Saudi Crown Prince to Launch $425 Billion Infrastructure Plan - Bloomberg:
Saudi Arabia is seeking 1.6 trillion riyals ($425 billion) in investment by 2030 for infrastructure as well as energy, mining and other industrial projects, as part of an effort to cut its reliance on oil, Energy Minister Khalid Al-Falih said Saturday in Riyadh.
Crown Prince Mohammed bin Salman, who is behind reforms known as Vision 2030, will present details of the infrastructure plan on Monday. The kingdom could sign about 70 deals worth more than 200 billion riyals at the same time.
Saudi Arabia is among nations in the Middle East working to diversify government income away from oil sales and build new industries. The kingdom will focus on chemicals, power and natural gas businesses in its industry plan, Al-Falih said.
Saturday, 26 January 2019
Deutsche Bank Gets #Qatari Commitment For More Funds - Bloomberg
Deutsche Bank Gets Qatari Commitment For More Funds - Bloomberg:
Deutsche Bank AG has secured a commitment for additional investment from Qatar as the bank seeks to bolster its finances, according to people with knowledge of the matter.
The investment is likely to be made through the Qatar Investment Authority, the country’s sovereign wealth fund, the people said, asking not to be identified because the talks are private. Two other Qatari investment vehicles, controlled by members of the royal family and other prominent politicians, already own a stake in the troubled German lender.
While the discussions are at an advanced stage, no final agreement has been reached, said the people. The timing and the size of the investment aren’t clear.
Deutsche Bank AG has secured a commitment for additional investment from Qatar as the bank seeks to bolster its finances, according to people with knowledge of the matter.
The investment is likely to be made through the Qatar Investment Authority, the country’s sovereign wealth fund, the people said, asking not to be identified because the talks are private. Two other Qatari investment vehicles, controlled by members of the royal family and other prominent politicians, already own a stake in the troubled German lender.
While the discussions are at an advanced stage, no final agreement has been reached, said the people. The timing and the size of the investment aren’t clear.
Etihad hires turnaround expert Alvarez & Marsal as it weighs Jet Airways bailout | ZAWYA MENA Edition
Etihad hires turnaround expert Alvarez & Marsal as it weighs Jet Airways bailout | ZAWYA MENA Edition:
Etihad Airways has appointed turnaround specialist Alvarez & Marsal to conduct due diligence on Jet Airways Ltd as it weighs bailing out the cash-strapped Indian carrier, three sources familiar with the matter told Reuters.
Executives from Alvarez & Marsal are camped in Jet Airways’ offices in Mumbai and are taking stock of the airline’s operations and looking into its financial health and records, one of the sources said.
The Abu Dhabi-based carrier plans to raise its stake in Jet Airways from the current 24 percent but it wants the airline’s founder and chairman Naresh Goyal to give up control, sources have told Reuters.
Etihad Airways has appointed turnaround specialist Alvarez & Marsal to conduct due diligence on Jet Airways Ltd as it weighs bailing out the cash-strapped Indian carrier, three sources familiar with the matter told Reuters.
Executives from Alvarez & Marsal are camped in Jet Airways’ offices in Mumbai and are taking stock of the airline’s operations and looking into its financial health and records, one of the sources said.
The Abu Dhabi-based carrier plans to raise its stake in Jet Airways from the current 24 percent but it wants the airline’s founder and chairman Naresh Goyal to give up control, sources have told Reuters.
#Saudi Tadawul to be ready for IPO by end-2020 – Chairperson | ZAWYA MENA Edition
Saudi Tadawul to be ready for IPO by end-2020 – Chairperson | ZAWYA MENA Edition:
Saudi Arabia’s plan to list the Saudi Stock Exchange (Tadawul) for initial public offering (IPO) is not cancelled, regardless of the entry of foreign investors, Tadawul’s chairperson said.
Tadawul still awaits the completion of the listing procedures, Sarah Al Suhaimi added on the sidelines of the World Economic Forum (WEF) in Davos on Thursday. Al Suhaimi expected the completion of these procedures by the end of 2020 in order to take a decision regarding the IPO when it is ready.
Saudi Arabia’s plan to list the Saudi Stock Exchange (Tadawul) for initial public offering (IPO) is not cancelled, regardless of the entry of foreign investors, Tadawul’s chairperson said.
Tadawul still awaits the completion of the listing procedures, Sarah Al Suhaimi added on the sidelines of the World Economic Forum (WEF) in Davos on Thursday. Al Suhaimi expected the completion of these procedures by the end of 2020 in order to take a decision regarding the IPO when it is ready.
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