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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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Understanding Vision 2030’s impact on media perceptions of Saudi Arabia’s with Rawan Hashem; also, Hevolution’s rise, Tourism in KSA and much more
Episode 102! Rawan Hashem from the data insights firm Carma joins The 966 to discuss evolving media perspectives of Saudi Arabia and Vision 2030. Before the conversation, the hosts discuss the new organization in Saudi Arabia, called Hevolution, and its $1 billion mission to advance humanity’s fight against aging based on a recent Wall Street Journal article from this […]
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Saudi Arabia’s PIF Invests $100 Million in the US-based Professional Fighters League Mixed Martial Arts
Saudi Arabia’s Public Investment Fund, using a new investment vehicle, will reportedly make the Kingdom’s first foray into mixed martial arts (MMA) by investing $100 million in the US’s Professional Fighters League and creating a regional tournament, the Financial Times reports.
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More on Saudi-Israel normalization reports, Lucid’s future, and Kuwait University’s Bader Al-Saif joins The 966
Episode 98! Dr. Bader Al-Saif, founding President at Al-Saif Consulting and Assistant Professor at Kuwait University joins The 966 to talk about Saudi Arabia as an emerging economic and diplomatic power in a changing region. Al-Saif is also a visiting researcher at Georgetown University, where he completed his PHD in history, and a non-resident fellow […]
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Lucid Air Limited Assembly In Saudi Arabia To Start In September; Company Slashes ‘Air’ Model Price
Lucid Motors, an EV company in which the Saudi Arabian Public Investment Fund (PIF) has a majority ownership stake, announced its second-quarter financial results yesterday, and provided some updates on its plans during an earnings call lead by CEO Peter Rawlinson. Lucid on Monday reported revenue in the April-June period of $150.9 million, missing estimates […]
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PIF Announces Establishment of a Female-Centered Health and Well-Being Company, the Kayanee Company, with Princess Reema Bint Bandar as its Leader
Saudi Arabia’s Public Investment Fund (PIF) announced on Monday the establishment of a female-centered health and well-being company with Princess Reema bint Bandar as its head, the Saudi Press Agency (SPA) reported.
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Saudi Arabia’s SEVEN Breaks Ground on BUJV, a $347 Million Entertainment Project in Madinah
Saudi Entertainment Ventures (SEVEN), a wholly-owned subsidiary of the Public Investment Fund (PIF), has announced its construction work on BUJV, its new entertainment destination in Madina, according to a report in Construction Week Online and a press release from SEVEN.
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MUST-READS
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Saudi Arabia’s Public Investment Fund Sold Tesla Stock Before Rally
Saudi Arabia’s sovereign-wealth fund sold almost all of its Tesla Inc. shares last quarter, nearly exiting what had been one of the largest holdings in the electric-car maker. The Saudi Arabia Public Investment Fund held just 39,151 shares at the end of the year, according to a regulatory filing. The fund previously had more than 8.2 million shares and ranked among the five biggest owners, according to data compiled by Bloomberg.
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Saudi Public Investment Fund signs $10 bln loan
Saudi Arabia’s Public investment Fund (PIF) on Wednesday signed a $10 billion loan, an executive said.
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Assets of Saudi Public, Private Investment Funds Amount to $86.1 Bn
The value of public and private assets of investment funds in Saudi Arabia registered a new leap during Q2 2019, amounting to SAR323 billion ($86.1 billion), compared to SAR310 billion ($82.6 billion) in Q1 of the same year. According to Saudi Capital Markets Authority (CMA), the value of public and private funds’ assets jumped by 4.1 percent in the Q2 2019 while the value of the private investment funds’ assets grew by 3.5 percent, and the value of public fund assets grew by 5.3 percent.
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Saudi Public Investment Fund zeros in on China despite US investments
“The U.S. is our No. 1 target of investments. Most innovation happens in U.S. We have deployed directly and indirectly more than $50 billion in the past two years in the U.S. So that’s a big demonstration to the interest that we have here.”
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Saudi Arabia’s Public Investment Fund brings on Karv Communications
Karv has been tasked with letting investors, potential portfolio companies, business leaders, the media, and others know that PIF is focused on business. Its $120,000-a-month contract, as first reported by Al-Monitor, stipulates that it "create a clear distinction between [PIF] (and its investment-driven mission) and the political leadership in Saudi Arabia," according to documents filed with the Department of Justice.
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Saudi Arabia’s Public Investment Fund setting up shop in London and New York
Saudi Arabia's huge sovereign wealth fund is coming to Silicon Valley and Wall Street as it aims to pour billions more into foreign investments.
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Saudi’s Public Investment Fund breathes new life Into Tesla rival Lucid
Just weeks after it emerged that the kingdom’s Public Investment Fund had built a stake in Tesla Inc., the sovereign wealth giant signed an agreement to invest more than $1 billion in Lucid, which is aspiring to take on the Elon Musk-led company.
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Commentary: How the Saudi Public Investment Fund could fund Tesla deal
The big question that's swirled around the Saudi-Tesla connection is whether the PIF can actually afford to do a deal. There is also a related issue: approval of any such massive investment from outside the US by the Committee on Foreign Investment in United States (CFIUS).
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Subsidiary of Saudi Arabia’s Ma’aden amends loan terms with Public Investment Fund
State-controlled Ma’aden said MBAC had agreed with the Public Investment Fund (PIF) to amend the terms of an existing 3.75 billion riyal loan provided by the kingdom’s sovereign wealth fund.
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Phillip Cornell on Saudi Arabia’s Public Investment Fund: Video
Phillip Cornell, nonresident senior fellow with the Atlantic Council’s Global Energy Center, discusses Saudi Vision 2030’s drive for investment through the Public Investment Fund, and the prospects for a public listing of Saudi Aramco.
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