Company Insights Public Investment Fund (PIF) Finance Public Investment Fund (PIF) News Exclusive Business of Sport Saudi’s Newcastle Utd deal looks to kick start regeneration funding The purchase of Newcastle United FC by Saudi Arabia’s sovereign wealth fund could open doors to wider investments in regeneration projects in the North East of England, according to the executive director of the Saudi British Joint Business Council, who will visit the area later this month to review potential opportunities. Chris Innes-Hopkins said that […] October 7, 2022 Economy IMF head urges more Saudi reforms as economy expands The head of the International Monetary Fund (IMF) has urged Saudi Arabia to maintain its reform momentum to help achieve longer-term prosperity as the economy continued to expand during September. IMF managing director Kristalina Georgieva hailed the “impressive progress” in implementing Saudi’s Vision 2030 reform agenda, notably the doubling of the share of women in […] October 4, 2022 Real Estate New PIF firm to build mixed-use destinations in 12 Saudi cities Saudi Crown Prince Mohammed Bin Salman and chairman of the Public Investment Fund (PIF), has launched Saudi Downtown Company (SDC), which seeks to build and develop downtown areas and mixed-use destinations in 12 Saudi cities. The cities include Madinah, Al Khobar, Al Ahsa, Buraidah, Najran, Jazan, Hail, Al Baha, Arar, Taif, Dumat Al Jandal, and Tabuk. […] October 4, 2022 Economy PIF-owned Savvy Games unveils $37.8bn global ambition strategy Saudi Arabia’s Savvy Games Group, wholly-owned by the Public Investment Fund (PIF), will invest SAR 142 billion ($37.8 billion) across four programmes that aim to make the kingdom a global hub for gaming by 2030. The initiatives will include SAR 70 billion to take several minority stakes in companies that support Savvy’s game development agenda […] September 30, 2022 Banking & Finance Saudi wealth fund’s returns hit 25% in 2021 as markets recover The Public Investment Fund (PIF), the Saudi sovereign wealth fund, offered 25 percent returns to shareholders last year as global stock markets rebounded, Bloomberg reported, citing the fund’s prospectus for its debt green bond sale. Investor returns more than doubled from an annual average of 12 percent between 2017 and 2020. However, 2021 returns matched […] September 28, 2022 Analysis Economy Will latest interest hike dampen GCC’s non-oil sector recovery? GCC central banks raised their interest rates on Wednesday, in lockstep with the US Federal Reserve, raising concerns as to whether this will disincentivise borrowing in the region’s non-oil sector and result in a slowdown in the post-pandemic recovery. However, consensus among the analysts AGBI spoke to was that the impact of the current levels […] September 23, 2022 Economy New CEO named for Saudi’s $1.3trn private sector push A new CEO has been appointed to the Private Sector Partnership Reinforcement Program which aims to facilitate investments of $1.33 trillion from Saudi private sector businesses by 2030. Abdulaziz bin Abdulrahman Al-Arifi, advisor to the Secretariat General of the Cabinet and a former CEO of finance at Jadwa Investment, has been hired to lead the […] September 21, 2022 Analysis Economy Saudi capital spending surges 38% on back of higher oil prices Capital expenditure surged in Saudi Arabia in the first half of 2022, part of a wider spending spree on the back of higher oil prices. S&P Global Ratings said capital expenditure (capex) rose by 38 percent to SR51 billion ($13.6 billion) despite this year’s initial budget statement forecasting it would fall. Revenue was up 43 […] September 20, 2022 Banking & Finance PIF unit to expand New York team amid US investment drive A subsidiary of Saudi Arabia’s Public Investment Fund (PIF) is planning to hire staff for its New York office as it prepares to boost investments in the US market, Bloomberg reported, citing unnamed sources. USSA International, the wholly-owned unit of the $620 billion sovereign wealth fund, expects to hire nearly 50 staff for its New […] September 20, 2022 Energy Arabian Drilling plans to list 30% of shares on Saudi exchange Saudi Arabia-based oil and gas drilling contractor Arabian Drilling is planning an initial public offering (IPO) on the kingdom’s main exchange. The offer consists of a secondary offering of 19.89 percent of the company’s total share capital through the sale of 17.70 million shares and a primary offering of 10.11 percent via the issuance of […] September 19, 2022 Posts navigation Previous 1 … 87 88 89 … 93 Next
