Company Insights Saudi National Bank Banking and Finance Saudi National Bank News Opinion Banking and Finance IMF proves Saudi banks have reasons for optimism Over the long term the kingdom’s banks will benefit from the scale of spending on Vision 2030 projects October 23, 2024 Construction PIF-backed Roshn raises $2.4bn for expansion Saudi Arabian giga-project developer Roshn has secured a new SAR9 billion ($2.4 billion) credit facility from a consortium of locally-listed banks. The loan will support the developer’s expansion and growth plans over the next five years, state-run Saudi Press Agency reported. “We intend to use these funds to further advance our ambitious strategy in the […] October 2, 2024 Renewable Energy Saudi Arabia secures funds for 5.5GW solar projects The developers of solar power projects worth SAR12 billion ($3.2 billion) with a combined output of 5.5 gigawatts (GW) in Saudi Arabia have secured financing for their projects. Saudi-listed Acwa Power, Water and Electricity Holding Co (Badeel), a Public Investment Fund (PIF)-owned company, and Saudi Aramco Power Co (Sapco), a wholly-owned subsidiary of energy major […] September 30, 2024 Analysis Giga-projects The huge ambitions of PIF come at vast expense The scale of the holdings is vast and the ambition is huge. Saudi Arabia’s Public Investment Fund was the world’s highest-spending state-owned investor in the first half of 2024, according to Global SWF, a consultancy. It is due to raise its annual spending to $70 billion in 2025, a year earlier than previously announced, according […] September 20, 2024 Opinion Banking and Finance Kuwait’s first banking merger is long overdue There have been bank mergers in every other GCC state – Kuwait might finally join the club September 20, 2024 Markets Emaar EC’s new strategy to steer financial recovery Emaar the Economic City (Emaar EC), the master developer of King Abdullah Economic City (KAEC) in Saudi Arabia, has initiated a SAR8.7 billion ($2.3 billion) turnaround plan a month after its first-half 2024 losses showed an almost five-fold increase from 2023. A capital optimisation plan will allow the Saudi-listed company to restructure its SAR3.8 billion in bank facilities. […] September 9, 2024 Analysis Markets PIF-backed Saudi companies increase dividends This week Saudi Arabia’s former telecom monopoly announced increased dividends. It became the latest company part-owned by the kingdom’s sovereign wealth fund and listed on Riyadh’s bourse to do so. The higher payouts provide a boost to the income of the Public Investment Fund, which it can then reinvest in higher-growth industries and accelerate Saudi’s […] August 30, 2024 Finance Saudi Electricity raises $4bn from 15 banks Saudi Electricity Company, 75 percent-owned by the sovereign Public Investment Fund, has obtained SAR15 billion ($4 billion) in funding from 15 regional and global banks. The three-year credit facility will be used for general corporate purposes. The facility is not backed by any guarantees, the company said in a statement to the Saudi stock exchange […] August 26, 2024 Oil & Gas $3bn new funding to propel PIF-backed Ades expansion Saudi oil and gas driller Ades Holding has secured an additional $3 billion from local and regional banks to support potential acquisitions and organic growth. The Public Investment Fund (PIF)-backed company has upsized its existing syndicate facility through a standby term tranche of $2.7 billion and a revolving credit facility tranche of $300 million. The standby […] July 15, 2024 Economy Saudi PIF is top global investor in first half of 2024 Saudi Arabia’s Public Investment Fund was the highest-spending state-owned investor in the first half of 2024, while three Abu Dhabi institutions were also in the top five. The PIF owns stakes in various domestic companies including Saudi Aramco, Saudi Telecom Co and Saudi National Bank and is spearheading the kingdom’s giga-project development programme. It invested […] July 2, 2024 Posts navigation Previous 1 2 3 4 … 9 Next
Opinion Banking and Finance IMF proves Saudi banks have reasons for optimism Over the long term the kingdom’s banks will benefit from the scale of spending on Vision 2030 projects October 23, 2024
Construction PIF-backed Roshn raises $2.4bn for expansion Saudi Arabian giga-project developer Roshn has secured a new SAR9 billion ($2.4 billion) credit facility from a consortium of locally-listed banks. The loan will support the developer’s expansion and growth plans over the next five years, state-run Saudi Press Agency reported. “We intend to use these funds to further advance our ambitious strategy in the […] October 2, 2024
Renewable Energy Saudi Arabia secures funds for 5.5GW solar projects The developers of solar power projects worth SAR12 billion ($3.2 billion) with a combined output of 5.5 gigawatts (GW) in Saudi Arabia have secured financing for their projects. Saudi-listed Acwa Power, Water and Electricity Holding Co (Badeel), a Public Investment Fund (PIF)-owned company, and Saudi Aramco Power Co (Sapco), a wholly-owned subsidiary of energy major […] September 30, 2024
Analysis Giga-projects The huge ambitions of PIF come at vast expense The scale of the holdings is vast and the ambition is huge. Saudi Arabia’s Public Investment Fund was the world’s highest-spending state-owned investor in the first half of 2024, according to Global SWF, a consultancy. It is due to raise its annual spending to $70 billion in 2025, a year earlier than previously announced, according […] September 20, 2024
Opinion Banking and Finance Kuwait’s first banking merger is long overdue There have been bank mergers in every other GCC state – Kuwait might finally join the club September 20, 2024
Markets Emaar EC’s new strategy to steer financial recovery Emaar the Economic City (Emaar EC), the master developer of King Abdullah Economic City (KAEC) in Saudi Arabia, has initiated a SAR8.7 billion ($2.3 billion) turnaround plan a month after its first-half 2024 losses showed an almost five-fold increase from 2023. A capital optimisation plan will allow the Saudi-listed company to restructure its SAR3.8 billion in bank facilities. […] September 9, 2024
Analysis Markets PIF-backed Saudi companies increase dividends This week Saudi Arabia’s former telecom monopoly announced increased dividends. It became the latest company part-owned by the kingdom’s sovereign wealth fund and listed on Riyadh’s bourse to do so. The higher payouts provide a boost to the income of the Public Investment Fund, which it can then reinvest in higher-growth industries and accelerate Saudi’s […] August 30, 2024
Finance Saudi Electricity raises $4bn from 15 banks Saudi Electricity Company, 75 percent-owned by the sovereign Public Investment Fund, has obtained SAR15 billion ($4 billion) in funding from 15 regional and global banks. The three-year credit facility will be used for general corporate purposes. The facility is not backed by any guarantees, the company said in a statement to the Saudi stock exchange […] August 26, 2024
Oil & Gas $3bn new funding to propel PIF-backed Ades expansion Saudi oil and gas driller Ades Holding has secured an additional $3 billion from local and regional banks to support potential acquisitions and organic growth. The Public Investment Fund (PIF)-backed company has upsized its existing syndicate facility through a standby term tranche of $2.7 billion and a revolving credit facility tranche of $300 million. The standby […] July 15, 2024
Economy Saudi PIF is top global investor in first half of 2024 Saudi Arabia’s Public Investment Fund was the highest-spending state-owned investor in the first half of 2024, while three Abu Dhabi institutions were also in the top five. The PIF owns stakes in various domestic companies including Saudi Aramco, Saudi Telecom Co and Saudi National Bank and is spearheading the kingdom’s giga-project development programme. It invested […] July 2, 2024
