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The Latest Breaking News from Public Investment Fund

Why Saudi Arabia Transfered 4% of Aramco Shares to PIF Subsidiary?

Saudi Arabia's Crown Prince Mohammed bin Salman announced Sunday the transfer of a 4% stake of the oil giant Saudi Aramco to Sanabil Investments, a subsidiary of the kingdom's Public Investment Fund (PIF). Experts interviewed by Asharq Al-Awsat said the move supports PIF’s flexibility in capturing local and global investment…

Asharq Al-Awsat

Jada Fund of Funds Appoints Mr. Bandr Alhomaly as CEO

The Board of Directors of Jada Fund of Funds – Saudi government-owned by the Public Investment Fund to provide funding to Saudi SMEs through commercially sustainable investments in venture capital and private equity funds - announced the appointment of Mr. Bandr Mohammed Alhomaly as CEO. The Board is highly confident…

Asharq Al-Awsat

Saudi-Japanese Feasibility Study for Producing Clean Hydrogen for Local, Int’l Markets

Japan’s Marubeni Corp. has agreed to study clean hydrogen production in Saudi Arabia together with the Kingdom’s sovereign Public Investment Fund (PIF). Saudi Arabia, a leading oil-producing nation and a key player in the Organization of the Petroleum Exporting Countries, is looking to add other types of energy sources, including…

Asharq Al-Awsat

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North East Today: Newcastle households face 4% council tax hike and Amanda Staveley quashes Manchester United speculation

Your lunchtime briefing on all the latest news from across the North East

Chronicle Live

Judge rules PGA Tour can add Saudi Arabia’s Public Investment Fund, governor Yasir Al-Rumayyan as defendants in LIV Golf countersuit

The hits keep coming for LIV Golf and the Public Investment Fund in U.S. federal court.

USA Today Sports Media Group

Saudi wealth fund becomes biggest outside Nintendo investor

A Saudi sovereign wealth fund now holds 8.26% of the stock in the video game maker Nintendo, making it the largest outside investor in the Japanese gaming company

The Independent UK

Jurgen Klopp can't hide his feelings on Newcastle since £305m Saudi Arabia takeover

Newcastle, who face Jurgen Klopp's Liverpool on Saturday evening, were sold by Mike Ashley to Saudi Arabia's Public Investment Fund for £305million in October 2021

Daily Mirror

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Saudi Aramco’s Ladies Golf Int'l Championship Kicks off Thursday

The Aramco Saudi Ladies International Championship 2023, sponsored by the Public Investment Fund, will kick off Thursday at the Royal Greens Golf & Country Club, in the King Abdullah Economic City. In partnership with the Ladies European Tour (LET), the tournament will see the participation of some of the biggest…

Asharq Al-Awsat

Saudi Arabia's PIF Invests $1.3 Billion in 4 Local Construction Firms

Saudi Arabia's sovereign wealth fund has invested a total of $1.3 billion in four local construction firms to support the sector tasked with spearheading projects across the Kingdom, it said on Tuesday. The Public Investment Fund said it acquired new shares as part of capital increases representing significant minority stakes…

Asharq Al-Awsat

LIV Golf (and one PGA Tour player) dominate early leaderboard at PIF Saudi International

Of the 37 players under par after the first day of play, 24 play for LIV Golf and three are on the PGA Tour.

USA Today Sports Media Group

Saudi Crown Prince Announces Diriyah as PIF’s Fifth Giga-Project

Saudi Crown Prince and Chairman of the Public Investment Fund (PIF) Mohammed bin Salman announced on Monday designating Diriyah as the fifth giga-project owned by the Kingdom’s sovereign wealth fund. The Diriyah tourism project aligns with PIF’s strategy for achieving the goals of the Kingdom’s plan for national transformation, Vision…

Asharq Al-Awsat

Chinese President Arrives in Saudi Arabia on Official Visit

Chinese President Xi Jinping arrived in Saudi Arabia on Wednesday on an official visit at the invitation of Custodian of the Two Holy Mosques King Salman bin Abdulaziz. He was welcomed at King Khalid International Airport by Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh Region; Prince Faisal bin…

Asharq Al-Awsat

10 most expensive Premier League takeovers as FSG set record Liverpool sale price

FSG and John Henry have made the decision to put Liverpool up for sale and could potentially facilitate one of the most lucrative takeovers in Premier League football after a deal

Daily Mirror

Saudi Arabia Teams Up With Foxconn To Launch Its Own Ceer EV Brand

Ceer is a joint venture between Saudi Arabia's Public Investment Fund and Taiwan's Foxconn; it will license component tech from BMW in the development phase.

