The steel manufacturing base has a designed annual capacity of 2.5 million tonnes of direct reduced iron and 1.5 million tonnes of steel plate
The state remains the largest shareholder in Aramco after the transfer, as it retains more than 90 per cent of the company’s shares
The company will benefit from Savvy’s long-term financial backing to deliver on its strategy to grow and deepen existing franchises
The kingdom has one of the highest reserve coverage ratios among Fitch-rated sovereigns at 18 months of current external payments
The deal is the largest of its kind signed in the Saudi banking industry
Fitch Ratings, one of the big three rating agencies, assigns Saudi Arabia the same score as S&P Global while Moody’s has it one level higher
The strategy aligns with the fund’s aim to support the private sector in increasing its contribution to GDP by up to 65 per cent by 2030
Riyadh will be the company’s operational hub, and will connect the Saudi capital to over 100 destinations globally
The deal comes amid expectations of lucrative business opportunities in Saudi Arabia and the Middle East
Saudi Coffee Company‘s chairman Fahad Alnuhait tell us how the company is protecting the legacy of the kingdom’s coffee farmers
Emkan Capital’s technology fund will invest in pre-seed and seed-stage companies with high-growth potential
The fund has already invested in 16 companies and plans to list three of them on the Saudi stock exchange and two in the US next year
The joint-venture company aims to initially invest in iron ore, copper, nickel, and lithium as a non-operating partner taking minority equity positions
The proposed initial public offering of Olam Agri in Saudi Arabia would be the first listing of a global company in the country
The investment will allow the sovereign wealth fund to participate in the acceleration of energy transition and clean energy at an international scale
The two entities will collaborate to attract regional and international investors, and boost foreign direct investment into Saudi Arabia
Telcos are already speeding the digitisation journey with new products and solutions developed on their own or through public-private partnerships
The project will include four landmarks – an opera House, museum, sports stadium and oceanarium, as well as 17,000 residential units
The Public Investment Fund offered 120 million shares in Saudi Telecom at SAR100 each
According to PIF, it is the world’s ‘first tourism destination on offshore platforms’
The $1.2bn IPO by ACWA Power International had initial demand amounting to several billion dollars
Goldman banker Eyas AlDossari will head investment advisory within the MENA Investments Division of the fund
Aberdeen and Investcorp announced the fund two years ago with a view to channel investment into the Middle East’s health care, education and utilities industries
The project is linked to existing plans to build up automotive infrastructure in the country
A $550m cash infusion led by Saudi Arabia’s Public Investment Fund in 2019 valued the company at about $2bn
The National Security Services Company, also known as SAFE, will focus on providing a range of specialised services
The reshuffle comes as the PIF and its subsidiaries prepare to significantly increase domestic spending
SABIC reported its biggest quarterly loss in at least a decade in the three months through June
The consortium formally withdrew its interest because of the prolonged process and current challenges
Aramco will push back the bulk of installments until after 2022 and delay the final one by three years until 2028