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  • Lucid Says Saudi Arabia’s PIF Was Supportive as Supply Crunch Hit

    Top shareholder Saudi Arabia has been supportive of Lucid Group Inc. during a supply crunch that forced two production target cuts this year, an official at the carmaker said on Thursday. Saudi Arabia’s Public Investment Fund, which owns just over 60% of the luxury electric-vehicle group, understands the challenges around supply chain issues and costs, said Faisal Sultan, managing director of global operations at Lucid. The company is not seeing pressure from investors.

  • PIF Creates Saudi-Egyptian Investment Company

    The Public Investment Fund (PIF) of Saudi Arabia launched the Saudi-Egyptian Investment Company (SEIC). The Saudi-Egyptian Investment Company will target investments in Egypt in areas such as infrastructure, real estate development, healthcare, financial services, food and agriculture, manufacturing, and pharmaceutical, along with other investment opportunities. “In light of the economic growth in the region, SEIC will capitalize on lucrative investment opportunities within a number of promising Egyptian economic sectors, which will also support the expansion efforts of Saudi businesses and other PIF portfolio companies,” Deputy Governor and Head of MENA Investments at PIF Yazeed Alhumied said.

  • Saudi PIF to invest RO115mn in Oman’s Rakiza Fund

    Founded by Oman Investment Authority and Equitix, Rakiza is a private equity fund and an infrastructure investor, targeting investment in Oman and Saudi Arabia. The fund focuses on renewable energy, electricity, water, social services infrastructure, telecommunications, and transportation and logistics sectors.

  • Opinion: Newcastle United on Inexorable Path to Football’s Summit With Saudi PIF Money

    Indeed, given its low-key business in the transfer market this offseason, Newcastle is showing no obvious sign — to the layman, at least — of being one of the latest sporting playthings of Saudi Arabia’s sovereign wealth fund. Look closer, though, and there is the occasional giveaway.

  • Saudi PIF-owned companies to develop, design luxury cruise terminal in Jeddah

    Two Saudi PIF-owned companies signed an agreement to design and develop a luxury cruise terminal in Jeddah, the official Saudi Press Agency reported on Tuesday. The MoU was signed between the Jeddah Central Project’s master developer Jeddah Central Development Company (JCDC), and Cruise Saudi, specialists in cruise ecosystem development, both fully PIF-owned companies.

  • Saudi wealth fund PIF launches new aircraft leasing company

    PIF has said AviLease would initially focus on scaling through purchase-and-lease-back transactions with airlines, portfolio acquisitions, and direct orders from aircraft manufacturers. AviLease’s fleet will consist of narrow-body and wide-body aircraft developed by leading manufacturers. It will also look into expansions through corporate acquisitions.

  • Saudi Arabia’s Retal signs $91m deal with PIF-backed Roshn to purchase plots in SEDRA

    Saudi Arabia’s Retal Urban Development has signed a SR339 million ($90.5 million) deal with the Public Investment Fund-backed Roshn Real Estate to buy 372 plots within its integrated community SEDRA in Riyadh. Saudi-listed Roshn said it plans to develop the land according to its guidelines for SEDRA, according to MEED.

  • Embracer CEO Gets Questioned on Values After Saudi PIF’s Savvy Gaming Stake

    Embracer Group AB’s chief executive says his “values as a Swedish entrepreneur are unwavering” in response to the many questions he has faced as a result of Saudi Arabia’s investment unit taking an 8% stake in the gaming firm. “I have been asked over the past few days why we are accepting investment from an entity in a non-democratic country,” Lars Wingefors said in a statement late on Friday. His remarks follow last week’s announcement that the Public Investment Fund’s Savvy Gaming Group is buying nearly 100 million shares in the Swedish company for 10.3 billion kronor ($1.02 billion).

  • Saudi PIF shortlisted as bidder for stake in Starbucks Mideast – sources

    Kuwait-based Alshaya Group, the region's leading brand franchise owner, last year hired JPMorgan (JPM.N) to sell a significant minority stake in the business. The sources said it could sell up to 30%, generating $4 billion-$5 billion.

  • Saudi PIF shortlisted as bidder for stake in Starbucks Mideast

    Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has been shortlisted to buy a stake in the Middle East, North Africa and central Asia Starbucks franchise held by Alshaya Group, two sources told Reuters.