Saudi Arabia To Invest $3.4 Bln In Vaccine,Biomedical Drugs Sector

PARIS, France – Saudi Arabia’s industry and Mineral Resources said on Friday the country would invest $3.4 billion in the vaccine and biomedical drugs sector, according to state news agency SPA. The Minister Bandar Alkhorayef, who heads the newly – established vaccines and biopharmaceutical industry committee, said the move is part of the kingdom’s push … More Saudi Arabia To Invest $3.4 Bln In Vaccine,Biomedical Drugs Sector

Abu Dhabi’s Mubadala And EQT Fund To Buy Sweden’s Envirotainer

PARIS, France – Abu Dhabi state fund Mubadala and a fund managed by European buyout firm EQT have agreed to buy Envirotainer, a Swedish company which leases out cold containers for shipping temperature – sensitive healthcare products. Mubadala and the EQT X fund are buying the company from European buyout firm Cinven and Denmark life … More Abu Dhabi’s Mubadala And EQT Fund To Buy Sweden’s Envirotainer

Dubai Cooling Firm Empower Invited Banks To Pitch For IPO – Sources

DUBAI – Dubai’s Emirates Central Cooling System Cooperation (Empower) has invited investment banks to pitch for roles in its planned initial public offering, which is slated for later this years, two sources with direct knowledge of the matter said. Empower, which is part owned by Dubai Electricity and Water Authority (DEWA), has asked banks to … More Dubai Cooling Firm Empower Invited Banks To Pitch For IPO – Sources

Saudi Finance Minister Says No Immediate Plans To Transfer More Funds To PIF

DAVOS, SWITZERLAND – Saudi Arabia’s finance minister said on Monday there were no immediate plans to transfer more funds to the Public Investment Fund (PIF), the sovereign wealth fund at the centre of the kingdom’s plans to diversify its economy away from oil. The PIF manages over $600 billion in assets, a figure that has … More Saudi Finance Minister Says No Immediate Plans To Transfer More Funds To PIF

U.S. Approves Potential Sale Of Rocket Launchers To Bahrain – Pentagon

WASHINGTON – The U.S. State Department has approved the potential sale to Bahrain of M270 Multiple Launch Rocket Systems Upgrade and related equipment for an estimated cost of $176 million, the Pentagon said on Thursday. The principal contractor will be Lockheed Martin Corp, the Pentagon’s Defense Security Cooperation Agency said in a news release.

Invasion Could Worsen Food Crisis In The Middle East And North Africa, Says Human Rights Watch

PARIS, France – – The Russian invasion of Ukraine could worsen the food crisis in the Middle East and North Africa, the U.S. – based Human Rights Watch (HRW) warned in a statement Monday. ‘Both Ukraine and Russia are leading exports of agricultural products to many Middle Eastern and North African countries, and disruptions related … More Invasion Could Worsen Food Crisis In The Middle East And North Africa, Says Human Rights Watch

Twitter’s Restrictions On Russian State Media Have Successfully Limited Reach Of Content

PARIS, France – Twitter said Wednesday that its interventions against Russian state media have successfully limited the reach of that content, reducing it by 30% on the platform. The announcement follows Twitter’s effort late last month to curb users’ sharing of Russian state media content. At the time, Twitter said that users had been sharing … More Twitter’s Restrictions On Russian State Media Have Successfully Limited Reach Of Content

Seven Russian Banks Removed From SWIFT

PARIS, France – Seven Russian banks have been removed from the Society for Worldwide Interbank Financial Telecommunication (SWIFT), a messaging service that connects financial institutions around the world. In a statement Wednesday, SWIFT said ‘Diplomatic decisions taken by the European Union, in consultation with the United Kingdom, Canada and the United States, bring SWIFT into … More Seven Russian Banks Removed From SWIFT

Russian Oligarchs’ Yachts Head For Maldives As Sanctions Levied

PARIS, France – A growing number of superyachts belonging to Russian tycoons have made their way to the Indian Ocean, cruising around the Maldives and Seychelles just as sanctions are imposed on their homeland following Vladimir Putin’s invasion of Ukraine. The four biggest luxury yachts in the Maldives right now are Russian – owned, according … More Russian Oligarchs’ Yachts Head For Maldives As Sanctions Levied

SAUDI PIF Held Nearly $56 Bln Of U.S. – Listed Stocks In December 2021

PARIS, France – Saudi sovereign wealth fund PIF held nearly $56 billion worth of U.S. – listed stocks as of December last year, up from $43 billion at the end of September, boosted by the increased value of electric can maker Lucid, it said in a U.S. regulatory filing. The fund’s Lucid holdings were valued … More SAUDI PIF Held Nearly $56 Bln Of U.S. – Listed Stocks In December 2021