Company Insights Public Investment Fund (PIF) Finance Public Investment Fund (PIF) News Exclusive Aviation IATA chief: Boeing and Airbus woes are a win for jet leasing Aircraft leasing companies in the Arabian Gulf are profiting from prolonged delivery delays at aircraft makers Boeing and Airbus, with order backlogs at the manufacturers unlikely to clear before the end of the decade. “These [aircraft leasing] guys are in a fantastic position because they have a fantastic fleet of aircraft,” Willie Walsh, director general […] April 16, 2025 Artificial Intelligence Aramco backs Riyadh-based construction AI startup Saudi Aramco’s venture arm has led a $1 million seed funding round for TruBuild, a construction technology startup based in Riyadh that uses artificial intelligence to cut project delays and cost overruns. “With growing scrutiny on giga-project timelines and budgets, there’s a clear urgency to prevent costly delays and rework,” Bisrat Degefa, CEO of TruBuild, […] April 16, 2025 Giga-projects Red Sea giga-project launches new island despite PIF budget cuts Saudi Arabia’s Red Sea Global has launched its first island development on the $23.6 billion Red Sea giga-project. The opening comes despite the $925 billion Public Investment Fund ordering deep spending cuts across more than 100 of its companies, as AGBI reported last month. Some budgets have been cut by as much as 60 percent, sources said, […] April 16, 2025 Transport 2026 launch on track for Lucid’s midsize electric SUVs EV maker Lucid is on track to launch its midsize electric SUV in 2026, as it looks to tap an increasingly competitive segment dominated by rival Tesla’s bestselling Model Y crossover. “There are a lot of crazy things going on in the world that can affect that [timeline]. But currently we are on track,” said Lucid […] April 16, 2025 Business of Sport Saudi Arabia explores options to own F1 team Owning a Formula 1 team could be the next step for Saudi Arabia after sponsoring the sport and hosting a grand prix, according to the chairman of the kingdom’s automobile and motorcycle federation. Prince Khalid Bin Sultan Al-Abdullah Al-Faisal told reporters in a video call ahead of this weekend’s race in Jeddah that the interest […] April 16, 2025 Analysis Transport Tesla trumpets Saudi launch but China is waiting Tesla’s well-publicised launch event in the Saudi capital, Riyadh, last week attracted a large and boisterous crowd. But the competition is stiff, especially from the Chinese, now the world’s largest maker of EVs, and the charging infrastructure for electric-powered vehicles in the world’s second-largest oil producer is still lacking. Saudi Arabia wants 30 percent of […] April 14, 2025 Gaming Riyadh offers record prize pool at Esports World Cup Riyadh will host the Esports World Cup this summer, offering a record prize pool of more than $70 million as the kingdom aims to become a global gaming centre. The tournament, which will run from July 7 through August 24, includes 24 games this season, adding chess and shooting games such as Crossfire, Fatal Fury: […] April 11, 2025 Business of Sport Former Saudi owner of English soccer club returns to pitch The former Saudi royal owner of the English Championship side Sheffield United, Prince Abdullah bin Mosaad bin Abdulaziz Al Saud, is returning to the football market with a sports investment fund worth as much as SAR1 billion ($266 million). Prince Abdullah told the Sports Investment Forum in Riyadh this week that his group intends to […] April 10, 2025 Editor's Insight Trade Few good options for US-GCC trade – but options nonetheless It is often said that US trading partners have few good options when it comes to dealing with President Trump’s “liberation day” last week. Few good options, yes, but the members of the Gulf Cooperation Council at least have options. Oil and gas are excluded from the new tariff regime – if one can call a bookie’s […] April 10, 2025 Finance Sanabil leads $110m funding for Saudi-Bangladesh startup Sanabil Investments, a venture capital arm of Saudi Arabia’s Public Investment Fund, has made its first investment in South Asia. The PIF unit and the US venture capital fund Valar Ventures, which was co-founded by Peter Thiel, the co-founder of Paypal, are jointly leading the $110 million funding round for SILQ Group, a new e-commerce platform, […] April 10, 2025 Posts navigation Previous 1 2 3 4 … 94 Next
