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☆ Sovereign debt is the biggest risk to global growth in 2025, Saudi finance minister says
▼ + stars: | 2024-10-31 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

RIYADH — National debt is a major threat to markets in the near future, Saudi Arabia's finance minister said, expressing particular concern over lower income countries as well as what he described as rapidly growing global fragmentation. "I think globally, the serious, serious issue that we need to watch is sovereign debt issues, particularly in low income countries and emerging economies that do not have the fiscal buffers to lean into in case of disruptions in the market," Mohammed Al-Jadaan told CNBC's Dan Murphy Wednesday from the Future Investment Initiative in Riyadh. "And hopefully between the IMF and the G20 we will find a solution, and we will be ready to support the world economy in case of shocks in that area, but it is an area that we need to watch, as global leaders, to make sure that it doesn't surprise us." Global public debt hit a record $97 trillion in 2023, prompting the United Nations to call for urgent reforms for governments and financial systems around the world.

Persons: Mohammed Al, Jadaan, CNBC's Dan Murphy Organizations: Saudi, Future Investment, IMF, Global, United Nations Locations: RIYADH, Riyadh

☆ Saudi Arabia's spending trajectory is sustainable, kingdom's finance minister says
▼ + stars: | 2024-10-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSaudi Arabia's spending trajectory is sustainable, kingdom's finance minister saysMohammed al-Jadaan, Saudi Arabia’s minister of finance, says the kingdom's non-oil revenues have grown significantly and cover about 37% of the national expenditure.

Persons: Mohammed al Organizations: Saudi

☆ Watch CNBC’s full interview with Saudi Arabia’s minister of finance
▼ + stars: | 2024-10-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Saudi Arabia’s minister of financeMohammed Al-Jadaan, Saudi Arabia’s minister of finance, speaks to CNBC’s Dan Murphy at the Future Investment Initiative in Riyadh about the global and domestic economic outlook.

Persons: Mohammed Al, CNBC’s Dan Murphy Organizations: Saudi, Future Investment Locations: Riyadh

☆ Saudi Arabia may be forced to reassess megaprojects like Neom
▼ + stars: | 2024-06-25 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

The Kingdom's Vision 2030 plans feature several massive construction projects, including the futuristic megacity Neom and an entertainment project on the outskirts of Riyadh. Amine Mati, an assistant director at the IMF and its mission chief for Saudi Arabia, told The FT that Saudi authorities were "recalibrating" to assess whether some spending should be delayed. In public, Saudi has largely been keen to insist that the megaprojects, especially Neom, are on track. Experts previously told BI that Saudi Arabia was struggling to attract the foreign investment needed for the development. Representatives for Neom did not immediately respond to a request for comment from Business Insider, made outside normal working hours.

Persons: —, Mohammed Al, Jadaan, Prince Mohammed bin Salman, Neom Organizations: Service, Business, BBC, Saudi, IMF, FT, Public Investment Fund, CNBC Locations: Saudi Arabia, Riyadh

☆ Saudi Arabia will 'downscale' some Vision 2030 projects amid 'challenges,' minister says
▼ + stars: | 2024-04-30 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Saudi Arabia's Neom project secured a $2.7 billion credit line from local lenders. The Saudi finance minister said the kingdom was "very pleased" with progress on Vision 203 goals. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSaudi Arabia is trying to counter reports that its Neom project is struggling.

Persons: —, Mohammed Al Jadaan Organizations: Saudi, Service, Business Locations: Saudi, Saudi Arabia, Riyadh, Sunday

☆ Saudi Arabia goes big in Davos as it looks to become a top AI tech hub for the Middle East
▼ + stars: | 2024-01-19 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +7 min

A pop-up showcasing Saudi Arabia's Neom development features among the most prominent on the Davos promenade in 2024. But Saudi Arabia is keen to capture some of the limelight, and talent, from its neighbor on the Arabian Peninsula — an ambition laid bare on the Davos Promenade this year. "He's driving entrepreneurship, he's diversifying the economy ... And there are a lot of people that are really interested in working in Saudi Arabia," said Bremmer. "In the Emirates and in Saudi Arabia, you have millions of people that need upskilling, particularly Saudi Arabia which has a much larger population," Hidary said. Hidary, who was recently in Saudi Arabia, says that the UAE and Saudi Arabia are looking at countries like Singapore and Israel that have supported start-ups and are driven by technology.

