Arcapita closes $500m logistics fund in Saudi Arabia
Arcapita Capital Company, a subsidiary of Arcapita Group Holdings Limited, announced on Wednesday the closing of KSA Logistics Fund III for SAR1.8 billion ($500 million), with participation from a leading sovereign wealth fund from the GCC region and other major institutional investors. Arcapita has already deployed a substantial amount of the fund in a sizable […]
Saudi Cable Company to exit Turkish investments
In a major move, Saudi Cable Company has announced plans to exit its investments in Turkey following a review of its performance in the country as these companies did not achieve the desired returns during the past few years. The board’s decision comes within the framework of reviewing the company’s plans and business strategy and […]
Ericsson & Mobily sign network exposure MoU for Saudi enterprises
Ericsson and Etihad Etisalat (Mobily) have signed a Memorandum of Understanding (MoU) to expose Mobily’s network capabilities to enterprises and developers in Saudi Arabia. Under the MoU, signed at LEAP 2024, Riyadh, Kingdom of Saudi Arabia, Mobily will be able to easily activate new capabilities and expose them through Application Programmable Interfaces (APIs), boosting the […]
Saudi’s NDF & SDB to establish gaming-industry focused venture funds
The Saudi National Development Fund (NDF), in collaboration with the Social Development Bank (SDB), has signed two agreements to establish two venture funds with a total size of $120 million, in an innovative move to bolster the gaming and Esports industry within the Kingdom of Saudi Arabia. The announcement was made during the LEAP 2024 […]
Tech investments approach $13bn on Day 2 at LEAP 2024
LEAP 2024, among one of the world’s most attended technology exhibitions, continued its momentum by announcing a new wave of investments exceeding $888m on its second day, further bolstering Saudi Arabia’s burgeoning tech ecosystem. This announcement comes hot on the heels of Monday’s staggering revelation of $11.9bn in investments. The Riyadh Exhibition and Convention Centre […]
Saudi Arabia’s PIF, Bahrain Mumtalakat to boost cooperation, investment
The sovereign wealth funds of Saudi Arabia and Bahrain have signed an MoU to boost cooperation and investment in strategic sectors. The agreement aims to expand cooperation between the two parties and enable new and promising investment opportunities in Bahrain, the Public Investment Fund (PIF) and Mumtalakat said in a joint statement. PIF said the […]