ECONOMY | Saudi Sovereign Wealth Fund Hires New Corporate Finance Head, Makes Other Changes

RIYADH – – Saudi Arabia’s sovereign wealth fund has hired Fahad al – Saif, the chief executive of the finance  ministry’s debt management centre, as its new corporate finance head. He replaces Alireza Zaimi, who will become a special advisor to the fund’s  governor Yasir al – Rumayyan, the Public Investment FUND (PIF) said in … More ECONOMY | Saudi Sovereign Wealth Fund Hires New Corporate Finance Head, Makes Other Changes

BUSINESS | Saudi Arabia’s PIF Continues To Invest In Indian Companies

Saudi Arabia’s Public Investment Fund (PIF) is continuing to focus on acquisitions in the Indian private sector. It recently invested $500 million (SAR 1.88 billion) in the Digital Fiber Infrastructure Trust (DFIT). Earlier this year, the PIF signed a definitive agreement to acquire a 2.32% stake in India’s Jio Platforms for nearly 1.5 billion. The … More BUSINESS | Saudi Arabia’s PIF Continues To Invest In Indian Companies

SPORTS NEWS | Saudi-Led Consortium Pulls Out Of Newcastle United Takeover Bid

RIYADH | SAUDI ARABIA – A consortium led by Saudi Arabia’s Investment Fund has withdrawn a proposed take – over of Newcastle United, the English Premier League football club. A statement from the investment group, which also included U.K. investor Amanda Staveley’s PCP Capital and the family business of British entrepreneur Reuben Brothers said the … More SPORTS NEWS | Saudi-Led Consortium Pulls Out Of Newcastle United Takeover Bid

ECONOMY | Saudi Wealth Fund PIF Has Ample Liquidity: Finance Minister

RIYADH | SAUDI ARABIA – Saudi Arabia’s finance minister said on Wednesday that the kingdom’s sovereign wealth fund, the Public Investment Fund (PIF) has ample liquidity in the local market. He added that the PIF would allot via secondary offerings part of their local holdings to make sure they ‘recycle mature investments’ and invest in … More ECONOMY | Saudi Wealth Fund PIF Has Ample Liquidity: Finance Minister

BUSINESS | Saudi Telecom Extends Vodafone Egypt Stake Purchase For Second Time

RIYADH | SAUDI ARABIA – Saudi Arabia’s largest telecoms operator Saudi Telecom CO said on Sunday it would need another two months to complete the purchase of Vodafone Group’s 55% stake in Vodafone Egypt. STC signed a non-binding agreement in January to buy the majority stake for $2.4 billion, but extended the process in April … More BUSINESS | Saudi Telecom Extends Vodafone Egypt Stake Purchase For Second Time

BUSINESS | Saudi Arabia’s PIF Discloses 5.7% Stake In Live Nation

RIYADH | SAUDI ARABIA – Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), SICLOSED A 5.6%  passive stake in Live Nation Entertainment Inc. on Monday, sending the concert promoter’s shares up 2% in early trading. The ownership of 12.34 million shares makes the investment fund the third-largest stakeholder in the company, according to … More BUSINESS | Saudi Arabia’s PIF Discloses 5.7% Stake In Live Nation

BREAKING NEWS | Grifols To Help Saudi Arabia Produce Blood Plasma Medicines

MADRID | SPAIN – – Spanish pharmaceutical company Grifols said on Tuesday it had signed a non-binding agreement with Saudi Arabia’s sovereign wealth fund to help the country produce plasma-derived medicine. Barcelona – based Grifols and the Public Investment Fund (PIF) have agreed in principle to create a joint venture that will develop plasma collection … More BREAKING NEWS | Grifols To Help Saudi Arabia Produce Blood Plasma Medicines