QIA picks stake in India’s Reliance Retail Ventures at $100bn

Qatar Investment Authority will invest $1 billion for a 1 percent stake in Reliance Retail Ventures, valuing the company at $100 billion. This investment comes after Reliance Retail Ventures raised about $6.4 billion from various investors, including KKR, General Atlantic, and the Saudi Public Investment Fund.

arabnews.com

Relevant topic timeline:

8/28/2023

Reliance has invested $150bn in last 10 years; Ambani scions appointed as board directors; JioAirFiber to be launched on Sept. 19: Key points - Times of India

Reliance Industries, led by Mukesh Ambani, has invested $150 billion in the past decade, making it the largest investment by any Indian corporation, with a focus on transforming India into a premier digital society through initiatives such as Jio 5G and AI-powered solutions.

9/3/2023

Kuwait appoints Fahd Al-Jarallah as finance minister - KUNA

Kuwait has appointed Fahd Al-Jarallah as the new finance minister, replacing Manaf Al Hajeri who resigned in July, while Saudi Arabia's Tadawul All Share Index closed 35.42 points lower on Sunday, and Saudi Arabia has exempted micro and small businesses with annual revenues below $2.7 million from auditor's requirements to support entrepreneurship in the country. In other news, Oman's refineries and petroleum industries reported a 13.5% growth in July, and Jeddah will host an event and conference on elevators and escalator technologies in September, contributing to the growth of the vertical transportation industry in Saudi Arabia. Additionally, Qatar's tourism sector continues to thrive, with a 91.4% year-on-year increase in visitors in July, and container shipments handled by Qatari ports saw a 19% surge in August.

9/4/2023

Saudi Arabia and Italy to sign 20 cooperation agreements across

UAE's Global Investment Holding Co. has purchased a 30% stake in Egyptian tobacco manufacturer Eastern Co. for $625 million, as part of Egypt's effort to increase private investments and reduce the state's involvement in the economy. Additionally, Italian energy major Eni plans to invest $7.7 billion in Egypt, further showcasing renewed investment interests in the African continent.

9/4/2023

Pakistan's interim PM says Saudi Arabia to invest $25 bln over next five years

Saudi Arabia plans to invest up to $25 billion in Pakistan over the next few years, focusing on sectors such as mining, agriculture, and information technology, in an effort to increase foreign direct investment and aid Pakistan's economic recovery.

9/13/2023

Reliance Retail in Talks to Raise $1.5 Billion More from Sovereign Funds

Reliance Retail, India's largest retailer, is in talks with existing investors, including sovereign wealth funds from Singapore, Abu Dhabi, and Saudi Arabia, for approximately $1.5 billion in new investments as part of its plan to raise $3.5 billion by the end of September at a valuation of $100 billion.

9/16/2023

Saudi Startups Attract Over $60M in Venture Funding Across Construction, Food Delivery, Fintech and Logistics

Saudi Aramco's venture capital subsidiary, Wa'ed Venture, co-led a $52 million funding round for Mighty Buildings, a US-based construction technology startup known for its 3D printing technology in creating environmentally friendly and climate-resilient homes, with the funds dedicated to expanding its factory footprint in North America and entering new markets, including Saudi Arabia and the UAE. Additionally, Saudi Arabia's online marketplace Barakah raised $1.5 million in seed funding to expand its surplus food management operations, while Saudi Venture Capital invested $5 million in a fintech fund managed by UAE-based VentureSouq, focusing on early-stage fintech startups. Furthermore, logistics startup Equiptal secured $1 million in pre-seed funding to expand its team and market presence in Saudi Arabia.

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Posted 8/23/2023, 12:59:13 PM

QIA picks stake in India’s Reliance Retail Ventures at $100bn

arabnews.com

Relevant topic timeline:

8/28/2023

Reliance has invested $150bn in last 10 years; Ambani scions appointed as board directors; JioAirFiber to be launched on Sept. 19: Key points - Times of India

9/3/2023

Kuwait appoints Fahd Al-Jarallah as finance minister - KUNA

9/4/2023

Saudi Arabia and Italy to sign 20 cooperation agreements across

9/4/2023

Pakistan's interim PM says Saudi Arabia to invest $25 bln over next five years

9/13/2023

Reliance Retail in Talks to Raise $1.5 Billion More from Sovereign Funds

9/16/2023

Saudi Startups Attract Over $60M in Venture Funding Across Construction, Food Delivery, Fintech and Logistics