Persons: Mohammed al, Jadaan, Prince Mohammed bin Salman's, Ian Bremmer, he's, Bremmer, Jamal Khashoggi, King Abdullah, KAUST, Harri Jarvelainen, Vera Futorjanski, Futorjanski, Israel Jack Hidary, Hidary, — CNBC's Karen Gilchrist Organizations: Saudi, CNBC, United Arab, prince's, —, Economic, Al, U.S, Eurasia Group, MBS, World Bank, Research Technology Centers, King, King Abdullah University of Science, Technology, UCLA, Riyadh's, Center, AI Research, AI, Artificial Intelligence Authority, Veritas Ventures, Emirates Locations: Davos, CNBC DAVOS, Switzerland, United Arab Emirates, Saudi Arabia, Neom, Saudi, Riyadh, China, Istanbul, UAE, Singapore, Israel, Emirates

☆ A strong Saudi Arabia is important for the region, finance minister says
▼ + stars: | 2024-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA strong Saudi Arabia is important for the region, finance minister saysMohammed Al Jadaan, Saudi Arabia's minister of finance, says for the world and region’s economy to flourish, you need stability.

Persons: Mohammed Al Jadaan Organizations: Saudi Locations: Saudi Arabia

☆ Saudi Arabia offers tax breaks for companies moving regional HQs to Riyadh
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

Saudi Minister of Finance Mohammed Bin Abdullah Al-Jadaan attends the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 15 July 2022. The programme has so far attracted 200 foreign companies, Saudi Investment minister Khaled Al-Falih was quoted as saying. "The new tax exemptions granted on regional headquarters activities will give .... international companies in the kingdom more clarity of vision and stability," Saudi Finance Minister Mohammed Al-Jadaan said, according to SPA. Foreign companies have scrambled to meet the Saudi condition to relocate their regional headquarters after the kingdom said in October the deadline will be enforced. Foreign firms have for years used neighbouring United Arab Emirates as a springboard for their regional operations, including for Saudi Arabia.

Persons: Finance Mohammed Bin Abdullah Al, Jadaan, Jan, Prince Mohammed bin Salman, Khaled Al, Falih, Mohammed Al, ” Jadaan, Aziz El, Bill Berkrot Organizations: Finance, Ministers, Central Bank Governors, Rights, United, United Arab Emirates, International, Saudi Investment, Saudi Finance, Games, , Thomson Locations: Saudi, Nusa Dua, Bali, Indonesia, Rights RIYADH, Saudi Arabia, United Arab, United Arab Emirates

☆ Saudi Arabia to sign deals worth over $500 mln with African nations -minister
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

Saudi Minister of Finance Mohammed al-Jadaan gestures during an interview with Reuters at the Ministry of Finance in Riyadh, Saudi Arabia, December 12, 2021. REUTERS/Ahmed Yosri/File Photo/File Photo Acquire Licensing RightsRIYADH, Nov 9 (Reuters) - The Saudi Fund for Development will sign agreements worth 2 billion riyals ($533 million) with African countries, Saudi Finance Minister Mohammed Al-Jadaan said on Thursday during the Saudi-Arab-African Economic Conference in Riyadh. Saudi Investment Minister Khalid Al-Falih later said at the same conference the kingdom's over $700 billion wealth fund, the Public Investment Fund, will make some "game changing" investments in Africa. Saudi Energy Minister Prince Abdulaziz bin Salman, also at the conference, signed preliminary agreements with African countries including Nigeria, Senegal, Chad and Ethiopia on energy-related cooperation. ($1 = 3.7511 riyals)Reporting by Aziz El Yaakoubi; writing by Clauda Tanios and Yousef Saba; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Mohammed, Ahmed Yosri, Mohammed Al, Jadaan, Khalid Al, Falih, Prince Abdulaziz bin Salman, Aziz El Yaakoubi, Clauda Tanios, Yousef Saba, Jason Neely Organizations: Reuters, Ministry of Finance, REUTERS, Rights, Saudi Fund, Development, Saudi Finance, African Economic Conference, Saudi Investment, Public Investment Fund, Saudi Energy, Thomson Locations: Saudi, Riyadh, Saudi Arabia, Rights RIYADH, Ghana, Africa, Nigeria, Senegal, Chad, Ethiopia

Global fundraising for alternative investments, which include private equity, dropped 21% to $972 billion in the year to Nov. 1 from the same period a year earlier, according to research firm Preqin. As their money becomes more vital, Gulf funds are encouraging private equity firms to invest locally in plans for a post-oil future. "Building a partnership based on reciprocity is nowadays necessary to succeed in the Gulf," said Francois Aissa-Touazi, co-global head of investor relations at private equity fund Ardian. Private equity funds are getting the message. In turn private equity funds can use these pools of capital to fund large private debt or equity transactions, according to Tikehau Capital's Deputy CEO, Frédéric Giovansili.

