The government will still be the largest shareholder in Aramco
Last week, Fitch Ratings gave the fund a rating of A
The Saudi benchmark index has jumped about 9 per cent this year
Yasir Al-Rumayyan, governor of the Public Investment Fund, will serve as non-executive chairman of Newcastle United
The transaction is in line with Public Investment Fund’s Strategy 2021-2025, which focuses on building strategic economic partnerships
The kingdom is looking to boost its environmental credentials
The Pagani family will keep full control of the company
The plant will start producing power in second half of 2022
Since 2015, the PIF’s assets under management have risen to $430bn from about $150bn
The crown prince’s economic transformation plan has identified Islamic pilgrimage as a key source of non-oil revenue
The PIF has made several high-profile investments in recent years
The new plan comes after the coronavirus pandemic and oil market turmoil created a double crisis for Saudi Arabia
The $400bn sovereign investor is key to the kingdom’s efforts to revive economic growth
The Public Investment Fund is raising about $15bn from a group of international banks to finance new investments
Lucid will now start production of its debut EV, a luxury sedan called the Air, in the second half of this year
The company will operate international and domestic flights
PIF aims to grow its assets under management to over $1.07 trillion by the end of 2025
The reshuffle comes as the PIF and its subsidiaries prepare to significantly increase domestic spending
Public Investment Fund and ADQ are weighing the purchase of Bausch Health’s Cairo-based drug unit
The sukuk will be used to help fund Acwa’s share of an $8bn acquisition of gasification and power assets at Jazan
The world’s largest crude exporter is relying on more borrowing as it grapples with the impact of the twin economic shocks caused by oil market turmoil and the coronavirus pandemic
The fund intends to play a leading role in refocusing the economy toward underdeveloped industries
The Red Sea Development Co. project, owned by the kingdom’s Public Investment Fund, is the biggest leisure development, spanning over 10,000 square miles
Marafiq’s shareholders include the Public Investment Fund, Saudi Arabian Oil Co. and Saudi Basic Industries Corp
The flagship Lucid Air EV will start at just under $80,000
The PIF received an injection of $40bn from the kingdom’s reserves in March and April
PIF has shifted its focus from being mostly a domestic holding company to an international investment vehicle with stakes in Citigroup, Facebook and Boeing Co
The Public Investment Fund disclosed stakes worth $10.1bn at the end of the second quarter
The combined bank would have total assets of about $210bn, making it the third largest in the region behind Qatar National Bank and First Abu Dhabi Bank
The government is looking to its largest-ever debt programme to keep the depletion of reserves limited to SAR120bn