Company Insights Public Investment Fund (PIF) Finance Public Investment Fund (PIF) News EXCLUSIVE Giga-projects PIF spending cuts slow giga-projects and trigger layoffs Saudi Arabia’s $925 billion Public Investment Fund (PIF) has ordered deep spending cuts across more than 100 of its companies, slowing projects and triggering layoffs, people familiar with the matter have told AGBI. The sovereign wealth fund at the heart of the government’s economic transformation strategy is mandating a minimum 20 percent reduction in 2025 […] March 24, 2025 Markets Umm Al Qura to list on Saudi bourse next week Shares of Umm Al Qura for Development and Construction (Umm Al Qura), the developer of Masar, a massive mixed-use project in the holy city of Mecca, will start trading on the Saudi stock exchange next week. The stock will be subject to a daily and static price fluctuation limit of plus or minus 30 percent and […] March 23, 2025 Analysis Renewable Energy Shortage of ‘bankable’ green energy projects stymies investment While the Middle East has seen a surge in sustainable finance initiatives, investors are struggling to find commercially viable energy projects to invest in. This is particularly the case in developing nations, according to industry experts. The financial sector in the UAE has pledged to “mobilise” AED1 trillion ($272 billion) in sustainable finance by 2030. […] March 21, 2025 Mining Gulf investors in talks to buy stake in US copper project Middle East investors are in talks with HudBay Minerals to buy a stake of as much as 30 percent in the Canadian company’s US copper project, a news report said. The stake sale in HudBay Mineral’s flagship Copper World project in Arizona has drawn interest from investors in Saudi Arabia, the UAE and Japan, Bloomberg […] March 21, 2025 Employment Gulf consulting market expected to cross $8bn this year The Gulf consulting sector is expected to outperform the rest of the world in 2025 with growth of 12 percent, twice as fast as the United States. Although the regional market is predicted to be worth more than $8 billion, growth will be at a slightly slower pace. Last year the GCC market grew by […] March 19, 2025 Analysis Employment SMEs struggle as skills shortages drive up Saudi salaries Wassim Elaify is not short of work. Quite the opposite. Indicators, the accountancy firm he manages in Riyadh, is receiving more requests to be taken on as clients from expanding Saudi companies and newly arrived international groups than it can handle. Saudi Arabia‘s non-oil economy is expanding at more than four times the rate of […] March 18, 2025 Economy S&P raises Saudi Arabia’s rating over ongoing reforms S&P Global Ratings has upgraded Saudi Arabia’s rating to “A+” from “A” with a stable outlook, citing socioeconomic and capital market reforms. Strong non-oil growth and rising oil volumes from 2025 will support medium-term growth prospects, it said. Saudi Arabia’s National Debt Management Centre welcomed the upgrade, saying it would allow the kingdom to issue […] March 17, 2025 Business of Sport PIF considers new stadium for Newcastle United Saudi Arabia’s sovereign wealth fund is considering funding a new stadium development for English Premier League (EPL) side Newcastle United, according to UK media reports. The Public Investment Fund (PIF), which has over $925 billion worth of assets, led a buyout of Newcastle in October 2021, alongside PCP Capital Partners and RB Sports & Media […] March 14, 2025 Giga-projects Saudi Arabia still needs consultants despite PwC ban Saudi Arabia’s Public Investment Fund may have banned the global professional services giant PwC from any new advisory work for the next year, but the kingdom still needs all the help it can get, according to analysts. The country is spending billions of dollars on infrastructure and other projects as it attempts to diversify its […] March 13, 2025 Retail PIF launches Saudi Arabia’s first duty-free retailer The Public Investment Fund (PIF) has launched Saudi Arabia’s first duty-free operator as the kingdom targets 150 million annual visitors by the end of the decade, according to a statement. Al Waha Duty-Free Company (Al Waha), a wholly owned unit of the sovereign fund, aims to secure a “large” share of passenger spending to boost […] March 11, 2025 Posts navigation Previous 1 … 5 6 7 … 95 Next
