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Deutsche joins the Riyadh club
Deutsche Bank secured a regional headquarters license in Saudi Arabia from the Investment Ministry, making Riyadh the base for its regional management, strategic decision-making, and corporate functions across the Middle East, it said in a statement. The bank began the application process last year.
The Riyadh footprint: The facility will become Deutsche Bank’s third entity in the Kingdom, alongside its Riyadh branch (established in 2006, regulated by SAMA) and Deutsche Securities Saudi Arabia (established in 2007, regulated by the CMA). Deutsche joins JPMorgan, Goldman Sachs, and Morgan Stanley among financial institutions that have obtained the license.
Entertainment heads south
Najran is getting a 100k sqm entertainment destination, with completion targeted for 2027, state news agency SPA reports, citing a statement from General Entertainment Authority (GEA) chairman Turki Al Sheikh. The development will include entertainment venues, restaurants, live events, a cinema, bowling, karting, and other recreational facilities.
Why it matters: The Kingdom’s entertainment push has largely concentrated in Riyadh, Jeddah, and the Red Sea coast. A dedicated 100k sqm destination in Najran, a region that has seen SAR 711 mn in infrastructure investment but little formal leisure development, would be a meaningful extension of the GEA mandate into the south.
Tawuniya’s Fitch outlook slips to stable
Fitch Ratings has revised down the Company for Cooperative Ins.’s (Tawuniya) outlook to stable from positive, while affirming the insurer’s financial strength rating at A, according to a Tadawul disclosure.
