Company Insights Public Investment Fund (PIF) Public Investment Fund (PIF) News Finance $500m Aldar green bond ‘four times oversubscribed’ Aldar Investment Properties – a subsidiary of Abu Dhabi’s biggest real estate developer Aldar Properties – has launched a $500 million 10-year green debut Islamic bond, it said in a stock market filing on Thursday. The issuance marks Aldar Properties’ first return to international capital markets since 2019, when it launched its debut 10-year sukuk, […] May 18, 2023 Aviation Staff bonus gives Emirates lift-off in recruitment stakes The sizeable bonus awarded by Emirates to its staff will give the Dubai airline a significant tailwind as competition for talent takes off across the region. According to an email from the company’s chairman and chief executive, Sheikh Ahmed bin Saeed Al Maktoum, employees have been given a 24-week bonus this month. It comes after […] May 16, 2023 Analysis Business of Sport US sports the latest goal for Mena investors The $500 billion American sports market could be the next target for Middle East investors, analysts have said, as two more NBA teams unveil plans to play pre-season games in the UAE. The Dallas Mavericks will face the Minnesota Timberwolves at the Etihad Arena in Abu Dhabi in October this year. They follow in the […] May 14, 2023 Manufacturing Saudi funding fails to stem $780m losses at Lucid Electric vehicle maker Lucid Group’s losses continue to widen despite the Saudi government extending $2.4 billion in funding last year. Lucid, in which the Saudi sovereign wealth fund, the PIF, owns a 65 percent stake, reported a first-quarter net loss for 2023 of $779.5 million, a year-on-year increase of 28.8 percent. “I believe that there […] May 10, 2023 Video length: 02:49 Video Red Sea Global considering public listing Red Sea Global, the developer behind one of Saudi Arabia’s biggest gigaprojects, is studying the possibility of a public market offering, a senior executive said. “There will be some kind of public market event, whether it’s an initial public offering, whether it’s an establishment of a REIT [real estate investment trust], those are things that […] May 8, 2023 Video length: 02:49 Video Tourism Red Sea Global to spend $20bn by 2024 Red Sea Global will open its first hotels this year at the new Saudi Arabian tourist destinations, Red Sea Project and Amaala. The company, owned by Saudi sovereign wealth fund PIF, has spent $5 billion so far, according to its CEO, and will be spending another $15 billion by 2024. “Between Red Sea and Amaala, […] May 3, 2023 Video length: 02:33 Aviation Saudi tenders for new low-cost carrier in Dammam Saudi Arabia has issued a public tender for another airline to operate in the kingdom. Two new airlines have already been announced in the country this year – Riyadh Air and Neom Airlines. And the General Authority of Civil Aviation is looking to introduce one more. The tender invites investors “wishing to obtain a national […] May 3, 2023 Video length: 02:33 Aviation Saudi low-cost airline budgets for expansion Saudi Arabia’s Flyadeal is set to add four new aircraft to its fleet this year as it realises its international ambitions. The budget carrier, owned by Saudia, the kingdom’s flagship operator, was launched in 2017 to serve the domestic market and is now the second largest operator in the country behind Saudia. Flyadeal launched international […] May 2, 2023 Finance SNB’s Credit Suisse holding to convert to 0.5% of UBS Saudi National Bank’s (SNB) 9.88 percent shareholding in investment bank Credit Suisse will convert to nearly 0.5 percent of UBS following the merger of the two Switzerland-based lenders. The Saudi bank, a top shareholder in Credit Suisse, said the Swiss lender’s investment carrying value declined 70 percent to SAR1.3 billion ($346.63 million) as of March […] May 2, 2023 Manufacturing Saudi and Chinese firms ink pact for steel plate complex Saudi energy and chemicals major Aramco, sovereign Public Investment Fund (PIF) and China’s Baoshan Iron & Steel Co., Ltd. (Baosteel) have signed an agreement to establish an integrated steel plate manufacturing complex in the kingdom. The joint venture complex is expected to be developed in Ras Al Khair Industrial City, one of the four new […] May 2, 2023 Posts navigation Previous 1 … 76 77 78 … 95 Next
