Showing posts with label Saudi Banks. Show all posts
Showing posts with label Saudi Banks. Show all posts

Friday, June 7, 2019

Saudi Arabia offer land for sports investments

Saudi Arabia launches land for investment in sports sector

The Ministry of Education in Saudi Arabia has tended to offer a number of sports complexes, whether old or existing, in a number of Saudi cities to leasing to the private sector during the coming period
The ministry explained that the development of buildings is responsible for the investment portfolio, where the sports land is determined to invest by offering to rent to the private sector and develop them and convert them to facilities with better use instead of the current situation, according to the newspaper.

The Saudi Ministry of Education aims to rent its lands for investment in sport

The plan is the second investment plan undertaken by the Saudi Ministry of Education following the presentation of its buildings in excess of the need for leasing to investors in the field of private education in order to strengthen relations and the participation of investors in the public education sector in the Kingdom.

The Ministry has sought to launch the project to rent its land in excess of its need in some cities in which a number of public schools have a number of investors in order to encourage and support businessmen to invest in the public education sector and access to educational buildings with high quality specifications that contribute to achieving qualitative and quantitative change Desired for this sector.

The move coincides with the adoption by the Ministry of Education of the design of public school designs in the Saudi capital Riyadh. A new strategy has been developed by BDC to become the first choice for investors in the field of foreign and private schools.

The service seeks to provide integrated services, modern technologies and high quality solutions that meet the aspirations and needs of its customers, enhance flexibility, achieve integration and establish its leading position in linking services between investors and all parties in accordance with the basic standards.
This service aims to achieve the ideal value for investors and high efficiency and establish its leading role in achieving social and economic development and achieve an attractive work culture and successful results in a short period of time.

The ministry explained that it has created a new unit whose task is to manage a plan that implements the terms of the resolution and adopts designs, restricting and gathering information and evidence through the integrated portal on its website, and setting up workshops in coordination with the committee of private education in the Council of Saudi Chambers and the competent authorities in the ministry to identify the requirements and identify the challenges Faced with the aim of beginning to develop design standards for the construction of educational buildings for all educational stages.

The Ministry has prepared a manual to clarify the minimum standards for the design of buildings of foreign and domestic education schools and the procedures required for their adoption, organization and facilitation of service to investors in the foreign and national education sector. It also defines the mechanism of approving the designs of educational buildings such as the standards of educational spaces, student space and services that help increase the efficiency of buildings in achieving their function And the speed of the process of auditing and accreditation of high quality to support the investor and achieve the goal of the vision of the Kingdom 2030 is to raise the quality and efficiency of education in Saudi Arabia.

It is worth mentioning that the Saudi Ministry of Education has put about 115 land owned by investors in the field of private education sector and foreign in 16 cities in the Kingdom of these cities, Jeddah, Medina, Abha, Makkah, Jizan, Ahsa, Hail and Sabia and the Eastern Province and Riyadh to lease to investors contracts with a long period of time up to 20 years.

 The number of land offered for leasing in Riyadh was about 22% of the total land offered for leasing to investors in the field of education. The area of ​​this land ranges from 4000 to 10,000 meters for the establishment and operation of all schools and educational complexes.

Thursday, April 18, 2019

Economic growth of the Arab countries in the coming years

The Arab Monetary Fund expects Arab countries to grow by 3.1 per cent in 2019 and 3.4 per cent in 2020, reflecting expectations that the growth rate of the Arab Petroleum Exporting Countries will continue to rise to about 2.8 and 3.1 per cent in 2019 and 2020 respectively , Amid an expected divergence of trends in economic activity across the Group.

The Arab Economic Outlook, issued by the Fund for the month of April, was quoted by aleqt.com. It included an update on the economic performance forecasts of the Arab countries on several levels including economic growth, trends in domestic prices, monetary and financial conditions and expectations for the sector. External relations in the Arab countries during the years 2019 and 2020.

The report pointed out that the most prominent policy priorities for the Arab countries is to create more job opportunities to meet the challenge of unemployment in light of the high rate of unemployment in the Arab countries to almost double the rate of global unemployment. The unemployment challenge in Arab countries is concentrated in the youth sector, especially females, where the unemployment rate among young people rises to 26 per cent according to World Bank data, which is also twice the global average. Young female unemployment is at the highest level Globally is 40 per cent compared to 15 per cent for the world average.