Persons: Amr Alfiky, Francois Aissa, Ardian, Touazi, Brookfield, Bruce Flatt, thronged, Flatt, Mohammed Al Jadaan, Anthony Diamandakis, Rishi Kapoor, Investcorp, Tikehau, Frédéric Organizations: United, United Arab Emirates, REUTERS, Rights, Global, Investment Initiative, Public Investment Fund, Brookfield, Tikehau, CVC, Reuters, Thomson Locations: Abu Dhabi, United Arab, Rights RIYADH, LONDON, Davos, Saudi, Saudi Arabia, Riyadh, Dubai, Brookfield, Bahrain

☆ Watch CNBC’s full interview with Saudi Finance Minister Mohammed al-Jadaan
▼ + stars: | 2023-10-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Saudi Finance Minister Mohammed al-JadaanWatch CNBC’s full interview with Saudi Arabia’s Finance Minister Mohammed al-Jadaan. Speaking to CNBC’s Dan Murphy at the Future Investment Initiative, al-Jadaan called for de-escalation in the region as the death toll mounts from the war between Israel and Hamas.

Persons: Mohammed al, CNBC’s Dan Murphy Organizations: Saudi Finance, Saudi Arabia’s Finance, Future Investment Initiative Locations: Israel

☆ There is 'no reason' why Israel-Hamas war should continue, Saudi Finance minister says
▼ + stars: | 2023-10-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere is 'no reason' why Israel-Hamas war should continue, Saudi Finance minister saysSaudi Arabia’s Finance Minister Mohammed al-Jadaan tells CNBC's Dan Murphy that Riyadh has done "a lot of work" over the last two years to de-escalate tensions in the region.

Persons: Mohammed al, CNBC's Dan Murphy Organizations: Saudi, Saudi Arabia’s Finance Locations: Israel, Riyadh

☆ Saudi Arabia is working with partners to de-escalate unrest in the region, minister says
▼ + stars: | 2023-10-25 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

Saudi Finance Minister Mohammed al-Jadaan on Wednesday discussed his country's efforts to de-escalate what he called "recent events" in the Middle East region, without naming any of the parties involved. "So we need calm, we need wisdom, we need to collaborate, to bring calm and make sure that we de-escalate." The United Nations and numerous countries have called for a cease-fire, so far to no avail. "We have seen this in the region where before the 7th of October a lot of de-escalation had happened, which brought a lot of hope for the region, and we don't want the recent events to derail that," the minister said. "So we are making a lot of efforts with our partners to ensure that we go back to where we are and continue the development path."

Persons: Mohammed al, Jadaan, CNBC's Dan Murphy Organizations: Saudi, Hamas, United Nations Locations: East, Riyadh, Saudi Arabia, Israel, Palestinian, Gaza

☆ We are making a lot of effort with our partners to deescalate unrest in region: Saudi minister
▼ + stars: | 2023-10-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are making a lot of effort with our partners to deescalate unrest in region: Saudi ministerMohammed bin Abdullah Al-Jadaan, Saudi Arabia's minister of finance, says his country is making "a lot of effort" with partners to deescalate unrest in the region.

Persons: Mohammed bin Abdullah Al Organizations: Saudi Locations: Saudi

Saudi Minister of Finance Mohammed al-Jadaan gestures during an interview with Reuters at the Ministry of Finance in Riyadh, Saudi Arabia, December 12, 2021. REUTERS/Ahmed Yosri/File Photo Acquire Licensing RightsRIYADH, Oct 25 (Reuters) - Saudi Arabia will implement its January 2024 deadline requiring international firms that wish to secure government contracts in the kingdom to locate their regional headquarters to Riyadh, the finance minister said on Wednesday. "The deadline is not new, and yes it will be implemented," Mohammed Al Jadaan told Reuters when asked whether the January deadline remained on track. Foreign firms have for years used neighbouring United Arab Emirates as a springboard for their regional operations, including for Saudi Arabia. While the government has given cash injections to the PIF in the past, Jadaan said cash transfers were "very limited" and were disbursed from surplus.

