Business of Sport Qatar Airways signs $97m deal to sponsor new rugby tournament Qatar Airways has agreed a $97 million deal to sponsor the new World Rugby Nations Championship. The eight-year deal will cover the qualifying matches and finals for the first four editions of the rugby union tournament from 2026 to 2034. The agreement is the biggest title sponsorship in international rugby, according to The Guardian. The […] January 13, 2025
Analysis Aviation Middle East investors turn to airports for safe returns Middle Eastern money is making its way into airports around the world as investment in aviation assets continues to catch the eye. Abu Dhabi Investment Authority (Adia), the UAE’s largest sovereign wealth fund, is the latest headline-grabber as its estimated $4 billion takeover bid as part of a consortium for Malaysia’s Airports Holdings was confirmed […] January 13, 2025
Finance Saudi Arabia’s PIF invests $200m in JP Morgan fund Saudi Arabia’s Public Investment Fund has invested $200 million in a recently launched exchange-traded fund that tracks dollar-denominated bonds and sukuk issued by the kingdom’s government and quasi-state entities. The JP Morgan Saudi Arabia Aggregate Bond UCITS ETF, created in mid-December, is the first internationally listed fixed-income Saudi Arabian ETF. As such, it “further deepens […] January 9, 2025
Video length: 04:13 VIDEO Tech Gulf sovereign wealth funds tilt towards emerging markets In the past 12 months Gulf sovereign wealth funds invested almost $10 billion in China, the largest such volume in history, Diego Lopez, Singapore-based managing director of Global SWF tells AGBI. This reflected a growing bias among Gulf funds towards emerging markets and domestic economies. “Every time [investment managers] are coming across a good opportunity […] January 6, 2025
Real Estate Saudi Arabia embraces mortgage-backed securities Saudi officials have signed a preliminary deal this week to issue residential mortgage-backed securities, a first for the Gulf. The Saudi Real Estate Refinance Company (SRC), which is owned by the Public Investment Fund (PIF), and the Hassana Investment Company, which manages the assets of the national social security and pension fund, signed the memorandum […] January 3, 2025
Economy Mubadala beats PIF in global sovereign spend in 2024 Abu Dhabi’s Mubadala Investment Company outpaced Saudi Arabia’s Public Investment Fund in spending last year after the PIF reduced its global investments in 2024. Mubadala and its subsidiaries invested $29.2 billion in 2024, up from $17.5 billion in 2023, Reuters reported citing the preliminary data from research company Global SWF. That accounted for nearly 20 […] January 2, 2025
Tourism Saudi hotel rates are flat, but tourists are staying longer Room rates in Saudi hotels are flat, but visitors to the kingdom are staying for longer, according to government figures. The average daily room rate was SAR725.50 ($193.50) in the second quarter of 2024, said the General Authority for Statistics. This was a dip of 0.4 percent year on year. Average room occupancy rates in […] December 24, 2024
Analysis Economy Why Saudi Arabia expects public debt to rise Saudi Arabia expects its public debt to steadily rise in the next three years, despite the massive financial reserves controlled by the central bank and the Public Investment Fund (PIF). Estimates by the Saudi Finance Ministry show that public debt will swell by around SAR375 billion ($100 billion) between the end of 2024 and the […] December 23, 2024
Tax More taxes could shield GCC from protectionism, says IMF GCC countries should consider new taxation options to shore up their public finances and shield their economies from rising global protectionism, according to the International Monetary Fund. That means regional governments need to continue diversifying away from fossil fuels and boost the role of the private sector, all the while identifying new tax revenues and […] December 20, 2024
Artificial Intelligence Oman buys stake in Elon Musk’s AI company The Oman Investment Authority (OIA), the sultanate’s sovereign wealth fund, has acquired a stake in xAI, the artificial intelligence company founded by Elon Musk, the world’s richest man. The deal was announced on Wednesday by the Omani state news agency but the size of the investment was not disclosed. Musk, who is worth around $486 […] December 18, 2024
Real Estate Seven awards $346m contract for new entertainment venue Saudi Arabian developer Seven is investing SAR1.3 billion ($346 million) to develop a new entertainment destination in the Jazan region. The development has been awarded to Riyadh-based Alfanar Projects. Located adjacent to the North Corniche Park along Jazan’s waterfront, it will span more than 60,000 sq m, with 73,000 sq m of built-up space. Designed […] December 18, 2024
