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  • Saudi PIF buys 23.97% stake in Jordan’s Capital Bank Group

    The $600 billion Saudi state fund will pay $185 million for the stake, by buying 63 million new shares of the bank, it said in a statement. The deal aims to increase the banking group's total shareholder equity to around $846 million, bolstering its ability to execute its strategy and expand its business, the statement said.

  • Saudi PIF buys 23.97% stake in Jordan’s 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. The $600 billion Saudi state fund will pay $185 million for the stake, by buying 63 million new shares of the bank, it said in a statement.

  • PIF’s ROSHN seen as a major player in Jeddah’s future real estate development

    ALAROUS is ROSHN's second community, and part of a larger strategy of developing modern and vibrant neighborhoods in four regions and nine cities in the Kingdom of Saudi Arabia.

  • With 500,000 jobs and 50 new companies, PIF finds Saudi Arabia a place in the sun

    PIF is currently one of the world’s largest and most influential sovereign wealth funds, with total assets under management at around $620 billion. Since 2016, the PIF has founded 50 companies, including the recently launched Saudi Coffee Co., and altogether these firms have generated over 500,000 direct and indirect jobs.

  • With 500,000 jobs and 50 new companies, PIF finds Saudi Arabia a place in the sun

    Since 2016, the PIF has founded 50 companies, including the recently launched Saudi Coffee Co., and altogether these firms have generated over 500,000 direct and indirect jobs.

  • Prince Alwaleed sells 16.87% stake in Kingdom Holding to PIF in $1.5bn deal

    Kingdom Holding, the Saudi Arabian investment company controlled by Prince Alwaleed bin Talal, sold a 16.87 per cent stake in the company to the Public Investment Fund, the country’s sovereign wealth fund, in a deal valued at $1.5 billion. The company is selling 625 million shares to the PIF at a price of 9.09 Saudi riyals ($2.42) each, the company said in a statement to the Tadawul Stock Exchange, where its shares are traded. The company's share price is about 9 per cent lower since the start of the year.

  • Prince Alwaleed sells 16.87% stake in Kingdom Holding to PIF in $1.5bn deal

    In its home market, the company controls Kingdom Hospitals and Kingdom Schools, Saudi petrochemicals company Tasnee, budget airline flynas, private aviation company NasJet and digital services company Deezer, among others. Kingdom Holding reported a huge jump in its first-quarter profit, driven by gains on the sale of half of the company’s stake in an associate, as well as improved hotel revenue and other operating revenue.

  • Saudi Arabia’s sovereign wealth fund PIF launches coffee company

    The Saudi Coffee Company plans over the next 10 years to invest nearly 1.2 billion Saudi riyals ($320m) in the national coffee industry, with the goal of boosting the country’s production from 300 tonnes per year to 2,500

  • Saudi Arabia’s sovereign wealth fund PIF launches coffee company

    Saudi Arabia's sovereign wealth fund PIF launches coffee company Saudi Coffee Company will invest $320m over 10 years to develop the national coffee industry and boost production capacity to 2,500 tonnes annually A Saudi farmer roasts Khawlani coffee beans at a coffee farm in Saudi Arabia's southwestern region of Jazan. This region is known for its red Khawlani coffee beans, often blended with cardamom and saffron to give a yellowish hue of coffee -- locally known as ghawa. AFP  

  • Elon Musk Texts With Saudi’s PIF Shed Light Around Taking Tesla Private Tweets

    But while Musk says he lined up $46.5 billion to fund his bid for the social media platform, the text messages from 2018 serve as a reminder that the 50-year-old billionaire can also change his mind. And when angered, he doesn’t forget.