-
ROSHN and Saudi cybersecurity organization partner on tech advancement
Riyadh, Saudi Arabia -- ROSHN Group, the PIF-owned giga-project and real estate developer, has signed a memorandum of understanding (MoU) with the Saudi Federation for Cybersecurity, Programming and Drones during LEAP, the Riyadh-based annual technology event, that aims to further national capabilities in the areas of cybersecurity, programming, and drone...
-
ROSHN inks MoU with Expro to develop real estate in Saudi Arabia
Riyadh, Saudi Arabia--ROSHN, the Saudi real estate developer, has signed a memorandum of understanding (MoU) with the Expenditure and Project Efficiency Authority, known as Expro, to develop real estate in the kingdom. The MoU looks to improve the efficiency and sustainability of the Public Investment Fund-backed giga-project, as well as boost... -
PIF, ADQ show highest improvement in GSWF sustainability rankings
PIF ranked seventh with a score of 92 (on the GSR score of 100), followed by Mubadala (88), among the SWFs. Regionally, the Middle East saw the biggest improvement from 32 percent in 2020 to 52 percent in 2023. It said Saudi PIF is managing to make its unparalleled growth sustainable by... -
Gaming navigates financial woes amid inflation rise
The GCC gaming industry, bolstered by Saudi Arabia's $38 billion investment, is poised for significant growth that may make it a global leader by 2030, says an expert. -
UAE, Saudi firms eye global acquisitions worth $20bn
Companies like ADNOC, Saudi sovereign fund, and Niu are making significant strides as the two Gulf countries seek to diversify their economies and capitalize on high oil prices. -
SAMI, Safran sign helicopter pact
Paris, France -- SAMI, a PIF-owned national defense and security organization of Saudi Arabia, has signed an agreement with Safran Helicopter Engines for engine maintenance and repair. The agreement includes technical assistance and qualification, development of technical infrastructure, and technical training for Saudi talents who will earn their top qualifications... -
Saudi Public Investment Fund owned KAFD to sponsor Al Nassr Football ClubÂ
Riyadh, Saudi Arabia -- The King Abdullah Financial District Development and Management Company (KAFD DMC), a company wholly-owned by Public Investment Fund, has become the Platinum Sponsor of Al Nassr Football Club (FC) for the next three years, its first foray into the sporting world. The partnership is set to... -
Saudi Arabia’s RVCMC to hold biggest carbon credit auction in Nairobi
The event on Jun 14 aims to sell more than 2 million tons of high-quality CORSIA carbon credits registered with Verra, which manages a variety of carbon offset programs, including the Verified Carbon Standard. More than 15 companies from Saudi Arabia and other countries will participate in the auction. -
Ronaldo puts swagger in Saudi football
Al Nassr forward's first season in the kingdom ended with a whimper, but Saudi football has never enjoyed such attention. -
PIF to acquire stake in Tamimi Market
The Saudi wealth fund will acquire a 30% stake in the gorcery chain. -
PIF-owned SRC completes $933m sukuk
The issue is part of the SAR 20 billion local sukuk program. -
Saudi PIF forms $3 billion company for investments in Iraq: CEO
Muteb Alshathri, acting CEO PIF, told the Saudi-Iraqi Coordination Council in the kingdom that the Saudi-Iraqi Investment Company will invest in mining, real estate, infrastructure, mining, agriculture and financial services. In October last year, the fund announced it will establish five companies aimed at investing in Bahrain, Iraq, Jordan, Oman... -
Tabreed Q1 net profit $64.37m
Tabreed's total connected capacity rose to 1.276 million RT. -
Saudi Arabia seeks US$26bn of investment in machinery, equipment sectors
Riyadh, Saudi Arabia-- Saudi Arabia is looking to attract some US$26 billion dollars worth of investment in the machinery and equipment sector, according to its Minister of Industry and Mineral Resources Bandar bin Ibrahim AlKhorayef. AlKhorayef, who is also Chairman of National Industrial Development Center (NIDC), announced that the industry... -
Aramco, PIF and Baosteel to build Saudi Arabia’s first steel plate plant
It will be the largest integrated steel plate manufacturing complex in the kingdom to be located in Ras Al Khair Industrial City, one of the four special economic zones recently announced by Crown Prince Mohammed bin Salman, PIF said in a statement. -
Digital platforms are transforming the way GCC countries attract investments
Since the beginning of 2023 alone, three digital and physical platforms have been launched by Qatar, Oman and Kuwait to facilitate investments by foreigners and the local private sector. -
SEC to raise $2bn from sukuk
The firm announced 10-year and 30-year tranches. -
Trends Poll: Saudi will reach net-zero first in GCC
Gulf countries have substantial financial and other resources to achieve zero- emission goals but they need to identity and address the obstacles. -
SIRC buys 60% of Masab Plastic
The PIF-owned firm looks to deepen investment in recycling. -
SVB crash may hit GCC investments in US tech firms
Saudi Arabia and US tech firms have numerous partnerships and investments, with the PIF investing over US$7bn in American companies and banks, with key focus on tech sector. -
Saudi PIF launches three initiatives to spur private sector growth
Riyadh, Saudi Arabia -- Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has announced three key initiatives aimed at supporting and enabling the private sector. These initiatives include the Local Content Growth Program, called MUSAHAMA, which seeks to increase the share of local content spend in PIF's domestic... -
SABIC 2022 profit down 28%
The firms said margins will continue to be under pressure in H1. -
Company launched to develop world’s largest modern downtown in Riyadh