Finance PIF ‘interested in Newcastle Airport stake’ Saudi Arabia’s Public Investment Fund (PIF) is understood to be interested in buying a minority stake in Newcastle airport, UK media say. The sovereign wealth fund is believed to be the frontrunner in a deal to buy the 49 percent shareholding owned by Infrabridge, a global infrastructure investment company based in Florida, The Times reports. […] December 17, 2024
Finance Mubadala and Carlyle launch partnership Abu Dhabi sovereign fund Mubadala and a subsidiary of US investment firm Carlyle have launched a partnership to lend to private equity companies worldwide. Mubadala, which has $302 billion in assets under management, and AlpInvest Partners have already completed their first deal, according to a statement by the Abu Dhabi institution. The partnership will provide […] December 13, 2024
Aviation PIF acquires 15% stake in London’s Heathrow airport Saudi Arabia’s Public Investment Fund (PIF) has acquired a 15 percent stake in FGP TopCo, the holding company of Heathrow Airport Holdings. The stake was purchased from Spanish infrastructure giant Ferrovial and other FGP TopCo shareholders. Simultaneously, Ardian, a Paris-headquartered private equity fund, has acquired 22.6 percent of FGP TopCo from the same shareholders through a […] December 13, 2024
Finance $500bn QIA to go ‘aggressive’ and close big deals says CEO The $500-billion Qatar Investment Authority (QIA) will be investing more “aggressively” and closing more “big-ticket” deals, according to a news report. Mohammed Al-Sowaidi, the fund’s new chief executive officer, told the Financial Times that QIA will invest with “more frequency” and undertake a review of its investment strategy. The fund remains bullish on the US, […] December 12, 2024
Business of Sport PIF close to $1.5bn stake in PGA commercial arm Saudi Arabia’s Public Investment Fund is close to agreeing a deal to acquire a minority stake in PGA Tour Enterprises, the tour’s commercial arm. The sovereign wealth fund is aiming to acquire a stake of around 6 percent as part of the deal, Bloomberg reported. The investment will amount to $1.5 billion, the Wall Street […] December 11, 2024
Finance ADQ in bid to buy Spanish waste company, reports say ADQ, an Abu Dhabi sovereign wealth fund, has joined buyout groups Blackstone and EQT for the second round of bids to buy Spanish waste management company Urbaser, Spain’s Expansion newspaper said on Tuesday. Urbaser’s owner, private equity firm Platinum, hired Citi and Santander as advisors for the sale earlier this year in a deal that could value the company at […] December 11, 2024
Tourism PIF sets up company to develop Saudi hotel brands Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has launched Adeera, a hotel management company. The aim is to develop homegrown Saudi hotel brands and help the kingdom achieve its goal of attracting 150 million annual tourists. Adeera has been described as “a national champion” that will build new world-class Saudi hotel brands […] December 11, 2024
Analysis Business of Sport Saudi Arabia expands global reach with 900 sports deals Saudi Arabia’s vast number of sports sponsorship deals, now in excess of 900, are part of the kingdom’s strategy to diversify away from oil but their long-term success will not be known for some time to come, experts have said. Play the Game, a publicly funded sports ethics institute in Denmark, compiled a list of […] December 9, 2024
Finance Mubadala to focus on Asia investments says CEO Abu Dhabi wealth fund Mubadala Investment Company will focus on investments across Asia, CEO and managing director Khaldoon Al Mubarak has said. “Asia in general, we are under-invested,” Reuters reported, quoting Al Mubarak at the Milken Institute Middle East and Africa summit. “You have to take a very strong view on India, you have to […] December 9, 2024
Food & Drink ‘World first’ date soft drink launched by PIF subsidiary A soft drink made from dates has been launched by Al Madinah Heritage Company, a subsidiary of Saudi Arabia’s Public Investment Fund. Milaf Cola, which is claimed to be the world’s first commercial soft drink made from dates, uses only premium fruit and contains no added sugar. Dates have historically been used in Middle Eastern beverages […] December 6, 2024
Economy PIF secures $10bn from French export credit agency Saudi Arabia’s Public Investment Fund has signed an agreement with Bpifrance Assurance Export, a French export credit agency, to seek funding for up to $10 billion. The five-year pact will focus on projects supporting Vision 2030 and is aligned with the fund’s strategy to grow build long-term global partnerships. The agreement will unlock new opportunities for French […] December 6, 2024
