Saudi Arabia’s Public Investment Fund (PIF) reported that its revenue rose 9 per cent in 2025 to $120bn, while net profit more than doubled to $17bn as stronger contributions from maturing portfolio companies boosted results.

The sovereign wealth fund retained more than $900bn in assets under management and reported an annualised total shareholder return of 5.8 per cent since 2017, according to its 2025 annual report.

PIF said its 2025 shareholder return benefited from higher dividends from portfolio companies and gains from financial investments, although these were partly offset by lower valuations for some assets amid wider market conditions and continued long-term domestic investment.

The fund invested more than $199bn cumulatively in Saudi Arabia between 2021 and 2025 and said it contributed more than $342bn to the kingdom’s real non-oil gross domestic product over the same period.

PIF’s contribution to the GDP

PIF accounted for 11 per cent of Saudi Arabia’s total non-oil GDP in 2025, it said.

“Throughout 2025, PIF continued to drive Saudi Arabia’s economic development and diversification through long-term investments and the launch of strategic companies,” Maram Aljohani, chief of staff and secretary general to the board at PIF, said.

“PIF contributed 11 per cent of Saudi Arabia’s total non-oil GDP in 2025 and contributed more than $342bn cumulatively from 2021-2025.”

International investments grew 12 per cent in 2025 as PIF expanded its overseas presence, including through new subsidiary company offices in Paris, Beijing and Shanghai, adding to existing locations in London, New York and Hong Kong.

The fund also launched companies, including artificial intelligence venture HUMAIN and Expo 2030 Riyadh Company during the year.

It signed agreements with Goldman Sachs Asset Management, Macquarie Asset Management and Italian export credit agency SACE as part of efforts to mobilise capital and attract investment into Saudi Arabia.

“Building on a sustained period of growth and disciplined investment, 2025 marked another defining year for PIF,” said Yasir Alsalman, CFO and acting head of Global Capital Finance Division at PIF.

“In 2025, PIF more than doubled net profit year on year and maintained its strong financial position with over $900bn in assets under management.”
PIF also issued its first euro-denominated green bond and established a commercial paper programme during 2025.

Stable outlook

It maintained long-term ratings of Aa3 with a stable outlook from Moody’s and A+ with a stable outlook from Fitch, while securing an inaugural A-1 short-term rating from S&P.

The fund said it launched 100 new digital applications and activated 43 high-impact AI-enabled solutions during the year as it expanded the use of data, analytics and artificial intelligence across its operations.

The results marked the final year of PIF’s 2021-2025 strategy. Its 2026-2030 strategy will focus on six interconnected domestic ecosystems, alongside international investments in areas including artificial intelligence, the energy transition, advanced manufacturing, and sports and entertainment.

AD Ports Group reported an 88 per cent increase in second-quarter net profit to Dhs836m, as stronger maritime, logistics and economic zone operations helped offset disruption caused by the crisis around the Strait of Hormuz.

Revenue for the three months rose 47 per cent from a year earlier to Dhs7.08bn, while earnings before interest, taxes, depreciation and amortisation increased 49 per cent to Dhs1.74bn, the Abu Dhabi-listed company said.

Its EBITDA margin widened to 24.5 per cent from 24.2 per cent a year earlier.

The results included proceeds from the sale of a warehouse by the group’s Economic Cities and Free Zones business. The transaction contributed Dhs650m to revenue and Dhs294m to EBITDA during the quarter.

“AD Ports Group delivered a record financial performance in Q2 despite operating through perhaps the most significant challenge in its 20-year history,” managing director and group CEO Captain Mohamed Juma Al Shamisi said.

The company said it had expanded alternative sea, land and air routes under the UAE’s National Programme to Strengthen Supply Chain Resilience after traffic through the Strait of Hormuz was disrupted.

Measures included rerouting cargo and feeder services through Fujairah Terminals and Khor Fakkan Port, deploying 400 additional trucks, increasing rail services with Etihad Rail and chartering six aircraft for critical commodities such as food and pharmaceuticals.

A fleet of 27 container vessels and five bulk ships operated along alternative corridors connecting ports in India, Pakistan, Oman, the Red Sea and the upper Arabian Gulf. The group also expanded dedicated warehousing and storage capacity to more than 54,000 square metres.

