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Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

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Saudi Arabia’s PIF to acquire stake in Binladin Group: Report

  • The PIF is considering acquiring part or all the 36 percent stake owned by the ministry of finance.
  • The fund is working with Morgan Stanley on the potential deal to buy into SBG, Argaam reported, citing reports. 

Riyadh, Saudi Arabia — The Public Investment Fund (PIF) intends to acquire a stake in Saudi Binladin Group (SBG), Bloomberg reported, citing sources with knowledge of the matter. 

The fund is working with Morgan Stanley on the potential deal to buy into SBG, Argaam reported, citing reports. 

The PIF is considering acquiring part or all the 36 percent stake owned by the ministry of finance, the sources said, asking not to be identified as the discussions are private. 

SBG would contribute to implementing the Kingdom’s plans to host events such as Expo 2030 and 2034 FIFA World Cup. These major events will require huge investments in infrastructure and the contribution of some companies like SBG. SBG, one of the giant contracting companies, expanded its business to include roads, various facilities, and vital projects across the Kingdom.

Among its most prominent projects was the expansion of the Grand Mosque in Makkah. It has several branches around the world, according to data available with Argaam.