PIF

Middle East

Saudi wealth fund PIF acquires 15 pc stake in Heathrow Airport

In a significant move, the Kingdom of Saudi Arabia’s Public Investment Fund (PIF) has acquired a 15 percent stake in FGP TopCo, which is the holding company of London‘s Heathrow Airport. The…
Middle East

PIF, Google Cloud to set up AI hub in Saudi Arabia

The Kingdom of Saudi Arabia’s Public Investment Fund and Google Cloud recently announced a strategic partnership to create a new global artificial intelligence (AI) hub near Dammam, in Saudi Arabia’s Eastern Region.…

Sports

Saudi PIF becomes first-ever sponsor of WTA rankings

The Kingdom of Saudi Arabia’s Public Investment Fund (PIF) recently signed a multiyear partnership deal with Women’s Tennis Association (WTA), marking a significant milestone in the sport’s history. The partnership aims to…
Middle East

Saudi Arabia’s PIF, STC to set up Middle East’s largest telecom tower company

The Kingdom of Saudi Arabia’s Public Investment Fund (PIF) is acquiring a 51 percent stake in Tawal, the largest telecommunications infrastructure company in the country, valued at 5.85 billion dollars (Rs 4,87,76,45,17,500).…
Middle East

Saudi Crown Prince announces transfer of 8% Aramco shares to PIF firms

Riyadh: The Kingdom of Saudi Arabia’s Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud on Thursday, March 7, announced the transfer of 8 percent of Aramco shares to companies fully owned by…
Middle East

PIF, Hyundai to set up car manufacturing plant in Saudi Arabia

Riyadh: Saudi Arabia’s Public Investment Fund (PIF) has signed an agreement with South Korea’s Hyundai Motor to build a vehicle manufacturing plant in the Kingdom. The move is part of the ongoing…
Middle East

Saudi Arabia launches own cruise line brand, to create 50K jobs

Riyadh: The Kingdom of Saudi Arabia (KSA) has launched its own cruise line brand, AROYA Cruises, the Saudi Press Agency (SPA) reported. Cruise Saudi, owned by the Public Investment Fund (PIF), is set…

Middle East

Four major Saudi clubs transformed into companies owned by PIF

Riyadh: The Kingdom of Saudi Arabia’s Sports Minister announced on Monday the transforming of ownership of four major clubs into companies owned by the Public Investment Fund (PIF), the Saudi Press Agency…
Middle East

Saudi Arabia’s PIF establishes 5 regional investment companies

Riyadh: The Kingdom of Saudi Arabia’s crown prince and Prime Minister, Mohammed bin Salman, on Wednesday announced that the Public Investment Fund (PIF) has established five regional companies in Jordan, Bahrain, Sudan,…
Middle East

Saudi Downtown company launched to create urban centers in 12 cities

Riyadh: Saudi Crown Prince Mohammed bin Salman Al Saud on Monday launched the Saudi Downtown Company (SDC), which aims to establish and develop urban centers and multiple and diverse destinations throughout the…
Middle East

Saudi Arabia seeks to buy stake in Starbucks

Riyadh: The Kingdom of Saudi Arabia’s Public Investment Fund (PIF), which is chaired by Crown Prince Mohammed bin Salman, is seeking to acquire a stake in the franchise of the Starbucks chain…
Middle East

Saudi Arabia launches aircraft leasing company ‘AviLease’

Riyadh: Saudi Arabia announced the founding of an aircraft leasing company named AviLease, as a way to diversify the kingdom’s oil-reliant economy. Sponsored by the Public Investment Fund (PIF), a sovereign wealth…