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Fitch Affirms Saudi Arabia’s Public Investment Fund at ‘A+’; Outlook Stable
Fitch Ratings has affirmed Saudi Arabia’s Public Investment Fund’s (PIF) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at ‘A+’ with Stable Outlook, the organization said in a press release.
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The Saudi economy and government spending with former IMF Country Head for Saudi Arabia Tim Callen, big announcements from The 966, and much more…
Tim Callen, ex-IMF Mission Chief to Saudi Arabia and Visiting Fellow at AGSIW, joins The 966 to discuss Saudi Arabia’s budget, government spending, and more. Tim’s most recent piece for AGSIW discusses how increased spending in Saudi Arabia raises risks to the Saudi budget. The hosts take advantage of Tim’s extensive experience and vast knowledge on how […]
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Saudi Arabia signs $533m deals with Africa; PIF Plans Investment Announcements – Reports
Saudi Arabia signed over SR2 billion ($533 million) worth of agreements with African countries during a special conference in a “significant boost to the Kingdom’s ties with the continent,” according to reports.
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The 966 talks with Mohammed Ghazi and Abdulhadi Azouz, the two guys behind Saudi Arabia’s hottest drone and aerial film production company
Chances are if you’ve seen any of the high-quality, professionally-produced promotional videos from Saudi government authorities or leading Saudi companies anywhere online, you’ve seen some incredible drone footage of Saudi Arabia. The 966 welcomes on to the program for Episode 109 Mohammed Ghazi and Abdulhadi Azouz from the aerial drone production company AZAerials, which films many of these amazing shots for high-profile […]
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Discussing Saudi Arabia’s Regional HQ program with Mansour El-Zahab and Zeynep Kösereisoğlu from Frontierview and much more…
In episode 108, Mansour El-Zahab and Zeynep Kösereisoğlu from Frontierview, a leading market intelligence and research company, join The 966 to discuss Saudi Arabia’s Regional HQ program (commonly referred to as the “RHQ” program) and dive into some of the legal and practical details ahead of the effective date of the program starting in 2024. The RHQ program is the […]
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Shares of oil and gas driller ADES Holding Climbed Almost 30% above its listing price on its market debut in Riyadh
Shares of oil and gas driller ADES Holding climbed almost 30% above its listing price on its market debut in Riyadh on Wednesday after raising $1.22 billion in an initial public offering last month, according to Reuters.
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The Growing Size and Role of the Public Investment Fund (PIF) in Saudi Arabia with Robert Mogielnicki, FII 2023, Saudi World Cup and more…
Dr. Robert Mogielnicki, Senior Resident Scholar at The Arab Gulf States Institute in Washington and professorial lecturer at George Washington University joins The 966 to discuss the growing size and role of the Kingdom’s sovereign wealth fund, the Public Investment Fund (PIF). Robert has previously characterized the PIF as, “screaming onto the scene” with an […]
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PIF Announces Establishment of Al Balad Development Company (BDC) to become the main developer of Jeddah’s historic Al Balad District
The Public Investment Fund (PIF) announced the establishment of the Al Balad Development Company (BDC), which will become the main developer of Jeddah’s historic Al Balad district, “in line with the continuous efforts led by His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz to revitalize Historic Jeddah to transform Jeddah into an economic hub, […]
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Lucid Opens First-Ever Auto Plant in Saudi Arabia
Lucid has opened the first ever car manufacturing plant in Saudi Arabia at the King Abdullah Economic City as the kingdom looks to establish itself as a global player in the EV race.
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The CEO of Riyadh’s financial district, Gautam Sashittal, joins The 966 to talk about the Kingdom’s original giga-project and the city of the future
Gautam Sashittal, the CEO of Riyadh’s financial district that has redefined Riyadh’s skyline and is the city’s most sought-after business address and lifestyle destination, joins The 966 podcast. The district is home to many of Saudi Arabia’s largest companies and regional headquarters of international corporations doing business in the region, as well as the Kingdom’s […]
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MUST-READS
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Fitch Revises Outlook on Public Investment Fund to Positive; Affirms at ‘A’
Fitch Ratings has revised the Outlook on Public Investment Fund's (PIF) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) to Positive from Stable and affirmed the IDRs at 'A'. The Positive Outlooks reflect that on the sovereign. A full list of rating actions is below.
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Fitch Rates Public Investment Fund of Saudi Arabia ‘A’; Outlook Stable
PIF receives regular support from the government of Saudi Arabia, including capital injections. For the last three years the government's cash injections to PIF totalled SAR288.8 billion (USD77 billion) and represented on average close to 10% of the fund's total assets.
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Public Investment Fund Grows, Bets Big on Tech
The PIF signaled a serious interest in global technology investments with its massive $45 billion commitment to the SoftBank Vision Fund, the world’s largest technology investment fund, in 2018. A more modest $1.3 billion investment in Lucid Motors by the PIF in 2018 was nevertheless worth $41 billion after three years, owing to a successful initial public offering by the electric vehicle maker. The Saudi fund’s strategy for 2021-25 reaffirms the significance of local and international technology firms in its investment portfolio.
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Signa Sports Attracts Investment From Saudi Arabia’s Public Investment Fund
The total investment by the group and other investors would total more than $370 million, according to people familiar with the matter, and link to Signa’s plan to go public in New York through its previously announced merger with Yucaipa Acquisition Corp. , a special-purpose acquisition company, or SPAC, led by California billionaire Ron Burkle. The deal could be announced as soon as Friday.
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Saudi Arabia Public Investment Fund Joins The Race For A Stake In FC Inter
Negotiations with FC Inter majority owner - Chinese e-commerce giant Suning Holding Group - are being led by PIF governor and manager Yasir Al-Rumayyan.
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The next steps for Saudi Arabia’s sovereign Public Investment Fund
With assets worth approximately US$300 billion, the Public Investment Fund is currently the 10th largest sovereign wealth fund (SWF) globally. Its capital is expected to increase dramatically, targeting US$400 million by 2020 and US$2 trillion by 2030.
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Saudi Arabia’s Public Investment Fund to invest $1.3 bln in Reliance Retail
Saudi Arabia’s Public Investment Fund will invest 95.55 billion rupees ($1.29 billion) for a 2.04% stake in Reliance Industries’ retail arm, giving the unit a pre-money equity value of 4.59 trillion rupees, the Indian conglomerate said on Thursday.
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Saudi Arabia’s Public Investment Fund looks to invest up to $1 billion in Jio’s fibre assets
Both ADIA and PIF have contributed a total $2.2 billion to Jio Platform's $20.8 billion fundraise that saw 13 investors, led by Facebook, coming on board in less than three months. A fibre deal could further strengthen ties between the Kingdom and India's biggest company.
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Saudi Arabia’s Public Investment Fund Goes on a Spending Spree
The PIF increased its holdings of U.S.-listed equities to $10 billion in the early months of 2020, up from around $2 billion at the outset of the year.
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Saudi Arabia’s Public Investment Fund Invests In Stephen Ross’ Related
Related closed on the deal with PIF in the first week of February, according to Vanity Fair, when the real estate market was still robust and the coronavirus pandemic hadn’t yet ravaged the global economy. The investment comes in the form of convertible debt, convertible into 15 percent of the development firm’s equity. Related is one of the most prominent private real estate developers in the country, with megaprojects such as the $25 billion Hudson Yards on Manhattan’s Far West Side, the Time Warner Center in Columbus Circle and Related Santa Clara in Northern California.
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