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Infrastructure 
Logistics startup Oto closes a USD 8 mn series A round
The fresh funds will be used to fuel the company’s regional expansion, develop the tech stack, and grow the team
Local capital market set for continued growth in 2H 2024, says HSBC
HSBC advised on over ten major transactions in the market in 1H 2024
Five explorations licenses are now up for grabs for “largest mineralized belts” ever offered to investors
Plus: Sipchem’s net income was down y-o-y in 2Q due to higher feedstock prices
Al Gassim Investment Holding appoints new chairman and CEO
Ahmed Sulaiman Almuzaini will be chairman until 2026
Saudia places big flying taxi order for private aviation arm
Plus: Jadwa takes stake in Tikkawy and Dar Global will build a Trump Tower in Dubai
PIF making a play for up to half of Selfridges
The PIF already owns a 10% stake in Selfridges’ properties
PIF partners with Chinese manufacturers to make components for the wind and solar energy here at home
The Kingdom is seeking the localization of the production of 75% of renewable energy components by 2030
Emerging markets recover from post-pandemic lows despite high US interest rates
Plus: Pakistan is getting a USD 7 bn loan from the IMF
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