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Public Investment Fund (PIF)

Public Investment Fund (PIF) News

In April, the Saudi ministry of finance entered into an agreement with Lucid to purchase at least 50,000 and potentially up to 100,000 Lucid vehicles over a 10-year period

43 billion reasons why the US is key to Saudi’s wealth fund

Saudi Arabia’s Public Investment Fund (PIF) is expected to continue with an investment strategy of “bargain hunting” in the United States but will likely deploy some caution, given current volatility in the US stock market.   US president Joe Biden’s visit to the kingdom is an opportunity to strengthen bilateral business ties, commentators told AGBI, and […]

Hilton opened the DoubleTree in Riyadh this year as it expands its hotel portfolio in the Gulf

US firms invest billions as Saudi appeal grows

American businessmen first travelled to Saudi Arabia back in the 1930s to help develop the kingdom’s natural resources. Fast forward 90 years and, with record foreign investment licences issued in Saudi Arabia in the first quarter of 2022 and the country’s gross domestic product (GDP) growing at its fastest rate in a decade, it’s little […]

Anthony Joshua lost his titles to Oleksandr Usyk when they first met last year

Saudi to host Joshua-Usyk heavyweight title rematch

Saudi Arabia confirmed today that it will host the world heavyweight boxing clash between champion Oleksandr Usyk and Anthony Joshua on August 20 as the kingdom cements its status as a global sporting destination.  In a statement, the Ministry of Sports announced that the Red Sea city of Jeddah will host the rematch between the […]

Around 90 percent of clean energy spending comes from advanced economies and China

ACWA places faith in hydrogen to power Saudi’s future

Saudi Arabia, the world’s top oil exporter, has grand ambitions to become the globe’s number one producer of green hydrogen. The kingdom is aiming to produce around four million tonnes of the gas by 2030 as part of Saudi Crown Prince Mohammed bin Salman’s (MbS) Vision 2030 to diversify the economy. Green hydrogen is set […]

Powering up electric vehicles in Saudi

Electric vehicles (EVs) are a rare sight on the streets of Riyadh or Jeddah in Saudi Arabia. This is partly due to a lack of charging infrastructure but mainly because commercial sales have yet to start – the only EVs in evidence are ones that individuals have privately imported. “You see the odd Tesla or […]

Dustin Johnson, at No 13 in the world, is the highest ranked player in the field and stands to earn $125 million from the series

LIV Golf tees off amid smears and controversy

Rival PGA Tour bans players for chasing ‘boatloads of cash’ Heated politics have overshadowed play in what is fast becoming golf’s most controversial tournament in history – the Saudi Arabian-funded LIV Golf Series. Teeing off on June 9, the LIV Series’ inaugural UK event clashed directly with the start of the RBC Canadian Open, an […]