Exclusive Business of Sport Saudi’s Newcastle Utd deal looks to kick start regeneration funding The purchase of Newcastle United FC by Saudi Arabia’s sovereign wealth fund could open doors to wider investments in regeneration projects in the North East of England, according to the executive director of the Saudi British Joint Business Council, who will visit the area later this month to review potential opportunities. Chris Innes-Hopkins said that […] October 7, 2022
Economy IMF head urges more Saudi reforms as economy expands The head of the International Monetary Fund (IMF) has urged Saudi Arabia to maintain its reform momentum to help achieve longer-term prosperity as the economy continued to expand during September. IMF managing director Kristalina Georgieva hailed the “impressive progress” in implementing Saudi’s Vision 2030 reform agenda, notably the doubling of the share of women in […] October 4, 2022
Real Estate New PIF firm to build mixed-use destinations in 12 Saudi cities Saudi Crown Prince Mohammed Bin Salman and chairman of the Public Investment Fund (PIF), has launched Saudi Downtown Company (SDC), which seeks to build and develop downtown areas and mixed-use destinations in 12 Saudi cities. The cities include Madinah, Al Khobar, Al Ahsa, Buraidah, Najran, Jazan, Hail, Al Baha, Arar, Taif, Dumat Al Jandal, and Tabuk. […] October 4, 2022
Economy PIF-owned Savvy Games unveils $37.8bn global ambition strategy Saudi Arabia’s Savvy Games Group, wholly-owned by the Public Investment Fund (PIF), will invest SAR 142 billion ($37.8 billion) across four programmes that aim to make the kingdom a global hub for gaming by 2030. The initiatives will include SAR 70 billion to take several minority stakes in companies that support Savvy’s game development agenda […] September 30, 2022
Banking & Finance Saudi wealth fund’s returns hit 25% in 2021 as markets recover The Public Investment Fund (PIF), the Saudi sovereign wealth fund, offered 25 percent returns to shareholders last year as global stock markets rebounded, Bloomberg reported, citing the fund’s prospectus for its debt green bond sale. Investor returns more than doubled from an annual average of 12 percent between 2017 and 2020. However, 2021 returns matched […] September 28, 2022
Analysis Economy Will latest interest hike dampen GCC’s non-oil sector recovery? GCC central banks raised their interest rates on Wednesday, in lockstep with the US Federal Reserve, raising concerns as to whether this will disincentivise borrowing in the region’s non-oil sector and result in a slowdown in the post-pandemic recovery. However, consensus among the analysts AGBI spoke to was that the impact of the current levels […] September 23, 2022
Economy New CEO named for Saudi’s $1.3trn private sector push A new CEO has been appointed to the Private Sector Partnership Reinforcement Program which aims to facilitate investments of $1.33 trillion from Saudi private sector businesses by 2030. Abdulaziz bin Abdulrahman Al-Arifi, advisor to the Secretariat General of the Cabinet and a former CEO of finance at Jadwa Investment, has been hired to lead the […] September 21, 2022
Analysis Economy Saudi capital spending surges 38% on back of higher oil prices Capital expenditure surged in Saudi Arabia in the first half of 2022, part of a wider spending spree on the back of higher oil prices. S&P Global Ratings said capital expenditure (capex) rose by 38 percent to SR51 billion ($13.6 billion) despite this year’s initial budget statement forecasting it would fall. Revenue was up 43 […] September 20, 2022
Banking & Finance PIF unit to expand New York team amid US investment drive A subsidiary of Saudi Arabia’s Public Investment Fund (PIF) is planning to hire staff for its New York office as it prepares to boost investments in the US market, Bloomberg reported, citing unnamed sources. USSA International, the wholly-owned unit of the $620 billion sovereign wealth fund, expects to hire nearly 50 staff for its New […] September 20, 2022
Energy Arabian Drilling plans to list 30% of shares on Saudi exchange Saudi Arabia-based oil and gas drilling contractor Arabian Drilling is planning an initial public offering (IPO) on the kingdom’s main exchange. The offer consists of a secondary offering of 19.89 percent of the company’s total share capital through the sale of 17.70 million shares and a primary offering of 10.11 percent via the issuance of […] September 19, 2022
