Saudi Arabia’s PIF hopes to raise $3.10 billion through sales of 5.01 percent stake of Saudi Telecom Co.

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) is selling a 5.01 percent stake–amounting to 100.2 million shares–in Saudi Telecom Co. in a secondary share offering, Zawya reports. The final offer price will be announced on December 10, Read more

US-based BlackRock mulls plans to increase investment in Egypt

New York-headquartered multinational investment Management Corporation is considering to hike its investment in Egypt after it launched a $673 million climate-focused infrastructure fund, Reuters reports. The Arab republic, David Giordano, global head of renewable power at BlackRock Alternative Investors has Read more

Kuwait mulls plans to allow expats to fully own businesses in move to attract investment

Kuwait may allow foreigners full ownership of companies in a push to attract more investments and boost the economy, Zawya reports. The plans according to Abdullah Al-Sabah, deputy director general for investment operations at Kuwait’s Direct Investment Promotion Authority, aim Read more