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Saudi tankers deal Bahri

Saudi shipping company signs $1bn tankers deal

National Shipping Company of Saudi Arabia (Bahri) has announced a SAR3.75 billion ($1 billion) deal to buy nine tankers from Greek company Capital Maritime and Trading Corporation. The very large crude carriers (VLCCs) will be used by Bahri to deliver crude cargoes for its customers. VLCCs are a crucial part of the global maritime logistics […]

Saudi holdings of US treasuries rose by $4 billion to take advantage of US interest rates

Saudi forex assets fall but US Treasury holdings rise

Saudi Arabia’s net foreign assets fell by $15.2 billion month on month in July, but the kingdom’s US Treasuries holdings shot up by another $4 billion in June, new data showed this week.  The Saudi central bank’s net foreign assets decreased from SAR1.67 trillion ($445.3 bn) in June to SAR1.613 trillion in July, preliminary data […]

As part of a "capex super-cycle" up to 2030, Saudi Arabia is set to invest $235 billion in renewables

Saudi capex expected to shift focus to renewables

Saudi Arabia is predicted to drastically scale back its capital expenditure in fossil fuels, allocating less than a quarter of its $1 trillion planned investment to oil.  Goldman Sachs Research expects capex in the oil sector to decline by $40 billion between 2024 and 2028, as the kingdom pivots towards renewable energy and economic diversification. […]

USA fans cheer during a Concacaf Nations League match. The country will co-host the 2026 Fifa World Cup with two other Concacaf members, Canada and Mexico

Saudi Arabia adds soccer in North America to sports portfolio

Saudi Arabia has added the Confederation of North, Central America and Caribbean Association Football (Concacaf) to its squad of sporting investments. The kingdom’s sovereign wealth fund has partnered with the regional governing body for soccer “to support the growth of the sport at all levels”. The Public Investment Fund will sponsor football development initiatives, with […]

The Saudi PIF phase IV Haden photovoltaic project is expected to commence commercial operations by early 2027

China wins $972m contract for new Saudi solar plant

A Chinese state-backed consortium has won a $972 million engineering, procurement and construction (EPC) contract to build a two-gigawatt (GW) solar project near Mecca in Saudi Arabia. The Saudi PIF phase IV Haden photovoltaic project is being developed by Buraiq Renewable Energy Company, a joint venture between Acwa Power, the Public Investment Fund and Saudi […]

Gulf companies returned an average dividend yield of 3.5% and the majority to declare returns for Q2 have been Saudi

Saudi blue-chips help Gulf dividends dwarf global average

Saudi companies form the bulk of Gulf businesses that have announced second quarter dividends, but it is the Commercial Bank of Kuwait that provided the highest dividend yield. Saudi Aramco, Bahrain’s Batelco and Dubai’s Tecom Group are other standouts by this metric.  Of the listed Gulf companies with a market capitalisation of more than $1 […]

Researchers at Kaust's Polymer Synthesis Laboratory. Saudi Aramco and the university are investing $100m in R&D

Saudi Aramco and Kaust to invest $100m in R&D

Saudi Aramco, the world’s largest oil producer, and King Abdullah University of Science and Technology (Kaust) are to invest $100 million in research and development projects.  The 10-year investment will support projects focused on energy transition, sustainability, materials innovation, upstream technologies and digital solutions, aiming for both environmental and commercial benefits.  NewsletterGet the Best of […]

South Korea's SGC will construct an ethylene-vinyl acetate plant in Saudi Arabia's Jubail Industrial City

Sipchem to build new $189m Saudi petchem facility

Saudi International Petrochemical Company (Sipchem) has awarded a $189 million contract to a South Korean contractor to build a new petrochemicals facility in Saudi Arabia. The project was won by SGC Engineering & Construction, an engineering, procurement and construction contractor, The Korean Economic Daily, a financial news outlet, reported. The deal involves the construction of […]

Analysts expect Aramco shares to recover in line with oil prices

Analysts bullish on Aramco despite share price drop

Shares in Saudi Aramco slumped to a four-year low this week as turmoil on global equity markets spurred a further sell-off in the world’s largest listed oil company. Yet analysts believe Aramco’s poor performance this year – the stock had fallen 17 percent in 2024 as of Tuesday’s close – masks a bullish outlook for […]

bids Saudi football teams

Investor bids invited for six Saudi football teams

Saudi Arabia this week opened bids for six football teams as part of its new drive to monetise the kingdom’s sport sector and raise its foreign direct investment numbers.  Local and international investors are invited to bid for Al-Okhdood, Al-Orouba and Al-Kholoud – all in Saudi Arabia’s top Pro League – as well as Al-Zulfi, […]