Company Insights Public Investment Fund (PIF) Finance Public Investment Fund (PIF) News Health Omani firm begins work on $155m vaccine facility Muscat-based Opal Bio Pharma Company has started work on Oman’s first life-saving medicines and vaccine factory. The OMR60 million ($155.84 million) facility will cover 37,000 sq m at Khazaen Economic City and will be completed in two years. Details of the manufacturing capacity were not disclosed. Chairman Saad Moosa Al Junaibi said that the factory […] July 14, 2023 Energy PIF and Engie to collaborate on green hydrogen French utilities firm Engie and Saudi Arabia’s Public Investment Fund have signed an initial agreement to develop green hydrogen projects in the kingdom, building on Gulf ambitions to become a world leader in the fast-growing renewable energy segment. Under the memorandum of understanding signed this week, Engie and PIF will explore opportunities to jointly develop […] July 13, 2023 Analysis Banking & Finance Middle East IPO drive likely to cool in second half of 2023 The wave of listings on Middle East markets will slow down as the year progresses, with initial public offerings being pushed to 2024 instead, say industry experts. Last year 71 IPOs were completed in the Middle East, for a combined transaction value of more than $25 billion, according to S&P Global Market Intelligence. That compares […] July 10, 2023 Banking & Finance SNB plan to take 40% Credit Suisse stake halted by regulator Saudi National Bank (SNB) wanted to increase its stake in Credit Suisse, Switzerland’s second-largest bank, to 40 percent from 9.88 percent, Zürich-based Blick daily reported. However, Swiss regulator Finma stopped the bank from making the move. Finma must approve a foreign investor taking a stake of more than 10 percent in a major Swiss bank, […] July 10, 2023 Health PIF’s Lifera and Sanofi join hands to produce vaccines A subsidiary of Saudi Arabia’s sovereign wealth fund has signed an agreement to increase the local production of vaccines. Lifera, wholly owned by the Public Investment Fund (PIF), French pharma major Sanofi and Arabio, majority owned by Riyadh-based Tamer Group, will set up manufacturing facilities in the kingdom to produce vaccines for Saudi citizens. No details were […] July 7, 2023 Business of Sport Oman Air signs sponsorship with Chelsea FC Oman Air has signed a three-year sponsorship deal to become the global airline partner of English Premier League football club Chelsea. The sultanate’s flag carrier is looking to capitalise on Chelsea’s international following. The partnership will include co-branded livery, joint promotional content and corporate social responsibility campaigns. Financial details around the deal were not disclosed. […] July 6, 2023 Business of Sport PIF plans new subsidiary to boost sports investments Saudi Arabia’s Public Investment Fund (PIF) aims to establish a multi-billion-dollar investment company to expand its sports interests globally. The new entity will have a war chest to fund its expansion, the Financial Times reported, citing an informed source. The move reaffirms Riyadh’s drive to make more acquisitions, investments and joint ventures in football, tennis […] July 6, 2023 Development Saudi special economic zone plot sold for $98m The master developer of King Abdullah Economic City has announced a land sale worth SAR367 million ($98 million) as Saudi Arabia presses on with plans to create further economic zones in the kingdom. Emaar The Economic City, which is listed on Tadawul, said in a filing to the Saudi stock exchange that it has sold […] July 3, 2023 Banking & Finance Mena wealth funds sharpen up on sustainability Mena sovereign wealth funds’ efforts to improve their governance and sustainability practices to meet global standards appear to be bearing fruit, as they recorded the biggest improvement of all regions in a new analysis. Data platform Global SWF assessed the performance of 100 sovereign wealth funds and public pension funds on their governance, sustainability and […] July 3, 2023 Manufacturing Saudi-backed Lucid in EV deal with UK’s Aston Martin Saudi Arabia-backed Lucid Group has signed a deal with British luxury carmaker Aston Martin to produce high-performance electric vehicles (EVs) from 2025. The Public Investment Fund (PIF), one of the largest sovereign wealth funds in the world, owns a 65 percent stake in the US-based EV manufacturer. As part of the agreement, Lucid will supply […] June 27, 2023 Posts navigation Previous 1 … 71 72 73 … 93 Next
