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Saudi ROSHN Group Reveals Rebranding

A ROSHN project in Saudi Arabia (ROSHN website)
A ROSHN project in Saudi Arabia (ROSHN website)
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Saudi ROSHN Group Reveals Rebranding

A ROSHN project in Saudi Arabia (ROSHN website)
A ROSHN project in Saudi Arabia (ROSHN website)

ROSHN Group, a pioneering real estate developer backed by Saudi Arabia’s Public Investment Fund, has introduced on Sunday a new identity and strategic focus that expands its remit to include asset classes beyond its core residential offering.
This transformation into a multi-asset developer cements ROSHN's status as a trailblazer in the real estate sector and sets the stage for an innovative approach to developing mixed-use projects and multi-asset destinations, the Group said in a statement.
It said the launch of ROSHN Group’s fresh visual identity signifies a milestone in its commitment to broadening its real estate portfolio and establishing integrated destinations that cater to society’s diverse needs.
The new portfolio will encompass ROSHN’s core asset classes of 200 million square meters of residential property, alongside over four million square meters of gross leasable area across retail, commercial, and hospitality sectors.
Its enabling assets will include education, mosques, and healthcare, while opportunity assets span transport and logistics, including warehouses, industrial parks, and knowledge hubs, as well as leisure and entertainment, ranging from entertainment centers to fitness hubs.
These projects will showcase an exceptional diversity of assets, creating investment opportunities, elevating living standards, and driving economic growth, the Group said.
“Our growing portfolio now seamlessly integrates forward-thinking amenities and elevated connectivity, fostering opportunities for commercial partnerships, job creation, investment, and economic growth in alignment with Saudi Vision 2030,” said Chief Marketing and Communication Officer Ghada Al Rumayan of ROSHN Group.
She added, “With our own evolution, this vision becomes even more tangible as we introduce our expanded approach and dedication to improving quality of life through iconic new destinations across the Kingdom.”
Al Rumayan said that ROSHN takes pride in its role as a leading real estate developer in the Kingdom with a vision to transform urban living.

 

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Dollar Strengthens on Elevated US Bond Yields, Tariff Talks

A teller sorts US dollar banknotes inside the cashier's booth at a forex exchange bureau in downtown Nairobi, Kenya February 16, 2024. REUTERS/Thomas Mukoya/File photo
A teller sorts US dollar banknotes inside the cashier's booth at a forex exchange bureau in downtown Nairobi, Kenya February 16, 2024. REUTERS/Thomas Mukoya/File photo
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Dollar Strengthens on Elevated US Bond Yields, Tariff Talks

A teller sorts US dollar banknotes inside the cashier's booth at a forex exchange bureau in downtown Nairobi, Kenya February 16, 2024. REUTERS/Thomas Mukoya/File photo
A teller sorts US dollar banknotes inside the cashier's booth at a forex exchange bureau in downtown Nairobi, Kenya February 16, 2024. REUTERS/Thomas Mukoya/File photo

The dollar rose for a second day on Wednesday on higher US bond yields, sending other major currencies to multi-month lows, with a report that Donald Trump was mulling emergency measures to allow for a new tariff program also lending support.

The already-firm dollar climbed higher on Wednesday after CNN reported that President-elect Trump is considering declaring a national economic emergency as legal justification for a large swath of universal tariffs on allies and adversaries.

The dollar index was last up 0.5% at 109.24, not far from the two-year peak of 109.58 it hit last week, Reuters reported.

Its gains were broad-based, with the euro down 0.43% at $1.0293 and Britain's pound under particular pressure, down 1.09% at $1.2342.

Data on Tuesday showed US job openings unexpectedly rose in November and layoffs were low, while a separate survey showed US services sector activity accelerated in December and a measure of input prices hit a two-year high - a possible inflation warning.

Bond markets reacted by sending 10-year Treasury yields up more than eight basis points on Tuesday, with the yield climbing to 4.728% on Wednesday.

"We're getting very strong US numbers... which has rates going up," said Bart Wakabayashi, Tokyo branch manager at State Street, pushing expectations of Fed rate cuts out to the northern summer or beyond.

"There's even the discussion about, will they cut, or may they even hike? The narrative has changed quite significantly."

Markets are now pricing in just 36 basis points of easing from the Fed this year, with a first cut in July.

US private payrolls data due later in the session will be eyed for further clues on the likely path of US rates.

Traders are jittery ahead of key US labor data on Friday and the inauguration of Donald Trump on Jan. 20, with his second US presidency expected to begin with a flurry of policy announcements and executive orders.

The move in the pound drew particular attention, as it came alongside a sharp sell-off in British stocks and government bonds. The 10-year gilt yield is at its highest since 2008.

Higher yields in general are more likely to lead to a stronger currency, but not in this case.

"With a non-data driven rise in yields that is not driven by any positive news - and the trigger seems to be inflation concern in the US, and Treasuries are selling off - the correlation inverts," said Francesco Pesole, currency analyst at ING.

"That doesn't happen for every currency, but the pound remains more sensitive than most other currencies to a rise in yields, likely because there's still this lack of confidence in the sustainability of budget measures."

Markets did not welcome the budget from Britain's new Labor government late last year.

Elsewhere, the yen sagged close to the 160 per dollar level that drew intervention last year, touching 158.55, its weakest on the dollar for nearly six months.

Japan's consumer sentiment deteriorated in December, a government survey showed, casting doubt on the central bank's view that solid household spending will underpin the economy and justify a rise in interest rates.

China's yuan hit 7.3322 per dollar, the lowest level since September 2023.