Persons: Mohammed, Ahmed Yosri, Jan, Mohammed Al Jadaan, Jadaan, Pesha Magid, Angus MacSwan, Josie Kao Organizations: Reuters, Ministry of Finance, REUTERS, Rights, United, Future Investment Initiative, Public Investment Fund, Saudi, Thomson Locations: Saudi, Riyadh, Saudi Arabia, Rights RIYADH, United Arab Emirates, Brazil, Russia, India, China, South Africa

☆ 'Time to set the record straight': Saudi minister defends China's lending to developing nations
▼ + stars: | 2023-10-13 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

Kristalina Georgieva, managing director of the International Monetary Fund (left), Ajay Banga, president of the World Bank Group (center) and Mohammed Al-Jadaan, Saudi Arabia's finance minister, during a panel session at the annual meetings of the International Monetary Fund and World Bank in Marrakesh, Morocco, on Thursday, Oct. 12, 2023. "Maybe it's time to set the record straight," Finance Minister Mohammed al-Jadaan said Thursday at the World Bank and International Monetary Fund joint conference in Marrakesh, Morocco. China built infrastructure that they cannot carry with them to China, it will actually be in Africa. China took the risks, when people didn't want to take the risks," he said at a panel discussion on debt reform priorities. He was speaking on a Marrakesh panel discussion, which included the heads of both the World Bank and International Monetary Fund, as well as Zambia's Minister of Finance and National Planning, Situmbeko Musokotwane.

Persons: Kristalina Georgieva, Ajay Banga, Mohammed Al, Mohammed al, Jadaan Organizations: International Monetary Fund, World Bank Group, World Bank, Finance, National Locations: Saudi, Marrakesh, Morocco, Saudi Arabia, China, Beijing, Africa, Musokotwane

☆ Watch: IMF's Georgieva and other leaders discuss debt relief and reforms on CNBC panel
▼ + stars: | 2023-10-12 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: 1 min

[The stream is slated to start at 10:45 a.m. Please refresh the page if you do not see a player above at that time.] CNBC's Joumanna Bercetche is moderating a panel at the annual meetings of the International Monetary Fund and World Bank in Marrakech, Morocco. Titled, "Reform Priorities for Tackling Debt," the seminar will include Kristalina Georgieva, the managing director of the IMF, Ajay Banga, the president of the World Bank Group, Mohammad Al-Jadaan, the minister of finance for Saudi Arabia, Situmbeko Musokotwane, minister of finance for Zambia, and Anna Gelpern, professor of law and international finance at Georgetown LawSubscribe to CNBC on YouTube.

Persons: Kristalina, Ajay Banga, Mohammad Al, Situmbeko Musokotwane, Anna Gelpern Organizations: International Monetary Fund, World Bank, World Bank Group, Georgetown Law, CNBC, YouTube Locations: Marrakech, Morocco, Saudi Arabia, Zambia

The kingdom's sovereign wealth fund reported an AUM of 1.98 trillion riyals for 2021. The PIF said it generated a total shareholders' return of 8% and established 25 companies in 2022, and locally deployed 120 billion riyals in that year in strategic sectors. The PIF said 23% of its AUM were international investments, while 68% were local investments and the remainder were treasury. PIF is the chosen vehicle of Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, to drive an economic agenda aimed at cutting reliance on oil. The fund raised $5.5 billion in February from a green bond sale, following its inaugural green bond that raised $3 billion in October.

Persons: Yasir Othman Al, Mohammed Abdullah Al Jadaan, Ahmed Aqeel Al Khateeb, Ibrahim Abdulaziz Al, Prince Mohammed bin Salman, Majid Abdullah Al Qasabi, Khalid Abdulaziz Al Falih, PIF, Ahmed Elimam, Alex Richardson Organizations: Saudi Public Investment, Saudi Finance, Tourism, Investment, Read, Saudi, Public Investment Fund, Sunday, Aramco, Sanabil Investments, Thomson Locations: Saudi, DUBAI, London , New York, Hong Kong, Saudi Aramco

WASHINGTON, April 14 (Reuters) - The International Monetary Fund's steering committee on Friday said it would accelerate its discussions on quota reforms at the global lender with an eye to making "considerable progress" by its next meeting in October. "In this context, we support at least maintaining" the IMF’s current lending resources, Calvino said in a summary of the committee's work. "With regard to IMF resources, I continue to believe that overall resources remain adequate," Yellen said. "At the same time, the IMF needs to follow through on its commitment to a new quota formula that is both fair and simple and primarily reflects the economic size of its member countries." He called for a "pragmatic approach" to complete the review by December to increase IMF resources and to "strengthen the voice and representation of dynamic emerging market and developing economies."

