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The Latest Breaking News from PIF

New texts shed light on Elon Musk’s 2018 spat with Saudi fund

Elon Musk’s short-lived effort to take Tesla Inc. private after his infamous “funding secured” tweet in August 2018 has loomed over the billionaire’s reputation — and his quest to buy Twitter Inc.

Tribune News Service

Newcastle evening headlines: Howe on transfers, Saint-Maximin message and Ghodoussi celebration

All of the latest Newcastle United headlines including updates on Eddie Howe, Mehrdad Ghodoussi, Allan Saint-Maximin and more

Chronicle Live

Richest sports team owners top 10 as Arsenal's Kroenkes above Newcastle's Saudi prince

Newcastle United have been tipped for European football dominance, yet many fans may be surprised to hear that Arsenal owner Stan Kroenke leads the Saudi Crown Prince in the richlist

Daily Mirror

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Elon Musk Suffers a Huge Setback in a Fierce Battle

Tesla CEO is sued by shareholders of the electric vehicle maker who claim to have been penalized by some of his actions.

The Street

Elon Musk Has an Unusual Strategy to Shush Saudi Arabia

The billionaire and one of the powerful Saudi princes are opponents in the fight for control of Twitter.

The Street

Lucid Draws 2 Powerful Weapons in Battle Against Tesla

The competition in the market for ultra-luxurious electric vehicles is likely to get fierce, particularly between Lucid and Tesla.

The Street

Saudi Stock Market Companies Touch $613 Billion in Revenues

Saudi companies listed on the stock market recorded a 56.3 percent increase in their business, reaching total revenue of $613.3 billion. Al-Jazira Capital reported that the Saudi companies on the Saudi Stock Exchange (Tadawul) recorded $613.3 billion in revenues, compared to $392 billion in 2020, while the listed Saudi companies…

Asharq Al-Awsat

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Electric Vehicles … A Saudi Step Towards Establishing Sustainable Transportation

The announcement made by Lucid Group, an American electric vehicle manufacturer, on signing several agreements with Saudi government agencies, paving way for laying the groundwork for a full production factory in Saudi Arabia, is an important step that shows the competitiveness of the Kingdom in becoming a perfect investment destination…

Asharq Al-Awsat

Six months in, Newcastle takeover still offers little cause for celebration

While Eddie Howe’s side are thriving, Saudi investment has also led to endless squabbling, moral acrobatics and whataboutery

The Guardian - UK

Saudi Dussur Signs 4 Joint Ventures, Global Acquisition Deal

The Saudi Arabian Industrial Investments (Dussur) announced the signing of five new shareholders' agreements, including four joint ventures and one global acquisition deal. Dussur, owned by PIF, Aramco, and SABIC, signed the agreement at a special event attended by Minister of Energy and Investment Prince Abdulaziz bin Salman, Minister of…

Asharq Al-Awsat

Newcastle's PIF ownerships stance on Saudi Media's Chelsea takeover revealed on deadline day

Chelsea news: The Saudi-based Newcastle ownership have weighed in with their own views on Saudi Media's potential Blues takeover with bids needing to be submitted before 9pm on Friday

Football London

Amanda Staveley causes Chelsea controversy and makes new Liverpool admission

Amanda Staveley gives controversial take on Roman Abramovich situation at Chelsea and makes admission over past Liverpool interest

Liverpool Echo

Saudi PIF Sets Framework for Green Financing

Saudi Public Investment Fund (PIF), the Kingdom's sovereign wealth fund, laid out plans on Monday for raising green debt as the world's top oil exporter strives to reach net-zero carbon emissions by 2060. The Fund published the green finance framework that will allow it to tap world markets to issue…

Asharq Al-Awsat

Saudi Aramco Shares Soar Over 4%

Shares in Saudi Aramco soared over 4 percent to an all-time closing high in Monday’s trading session on the Saudi stock exchange. Saudi Aramco rose 4.1 percent to a record closing high of 39.25 riyals ($10.4). Its market cap exceeded 7.8 trillion riyals ($2.1 trillion). Last week, Crown Prince Mohammed…

Asharq Al-Awsat

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Asharq Al-Awsat

Saudi Arabia Approves Licensing of New Digital Bank

Saudi Arabia’s central bank announced on Tuesday that the government has approved the licensing of a third digital bank, called D360 Bank, with a capital of 1.65 billion riyals ($440 million). It added that the Kingdom’s Public Investment Fund (PIF) was part of the consortium of companies and investors launching…

ABC News

Pacific Islands Forum's head to be replaced, FSM President David Panuelo says, after leadership dispute

Recently elected secretary-general Henry Puna will step down in order to stop the key regional diplomatic body from splitting, according to a top Micronesian leader.

Asharq Al-Awsat

Saudi Crown Prince Says 4% of Aramco Shares Moved to Sovereign Wealth Fund

Saudi Arabia's Crown Prince Mohammed bin Salman announced the transfer of 4% of Saudi Aramco shares to the Public Investment Fund, Saudi Arabia's sovereign wealth fund, state news agency SPA reported on Sunday. The Crown Prince said the state remains the largest shareholder in Saudi Aramco after the transfer process,…

Asharq Al-Awsat

Saudi PIF Extends Portfolio by Taking Majority Stakes in Design Company

Dubai-listed Depa PLC said on Friday it has entered into an agreement with Saudi Arabia’s Public Investment Fund (PIF), whereby the sovereign wealth fund will acquire a majority stake in the company in return of cash investment worth 150 million dirhams ($40.84 million). In a statement on Friday, Depa said…

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ABC News

Pacific Islands Forum saved from collapse at last minute as Micronesian states 'temporarily' rescind withdrawal

Right as the deadline for Micronesian nations to leave the crucial regional forum approaches, the move is paused. But it's not yet clear what stopped them from leaving.

Liverpool Echo

Everton issues will be on Newcastle United's mind despite £234m gap

Newcastle have been willing spenders but will have to do it sustainably, as Everton found out

Asharq Al-Awsat

Saudi Sukuk Issuance to Increase by 37 Percent

Saudi sukuk issuances increased by 37 percent during the past year on an annual basis, according to S&P Global Ratings. The announcement was made as the global credit rating agency, Moody’s, assigned the Public Investment Fund (PIF) with a first-time issuer rating of A1 and a scorecard indicated rating of…

Chronicle Live

The 'clever' PIF and Amanda Staveley £40m theory amid Newcastle Companies House update

A Companies House update has revealed Newcastle United raised £40m from the sale of a single share

Asharq Al-Awsat

PIF Launches Savvy Gaming Group

The Public Investment Fund launched Savvy Gaming Group (SGG), chaired by Crown Prince Mohammed bin Salman, Deputy Prime Minister and Chairman of PIF. Savvy aims to become a domestic and international pioneer in gaming and e-sports and will work to further develop an integrated ecosystem for the sector. SGG acquired…

Chronicle Live

PIF's Newcastle message ahead of Saudi Arabia break with friendly and return date confirmed

The Magpies have jetted off to Suadi Arabia after the win over Leeds United

Asharq Al-Awsat

Experts: Launch of ‘Boutique Group’ Enhances Tourism Gains by Reviving Heritage

Saudi Arabia’s Crown Prince Mohammed bin Salman has unveiled ‘Boutique Group’ to develop historical palaces into luxury boutique hotels, the Kingdom’s Public Investment Fund (PIF) announced on Thursday. Boutique Group is a “a new hospitality brand that will manage and convert a collection of iconic historic and cultural palaces in…

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