Company Insights Public Investment Fund (PIF) Finance Public Investment Fund (PIF) News Video length: 02:33 Aviation Qatar Airways CEO plays down threat of competition The CEO of Qatar Airways has said he is “very excited” by the growth of Saudi Arabia’s aviation industry, despite the prospect of tougher competition as regional airline capacity increases. “We will co-operate with them, we will support them, because we feel that relationships matter and there is a lot of business to go around […] May 2, 2023 Tourism Saudi Arabia’s wealth fund in talks to buy stake in Flynas Saudi Arabia’s Public Investment Fund (PIF) is in talks to buy a stake in Flynas, a Riyadh-headquartered low-cost carrier, Bloomberg reported, citing informed sources. Goldman Sachs Group is advising shareholders on the potential sale to the sovereign fund. The airline is partly owned by Prince Alwaleed bin Talal’s Kingdom Holding Co., in which PIF purchased […] April 28, 2023 Banking & Finance Saudi Telecom unit to buy European towers for $1.34bn Tawal, a Saudi Telecom Company (STC) subsidiary, has agreed to buy tower infrastructure worth 1.22 billion Euros ($1.34 billion) from United Group’s telecommunications tower assets. The agreement supports STC’s strategy to expand its international footprint in key markets with significant growth potential, the Saudi-listed telecom firm said in a statement. STC is majority owned by […] April 21, 2023 Analysis Banking & Finance Ukraine ceasefire will unlock billions in Gulf-Russia deals GCC investors shelved a potential $15 billion of investments in Russia when Moscow invaded Ukraine, but companies are said to be quietly resuming due diligence in the hope of tying up deals when a peace accord is reached. These possible Gulf-Russia deals are mainly in the oil and gas, transport, logistics and agricultural sectors, according […] April 19, 2023 Retail Alabbar-founded Noon cuts 10% of jobs to lower costs E-commerce platform Noon.com has cut about 10 percent of its roughly 3,400-strong workforce to boost efficiency and lower costs. The layoffs at the Dubai-based firm include roles in marketing, advertising and other departments, the company founder Mohamed Alabbar told Bloomberg. Noon has been cutting costs and reducing headcount for the past year and a half, Alabbar added. […] April 19, 2023 Business of Sport Saudi Arabia in talks with Indian Premier League Reports linking Saudi Arabia with an Indian Premier League-style cricket tournament are both “unsurprising” and a “logical next step” in the continued growth of the sport across the region, according to a leading industry analyst. Saudi Arabia is in discussions with the owners of the IPL to establish a new T20 competition, according to a […] April 18, 2023 Banking & Finance PIF’s AviLease in race to buy StanChart leasing unit Saudi sovereign Public Investment Fund-owned AviLease is competing to buy Standard Chartered Plc’s aviation finance business. The Riyadh-based jet lessor is among several firms shortlisted for the second bidding round for the unit, Bloomberg reported, citing unnamed sources. Dublin-based Standard Chartered Aviation Finance manages more than 230 aircraft and offers services such as jet fuel […] April 18, 2023 Construction Saudi giga-projects may tap into debt market funding Saudi Arabia’s vast pipeline of giga-projects will require funding assistance due to the tightened liquidity in the country’s banking sector, say analysts at credit rating firm S&P Global. This, they add, opens opportunities for the Gulf’s debt markets. “We think that the Public Investment Fund and Saudi’s banking sector alone won’t be able to fund […] April 17, 2023 Opinion Energy Mining the Middle East’s rich seam of copper Red metal can put a shine on the region's diversification from oil wealth April 17, 2023 Energy Saudi transfers 4% stake in Aramco to PIF subsidiary A four percent ownership stake in state-owned oil giant Saudi Aramco has been transferred to Sanabil Investments, a subsidiary of the Public Investment Fund (PIF), Crown Prince Mohammed Bin Salman announced on Sunday. The government will remain Aramco’s biggest shareholder, owning 90.18 percent of the company, he said in a statement published by the state-run […] April 16, 2023 Posts navigation Previous 1 … 77 78 79 … 95 Next