For Saudi Arabia, a deal could mean improved security. Saudi Arabia, Washington's most important Arab ally, began exploring ways to open a dialogue with the Islamic Republic two years ago in Iraq and Oman, said a Saudi official. In a bilateral meeting with Crown Prince Mohammed bin Salman, the president expressed his desire to broker dialogue between Saudi Arabia and Iran. CHINESE MEDIATION 'BEST OPTION'An Iranian official said the deal covered a range of issues, from security concerns to economic and political issues. "China was the best option considering Iran's lack of trust towards Washington and Beijing's friendly ties with Saudi Arabia and Iran.

☆ What happened with SVB was the result of 'multiple failures,' Saudi finance minister says
▼ + stars: | 2023-03-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat happened with SVB was the result of 'multiple failures,' Saudi finance minister saysSaudi Finance Minister Mohammed Al Jadaan says what happened with the bank is a "clear warning to all of us."

☆ Saudi Arabia could start investing in Iran 'very quickly,' finance minister Mohammed Al-Jadaan says
▼ + stars: | 2023-03-15 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

watch nowSaudi Arabia may soon be investing in its longtime regional foe Iran following a breakthrough agreement reached between the two countries to re-establish diplomatic relations, the kingdom's Finance Minister Mohammed Al-Jadaan said Wednesday. Asked by CNBC's Hadley Gamble in Riyadh how soon the world might see the wealthy Saudi kingdom making significant investments into Iran and vice versa, Al-Jadaan replied: "I would say very quickly." "When people really stick to the principles of what was agreed, I think that that could happen very quickly. Some regional analysts and Western policymakers are skeptical as to whether the countries — Iran in particular — will stick to the pledges, which has yet to be seen. Still, the Saudi finance minister appeared optimistic.

☆ Iran's top security official to visit the UAE amid regional rapprochement
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +2 min

DUBAI, March 15 (Reuters) - Iran's Supreme National Security Council secretary Ali Shamkhani will visit the United Arab Emirates (UAE) on Thursday, Nour News, which is affiliated with the Iranian top security body, reported. His visit to Abu Dhabi comes at a time of growing rapprochement between Iran and Gulf countries. News of the visit came as Saudi Arabia's finance minister, Mohammed al-Jadaan, said that Saudi investment in Iran could happen "very quickly" following last week's agreement. "Top economic, banking and security officials will accompany the Supreme National Security Council secretary to the UAE," it added. The UAE has business and trade ties with Iran stretching back more than a century, with the Dubai emirate long being one of Iran's main links to the outside world.

☆ Saudi investment in Iran could happen 'very quickly' after agreement - minister
▼ + stars: | 2023-03-15 | by ( Rachna Uppal | ) www.reuters.com time to read: +1 min

RIYADH, March 15 (Reuters) - Saudi Arabia's finance minister, Mohammed al-Jadaan, said on Wednesday that Saudi investments into Iran could happen "very quickly" following an agreement. "There are a lot of opportunities for Saudi investments in Iran. Tehran and Riyadh agreed to resume diplomatic relations and re-open embassies within two months, according to a statement issued by Iran, Saudi Arabia and China, which brokered the deal. "To focus on your economic development and focus on providing for the people in your country, you need stability, and they (Iran) need both," al-Jadaan said in Riyadh. He said there are a lot of opportunities in Iran and that Saudi Arabia also provides a lot of opportunities for them.

☆ Saudi investments into Iran could happen 'very quickly,' Saudi finance minister
▼ + stars: | 2023-03-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSaudi investments into Iran could happen 'very quickly,' Saudi finance ministerSaudi Finance Minister Mohammed Al Jadaan discusses the restoration of diplomatic ties between Saudi Arabia and Iran.

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