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  • Empowering Saudi Arabia’s private sector is at the heart of everything PIF does

    That is why PIF puts empowering Saudi Arabia’s private sector at the heart of everything we do, and why this week, over 4,000 private sector representatives from across the Kingdom representing a diverse range of sectors came together with more than 50 PIF portfolio companies, government ministers and senior PIF executives. For us, it was an exciting opportunity to engage with corporates and small and medium enterprises who want to grow their businesses, and ensure that the private sector has visibility and access to the opportunities that PIF is creating. For the attendees from the private sector, it was a venue to connect with PIF portfolio companies representing multiple billions of riyals of future domestic procurement opportunities. The Private Sector Forum is the latest PIF initiative dedicated to empowering the private sector; it is an extension of the fund’s efforts to champion the private sector, build a more resilient domestic economy, and increase local content across its portfolio companies to 60 percent by 2025.

  • Beta Lab launches in Saudi Arabia to scale homegrown deeptech startups

    Beta Lab, a VC and co-creation studio for startups dedicated to fostering the growth of deep technology startups, is pleased to announce its official launch in Saudi Arabia with number of partners including Saudi Ministry of Investment, Future Investment Initiative Institute (FII), KBW Ventures, and a number of global partners.

  • Saudi Arabia Grand Prix 2023: Date, start time, TV channel and live stream

    The 2023 F1 season continues apace this weekend with the Saudi Arabia Grand Prix at the Jeddah Corniche circuit, with one question dominating all else. Can anybody stop Red Bull?

  • Aston Martin Reveals Huge Partnership Ahead Of Saudi Arabian GP

    After a long hiatus, Saudia Airlines is back in the Formula 1 game as the official global airline partner of the Aston Martin team. This marks the airline's triumphant return to the sport where it once held an iconic status as the sponsor of the Williams team. In the late 70s, Frank Williams became the first team boss to seek financial support from the Middle East, with Saudia being one of the airline companies that answered his call.

  • Saudi Arabia Announces New Partnership with Boeing -The Embassy of The Kingdom of Saudi Arabia

    “The enduring strategic partnership between both countries is enhanced by a common vision to expand cooperation into different fields, like transportation, which opens up many opportunities for both countries” said Saudi Arabia’s Ambassador to the United States HRH Princess Reema bint Bandar Al-Saud. “Today’s announcement is that common vision in action.” “Not long after the founding of the modern Saudi state, it was American companies that helped build our young economy,” stated the Ambassador. “And American companies will continue to be an important part of our bold future,” she continued.

  • Saudi Arabia’s FM Prince Faisal meets French counterpart in Paris

    Saudi Arabia’s Minister of Foreign Affairs Prince Faisal bin Farhan met with his French counterpart Catherine Colonna in Paris on Friday. The diplomats reviewed relations and ways to further develop ties, the Saudi Ministry of Foreign Affairs said in a statement.

  • Saudi Arabia records 6 percent surge in SMEs after expanding startup ecosystem

    Saudi Arabia’s quickly growing startup ecosystem is motivating small and medium enterprises in the nation, with the amount of these kind of companies jumping to 1.14 million by the end of the fourth quarter of last year. The most recent SME Monitor report issued by Saudi Arabia’s General Authority for Small and Medium Enterprises, also recognized as Monsha’at, issued that the nation saw a 6 percent quarter-on-quarter expansion in the amount of SMEs throughout the fourth quarter of 2022.

  • Saudi Arabia’s PIF Set to Start Investor Meetings for $1 Billion ADES IPO

    Saudi Arabia’s wealth fund plans to kick off investor meetings for the initial public offering of oil and gas driller ADES International Holding as soon as this month, people familiar with the matter said. The Public Investment Fund is targeting a first-half listing for ADES and is likely to soon file with the Saudi regulator, the people said, asking not to be identified as the matter is private. The PIF has picked Lazard Ltd. as a financial adviser to work on the IPO, they said.

  • AMEX Saudi Arabia signs golf tournament partnership with AmCham

    The American Chamber of Commerce Saudi Arabia signed a partnership with American Express Saudi Arabia to merge communities, spark networking and strengthen business corporations through golf during a signing ceremony at AMEX Saudi headquarters on Sunday. “I couldn’t be happier to renew this great partnership between American Express and the American Chamber. It’s a win-win situation for us and for American Express, and for the wider Saudi golf and sports community,” said Bill Foster, American Chamber of Commerce Saudi Arabia chair.

  • Charting a Path for Cycling the Arab World

    As part of their regional economic diversification plans, Gulf countries are increasingly investing in sports-related ventures. Qatar hosted the 2022 FIFA World Cup. Saudi Arabia won a bid to host the 2029 Asian Winter Games, purchased England’s Newcastle United Football Club, and attracted football, or soccer, star Cristiano Ronaldo to the Saudi Al-Nassr Football Club. However, another sport has been the focus of considerable, yet quiet, investment in recent years: cycling.