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Banking / Investment in Saudi Arabia

  • Saudi billionaire to invest $800 million in Egypt tourism

    EGYPT, 2017/09/02 Saudi Arabian billionaire Prince Alwaleed bin Talal is to invest additional than $800 million in hotels in Egypt, the investment ministry in Cairo said on Monday. The announcement came next parliament in May adopted a new law aimed at attracting foreign investment as the authorities seek to reinvigorate the North African country's struggling economy.

  • Cairo, Riyadh to sign 12 investment deals on Jan. 5

    EGYPT, 2016/01/02 Egypt and Saudi Arabia will sign 12 memorandums for Saudi investments in Cairo as a joint committee by both nations convenes in Riyadh on January 5, according to an Egyptian government official. The committee’s conference will be chaired by Egypt’s Prime Minister Sherif Ismail and Saudi Deputy Crown Prince Mohamed bin Salman along with a number of ministers from both governments.

  • Saudi investment firm Jadwa eyes real estate push

    SAUDI ARABIA, 2014/11/19 Saudi Arabia's Jadwa Investment , one of the country's major privately owned investment firms, says it is planning to invest in domestic real estate as it expands into new investment classes, hoping to cash in on booming request for new homes. Supply of housing in Saudi Arabia lags strong request, the result of rapid people increase and slow evolution in government building programmes designed to relieve the shortage. Tariq al-Sudairy, managing director and chief executive officer of Jadwa, said the group will focus on the investment class and target major cities like Riyadh, Makkah and Madinah.

  • Saudi Arabia has a strong interest in Greek privatizations

    GREECE, 2014/02/25 Saudi Arabia has a strong interest in Greek privatizations and is looking forward to closer cooperation with Athens on energy issues through new synergies: this interest, as daily Kathimerini reports, was made clear during a Friday conference in Athens between Energy Minister Yiannis Maniatis and members of the Saudi parliamentary committee on friendship with Greece. In the presence of Costas Mathioudakis, Greece's general secretary for energy, and Saudi Ambassador in Athens Rayed Khalid A. Krimly, the conference confirmed the warm ties between the two nations and the prospects for new agreements that could be mutually beneficial.

  • Saudi Arabia to Loan Djibouti U.S. $5 Million for Business Development

    DJIBOUTI CITY, 2013/09/09 Representatives from the Djiboutian government and the Saudi Fund for Development on Thursday (September 19th) signed a nearly $5-million (898-million franc) loan agreement to support Djiboutian economic development, the Djiboutian Data Agency reported. The agreement, signed by Djiboutian Minister of Economy and Industrial Finance Ilyas Moussa Dawaleh and Yousef Bin Ibrahim al-Bassam, vice president of the Saudi Fund for Development, is intended to finance a number of projects in areas such as agriculture, fishing, transport and trade. The agreement is as well intended to diversify the national economy by funding small and medium enterprises and creating 2,400 jobs for Djiboutian graduates. A significant proportion of the funding has been reserved for women.

  • Deposits at Saudi banks reach SR1.3 trillion

    SAUDI ARABIA, 2013/07/20 Deposits in the Saudi economy reached SR1.3 trillion by the end of May, adding SR70.5 billion YTD. Increase in the depositary base continues to provide opportunities to expand the financing capabilities of the banking system, according to a statement by the National Commercial Bank (NCB). The major portion of deposits are in the form of request deposits, of which only 8.5 % are contributed by government entities. Given businesses and individuals' varying need for the majority liquid type of deposits, their request, time and savings, and foreign currency deposits are distributed at 74.1 %, 17.5 %, and 8.3 %, respectively during May.

  • Tunisia $1.2 billion in funding from IDB

    SAUDI ARABIA, 2013/07/09 The IDB funding line will include loans and grants, the Tunisian prime minister's office said in a statement on Friday. The funding line will be for three years, with disbursements of $400 million each year until 2015. The North African country, which has as well signed a $1.7 billion standby-loan agreement with the International Monetary fund (IMF), is struggling with rising inflation, a large external deficit and an uncertain political outlook.  Tunisia has won $1.2 billion in funding from the Saudi-based Islamic Development Bank (IDB), aimed at backing industrial, agricultural and trade projects in the country whose finances have been weak since a revolution two years ago.

  • Tunisia $1.2 billion in funding from IDB

    SAUDI ARABIA, 2013/07/09 The IDB funding line will include loans and grants, the Tunisian prime minister's office said in a statement on Friday. The funding line will be for three years, with disbursements of $400 million each year until 2015. The North African country, which has as well signed a $1.7 billion standby-loan agreement with the International Monetary fund (IMF), is struggling with rising inflation, a large external deficit and an uncertain political outlook.  Tunisia has won $1.2 billion in funding from the Saudi-based Islamic Development Bank (IDB), aimed at backing industrial, agricultural and trade projects in the country whose finances have been weak since a revolution two years ago.

  • Saudi Arabia reports 73% decline in bounced checks

    SAUDI ARABIA, 2013/05/26 Saudi Arabia has seen a 73 % drop in the number of bounced checks since 2009, following the start of a government campaign aimed at consumers and businesses. The decline in the total price of bounced checks was even better, falling to SR3.8 billion in 2012 from SR15bn in 2009, marking a decrease of 74.6 %, according to a statement by the Saudi Credit Bureau (SIMAH).

  • Saudi Banks Reduce their Net Interest Margin

    SAUDI ARABIA, 2013/03/24 Saudi banks reduced their net interest margin due to the increased competition in the Arabian kingdom. As a result, analysts expect lower profit increase that is as well due to lower brokerage incomes.
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