various government departments, AFP reported. “We are, by the end of this parliament, making a commitment that we will cut the costs of running government by 15 percent,” she told the BBC. The broadcaster reported that target would translate to annual savings of £2.2 billion ($2.8 billion)…

UK finance minister Rachel Reeves said Sunday she plans to cut the costs of running government by 15 percent within four years, as she grapples with strained public finances. Her comments came ahead of her crucial Spring Statement on Wednesday when she is expected to detail billions of pounds of spending cuts across various government departments, AFP reported. “We are, by the end of this parliament, making a commitment that we will cut the costs of running government by 15 percent,” she told the BBC. The broadcaster reported that target would translate to annual savings of £2.2 billion ($2.8 billion)…

Alamy via Reuters Umm Al Qura’s multi-billion Masar project in Mecca is one of the largest redevelopments in the region and is likely to attract a lot of investors when shares start trading IPO raised $523m 241 times oversubscribed Masar project appeal Shares in Saudi Arabia’s Umm Al Qura, which will start trading on the main stock exchange on Monday following an initial public offering, should attract “a lot of interest” from investors looking to capitalise on the real estate market in one of Islam’s holiest cities, analysts have said. The company, which is overseeing a mixed-use development in Mecca,…

Hislo, a cutting-edge social platform for exploring historical locations, proudly participated in the AlUla International Conference on Heritage Impact Assessment “Athr.” Focused on connecting people with heritage sites, Hislo showcased its revamped app at the conference, offering new features for an improved user experience.   In a significant move towards heritage conservation, Hislo forged a partnership with the Saudi Arabian National Committee of The International Council on Monuments and Sites “Saudi ICOMOS.” This collaboration aims to promote heritage conservation and raise awareness about historical sites in Saudi Arabia. With a mission to connect individuals with the history of heritage sites,…

Radisson Hotel Group proudly announces the opening of Vivid Jeddah Hotel, the first Radisson Individuals hotel in the Middle East, situated in the bustling city of Jeddah, Saudi Arabia. This launch reinforces the Group’s growing influence in the region, contributing to its portfolio of 43 hotels in operation and development in Saudi Arabia, including five in Jeddah.   Jeddah, known for its Red Sea coastline, historic Al-Balad with UNESCO heritage sites, Tahlia Street’s prime shopping, and notable events like the Saudi Arabian Grand Prix, now welcomes the unique experience offered by Vivid Jeddah Hotel. Strategically located in the prime Al…

The Saudi Retail Forum (SRF) 2023, organized by IMAGES RetailME, successfully concluded its first edition in Riyadh, Saudi Arabia, marking a significant milestone in shaping the future of the GCC region’s retail industry. The forum, held in Riyadh, served as a pivotal platform to honor and recognize key contributors to the retail sector, acknowledging their innovative initiatives that are shaping the landscape of the industry.   Bringing together entrepreneurs, industry leaders, innovators, and global retail giants, the SRF 2023 echoed the legacy of the Middle East Retail Forum (MRF), initiated 12 years ago in the UAE. The event aimed to…

The Jeddah Historic District Program is proudly taking part as a Gold Sponsor in the upcoming Second Saudi Tourism Forum 2024, scheduled from January 22-24 at the Riyadh International Convention & Exhibition Center. The forum, expected to draw over 400 entities from the tourism sector, is a platform for the program to promote Jeddah’s historical and cultural heritage as a prime tourist destination.   This will be the second appearance of the Jeddah Historic District Program at the forum, where it will actively contribute to the main symposium. The program will highlight its strategy for community development, focusing on initiatives…

China’s number two leader told a gathering of business executives in Beijing on Sunday that the country would pursue economic globalization despite “fragmentation”, a thinly veiled reference to trade turmoil sparked by US President Donald Trump. The China Development Forum convenes after weeks that have seen Trump slap multiple rounds of tariffs on goods from the country, threatening a vital lifeline as economic challenges persist. Chinese leaders have been seeking to steer a shaky economy onto a more stable path since the end of the pandemic, particularly by boosting consumption. They are also now seeking to assert the country’s role…

In a recent revelation during the 2024 Saudi Tourism Forum in Riyadh, Almosafer, Saudi Arabia’s premier travel company and part of the Seera Group, showcased the massive interest of Saudi travelers for the diverse tourism offerings within the Kingdom. The unveiling of the new domestic travel trends report not only presents the impressive gains for the domestic tourism sector in 2023 but also focuses on fascinating insights that are reshaping the travel landscape in Saudi Arabia.   The report, drawing from data insights gathered across Almosafer’s consumer platforms in 2023, highlights a major shift in Saudi travel preferences. Over 40%…