Finance $500m Aldar green bond ‘four times oversubscribed’ Aldar Investment Properties – a subsidiary of Abu Dhabi’s biggest real estate developer Aldar Properties – has launched a $500 million 10-year green debut Islamic bond, it said in a stock market filing on Thursday. The issuance marks Aldar Properties’ first return to international capital markets since 2019, when it launched its debut 10-year sukuk, […] May 18, 2023
Aviation Staff bonus gives Emirates lift-off in recruitment stakes The sizeable bonus awarded by Emirates to its staff will give the Dubai airline a significant tailwind as competition for talent takes off across the region. According to an email from the company’s chairman and chief executive, Sheikh Ahmed bin Saeed Al Maktoum, employees have been given a 24-week bonus this month. It comes after […] May 16, 2023
Analysis Business of Sport US sports the latest goal for Mena investors The $500 billion American sports market could be the next target for Middle East investors, analysts have said, as two more NBA teams unveil plans to play pre-season games in the UAE. The Dallas Mavericks will face the Minnesota Timberwolves at the Etihad Arena in Abu Dhabi in October this year. They follow in the […] May 14, 2023
Manufacturing Saudi funding fails to stem $780m losses at Lucid Electric vehicle maker Lucid Group’s losses continue to widen despite the Saudi government extending $2.4 billion in funding last year. Lucid, in which the Saudi sovereign wealth fund, the PIF, owns a 65 percent stake, reported a first-quarter net loss for 2023 of $779.5 million, a year-on-year increase of 28.8 percent. “I believe that there […] May 10, 2023
Video length: 02:49 Video Red Sea Global considering public listing Red Sea Global, the developer behind one of Saudi Arabia’s biggest gigaprojects, is studying the possibility of a public market offering, a senior executive said. “There will be some kind of public market event, whether it’s an initial public offering, whether it’s an establishment of a REIT [real estate investment trust], those are things that […] May 8, 2023
Video length: 02:49 Video Tourism Red Sea Global to spend $20bn by 2024 Red Sea Global will open its first hotels this year at the new Saudi Arabian tourist destinations, Red Sea Project and Amaala. The company, owned by Saudi sovereign wealth fund PIF, has spent $5 billion so far, according to its CEO, and will be spending another $15 billion by 2024. “Between Red Sea and Amaala, […] May 3, 2023
Video length: 02:33 Aviation Saudi tenders for new low-cost carrier in Dammam Saudi Arabia has issued a public tender for another airline to operate in the kingdom. Two new airlines have already been announced in the country this year – Riyadh Air and Neom Airlines. And the General Authority of Civil Aviation is looking to introduce one more. The tender invites investors “wishing to obtain a national […] May 3, 2023
Video length: 02:33 Aviation Saudi low-cost airline budgets for expansion Saudi Arabia’s Flyadeal is set to add four new aircraft to its fleet this year as it realises its international ambitions. The budget carrier, owned by Saudia, the kingdom’s flagship operator, was launched in 2017 to serve the domestic market and is now the second largest operator in the country behind Saudia. Flyadeal launched international […] May 2, 2023
Finance SNB’s Credit Suisse holding to convert to 0.5% of UBS Saudi National Bank’s (SNB) 9.88 percent shareholding in investment bank Credit Suisse will convert to nearly 0.5 percent of UBS following the merger of the two Switzerland-based lenders. The Saudi bank, a top shareholder in Credit Suisse, said the Swiss lender’s investment carrying value declined 70 percent to SAR1.3 billion ($346.63 million) as of March […] May 2, 2023
Manufacturing Saudi and Chinese firms ink pact for steel plate complex Saudi energy and chemicals major Aramco, sovereign Public Investment Fund (PIF) and China’s Baoshan Iron & Steel Co., Ltd. (Baosteel) have signed an agreement to establish an integrated steel plate manufacturing complex in the kingdom. The joint venture complex is expected to be developed in Ras Al Khair Industrial City, one of the four new […] May 2, 2023
