WASHINGTON: Jared Kushner, a top adviser to former President Donald Trump, plans to launch an investment firm in coming months, a move that will take him away from politics for the foreseeable future, sources familiar with the plan said on Wednesday.
Kushner, the former CEO of Kushner Companies, who served as the Republican president’s senior adviser in the White House, is in the final stages of launching an investment firm called Affinity Partners that will be headquartered in Miami.
Kushner, who is married to Trump’s daughter, Ivanka Trump, is also looking to open an office in Israel to pursue regional investments to connect Israel’s economy and India, North Africa and the Gulf, said two people briefed on the plan, who spoke on condition of anonymity.
The sources had no details about potential investors and said the firm was still in the planning phase.
Kushner has spent the last six months with his family in Miami writing a book about his White House experiences that is expected to be published early next year.
Kushner helped broker deals between Israel and the United Arab Emirates, Bahrain, Sudan and Morocco in a six-month flurry last year. He also helped negotiate a new US-Mexico-Canada trade agreement.
Kushner remains close with his father-in-law, the sources said, but by re-entering the private sector he is stepping away from politics for the foreseeable future.
The Republican Party has been divided over the deadly attacks on the US Capitol on Jan. 6 by Trump supporters, and Trump’s false claims that he beat Democrat Joe Biden in the 2020 presidential election.
Kushner and his family have been spending the summer as Trump’s next-door neighbor at Trump’s golf property in Bedminster, New Jersey.
People close to the former president say he is strongly considering another run for the Republican nomination in 2024.
Jared Kushner investment firm to open Middle East office — Reuters
https://arab.news/y4pcs
Jared Kushner investment firm to open Middle East office — Reuters
- Kushner plans to open an investment office in the coming months, sources familiar with the plan said
- Israel office will attempt to build ties with India, Gulf, North Africa
Closing Bell: Saudi equities continue 4-day upward trend
RIYADH: Saudi equities closed higher on Wednesday, with the Tadawul All Share Index rising 51.52 points, or 0.47 percent, to finish at 10,945.15.
Trading activity was robust, with 373.9 million shares exchanged and total turnover reaching SR6.81 billion.
The MT30 Index also ended the session in positive territory, advancing 11.93 points, or 0.82 percent, to 1,472.82, while the Nomu Parallel Market Index declined 116.82 points, or 0.49 percent, to 23,551.47, reflecting continued volatility in the parallel market.
The main market saw 90 gainers against 171 decliners, indicating selective buying.
On the upside, Al Kathiri Holding Co. led gainers, closing at SR2.18, up SR0.12, or 5.83 percent. Wafrah for Industry and Development Co. advanced to SR23, gaining SR0.99, or 4.5 percent, while Al Ramz Real Estate Co. rose 4.35 percent to close at SR60.
SABIC Agri-Nutrients Co. added 4.21 percent to SR118.70, and Al Jouf Agricultural Development Co. climbed 4.12 percent to SR45.
Meanwhile, losses were led by Saudi Industrial Export Co., which fell 9.73 percent to SR2.69. United Cooperative Assurance Co. declined 5.08 percent to SR3.74, while Thimar Development Holding Co. dropped 4.54 percent to SR35.30.
Abdullah Saad Mohammed Abo Moati for Bookstores Co. retreated 4.15 percent to SR48.50, and Gulf Union Alahlia Cooperative Insurance Co. slipped 3.96 percent to SR10.44.
On the announcement front, Saudi National Bank announced its intention to issue US dollar-denominated Additional Tier 1 capital notes under its existing international capital programe, with the final size and terms to be determined subject to market conditions and regulatory approvals.
The planned issuance aims to strengthen Tier 1 capital and support the bank’s broader financial and strategic objectives.
The stock closed at SR42.70, gaining SR0.70, or 1.67 percent, reflecting positive investor reaction to the capital management move.
Separately, Almasane Alkobra Mining Co. said its board approved the establishment of a wholly owned simplified joint stock company to provide drilling, exploration and related support services, with a share capital of SR100 million and headquarters in Najran, subject to regulatory approvals.
The new subsidiary aligns with the company’s strategy to enhance operational efficiency and expand its role in the Kingdom’s mining sector.
Shares of Almasane Alkobra Mining closed at SR98.70, up SR0.30, or 0.3 percent, by the end of the session.