Revenue from the Maritime and Shipping business, which accounted for 53 per cent of group revenue, climbed 62 per cent to Dhs3.82bn. Its EBITDA increased 79 per cent to Dhs1.03bn.

Container feeder volumes fell 11 per cent year on year to 740,000 twenty-foot equivalent units, but the decline was more than offset by higher shipping rates.

Average rates on Gulf and Indian subcontinent services jumped 96 per cent, while Red Sea rates increased 37 per cent.

Economic Cities and Free Zones revenue more than doubled to Dhs1.29bn, although growth was 15 per cent after excluding the warehouse sale. The division’s EBITDA doubled to Dhs659m.

Logistics revenue increased 30 per cent to Dhs1.47bn, with EBITDA rising 154 per cent to Dhs94m.

Ports business hit, says AD Ports Group

The Ports business was hit more directly by the regional disruption. UAE container throughput dropped 65 per cent to 573,000 TEUs, while bulk and general cargo volumes declined 67 per cent to 3.1m tonnes.

Ports revenue fell 17 per cent to Dhs609m and EBITDA declined 23 per cent to Dhs234m.

Operating cash flow rose 88 per cent to Dhs2.14bn. Free cash flow to the firm was negative Dhs1.03bn after including the Dhs1.1bn acquisition of an additional 30 per cent stake in Global Feeder Shipping. Excluding that transaction, free cash flow was positive at Dhs73m.

The acquisition, completed on June 23, increased AD Ports’ stake in Global Feeder Shipping to 81 per cent.

Net debt rose by Dhs1.27bn during the quarter to Dhs22.73bn, although the company’s net debt-to-EBITDA ratio improved to 3.7 times from 3.9 times at the end of the first quarter.

AD Ports also announced during the quarter the Dhs3.1bn acquisition of Brazilian agricultural bulk terminal operator Corredor Logística e Infraestrutura and the Dhs300m purchase of Germany-based MBS Logistics. The transactions are expected to close in the third and fourth quarters, respectively.

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Yango Group, a UAE-based technology company, is bringing its AI and autonomous technologies to one of Dubai’s major community initiatives at Dubai Festival City Mall on August 22.

Yango Yasmina will serve as the event’s first AI race commentator, guiding and entertaining runners throughout the course with timely reminders, running and well-being tips, science and local facts, interactive prompts and encouragement. Meanwhile, the company’s autonomous delivery robot will distribute water and present medals to race winners.

Read more-Dubai launches ‘Mallathon’ to turn malls into summer fitness hubs

The activation highlights how AI and robotics are moving beyond smartphones and screens into everyday public experiences, making community events more interactive while supporting Dubai’s vision for a connected smart-city future.

AI takes on the race commentary

Yango Group is a strategic partner of Dubai Mallathon, a citywide community wellness initiative launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai.

The initiative transforms shopping malls into indoor walking and running venues during the summer, encouraging residents to stay active in air-conditioned spaces. Dubai Festival City Mall will host 2.5 km, 5 km and 10 km races beginning at 6:00am on August22.

Before runners set off, Yango Yasmina will join a professional coach in supporting the warm-up session, using voice prompts and encouragement to prepare participants for the races.

During the event, Yasmina will replace a traditional race announcer, accompanying runners throughout the course. The AI assistant will provide encouragement alongside practical running and well-being tips, hydration and pacing reminders, facts about the human body and exercise, and local insights.

Interactive prompts will also be used to keep participants engaged as they make their way towards the finish line. Yasmina will welcome runners as they cross the finish, further demonstrating how conversational AI can move beyond digital assistants and become part of real-world community experiences.

Autonomous robot joins the action

Alongside Yango Yasmina, Yango Group’s autonomous delivery robot will distribute water to participants and present medals to race winners, giving visitors an opportunity to experience autonomous technology in action.

Equipped with cameras and AI-powered perception, the robot is designed to detect obstacles and navigate dynamic environments. Its appearance at the event showcases technologies that could support the future of intelligent delivery and service robotics.

“Instead of demonstrating AI in a conference hall, we’re bringing it into a real community setting where thousands of people can interact with it naturally. Dubai Mallathon gives us the opportunity to demonstrate that AI isn’t confined to screens or workplaces; it can also enrich public events, and become part of everyday life. With Yango Yasmina and our autonomous delivery robot, we’re showcasing practical innovations that support Dubai’s vision for a smarter, more connected future,” said Islam Abdul Karim, regional head at Yango Group Middle East.

