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The creation of the Investment Ministry was part of a broader Saudi government reshuffle by Crown Prince Mohammed bin Salman (MBS), the de facto ruler of the kingdom. MBS has aggressively moved to diversify the Saudi economy away from petroleum. [2] It was unclear whether the new Investment Ministry would be more powerful than SAGIA. [2]
Saudi Arabia also abides by international treaties, which are approved by royal decree. One such example is Royal Decree No.11, dated 16 Rajab 1414, corresponding to 30 December 1993, which declared Saudi Arabia's ascension to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards. [10]
The Saudi Capital Market Authority was established to achieve a set of objectives, of which the most important are developing an organized, fair, transparent financial market, and ensuring the protection of investors from irregular practices, which involving deceit, cheat, fraudulence, or manipulation. To achieve these objectives and others ...
During the 2017 Saudi-US CEO Forum, which was part of President Donald Trump's official trip to Saudi Arabia, PIF announced plans to "invest $40 billion in infrastructure projects, mostly in the U.S." Blackstone, whose CEO and founder—Stephen A. Schwarzman—is a top supporter of Trump, entered into a non-binding memorandum by which the PIF ...
The Ministry owns the Istidama Holding Company, which on 23 April 2018, received the 36.2% stake of the Saudi Binladin Group owned by Bakr bin Laden and his brothers Saleh and Saad. [ 2 ] Government bodies established by the Ministry of Finance
A former Colorado assistant football coach reportedly attempted to raise NIL funding from Saudi Arabia. The efforts were made on his own without the athletic department's endorsement.
between 2008 and 2012, better performance than 4% of all directors The Hatim A. Tyabji Stock Index From January 2008 to December 2012, if you bought shares in companies when Hatim A. Tyabji joined the board, and sold them when he left, you would have a -77.5 percent return on your investment, compared to a -2.8 percent return from the S&P 500.
For a smooth transition to IFRS, ICAI has taken up the matter of convergence with the National Advisory Committee on Accounting Standards and various regulators such as the RBI, SEBI and IRDA, CBDT. IASB, the issuer of IFRS, is also supporting the ICAI in its endeavors towards convergence. ICAI has revised/formulated Ind AS on the basis of the ...