InsideEVs

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Asharq Al-Awsat

Saudi Crown Prince: PIF to Establish Five Regional Investment Companies

Saudi Crown Prince Mohammed bin Salman, Prime Minister, Chairman of the Council of Economic and Development Affairs and Chairman of the Public Investment Fund, announced on Wednesday that the Fund will establish five companies aimed at investing in Bahrain, Iraq, Jordan, Oman, and Sudan. The announcement follows the launch of…

Chronicle Live

'Breaks my heart' - Sportswashing and the Newcastle fans still 'hollow' after Saudi takeover

It has been a year since the Newcastle United takeover was finally approved but the topic of sportswashing with Saudi Arabia's Public Investment Fund remains in the headlines

Asharq Al-Awsat

Saudi PIF Acquires Stakes in 4 Egyptian Companies Worth $1.3b

The Saudi Egyptian Investment Company (SEIC), owned by Saudi Arabia's state-owned Public Investment Fund (PIF), has bought minority stakes in four Egyptian companies for $1.3 billion, Egypt's planning ministry said on Wednesday. The companies are Abu Qir Fertizilers and Chemical Industries, Misr Fertilizers Production Company, Alexandria Container and Cargo Handling,…

Asharq Al-Awsat

PIF Launches Saudi Egyptian Investment Company

The Saudi Public Investment Fund (PIF) launched on Friday the Saudi Egyptian Investment Company (SEIC) to invest in promising sectors throughout Egypt, one of the world’s emerging markets. SEIC will invest in priority sectors including but not limited to, infrastructure, real estate development, health care, financial services, food and agriculture,…

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Asharq Al-Awsat

Saudi PIF Buys 23.97% Stake in Capital Bank Group

Saudi Arabia's sovereign wealth fund, the Public Investment Fund, said on Sunday it will buy a 23.97% stake in Capital Bank Group, one of the largest banking groups in Jordan, Iraq and the Middle East and North Africa (MENA) region. PIF will pay $185 million for the stake, by buying…

Chronicle Live

Have your say on Newcastle United's potential new Saudi-style third kit

The club are staying tight-lipped on whether the leak is legit, but if it is players will wear a Saudi Arabia-style away shirt next season.

Asharq Al-Awsat

Fitch Upgrades Saudi’s PIF Outlook to ‘Positive’

Ratings agency Fitch on Friday revised the outlook on Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), to "positive" from "stable" following a similar action on the country. It also affirmed the PIF's rating at "A". Fitch had cited improvements in Saudi Arabia's balance sheet due to higher…

Asharq Al-Awsat

Saudi Sovereign Wealth Fund Announces Joint Venture with Boeing

SAMI group, a wholly owned subsidiary of the Public Investment Fund and the Kingdom’s national defense localization champion, has announced a preliminary agreement with Boeing. Under the terms of the agreement, both companies will enter into a Kingdom-focused joint venture. The announcement was made at a signing ceremony during the…

Daily Mirror

Alan Shearer passionately defends Chelsea and Newcastle fans in speech on clubs' owners

Chelsea and Newcastle's owners, namely Russian oligarch Roman Abramovich and Saudi Arabia's Public Investment Fund respectively, have been in the spotlight this season

Asharq Al-Awsat

Cruise Saudi Appoints Lars Clasen as Chief Executive Officer

Cruise Saudi - a 100% Public Investment Fund-owned business - is pleased to announce the appointment of Lars Clasen as the company’s Chief Executive Officer. He is a global industry expert with 30+ years of experience in the shipping and cruise industries across Asia, Europe and North America. Fawaz Farooqui,…

Asharq Al-Awsat

Lucid to Produce 150,000 EVs Per Year in Saudi Arabia

Lucid Group signed an agreement with the Saudi Ministry of Investment, the Industrial Development Fund, and the Economic City at King Abdullah Economic City to construct a plant in the Kingdom that will produce 150,000 electric vehicles (EVs) per year. The Public Investment Fund holds a significant stake of 62…

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