The Latest Breaking News from Public Investment Fund

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 · Aug 11, 2022

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,…

Asharq Al-Awsat · Aug 5, 2022

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…

Asharq Al-Awsat · Jun 5, 2022

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 · Mar 15, 2022

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…

Asharq Al-Awsat · Mar 2, 2022

Arsenal fans join West Ham protest at Newcastle match over Saudi Arabia LGBT+ rights

Newcastle were bought by Saudi Arabia's Public Investment Fund in October, with fan groups from several Premier League clubs since holding protests against the country's appalling LGBT+ record

Daily Mirror · Feb 19, 2022

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…

Asharq Al-Awsat · Feb 16, 2022

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 · Feb 13, 2022

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…

Asharq Al-Awsat · Feb 12, 2022

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…

Asharq Al-Awsat · Feb 8, 2022