Exclusive Aviation IATA chief: Boeing and Airbus woes are a win for jet leasing Aircraft leasing companies in the Arabian Gulf are profiting from prolonged delivery delays at aircraft makers Boeing and Airbus, with order backlogs at the manufacturers unlikely to clear before the end of the decade. “These [aircraft leasing] guys are in a fantastic position because they have a fantastic fleet of aircraft,” Willie Walsh, director general […] April 16, 2025
Artificial Intelligence Aramco backs Riyadh-based construction AI startup Saudi Aramco’s venture arm has led a $1 million seed funding round for TruBuild, a construction technology startup based in Riyadh that uses artificial intelligence to cut project delays and cost overruns. “With growing scrutiny on giga-project timelines and budgets, there’s a clear urgency to prevent costly delays and rework,” Bisrat Degefa, CEO of TruBuild, […] April 16, 2025
Giga-projects Red Sea giga-project launches new island despite PIF budget cuts Saudi Arabia’s Red Sea Global has launched its first island development on the $23.6 billion Red Sea giga-project. The opening comes despite the $925 billion Public Investment Fund ordering deep spending cuts across more than 100 of its companies, as AGBI reported last month. Some budgets have been cut by as much as 60 percent, sources said, […] April 16, 2025
Transport 2026 launch on track for Lucid’s midsize electric SUVs EV maker Lucid is on track to launch its midsize electric SUV in 2026, as it looks to tap an increasingly competitive segment dominated by rival Tesla’s bestselling Model Y crossover. “There are a lot of crazy things going on in the world that can affect that [timeline]. But currently we are on track,” said Lucid […] April 16, 2025
Business of Sport Saudi Arabia explores options to own F1 team Owning a Formula 1 team could be the next step for Saudi Arabia after sponsoring the sport and hosting a grand prix, according to the chairman of the kingdom’s automobile and motorcycle federation. Prince Khalid Bin Sultan Al-Abdullah Al-Faisal told reporters in a video call ahead of this weekend’s race in Jeddah that the interest […] April 16, 2025
Analysis Transport Tesla trumpets Saudi launch but China is waiting Tesla’s well-publicised launch event in the Saudi capital, Riyadh, last week attracted a large and boisterous crowd. But the competition is stiff, especially from the Chinese, now the world’s largest maker of EVs, and the charging infrastructure for electric-powered vehicles in the world’s second-largest oil producer is still lacking. Saudi Arabia wants 30 percent of […] April 14, 2025
Gaming Riyadh offers record prize pool at Esports World Cup Riyadh will host the Esports World Cup this summer, offering a record prize pool of more than $70 million as the kingdom aims to become a global gaming centre. The tournament, which will run from July 7 through August 24, includes 24 games this season, adding chess and shooting games such as Crossfire, Fatal Fury: […] April 11, 2025
Business of Sport Former Saudi owner of English soccer club returns to pitch The former Saudi royal owner of the English Championship side Sheffield United, Prince Abdullah bin Mosaad bin Abdulaziz Al Saud, is returning to the football market with a sports investment fund worth as much as SAR1 billion ($266 million). Prince Abdullah told the Sports Investment Forum in Riyadh this week that his group intends to […] April 10, 2025
Editor's Insight Trade Few good options for US-GCC trade – but options nonetheless It is often said that US trading partners have few good options when it comes to dealing with President Trump’s “liberation day” last week. Few good options, yes, but the members of the Gulf Cooperation Council at least have options. Oil and gas are excluded from the new tariff regime – if one can call a bookie’s […] April 10, 2025
Finance Sanabil leads $110m funding for Saudi-Bangladesh startup Sanabil Investments, a venture capital arm of Saudi Arabia’s Public Investment Fund, has made its first investment in South Asia. The PIF unit and the US venture capital fund Valar Ventures, which was co-founded by Peter Thiel, the co-founder of Paypal, are jointly leading the $110 million funding round for SILQ Group, a new e-commerce platform, […] April 10, 2025
