Company Insights Public Investment Fund (PIF) Finance Public Investment Fund (PIF) News Banking and Finance Standard Chartered not expecting further FAB approach The boss of British bank Standard Chartered does not anticipate a further acquisition approach from First Abu Dhabi Bank as a six-month cooling off period required by UK takeover rules comes to an end. The London-listed bank has been the subject of speculation this year around a possible sale to FAB, the UAE’s biggest lender. […] July 31, 2023 Business of Sport Newcastle winger Saint-Maximin joins Saudi club Newcastle United winger Allan Saint-Maximin has joined Saudi Pro League side Al-Ahli on a three-year deal. “We pick the best, and he’s one of them,” Al-Ahli said on social media messaging platform X. The transfer fee for the 26-year-old was not disclosed. The winger will team up with former Premier League players Roberto Firmino, Edouard […] July 31, 2023 Banking and Finance Saudi Telecom’s H1 revenue hits record high at $9.7bn Revenues of Saudi Telecom Company (STC), the largest mobile operator in Saudi Arabia, hit a record-high of SAR36.5 billion ($9.73 billion) in the first half of 2023, up 8 percent year on year. Net profit for the period grew by 4.2 percent year on year to SAR6.12 billion, the company said in a filing to […] July 31, 2023 Opinion Lifestyle Air-kisses and trees: all part of Saudi Arabia’s welcome Inside Riyadh’s astonishing, ongoing transformation July 28, 2023 Tourism PIF launches investment firm targeting domestic tourism Saudi Arabia’s Public Investment Fund (PIF) has launched the Saudi Tourism Investment Company (Asfar) as the kingdom aims to attract 100 million domestic and international visitors annually by 2030. The new entity will invest in new tourism projects and develop destinations with hospitality and retail attractions in cities across the kingdom, in addition to investing […] July 28, 2023 Development Saudi venture buys 10% of world’s largest copper maker Manara Minerals, a joint venture between Saudi Arabian Mining Co (Ma’aden) and the sovereign Public Investment Fund (PIF), will acquire a stake in Brazilian miner Vale’s subsidiary. Manara Minerals will buy 10 percent of Vale Base Metals Limited (VBM), while US investment firm Engine No. 1 will acquire three percent. The two agreements are worth […] July 28, 2023 Exclusive Energy Acwa Power bids to turbocharge Saudi’s green targets When it comes to the green transition, Saudi Arabia has got some catching up to do. The country is targeting a 50-50 split in electricity generation between renewables and gas by 2030, but in 2021 just 0.2 percent of electricity came from renewable sources. To achieve this Vision 2030 goal, the country has tasked its […] July 28, 2023 Banking and Finance PIF seeks $5bn investments in Oman Saudi Arabia’s sovereign wealth fund, PIF, has signed a memorandum of understanding with its Omani counterpart to seek out investments in Oman worth $5 billion. The agreement aims to support the expansion of investment and cooperation between PIF and its portfolio companies with the Oman Investment Authority (OIA), said a PIF announcement on Thursday. The […] July 27, 2023 Banking and Finance Abu Dhabi asset manager plans $250m carbon fund Offset8 Capital, an Abu Dhabi asset management company, is planning to raise $250 million for a carbon investment fund focused on financing climate mitigation and adaptation projects. Proposed investments will aim to support local communities in Africa and Southeast Asia on projects involving mangrove restoration, reforestation and biochar. Offset8, which is based in the financial […] July 27, 2023 Economy Saudi 2023 growth forecast cut to 1.9% by IMF The International Monetary Fund (IMF) has cut Saudi’s 2023 GDP forecast to 1.9 percent, as the kingdom’s oil production cuts weigh on its economic performance. Industry experts do not see this impacting the kingdom’s investment drive and the development of its massive slate of giga-projects. It may lead to further debt issuance to finance any […] July 26, 2023 Posts navigation Previous 1 … 71 72 73 … 96 Next
Banking and Finance Standard Chartered not expecting further FAB approach The boss of British bank Standard Chartered does not anticipate a further acquisition approach from First Abu Dhabi Bank as a six-month cooling off period required by UK takeover rules comes to an end. The London-listed bank has been the subject of speculation this year around a possible sale to FAB, the UAE’s biggest lender. […] July 31, 2023
Business of Sport Newcastle winger Saint-Maximin joins Saudi club Newcastle United winger Allan Saint-Maximin has joined Saudi Pro League side Al-Ahli on a three-year deal. “We pick the best, and he’s one of them,” Al-Ahli said on social media messaging platform X. The transfer fee for the 26-year-old was not disclosed. The winger will team up with former Premier League players Roberto Firmino, Edouard […] July 31, 2023
Banking and Finance Saudi Telecom’s H1 revenue hits record high at $9.7bn Revenues of Saudi Telecom Company (STC), the largest mobile operator in Saudi Arabia, hit a record-high of SAR36.5 billion ($9.73 billion) in the first half of 2023, up 8 percent year on year. Net profit for the period grew by 4.2 percent year on year to SAR6.12 billion, the company said in a filing to […] July 31, 2023
Opinion Lifestyle Air-kisses and trees: all part of Saudi Arabia’s welcome Inside Riyadh’s astonishing, ongoing transformation July 28, 2023
Tourism PIF launches investment firm targeting domestic tourism Saudi Arabia’s Public Investment Fund (PIF) has launched the Saudi Tourism Investment Company (Asfar) as the kingdom aims to attract 100 million domestic and international visitors annually by 2030. The new entity will invest in new tourism projects and develop destinations with hospitality and retail attractions in cities across the kingdom, in addition to investing […] July 28, 2023
Development Saudi venture buys 10% of world’s largest copper maker Manara Minerals, a joint venture between Saudi Arabian Mining Co (Ma’aden) and the sovereign Public Investment Fund (PIF), will acquire a stake in Brazilian miner Vale’s subsidiary. Manara Minerals will buy 10 percent of Vale Base Metals Limited (VBM), while US investment firm Engine No. 1 will acquire three percent. The two agreements are worth […] July 28, 2023
Exclusive Energy Acwa Power bids to turbocharge Saudi’s green targets When it comes to the green transition, Saudi Arabia has got some catching up to do. The country is targeting a 50-50 split in electricity generation between renewables and gas by 2030, but in 2021 just 0.2 percent of electricity came from renewable sources. To achieve this Vision 2030 goal, the country has tasked its […] July 28, 2023
Banking and Finance PIF seeks $5bn investments in Oman Saudi Arabia’s sovereign wealth fund, PIF, has signed a memorandum of understanding with its Omani counterpart to seek out investments in Oman worth $5 billion. The agreement aims to support the expansion of investment and cooperation between PIF and its portfolio companies with the Oman Investment Authority (OIA), said a PIF announcement on Thursday. The […] July 27, 2023
Banking and Finance Abu Dhabi asset manager plans $250m carbon fund Offset8 Capital, an Abu Dhabi asset management company, is planning to raise $250 million for a carbon investment fund focused on financing climate mitigation and adaptation projects. Proposed investments will aim to support local communities in Africa and Southeast Asia on projects involving mangrove restoration, reforestation and biochar. Offset8, which is based in the financial […] July 27, 2023
Economy Saudi 2023 growth forecast cut to 1.9% by IMF The International Monetary Fund (IMF) has cut Saudi’s 2023 GDP forecast to 1.9 percent, as the kingdom’s oil production cuts weigh on its economic performance. Industry experts do not see this impacting the kingdom’s investment drive and the development of its massive slate of giga-projects. It may lead to further debt issuance to finance any […] July 26, 2023
