Saudi stocks set to receive $20bn windfall as kingdom joins major indices – Gulf Business

Saudi Arabia’s inclusion in major emerging markets stock indices from Monday is likely to suck in around $20bn in passive inflows, but unease after Jamal Khashoggi’s murder and sluggish reforms could lead some active foreign investors to steer clear.Saudi Arabia will be the biggest recent addition to the global indices, the largest of which is the MSCI Emerging Markets Index, which it joins from May. MSCI will give the kingdom a weight of 2.7 per cent, between Russia and Mexico. Source: Saudi stocks set to receive $20bn windfall as kingdom joins major indices – Gulf Business

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Deutsche Bank appoints Riyadh GM | ZAWYA MENA Edition

LONDON: Deutsche Bank has appointed Mohammed Alajmi as general manager of Deutsche Bank Riyadh Branch in Saudi Arabia.He will have oversight of the bank’s business regulated by the Saudi Arabian Monetary Authority (SAMA), Deutsche Bank said in a statement.The German banking giant originally established its Riyadh branch in 2006. Source: Deutsche Bank appoints Riyadh GM | ZAWYA MENA Edition

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SoftBank to hire Deutsche Bank’s Saudi Arabia head – report – ArabianBusiness.com

SoftBank to hire Deutsche Bank’s Saudi Arabia head – report Saudi Arabia’s Public Investment has a $45 billion stake in the SoftBank-managed Vision Fund. According to the report, Saudi national Ziyad Al Ashaikh has already quit Deutsche Bank, although it remains unclear when he will begin working with SoftBank. Source: SoftBank to hire Deutsche Bank’s Saudi Arabia head – report – ArabianBusiness.com

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Apple and Amazon in talks to set up in Saudi Arabia – sources – Gulf Business

Apple and Amazon are in licensing discussions with Riyadh on investing in Saudi Arabia, two sources told Reuters – part of Crown Prince Mohammed bin Salman’s push to give the conservative kingdom a high-tech look.A third source confirmed that Apple was in talks with SAGIA, Saudi Arabia’s foreign investment authority. Source: Apple and Amazon in talks to set up in Saudi Arabia – sources – Gulf Business

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