INVESTMENT WATCH-

The Saudi Investment Marketing Authority inked an MoU with Japan’s Mizuho Bank to facilitate investment between the two countries, SPA reports. Under the agreement, the Saudi authority will support Japanese companies looking to invest in the Kingdom or looking to establish investment partnerships with Saudi counterparts.

DEBT WATCH-

Riyadh-based International Islamic Trade Finance Corporation (ITFC) will provide USD 2.75 bn to Bangladesh to support energy security and the agriculture sector in the South Asian country, state news agency SPA reports. The agreement signed with the Bangladeshi government will support the import of petroleum products, liquefied natural gas, and fertilizers. The facility will cover the period from July 2025 to June 2026, according to a press release.

Key beneficiaries include the government-run Bangladesh Petroleum Corporation, Petrobangla, and Bangladesh Agricultural Development Corporation.

This is not the first ITFC facility for Bangladesh: ITFC has so far provided more than USD 19 bn in financing to Bangladesh, according to SPA.

HOSPITALITY-

Rotana to open nine hotels in the Kingdom: Abu Dhabi-based hotel management firm Rotana is gearing up to open nine hotels in Saudi Arabia — five of which are slated for 2025 — as part of its expansion plan across the Middle East, Africa, Europe, and Turkey, according to a press release. The plan will see the company launch a total of 36 new hotels across 22 cities. Rotana also said it plans to double its room count in the Kingdom to 6k over the next three years.

REAL ESTATE-

Nomu-listed View United Real Estate Development inked a SAR 164 mn contract with Al Shams Holding Company to build and sell a residential tower in Riyadh’s Al Nakheel neighborhood, according to a disclosure to Tadawul. The project is scheduled to be completed in 30 months.

TECHNOLOGY-

Honeywell launches cybersecurity center in Jubail: US-based multinational conglomerate Honeywell opened a new center at its Jubail office to provide cybersecurity solutions for companies operating in the industrial sector — including the energy, manufacturing, and utilities sectors — according to a press release.

MANUFACTURING-

Siemens Energy expanded its plant in Dammam’s 2nd Industrial City to produce gas-insulated switchgear and HL-class gas turbines, boosting the facility’s total area by 35% to 20k sqm, the Saudi Authority for Industrial Cities and Technology Zones (Modon) said in a post on X.

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