The deal gives the UAE conglomerate a boost to its plans to expand in the kingdom’s retail sector, and liquidity to the selling Al Hokair family.

More than 1,000 people may be moved and a further 1,000 laid off as part of a sweeping audit of the $500 billion project.

Richard Attias, who helped establish FII a decade ago, is stepping back in after Penny Richards quit

Gulf residents will now be able to trade directly in the Tadawul, and expats will retain access to their investment accounts after they leave the country.

Saudi Arabia has shifted from being almost entirely closed off to foreign capital, culture, and visitors, to a hub for everything from sports to tourism.

Abu Dhabi’s BlueFive Capital closes one of the region’s biggest investment vehicles.

The world’s oldest sovereign wealth fund sold $3.1 billion in Bank of America stock and $3.4 billion of its stake in Hong Kong-based insurer AIA Group.

Attias’ firm has helped put Saudi Arabia on the map in a way few could have imagined in 2017, when it organized the first FII.