The PIF expects the investments to create 2,600 jobs and contribute SAR400m to GDP by the end of 2020
Latest official data showed the economy in recession during the second quarter
Klip allows the cashless spending, transfer and storage of money
The firm is eyeing businesses that “live around Aramco”
Residents were found to be avoiding retirement for financial and social reasons
The revisions will reduce requirements for obtaining a “management activity” licence
The downsizing will translate into a reduction of 15 to 20 per cent of the bank’s staff in retail services
On Friday FTSE said it would reevaluate Saudi’s emerging market index inclusion in March next year
Mubadala suffered a net loss of Dhs4.7bn in the first half of 2016
Wednesday’s issue was split into three tranches
The Middle East Venture Fund III will invest in early-stage and growth-stage tech companies
Saudi Arabia could issue up to $10bn, banking sources said
The funds will target annual returns of 6-7 per cent
The loan will be used to fund operational expenses and debt repayments
Atlas defaulted on loans in 2015 and its owner, M M Ramachandran, was sentenced to a three-year jail term
Riyadh started issuing domestic conventional bonds in 2015
The privately owned investment company has over $5bn of assets under management
Two winners will be selected and invited to demonstrate their solutions at the Global FinTech Hackcelerator in Singapore
The bank is carrying out a system enhancement during the end of the month
The aggregate gross consideration for the transaction amounted to $90m
The investment was made in exchange for an equity ownership in Wego
China’s inclusion in MSCI’s main indices can provide lessons for Saudi Arabia
The UAE Banks Federation is partnering with Anomali to create the Information Sharing and Analysis Center
One source said around 100 staff could be put on leave, while another said it might be as high as 200
Credit Agricole will remain a strategic shareholder in Banque Saudi Fransi
The Academy will form partnerships with business schools and universities to offer the courses
The authority also plans to introduce fees for investors when they enter and exit REITs
The organisation will select 10 finalists for its five-week start-up programme
Excise tax takes effect next month, while VAT will be implemented in January 2018
The round included $700,000 from Dubai-based venture capital firm Myrisoph Capital