Health Omani firm begins work on $155m vaccine facility Muscat-based Opal Bio Pharma Company has started work on Oman’s first life-saving medicines and vaccine factory. The OMR60 million ($155.84 million) facility will cover 37,000 sq m at Khazaen Economic City and will be completed in two years. Details of the manufacturing capacity were not disclosed. Chairman Saad Moosa Al Junaibi said that the factory […] July 14, 2023
Energy PIF and Engie to collaborate on green hydrogen French utilities firm Engie and Saudi Arabia’s Public Investment Fund have signed an initial agreement to develop green hydrogen projects in the kingdom, building on Gulf ambitions to become a world leader in the fast-growing renewable energy segment. Under the memorandum of understanding signed this week, Engie and PIF will explore opportunities to jointly develop […] July 13, 2023
Analysis Banking & Finance Middle East IPO drive likely to cool in second half of 2023 The wave of listings on Middle East markets will slow down as the year progresses, with initial public offerings being pushed to 2024 instead, say industry experts. Last year 71 IPOs were completed in the Middle East, for a combined transaction value of more than $25 billion, according to S&P Global Market Intelligence. That compares […] July 10, 2023
Banking & Finance SNB plan to take 40% Credit Suisse stake halted by regulator Saudi National Bank (SNB) wanted to increase its stake in Credit Suisse, Switzerland’s second-largest bank, to 40 percent from 9.88 percent, Zürich-based Blick daily reported. However, Swiss regulator Finma stopped the bank from making the move. Finma must approve a foreign investor taking a stake of more than 10 percent in a major Swiss bank, […] July 10, 2023
Health PIF’s Lifera and Sanofi join hands to produce vaccines A subsidiary of Saudi Arabia’s sovereign wealth fund has signed an agreement to increase the local production of vaccines. Lifera, wholly owned by the Public Investment Fund (PIF), French pharma major Sanofi and Arabio, majority owned by Riyadh-based Tamer Group, will set up manufacturing facilities in the kingdom to produce vaccines for Saudi citizens. No details were […] July 7, 2023
Business of Sport Oman Air signs sponsorship with Chelsea FC Oman Air has signed a three-year sponsorship deal to become the global airline partner of English Premier League football club Chelsea. The sultanate’s flag carrier is looking to capitalise on Chelsea’s international following. The partnership will include co-branded livery, joint promotional content and corporate social responsibility campaigns. Financial details around the deal were not disclosed. […] July 6, 2023
Business of Sport PIF plans new subsidiary to boost sports investments Saudi Arabia’s Public Investment Fund (PIF) aims to establish a multi-billion-dollar investment company to expand its sports interests globally. The new entity will have a war chest to fund its expansion, the Financial Times reported, citing an informed source. The move reaffirms Riyadh’s drive to make more acquisitions, investments and joint ventures in football, tennis […] July 6, 2023
Development Saudi special economic zone plot sold for $98m The master developer of King Abdullah Economic City has announced a land sale worth SAR367 million ($98 million) as Saudi Arabia presses on with plans to create further economic zones in the kingdom. Emaar The Economic City, which is listed on Tadawul, said in a filing to the Saudi stock exchange that it has sold […] July 3, 2023
Banking & Finance Mena wealth funds sharpen up on sustainability Mena sovereign wealth funds’ efforts to improve their governance and sustainability practices to meet global standards appear to be bearing fruit, as they recorded the biggest improvement of all regions in a new analysis. Data platform Global SWF assessed the performance of 100 sovereign wealth funds and public pension funds on their governance, sustainability and […] July 3, 2023
Manufacturing Saudi-backed Lucid in EV deal with UK’s Aston Martin Saudi Arabia-backed Lucid Group has signed a deal with British luxury carmaker Aston Martin to produce high-performance electric vehicles (EVs) from 2025. The Public Investment Fund (PIF), one of the largest sovereign wealth funds in the world, owns a 65 percent stake in the US-based EV manufacturer. As part of the agreement, Lucid will supply […] June 27, 2023