The potential repercussions of the Fourth Industrial Revolution and the subsequent technical developments increase the magnitude of the challenges facing Arab countries in the future.

Addressing the unemployment challenge requires the Arab countries to adopt an integrated approach based on a comprehensive transformation of the structures of the Arab economies, increasing labor market dynamics, facilitating access to finance, adopting institutional reforms to increase the flexibility of labor markets and products, As well as the establishment of educational observatories to explore the needs of the labor markets, seek greater integration into the global economy, and conclude trade liberalization agreements and labor and capital transfers.

With regard to trends in the development of domestic prices, the inflation rate in the Arab countries is expected to decline to 9.3 per cent and 8.1 per cent during 2019 and 2020, respectively, as a result of the low rate of inflation in the Arab oil-exporting countries to 6.1 per cent and 5.9 per cent respectively In 2019 and 2020.

At the sub-group level, inflation in the GCC is expected to fall to around 1.3 per cent in 2019, while inflation is expected to be about 1.6 per cent by 2020. In other oil-producing countries, The inflation rate to about 6.3 per cent during 2019. While expected to reach about 6.5 per cent during 2020.

In the group of Arab oil-importing countries, inflation is expected to fall to about 11.8 percent in 2019 and 9.9 percent in 2020.

With regard to monetary conditions, it is expected that during the years 2019 and 2020, monetary conditions in Arab countries will be affected by economic trends, external demand levels and monetary policy positions in the United States and the European Union. In this context, the return of traditional monetary policy in the United States and the euro zone is expected to have implications for monetary conditions in countries that adopt fixed exchange rate regimes, which will affect the cost of domestic and external financing and capital flows.

In countries that adopt more flexible exchange rates, improved monetary conditions in some will remain linked to improved external demand levels, which will support net foreign assets, help to provide domestic credit and reduce interest rates, and help reduce pressures in the foreign exchange market.

With regard to the financial situation, the combined budget deficit of the Arab countries as a percentage of GDP is expected to decrease to 5.5 per cent in 2019, reflecting the expected impact of the fiscal reforms adopted during the forecast horizon.

On the external sector, the current account surplus is expected to stabilize at around 1.6 per cent of GDP in 2019 and 2020.

Sunday, April 14, 2019

PIF seeks funding for between 5 and 8 billion dollars

Through this financing, the Fund aims to diversify the Kingdom's economy

The Public Investment Fund (PIF) is holding initial talks for $ 5 billion to $ 8 billion in bridge financing, according to Bloomberg sources.

The sources said that the proceeds from the sale of the share of the Public Investment Fund in SABIC will be paid to Saudi Aramco amounting to $ 69 billion.

General Manager of the Public Investment Fund Yasser Al-Rumayyan announced earlier that the fund intends to increase its stake in ACWA Power from 25% to 40%.

The Saudi Public Investment Fund has announced that it has acquired a significant stake in ACWA Power, the developer and owner and operator of power plants and power plants, on July 4, 2018.

At the time, the fund added that this investment would make the Fund a direct contributor to 15.2% of ACWA Power.

Sanabel Investment Company, a wholly-owned subsidiary of the Public Investment Fund, invested 9.78% in ACWA Power. The fund's total stake in ACWA Power was direct and indirect 24.98%. Today, The sovereign raised this quota to 40%.

The investment of the Public Investment Fund in ACWA Power comes in the form of an increase in the company's capital, and its revenues will be used to support the company's growth strategy and future investment plans.

Since its establishment in 2004, ACWA Power has been a Saudi success story to become a leader in the development of energy and desalination projects in the Kingdom, as well as its rapid expansion into new markets.

ACWA Power is able to meet the Kingdom's electricity needs by 14% and 33% of desalinated water, accounting for 54% of the company's total electricity, while 93% of its total desalinated water.

The public investment fund reinforces the shareholder base of ACWA Power, which includes the General Retirement Corporation and the International Finance Corporation, a member of the World Bank Group.

It is also mentioned, The government's share of the public investment fund in NCB is 64.5%, while the government stake in Riyad Bank is 48%. The Public Investment Fund also has 50% interest in Samba and 26% in Alinma Bank Demonstrating the Fund's investment potential.