Saudi Arabia’s Public Investment Fund (PIF) has raised its total assets to SR4.32 trillion ($1.15 trillion) by the end of 2024, marking an 18 percent increase from the previous year. This information was disclosed in a report filed with the London Stock Exchange. The sovereign wealth fund reported gross revenues of SR413 billion for 2024,...
Hyundai Motor Manufacturing Middle East (HMMME), a joint venture between the Public Investment Fund (PIF) and Hyundai Motor Company, has officially launched its $500 million car factory at the King Salman Automotive Cluster in King Abdullah Economic City (KAEC). The groundbreaking ceremony marks a significant step forward for the automotive sector in Saudi Arabia, according...
Hyundai Motor Manufacturing Middle East (HMMME), a joint venture between the Public Investment Fund (PIF) and Hyundai Motor Company, has officially broken ground on a new manufacturing plant. This event took place at the King Salman Automotive Cluster within King Abdullah Economic City (KAEC), marking a significant advancement for Saudi Arabia’s automotive sector, as reported...
Saudi Arabia’s Public Investment Fund (PIF) has reached out to bond investors for the second time this year, continuing its efforts to invest billions of dollars as part of a strategy to reduce the economy’s dependence on oil. PIF is currently accepting orders for a sale of benchmark-sized, U.S. dollar-denominated seven-year Islamic bonds, known as...
Saudi developer Emaar, The Economic City, has finalized a binding restructuring agreement with the Public Investment Fund (PIF) concerning a substantial loan deal valued at SR1 billion ($266 billion). This agreement marks a significant step for the company, which is the master developer of the King Abdullah Economic City located on the Red Sea coast....
Saudi Arabia’s Public Investment Fund (PIF) is preparing to invest approximately $100 million in the Malaysian airline group AirAsia. This investment is poised to enhance the Gulf kingdom’s connections with a region that serves as a significant source of tourism, as reported by sources familiar with the negotiations. The PIF is expected to be the...
Niantic, the U.S. company that made Pokémon Go, is allegedly in talks to sell its video game business to a division of Savvy Games Group, which is a branch of Saudi Arabia’s Public Investment Fund (PIF). The planned $3.5 billion deal could be completed in the next few weeks, according to Bloomberg report. The deal...