Launched by Saudi Crown Prince Mohammad bin Salman, the New Murabba project will offer more than 25 million sqm of floor area, featuring more than 104,000 residential units, 9,000 hotel rooms, and more than 980,000 sqm of retail space, as well as 1.4 million sqm of office space, 620,000 sqm... -
PIF to invest $1.3 billion in four Saudi construction companies
Riyadh, Saudi Arabia--- Saudi Arabia's sovereign wealth fund, the Public Investment Fund, has announced an investment of $1.3 billion by way of minority stakes in four leading Saudi construction companies. The companies are Nesma & Partners Contracting Company, ElSeif Engineering Contracting Company, AlBawani Holding Company, and Almabani General Contractors Company.... -
PIF raises US$5.5bn in bond issue
The capital will finance PIF's green investments. -
Middle Eastern SWFs eye Europe, US for cheap assets
The region's SWFs more than doubled their investments in Western economies to $51.6 billion in 2022 from $21.8 billion a year earlier, says the latest Global SWF report. -
PIF leads Saudi Arabia on path of economic reforms
In order to achieve the Vision 2030 goals, the PIF and its portfolio companies seek to help the kingdom grow its annual non-oil GDP by about seven percent. -
SALIC completes acquisition of Olam
SALIC had signed the acquisition pact in March. -
Saudi PIF acquires 9.5% stake in offshore wind energy developer Skyborn
Dubai---Saudi Arabia's sovereign wealth fund, the Public Investment Fund, had acquired a 9.5 percent stake in Skyborn Renewables, an offshore wind developer and operator. In a statement, PIF said it is investing in Skyborn alongside Global Infrastructure Partners, a US-based infrastructure investment fund. The investment will allow PIF to participate... -
Third Saudi Cruise Season begins as MSC Splendida arrives in Yanbu Port
Riyadh, Saudi Arabia--- Yanbu Commercial Port has officially kickstarted the third edition of the Saudi cruise season by berthing MSC Splendida, which arrived from Jeddah Islamic Port, marking the maiden cruise call for the current season that will run until May 2023. To celebrate the start of the new season,... -
PIF sells 10 percent stake in Tadawul Group at $51 per share
The offering size was SAR 2.3 billion ($611 million), making it the second largest Accelerated Bookbuild Offering to ever take place in the Saudi market and the GCC region. It sold 12 million shares and its remaining stake is equivalent to 72 million shares or 60 percent of the Company's... -
PIF to sell Tadawul stake
It will sell 10% of its stake, amounting to 12m shares. -
SALIC buys 9.2 percent stake in LT Foods
The deal follows the acquisition of 30% stake in Daawat -
Saudi Arabia’s first electric vehicle brand Ceer launched by Crown Prince
Ceer will design, manufacture and sell a range of vehicles in Saudi Arabia and the MENA region, including sedans and sports utility vehicles. The company, which is a joint venture between PIF and Hon Hai Precision Industry (Foxconn), will license component technology from BMW for use in the vehicle development... -
After PIF takeover, Newscastle gains new motivated fan community in Saudi Arabia
Saudi fans focus less on debates around the controversial takeover of the club and more on growing their numbers through watch parties, blogs and even a podcast. -
Americana to sell 30% stake in IPO
The company will list on ADX and Saudi Tadawul by Dec. 6. -
PIF to deploy spending to develop innovative sectors in kingdom
Riyadh, Saudi Arabia--Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has launched a program that will leverage its spending to boost the development of competitive and innovative sectors and industries in Saudi Arabia. The Local Content Growth Program, which was announced at the Sixth Edition of Future Investment... -
Saudi PIF to establish five companies for investments in five Arab countries
The five companies, together with Saudi Egyptian Investment Company (SEIC), a wholly-owned PIF subsidiary that was launched in August 2022, will invest up to $24 billion in opportunities across various key sectors in each market. -
Saudi Arabia key place for solutions to global supply chain issues, says investment minister Khalid Al Falih
Saudi Investment Minister was speaking at the Sixth Edition of the Future Investment Initiative, hailed as 'Davos in the Desert', which started in Riyadh on Tuesday. -
Saudi Arabia is spending big on golf and transforming the sport forever
Since June 2022, when the first Liv Golf tournament funded by Public Investment Fund was played, nine golfers in the top 40 ranking have joined Liv Golf. -
Zain KSA shares go up
The stock rose after the transfer of its subsidiary to the PIF. -
SEIC strikes US$150m deal
The PIF-backed firm buys 34% stake in an Egyptian firm. -
PIF’s green bonds to shore up market, says LSE official
The fund has hired a large group of banks including Citi and JPMorgan to arrange a debut issuance of multi-tranche US dollar-denominated green bonds. -
Jada to promote startups
It will collaborate with Invest Seoul Agency for the venture. -
PIF to buy stake in Seera
PIF will pick up $1bn stake in Seera Group's travel unit. -
Saudi PIF to come out with a debut green bonds issue
Saudi Arabia’s Public Investment Fund (PIF), the sovereign wealth fund at the heart of the kingdom’s reform plans to wean the economy off oil, will tap into international debt markets for a debut green bonds issue in a week or so. -
Mubadala to buy Fortress
The Abu Dhabi fund will buy it from SoftBank for $2bn. -
Saudi PIF launches new company to digitize real estate sector
The Public Investment Fund has launched a new company aiming to digitize and develop the local real estate sector through a comprehensive digital platform. -
TAQA to buy AlMansoori
The Saudi firm will buy UAE company for an unknown sum. -
KHC’s profit vaults by 1,162%
Kingdom Holding Co. posted $1.7 billion profit in H1. -
SRC, Riyad Bank sign $133m deal
This is the second largest mortgage refinancing deal in the kingdom.