Video length: 02:33 Aviation Qatar Airways CEO plays down threat of competition The CEO of Qatar Airways has said he is “very excited” by the growth of Saudi Arabia’s aviation industry, despite the prospect of tougher competition as regional airline capacity increases. “We will co-operate with them, we will support them, because we feel that relationships matter and there is a lot of business to go around […] May 2, 2023
Tourism Saudi Arabia’s wealth fund in talks to buy stake in Flynas Saudi Arabia’s Public Investment Fund (PIF) is in talks to buy a stake in Flynas, a Riyadh-headquartered low-cost carrier, Bloomberg reported, citing informed sources. Goldman Sachs Group is advising shareholders on the potential sale to the sovereign fund. The airline is partly owned by Prince Alwaleed bin Talal’s Kingdom Holding Co., in which PIF purchased […] April 28, 2023
Banking & Finance Saudi Telecom unit to buy European towers for $1.34bn Tawal, a Saudi Telecom Company (STC) subsidiary, has agreed to buy tower infrastructure worth 1.22 billion Euros ($1.34 billion) from United Group’s telecommunications tower assets. The agreement supports STC’s strategy to expand its international footprint in key markets with significant growth potential, the Saudi-listed telecom firm said in a statement. STC is majority owned by […] April 21, 2023
Analysis Banking & Finance Ukraine ceasefire will unlock billions in Gulf-Russia deals GCC investors shelved a potential $15 billion of investments in Russia when Moscow invaded Ukraine, but companies are said to be quietly resuming due diligence in the hope of tying up deals when a peace accord is reached. These possible Gulf-Russia deals are mainly in the oil and gas, transport, logistics and agricultural sectors, according […] April 19, 2023
Retail Alabbar-founded Noon cuts 10% of jobs to lower costs E-commerce platform Noon.com has cut about 10 percent of its roughly 3,400-strong workforce to boost efficiency and lower costs. The layoffs at the Dubai-based firm include roles in marketing, advertising and other departments, the company founder Mohamed Alabbar told Bloomberg. Noon has been cutting costs and reducing headcount for the past year and a half, Alabbar added. […] April 19, 2023
Business of Sport Saudi Arabia in talks with Indian Premier League Reports linking Saudi Arabia with an Indian Premier League-style cricket tournament are both “unsurprising” and a “logical next step” in the continued growth of the sport across the region, according to a leading industry analyst. Saudi Arabia is in discussions with the owners of the IPL to establish a new T20 competition, according to a […] April 18, 2023
Banking & Finance PIF’s AviLease in race to buy StanChart leasing unit Saudi sovereign Public Investment Fund-owned AviLease is competing to buy Standard Chartered Plc’s aviation finance business. The Riyadh-based jet lessor is among several firms shortlisted for the second bidding round for the unit, Bloomberg reported, citing unnamed sources. Dublin-based Standard Chartered Aviation Finance manages more than 230 aircraft and offers services such as jet fuel […] April 18, 2023
Construction Saudi giga-projects may tap into debt market funding Saudi Arabia’s vast pipeline of giga-projects will require funding assistance due to the tightened liquidity in the country’s banking sector, say analysts at credit rating firm S&P Global. This, they add, opens opportunities for the Gulf’s debt markets. “We think that the Public Investment Fund and Saudi’s banking sector alone won’t be able to fund […] April 17, 2023
Opinion Energy Mining the Middle East’s rich seam of copper Red metal can put a shine on the region's diversification from oil wealth April 17, 2023
Energy Saudi transfers 4% stake in Aramco to PIF subsidiary A four percent ownership stake in state-owned oil giant Saudi Aramco has been transferred to Sanabil Investments, a subsidiary of the Public Investment Fund (PIF), Crown Prince Mohammed Bin Salman announced on Sunday. The government will remain Aramco’s biggest shareholder, owning 90.18 percent of the company, he said in a statement published by the state-run […] April 16, 2023
