Tag: Saudi Arabia
Islamic funds’ assets under management fall on rate rises
The decline was driven by investor outflow mainly due to rising interest rates and financial market volatility.
Saudi Arabia reportedly suspends talks to acquire Egypt’s United Bank
Saudi Arabia has reportedly shelved a plan by its sovereign wealth fund to acquire the United Bank of Egypt as talks with Egyptian authorities...
UAE’s ADNOC Distribution completes acquisition of 50% stake in TotalEnergies Egypt
UAE’s ADNOC Distribution said Wednesday that it has completed the acquisition of a 50% stake in TotalEnergies Marketing Egypt for approximately $186 million (EGP...
Saudi Arabia’s Hassana to invest $2.4 billion in DP World’s UAE assets
Dubai’s DP World said Wednesday that Saudi Arabia’s Hassana Investment Company (Hassana) has agreed to invest $2.4 billion in the global ports operator’s three...
Saudi wealth fund PIF reportedly plans to acquire Egypt’s United Bank for $600 million
Saudi Arabia’s Public Investment Fund (PIF) is reportedly in advanced talks to acquire Egypt’s United Bank in a deal that could value the state-owned...
Saudi wealth fund PIF, BlackRock to jointly explore MENA infrastructure investments
Saudi Arabia’s Public Investment Fund (PIF) signed a non-binding MoU with BlackRock on Monday to jointly explore infrastructure projects in the Middle East, with...
Egypt’s net foreign reserves rise slightly to $33.4 billion in October
Egypt’s net foreign reserves increased slightly for the second month in a row last month as the North African country awaits the increase in...
Qatar set to invest $2.5 billion in Egyptian companies, says report
Qatar is reportedly in advanced talks to acquire as much as $2.5 billion of state-held stakes in Vodafone Egypt, the country’s biggest mobile network...
Anchorage Investments shortlists 4 international contractors for $2 billion petrochemicals project
Egypt’s Anchorage Investments, which develops and operates industrial projects in the petrochemicals sectors, said Tuesday that it has shortlisted four international contractors in the...
Saudi wealth fund-backed Egyptian investment firm invests $1.3 billion in four firms
Egypt’s planning ministry said Wednesday that the Saudi Egyptian Investment Company (SEIC), which is owned by the Public Investment Fund (PIF), has acquired minority...