Business of Sport PIF backs Fifa Club World Cup in the US Saudi Arabia’s Public Investment Fund (PIF) will be the official partner of the month-long Fifa Club World Cup 2025, which will take place in the US from June 14. The sovereign wealth fund has signed an agreement with football’s governing body, Fifa, to fuel growth and engagement in football, the $940 billion Saudi sovereign wealth […] June 6, 2025
Markets Sport Clubs announces IPO subscription date Institutional investors will be able to start subscribing to the Riyadh-based Sport Clubs Company’s initial public offering (IPO) from June 22. The subscription period will run for five days, the company said in a statement. In March, the Capital Market Authority, the market regulator, approved the sale of 34.3 million shares, or 30 percent of […] June 5, 2025
Infrastructure Startups invited to solve Medina’s challenges Saudi Arabia is inviting startups to tackle infrastructure challenges in Medina, one of Islam’s holiest cities, as it ramps up efforts to expand religious tourism. Madinah-Tech, an accelerator backed by the regional municipality and private investors, has opened applications for its first cohort as the city struggles to keep pace with growing visitor numbers. The […] June 5, 2025
Oil & Gas Saudi Arabia lowers July oil prices for Asia Saudi Arabia, the world’s biggest oil exporter, on Wednesday lowered its July prices for Asian buyers after Opec+ hiked output for a fourth month. However, the price cut was smaller than expected. Saudi Aramco, the country’s state oil company, cut the official selling price for the flagship Arab light crude it sells to Asia for […] June 5, 2025
Health SMC receives $32bn in bids as IPO price is finalised Specialized Medical Company (SMC), which operates two hospitals in Riyadh, will raise SAR1.9 billion ($506 million) from its listing on the Saudi stock exchange. The final offer price was set at SAR25 per share, the top end of the previously announced initial public offering (IPO) price range. The market capitalisation at listing will stand at […] June 5, 2025
Markets Two IPOs scrapped on Saudi Arabia’s junior market Two planned initial public offerings (IPOs) on Saudi Arabia’s junior stock market have been scrapped. Yaqeen Capital and Watheeq Capital, the respective lead managers and financial advisors for Alkhaldi Logistics Company and Dome International Investment, announced that the IPOs had been declared void. The statements did not specify the reasons for the cancellations. Refund of […] June 4, 2025
Finance Saudi Arabia targets $12.6bn from bonds for rest of 2025 Saudi Arabia is expected to issue $12.6 billion in bonds for the remainder of the year, JPMorgan said, as the kingdom resorts to the debt markets amid huge investments to overhaul its economy and lower oil prices. The Gulf country, which forecasts a budget deficit of $26.9 billion this year, is seeking funds to invest in […] June 4, 2025
Analysis Real Estate Medina plays catch-up to Mecca’s expansion Hajj pilgrims arriving at the Grand Mosque in Mecca this week will be the first in more than a decade to see a skyline free of construction cranes. Now that the long-delayed expansion of Islam’s holiest site is complete, the cranes that long dominated the area have been taken down. The renovations have doubled the […] June 4, 2025
Analysis Finance Oversubscribed Flynas IPO offers hope for other Saudi listings The Saudi budget airline Flynas announced that the retail tranche of its initial public offering (IPO) was oversubscribed four and a half times. The news offers hope for upcoming IPOs in the kingdom following a fall in the share price of United Carton Industries Company (UCIC) after it listed on the main market last week. […] June 3, 2025
Agriculture PIF-backed Olam Agri raises nearly $2bn Singapore-based agribusiness Olam Agri Holdings, partially owned by Saudi Arabia’s Public Investment Fund (PIF), has secured $1.85 billion in financing to support its business goals. The dual-tranche conventional and Islamic facility was raised by Olam Global Agri and Olam Global Agri Treasury Pte, two subsidiaries of Olam Agri — which sources, processes, trades and distributes […] June 3, 2025
Analysis Banking and Finance Corporate borrowing swells Saudi banks’ Q1 profits Saudi Arabia’s big banks prospered in the first quarter thanks to soaring borrowing demand from companies. However, lending growth is likely to slow and margins are shrinking because of rising fund costs and intensifying competition. The kingdom’s six largest banks by assets are Saudi National Bank, Al Rajhi Bank, Riyad Bank, Saudi Awwal Bank, Banque […] June 3, 2025
Aviation Saudi companies to place orders for Airbus jets Saudi Arabian companies are to place orders for Airbus jets worth billions of dollars as the kingdom balances suppliers in its quest to match the aviation growth of Gulf neighbours, industry sources said. PIF-backed lessor AviLease, which placed an order for 30 Boeing 737 Max jets during a visit to the region this month by US president […] June 2, 2025
Real Estate Saudi developer to build $400m ‘workshop city’ A Saudi developer is planning to borrow SAR1.5 billion ($400 million) from banks to fund a workshop and warehousing development in Riyadh. Azad Properties plans to build ‘Bawabat Al-Senaya’, which means industrial gate, and aims to attract around 400 companies. Its CEO Ayman Al-Burti told CNBC Arabia TV news that the scheme would be launched […] May 30, 2025
Analysis Real Estate Saudi housing changes may stoke demand for smaller properties A decision to reduce the minimum age at which nationals receive support to buy houses is likely to increase the number of homeowners in Saudi Arabia but could push up the price for smaller properties such as apartments, which are already in high demand, analysts say. The amendment, which was approved by the cabinet on […] May 30, 2025
Markets Hong Kong and Saudi work on cross-border financial products Hong Kong and Saudi Arabia are considering allowing more cross-border financial products as the two markets seek to deepen financial ties amid rising trade uncertainties. An exchange-traded fund tracking bonds issued by the Saudi government started trading in Hong Kong on Thursday, the first fixed-income fund listed in the territory to offer such exposure. Apart […] May 30, 2025
Tourism PIF unit commits millions to back Aseer province growth Ardara, a wholly owned subsidiary of the Public Investment Fund (PIF), is making multi-million-dollar investment in Aseer province in the south of the kingdom to support urban development in line with Vision 2030. Work was launched this week on AlWadi – meaning “the valley”– after it was first announced in October 2023, the state-run Saudi Press […] May 30, 2025
Oil & Gas Aramco to continue raising debt to fund expansion, says CEO Saudi Aramco will continue borrowing to support its expansion and effectively leverage its balance sheet, the head of the energy giant said. The Saudi-listed oil giant this week raised $5 billion in bonds as spreads tightened. The five-year issue, which was priced at 80 basis points (bps) over US treasury bonds, tightened from its original […] May 30, 2025
Opinion Business of Sport Final whistle for Ronaldo in Riyadh: was it worth it? A sporting icon departs Al Nassr after raising the profile of Saudi football May 29, 2025
Opinion Banking and Finance Saudi Arabia’s troubled Swiss banking connection Gulf anger simmers as Swiss and US bailouts burn sovereign billions May 29, 2025
Analysis Agriculture African and local sheep on the menu as livestock trade shifts As Eid al Adha approaches, consumers in Saudi Arabia and the wider Gulf region can expect imports of animals and meat of varying provenance from their traditional suppliers, analysts say. African exporters and Gulf self-sufficiency projects are stepping in to fill gaps in the Middle East’s livestock supply as Australian and other providers step back. […] May 29, 2025