EXCLUSIVE Giga-projects PIF spending cuts slow giga-projects and trigger layoffs Saudi Arabia’s $925 billion Public Investment Fund (PIF) has ordered deep spending cuts across more than 100 of its companies, slowing projects and triggering layoffs, people familiar with the matter have told AGBI. The sovereign wealth fund at the heart of the government’s economic transformation strategy is mandating a minimum 20 percent reduction in 2025 […] March 24, 2025
Markets Umm Al Qura to list on Saudi bourse next week Shares of Umm Al Qura for Development and Construction (Umm Al Qura), the developer of Masar, a massive mixed-use project in the holy city of Mecca, will start trading on the Saudi stock exchange next week. The stock will be subject to a daily and static price fluctuation limit of plus or minus 30 percent and […] March 23, 2025
Analysis Renewable Energy Shortage of ‘bankable’ green energy projects stymies investment While the Middle East has seen a surge in sustainable finance initiatives, investors are struggling to find commercially viable energy projects to invest in. This is particularly the case in developing nations, according to industry experts. The financial sector in the UAE has pledged to “mobilise” AED1 trillion ($272 billion) in sustainable finance by 2030. […] March 21, 2025
Mining Gulf investors in talks to buy stake in US copper project Middle East investors are in talks with HudBay Minerals to buy a stake of as much as 30 percent in the Canadian company’s US copper project, a news report said. The stake sale in HudBay Mineral’s flagship Copper World project in Arizona has drawn interest from investors in Saudi Arabia, the UAE and Japan, Bloomberg […] March 21, 2025
Employment Gulf consulting market expected to cross $8bn this year The Gulf consulting sector is expected to outperform the rest of the world in 2025 with growth of 12 percent, twice as fast as the United States. Although the regional market is predicted to be worth more than $8 billion, growth will be at a slightly slower pace. Last year the GCC market grew by […] March 19, 2025
Analysis Employment SMEs struggle as skills shortages drive up Saudi salaries Wassim Elaify is not short of work. Quite the opposite. Indicators, the accountancy firm he manages in Riyadh, is receiving more requests to be taken on as clients from expanding Saudi companies and newly arrived international groups than it can handle. Saudi Arabia‘s non-oil economy is expanding at more than four times the rate of […] March 18, 2025
Economy S&P raises Saudi Arabia’s rating over ongoing reforms S&P Global Ratings has upgraded Saudi Arabia’s rating to “A+” from “A” with a stable outlook, citing socioeconomic and capital market reforms. Strong non-oil growth and rising oil volumes from 2025 will support medium-term growth prospects, it said. Saudi Arabia’s National Debt Management Centre welcomed the upgrade, saying it would allow the kingdom to issue […] March 17, 2025
Business of Sport PIF considers new stadium for Newcastle United Saudi Arabia’s sovereign wealth fund is considering funding a new stadium development for English Premier League (EPL) side Newcastle United, according to UK media reports. The Public Investment Fund (PIF), which has over $925 billion worth of assets, led a buyout of Newcastle in October 2021, alongside PCP Capital Partners and RB Sports & Media […] March 14, 2025
Giga-projects Saudi Arabia still needs consultants despite PwC ban Saudi Arabia’s Public Investment Fund may have banned the global professional services giant PwC from any new advisory work for the next year, but the kingdom still needs all the help it can get, according to analysts. The country is spending billions of dollars on infrastructure and other projects as it attempts to diversify its […] March 13, 2025
Retail PIF launches Saudi Arabia’s first duty-free retailer The Public Investment Fund (PIF) has launched Saudi Arabia’s first duty-free operator as the kingdom targets 150 million annual visitors by the end of the decade, according to a statement. Al Waha Duty-Free Company (Al Waha), a wholly owned unit of the sovereign fund, aims to secure a “large” share of passenger spending to boost […] March 11, 2025
