RT Bloomberg Live (@BloombergLive)Africa’s economies are transforming – fast. From energy to infrastructure, technology to trade, global partners are rethinking how they invest in and engage with the continent.At the Bloomberg Africa Business Summit, business leaders, policymakers and investors will discuss how new opportunities are redefining growth across Africa.Learn more: https://t.co/UxenVeCIbL#AfricaBusinessSummit ...

RT Bloomberg New Economy (@BBGNewEconomy)#BloombergNewEconomy is the worldwide platform for dialogue and discourse about economic transformation in growth markets. We're convening leaders from across government and private enterprise to collaborate on solutions that forward global prosperity.Join us November 19-21: https://t.co/y5rgvQxBqS ...

Core Insights - Saudi Arabia's annual investment event is facing challenges due to the kingdom's strained finances, with a growing deficit as oil prices remain low, impacting Crown Prince Mohammed bin Salman's ambitious plans [1][6] - Richard Attias, a key figure in Saudi Arabia's economic transformation, emphasizes the importance of the Future Investment Initiative (FII) in attracting investment, having generated approximately $190 billion in deals since its inception in 2017 [4][5] - The FII is shifting focus towards technology and artificial intelligence, aligning with the crown prince's diversification strategy, and is attracting major global investors [4][11] Financial Context - The kingdom's budget deficit has increased, necessitating a reprioritization of spending and scaling back on some ambitious projects [1] - Neom, a flagship project, has seen its estimated costs rise from $500 billion to $1.5 trillion, raising concerns about the sustainability of Saudi Arabia's rapid development agenda [5][6] Event Dynamics - The FII has evolved into a significant platform for global investment, with attendance requiring a $15,000 annual membership, which is considered modest compared to similar global events [8] - The event is expected to feature high-profile attendees, including leaders from around 20 countries, showcasing Saudi Arabia's ability to navigate complex global interests [11] Strategic Partnerships - Major financial institutions, including JPMorgan Chase and Goldman Sachs, are deepening ties with Saudi Arabia, indicating a strong interest in the kingdom's investment landscape [14][15] - Attias's firm is preparing for a potential listing, which could significantly benefit from the success of the FII and the broader Saudi investment narrative [7][16] Competitive Landscape - The FII faces increasing competition from other financial events in the Gulf region, such as Future Finance Week in Dubai and Abu Dhabi Finance Week, which may impact its market position [18] - Despite the competition, Attias remains confident in the FII's unique value proposition and its established reputation among global investors [19]

Saudi Arabia’s sovereign wealth fund is in the market with its first euro-denominated bond, extending the kingdom’s debt push to finance its economic transformation plans https://t.co/g2vBS7jpaU ...

Across Africa, “governments are striving to transform economies”, write Ilyas Moussa Dawaleh and Nzioka Waita. “Yet these efforts are being thwarted, not by a lack of ambition, discipline or vision, but by the stranglehold of an unjust financial system” https://t.co/59wzMaK3x5 ...

Saudi Arabia’s sovereign wealth fund mandated banks for its first euro-denominated green bond sale, signaling no let up in the recent wave of borrowing activity aimed at financing the kingdom’s economic transformation plans https://t.co/YRFkIojMKA ...

The progress of Ukrainian business; the economic and digital transformation ministries; the army and the defence industries are all impressive. But significant parts of the central government are regressing https://t.co/0LyECplAlw ...

RT Bloomberg New Economy (@BBGNewEconomy)#BloombergNewEconomy remains the worldwide platform for dialogue and discourse surrounding the economic transformation within growth markets.Join us November 19-21 in Singapore. https://t.co/Ed2uAXAtOf https://t.co/j4ddMSmArh ...

Group 1 - The recent wave of closures among retail and dining establishments in Hong Kong, including long-established restaurants, has raised societal concerns, leading to the term "closure wave" being used [1] - Despite some closures, new establishments are opening, indicating a dynamic market that requires a rational perspective on the situation [1] - The opening of a new 24-hour branch of the century-old tea house "Lin Heung Tea House" in Tsim Sha Tsui and the entry of mainland brands like "Da Rong Shu Xia" reflect confidence in the Hong Kong market [3] Group 2 - In May, Hong Kong's retail sales increased by 2.4% year-on-year, ending a 14-month decline, with both local and non-local companies reaching record numbers [3] - The expected economic growth for Hong Kong this year is between 2% and 3%, indicating a positive trend in the economy and business environment [3] - The transformation of market supply and demand, along with changing consumer patterns, is impacting traditional businesses, necessitating adaptation and innovation [4] Group 3 - The Hong Kong government has introduced measures to assist small and medium-sized enterprises (SMEs) during the transition period, including a dedicated fund for market expansion and digital upgrades [5] - The "Hong Kong Good Goods Festival" has been launched to support SMEs in developing e-commerce, with reports of significant revenue increases for participating businesses [5] - Continuous innovation and willingness to adapt are essential for businesses to thrive in the competitive market, as evidenced by successful transformations of various operators [5]