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Matthew Martin
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Saudi’s new airline says not hit by PIF spending review
Riyadh Air sees no let up in government financial support as it launches its first routes.
Riyadh Air CEO Tony Douglas. Fayez Nureldine/AFP via Getty Images.
Saudi Arabia business delegation to visit Pakistan
Pakistan is hoping that the visit will lead to about $1 billion of much-needed investment into its economy.
Saudi Crown Prince Mohammed bin Salman and Pakistan Prime Minister Shehbaz Shari. Saudi Press Agency/Handout via Reuters.
PIF hires banks for cybersecurity firm IPO
Saudi Arabia’s sovereign wealth fund hired Morgan Stanley and Riyad Capital to list tech firm SITE next year.
Courtesy of PIF
Saudi mining fund CEO Pierre Chenard steps down
Chenard was the first full-time CEO of Manara Minerals, PIF’s global mining investment unit, part of a push to turn the kingdom into a minerals hub.
A section of the Serra Norte iron mine, operated by Brazilian miner Vale. Amanda Perobelli/Reuters.
Gulf logistics gets $5B boost from Blackstone, Abu Dhabi’s Lunate
The new partnership will build up a dedicated team to target primarily investments in new warehouses and some acquisitions.
Courtesy of ADGM
Saudi megaproject executives detained by corruption watchdog
Several senior executives at Diriyah, a $63 billion real estate development, have been held in recent weeks.
Brian Snyder/Reuters
Saudi considers removing foreign investor restrictions on stocks
The Gulf’s biggest stock market is proposing scrapping rules that limit trading.
Saudi Arabia projects higher deficit on path to Vision 2030
The kingdom’s budget is closely watched by investors for signs of the government’s outlook on crude prices to prospects for construction spending.
Gulf sovereign funds boost European investing
Wealth funds are expanding investments in Europe even as they make pledges to pour trillions into the US.
Trump’s new $1B Saudi real estate development project
Trump Plaza Jeddah will be a mixed-use real estate site around a green spine inspired by New York’s Central Park.
Electric carmaker Lucid to build Saudi EVs next year
The announcement marks a shift from assembling imported kits to selling fully Saudi-made cars
Saudi crown prince orders rent freeze to curb Riyadh’s soaring prices
The five-year freeze adds to other steps, such as higher taxes on vacant plots and buildings, aimed at forcing more supply into the Saudi capital’s market.
Saudi’s proposed market reform shows renewed impetus for foreign cash
Eliminating the cap on foreign ownership may not draw in much cash, but signals competition for investment is heating up.
Global CEOs confirm for Riyadh’s ‘Davos in the Desert’
The Future Investment Initiative has grown in heft and expanded internationally since its launch in 2017.
Kuwait royal meets top US CEOs in New York
Sheikh Sabah Khaled Al-Sabah asked the CEOs he met with to boost their presence in Kuwait, according to official statements.
UAE surges as a global investor as Saudi net outflows stall
The UAE has emerged as a massive outward investor, a McKinsey report found.
Saudi’s PIF takes stake in Middle East media giant
PIF completed the $2 billion deal in mid-September, paying what appears to be a 30% premium to buy the stake from the kingdom’s finance ministry.
Saudi’s PIF partners with pension fund for aircraft leasing unit
Pension fund Hassana has been taking an increasingly prominent role backing global fund managers that commit to investing in Saudi Arabia.