Company Insights Public Investment Fund (PIF) Finance Public Investment Fund (PIF) News Analysis Economy Saudi capital spending surges 38% on back of higher oil prices Capital expenditure surged in Saudi Arabia in the first half of 2022, part of a wider spending spree on the back of higher oil prices. S&P Global Ratings said capital expenditure (capex) rose by 38 percent to SR51 billion ($13.6 billion) despite this year’s initial budget statement forecasting it would fall. Revenue was up 43 […] September 20, 2022 Banking & Finance PIF unit to expand New York team amid US investment drive A subsidiary of Saudi Arabia’s Public Investment Fund (PIF) is planning to hire staff for its New York office as it prepares to boost investments in the US market, Bloomberg reported, citing unnamed sources. USSA International, the wholly-owned unit of the $620 billion sovereign wealth fund, expects to hire nearly 50 staff for its New […] September 20, 2022 Energy Arabian Drilling plans to list 30% of shares on Saudi exchange Saudi Arabia-based oil and gas drilling contractor Arabian Drilling is planning an initial public offering (IPO) on the kingdom’s main exchange. The offer consists of a secondary offering of 19.89 percent of the company’s total share capital through the sale of 17.70 million shares and a primary offering of 10.11 percent via the issuance of […] September 19, 2022 Saudi Arabia taps into Hong Kong AI firm SenseTime, a Hong Kong-based AI software giant, will launch a joint venture in Saudi Arabia as part of the kingdom’s plan to be among the world’s top 15 countries for the adoption of artificial intelligence by 2030. The Saudi Company for Artificial Intelligence (SCAI), a wholly owned subsidiary of the Public Investment Fund (PIF), today […] September 13, 2022 Tourism PIF eyes $400m investment in Saudi travel giant Almosafer Riyadh's Public Investment Fund could acquire a 30 percent stake in the tourism group, which has reported record growth in the second quarter September 13, 2022 Saudi bets $80m in gaming sector push Saudi Arabia’s National Development Fund (NDF) has announced a SR300 million ($80m) fund to help develop the gaming and e-sports sector in the kingdom. The budget aims to position Saudi Arabia as a global gaming hub, increasing the sector’s contribution to the gross domestic product (GDP) by providing career paths and new job opportunities as […] September 8, 2022 Banking & Finance Saudi wealth fund set to close $11bn refinance deal Saudi Arabia’s Public Investment Fund (PIF) will refinance an $11 billion loan and significantly increase the borrowing size, Bloomberg reported, citing people familiar with the matter. The sovereign wealth fund will use a significant portion of the loan to refinance debt maturing next year. The final terms are yet to be decided, the report said. […] September 7, 2022 Business of Sport Saudi Arabia signs MotoGP deal as sporting push accelerates Saudi Motorsport Company and MotoGP rights holder Dorna Sports have signed a memorandum of understanding for a race in the kingdom September 6, 2022 Real Estate PIF launches digital platform for Saudi Arabia’s real estate sector Saudi Arabia’s Public Investment Fund (PIF) has launched the National Real Estate Registration Services Company (RER), a new digital platform which aims to develop the kingdom’s local real estate sector. The platform will be developed in cooperation with the Real Estate General Authority, and other government entities, the sovereign wealth fund said in a statement. […] September 5, 2022 Analysis Development Accountability ‘crucial’ for success of Saudi Vision 2030 Saudi Arabia is entering a “crucial” part of its ambitious Vision 2030 programme as the kingdom begins to deliver on its promises, described by a leading expert as the “moment of accountability”. Pedro Ribeiro, the recently appointed general manager for commercial real estate services and investment firm CBRE in Saudi Arabia, told AGBI that the […] September 1, 2022 Posts navigation Previous 1 … 89 90 91 … 95 Next
Analysis Economy Saudi capital spending surges 38% on back of higher oil prices Capital expenditure surged in Saudi Arabia in the first half of 2022, part of a wider spending spree on the back of higher oil prices. S&P Global Ratings said capital expenditure (capex) rose by 38 percent to SR51 billion ($13.6 billion) despite this year’s initial budget statement forecasting it would fall. Revenue was up 43 […] September 20, 2022
Banking & Finance PIF unit to expand New York team amid US investment drive A subsidiary of Saudi Arabia’s Public Investment Fund (PIF) is planning to hire staff for its New York office as it prepares to boost investments in the US market, Bloomberg reported, citing unnamed sources. USSA International, the wholly-owned unit of the $620 billion sovereign wealth fund, expects to hire nearly 50 staff for its New […] September 20, 2022
Energy Arabian Drilling plans to list 30% of shares on Saudi exchange Saudi Arabia-based oil and gas drilling contractor Arabian Drilling is planning an initial public offering (IPO) on the kingdom’s main exchange. The offer consists of a secondary offering of 19.89 percent of the company’s total share capital through the sale of 17.70 million shares and a primary offering of 10.11 percent via the issuance of […] September 19, 2022
Saudi Arabia taps into Hong Kong AI firm SenseTime, a Hong Kong-based AI software giant, will launch a joint venture in Saudi Arabia as part of the kingdom’s plan to be among the world’s top 15 countries for the adoption of artificial intelligence by 2030. The Saudi Company for Artificial Intelligence (SCAI), a wholly owned subsidiary of the Public Investment Fund (PIF), today […] September 13, 2022
Tourism PIF eyes $400m investment in Saudi travel giant Almosafer Riyadh's Public Investment Fund could acquire a 30 percent stake in the tourism group, which has reported record growth in the second quarter September 13, 2022
Saudi bets $80m in gaming sector push Saudi Arabia’s National Development Fund (NDF) has announced a SR300 million ($80m) fund to help develop the gaming and e-sports sector in the kingdom. The budget aims to position Saudi Arabia as a global gaming hub, increasing the sector’s contribution to the gross domestic product (GDP) by providing career paths and new job opportunities as […] September 8, 2022
Banking & Finance Saudi wealth fund set to close $11bn refinance deal Saudi Arabia’s Public Investment Fund (PIF) will refinance an $11 billion loan and significantly increase the borrowing size, Bloomberg reported, citing people familiar with the matter. The sovereign wealth fund will use a significant portion of the loan to refinance debt maturing next year. The final terms are yet to be decided, the report said. […] September 7, 2022
Business of Sport Saudi Arabia signs MotoGP deal as sporting push accelerates Saudi Motorsport Company and MotoGP rights holder Dorna Sports have signed a memorandum of understanding for a race in the kingdom September 6, 2022
Real Estate PIF launches digital platform for Saudi Arabia’s real estate sector Saudi Arabia’s Public Investment Fund (PIF) has launched the National Real Estate Registration Services Company (RER), a new digital platform which aims to develop the kingdom’s local real estate sector. The platform will be developed in cooperation with the Real Estate General Authority, and other government entities, the sovereign wealth fund said in a statement. […] September 5, 2022
Analysis Development Accountability ‘crucial’ for success of Saudi Vision 2030 Saudi Arabia is entering a “crucial” part of its ambitious Vision 2030 programme as the kingdom begins to deliver on its promises, described by a leading expert as the “moment of accountability”. Pedro Ribeiro, the recently appointed general manager for commercial real estate services and investment firm CBRE in Saudi Arabia, told AGBI that the […] September 1, 2022
