Company Insights Public Investment Fund (PIF) Finance Public Investment Fund (PIF) News Economy New Saudi methodology doubles 2023 FDI inflow Saudi Arabia revised upward its foreign direct investment numbers this week, doubling the FDI inflow figure for 2023 to $25.5 billion according to a new government methodology. The kingdom has a target of $100 billion in annual FDI inflows by 2030 but low numbers have put extra pressure on the Public Investment Fund to fund […] October 24, 2024 Renewable Energy Hydrogen taxis to hit the road in Saudi Arabian trial Saudi Arabia has announced a trial operation of its first hydrogen powered taxi. The Transport General Authority (TGA) said the pilot phase will use Toyota Mirai vehicles, as it seeks to reduce carbon emissions and reduce reliance on internal combustion engine vehicles. The emission-free Toyota Mirai car has a range of 350 kilometres and the […] October 24, 2024 Opinion Banking and Finance IMF proves Saudi banks have reasons for optimism Over the long term the kingdom’s banks will benefit from the scale of spending on Vision 2030 projects October 23, 2024 Analysis Banking and Finance Saudi Arabia pumps funding into startups as it vies for Mena No 1 Saudi Arabia is piling money and government support into its venture capital industry as it competes with the UAE to attract startups. The VC market across the Middle East and North Africa raised $1.3 billion from January to September 2024 – and Saudi Arabia “led the region”, said startup analyst Magnitt. The kingdom secured “39 […] October 22, 2024 Logistics More freighters on order at Emirates Emirates, Dubai’s flagship airline, has ordered more freighters in a push to expand its cargo operations, reports in local and international media said. The airline has ordered five Boeing 777 freighters, which are due to be delivered from 2025/2026 and brings the total number of 777 freighters on order to 14. “Demand for Emirates’ air […] October 21, 2024 Giga-projects PIF launches company to build worker accommodation Saudi Arabia’s Public Investment Fund (PIF) has established a company to develop and operate accommodation for workers employed on major projects in the kingdom. Smart Accommodation for Residential Complexes Company (Sarcc) will build workers’ accommodation for both public and private sector developers who are working on projects across the country. Sarcc will also seek opportunities […] October 21, 2024 Analysis Health Health sector next target for Saudi private equity Private equity is looking to Saudi Arabia’s healthcare and wellness sectors for the kingdom’s next growth areas as it tries to manage a burgeoning young population. Some 60 percent of Saudi Arabia’s 32 million-plus population are under 30, and analysts from research company S&P say the kingdom’s demographics are the main reason for a sustainable […] October 21, 2024 Markets Neom-backed robotaxi operator Pony Ai files for US IPO Pony AI, a Chinese autonomous driving company backed by an investment arm of Saudi giga-project Neom, has filed for an initial public offering in the US. The Guangzhou-based company applied to be listed on the Nasdaq stock exchange but did not reveal the size of the offering. Pony AI operates a fleet of more than […] October 18, 2024 Analysis Energy Energy security at centre of EU-GCC collaboration The European Union and the GCC held their first summit this week, where they committed to “greater cooperation on energy security, including energy efficiency and renewable energies and hydrogen”, the parties said in a joint statement. The EU wants to strengthen its energy security by cementing ties with the GCC, following European states’ decision to […] October 18, 2024 Manufacturing PIF-backed Lucid shares tumble on anticipated Q3 losses Shares of Saudi-backed US luxury electric vehicle maker Lucid fell more than 12 percent in pre-market trading on Thursday. The drop came after the company announced it anticipates reporting a larger-than-expected loss for the third quarter and a public offering of more than 262 million shares. Saudi Arabia’s Public Investment Fund, already a majority shareholder […] October 17, 2024 Posts navigation Previous 1 … 24 25 26 … 95 Next
Economy New Saudi methodology doubles 2023 FDI inflow Saudi Arabia revised upward its foreign direct investment numbers this week, doubling the FDI inflow figure for 2023 to $25.5 billion according to a new government methodology. The kingdom has a target of $100 billion in annual FDI inflows by 2030 but low numbers have put extra pressure on the Public Investment Fund to fund […] October 24, 2024
Renewable Energy Hydrogen taxis to hit the road in Saudi Arabian trial Saudi Arabia has announced a trial operation of its first hydrogen powered taxi. The Transport General Authority (TGA) said the pilot phase will use Toyota Mirai vehicles, as it seeks to reduce carbon emissions and reduce reliance on internal combustion engine vehicles. The emission-free Toyota Mirai car has a range of 350 kilometres and the […] October 24, 2024
Opinion Banking and Finance IMF proves Saudi banks have reasons for optimism Over the long term the kingdom’s banks will benefit from the scale of spending on Vision 2030 projects October 23, 2024
Analysis Banking and Finance Saudi Arabia pumps funding into startups as it vies for Mena No 1 Saudi Arabia is piling money and government support into its venture capital industry as it competes with the UAE to attract startups. The VC market across the Middle East and North Africa raised $1.3 billion from January to September 2024 – and Saudi Arabia “led the region”, said startup analyst Magnitt. The kingdom secured “39 […] October 22, 2024
Logistics More freighters on order at Emirates Emirates, Dubai’s flagship airline, has ordered more freighters in a push to expand its cargo operations, reports in local and international media said. The airline has ordered five Boeing 777 freighters, which are due to be delivered from 2025/2026 and brings the total number of 777 freighters on order to 14. “Demand for Emirates’ air […] October 21, 2024
Giga-projects PIF launches company to build worker accommodation Saudi Arabia’s Public Investment Fund (PIF) has established a company to develop and operate accommodation for workers employed on major projects in the kingdom. Smart Accommodation for Residential Complexes Company (Sarcc) will build workers’ accommodation for both public and private sector developers who are working on projects across the country. Sarcc will also seek opportunities […] October 21, 2024
Analysis Health Health sector next target for Saudi private equity Private equity is looking to Saudi Arabia’s healthcare and wellness sectors for the kingdom’s next growth areas as it tries to manage a burgeoning young population. Some 60 percent of Saudi Arabia’s 32 million-plus population are under 30, and analysts from research company S&P say the kingdom’s demographics are the main reason for a sustainable […] October 21, 2024
Markets Neom-backed robotaxi operator Pony Ai files for US IPO Pony AI, a Chinese autonomous driving company backed by an investment arm of Saudi giga-project Neom, has filed for an initial public offering in the US. The Guangzhou-based company applied to be listed on the Nasdaq stock exchange but did not reveal the size of the offering. Pony AI operates a fleet of more than […] October 18, 2024
Analysis Energy Energy security at centre of EU-GCC collaboration The European Union and the GCC held their first summit this week, where they committed to “greater cooperation on energy security, including energy efficiency and renewable energies and hydrogen”, the parties said in a joint statement. The EU wants to strengthen its energy security by cementing ties with the GCC, following European states’ decision to […] October 18, 2024
Manufacturing PIF-backed Lucid shares tumble on anticipated Q3 losses Shares of Saudi-backed US luxury electric vehicle maker Lucid fell more than 12 percent in pre-market trading on Thursday. The drop came after the company announced it anticipates reporting a larger-than-expected loss for the third quarter and a public offering of more than 262 million shares. Saudi Arabia’s Public Investment Fund, already a majority shareholder […] October 17, 2024
