Saudi Arabia crown prince Mohammed bin Salman and Masayoshi Son, SoftBank Group CEO, at a conference in Riyadh, on 24 October 2017. Photo: ReutersRiyadh/Dubai: SoftBank is planning to open a Saudi Arabian office, two people familiar with the matter told Reuters on Tuesday, further strengthening its ties with the kingdom. The Japanese technology investor already has close links with Riyadh after Saudi Arabia’s Public Investment Fund (PIF) contributed to SoftBank’s $93 billion Vision Fund, the world’s largest private equity fund. Already in the technology sector, Apple and Amazon are in licensing discussions with Riyadh on investing in Saudi Arabia, Reuters reported in December. And among financial services groups, Goldman Sachs plans to expand its business in Saudi Arabia after being cleared to trade equities, while Citigroup is considering seeking a full banking licence in the kingdom.

Source: Mint May 15, 2018 10:41 UTC