AI experiences extend beyond race day

Participants will also be able to interact with AI speakers throughout the event, adding another opportunity for visitors to experience the technology directly.

The first three winners of the races will each receive a Yango Yasmina AI speaker, allowing them to continue exploring the AI assistant beyond race day.

The initiative comes as Dubai continues to position technology, AI and smart-city solutions as part of everyday life. By integrating conversational AI and autonomous robotics into a community sporting event, Yango Group is using Dubai Mallathon as a platform to demonstrate how emerging technologies can combine practical utility with public engagement.

Emirates NBD, a leading banking group in the Middle East, North Africa, Türkiye and South Asia (MENATSA) region, has marked a significant milestone in its sustainable finance journey with the launch of the UAE’s first dedicated Transition Finance Framework.

The framework is designed to support corporate and institutional customers as they transform their businesses towards more sustainable models, particularly in sectors where decarbonisation remains complex, capital-intensive or technologically challenging.

Focus on hard-to-abate sectors

The Transition Finance Framework establishes a clear methodology for identifying, assessing and labelling transition finance activities that contribute to the decarbonisation of high-emitting and hard-to-abate sectors.

These sectors include manufacturing, mining, power and energy, real estate, transportation and storage, agriculture, and information technology.

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The framework is intended to support companies whose activities may not yet qualify as “green”, but which are taking credible steps to reduce emissions and transition towards more sustainable business models.

Developed with reference to leading international guidance, the framework draws on the ICMA Climate Transition Finance Handbook, the ICMA Climate Transition Bond Guidelines 2025 and the Loan Market Association Guide to Transition Loan Finance 2025.

Expanding access to transition finance

Emirates NBD has also commissioned DNV Assurance to provide a Second Party Opinion, supporting the credibility and market alignment of the framework.

Through the new framework, corporate and institutional banking customers are expected to benefit from improved access to transition finance solutions and clearer guidance on activities that may qualify for transition finance.

The framework also supports investments linked to emissions reduction, energy efficiency, cleaner technologies and low-carbon business models, while helping customers align with evolving investor, lender and regulatory expectations.

Vijay Bains, Chief Sustainability Officer and Group Head of ESG at Emirates NBD, said the framework would help the bank provide clients with transition finance solutions designed to support their sustainability efforts.

“At Emirates NBD, our goal is to empower our clients with robust, transparent, and innovative transition finance solutions,” Bains said.

He added that the framework expands the bank’s existing Sustainable Finance and Sustainability-Linked Loan Financing Bond Frameworks, strengthening its ability to support the real economy transition across the UAE and wider region.

“By providing a consistent internal methodology to assess eligible transition activities and engage clients on credible transition opportunities, the Framework reinforces Emirates NBD’s role as a trusted partner in the region’s shift towards lower-carbon operations,” Bains said.

Supporting the UAE’s sustainable finance ambitions

The initiative also reinforces Emirates NBD’s commitment to mobilise USD 30 billion in sustainable and transition finance by 2030.

The bank supports the UAE Banking Federation’s ambition to mobilise AED 1 trillion in sustainable finance by 2030, while setting its own USD 30 billion target for the same period.

By adding a dedicated transition finance approach to its sustainable finance platform, Emirates NBD said it is accelerating efforts towards this target while supporting the UAE’s wider climate and economic ambitions.

The framework is intended to help channel capital towards activities that can contribute to decarbonisation, industrial transformation and long-term resilience, further strengthening the bank’s role in financing the transition towards lower-carbon operations.

Travellers flying between India and the UAE this week are being warned to arrive at airports well ahead of departure, with heightened security measures remaining in place at major Indian aviation hubs until August 20.

Airlines have issued a series of advisories warning passengers that additional screening could mean longer queues at check-in, security and other airport checkpoints.

Cathay Pacific has gone a step further, advising passengers departing from “all airports in India to arrive at least four hours before their scheduled flight” because of enhanced security procedures introduced by government agencies.

The warning is particularly relevant for the large number of UAE residents returning from summer trips to India, with Delhi, Mumbai, Bengaluru, Kochi and Thiruvananthapuram among the major airports where travellers have been told to expect additional checks.

Why are security checks taking longer?

The measures were stepped up around India’s 80th Independence Day celebrations on August 15, with security tightened at airports and major transport hubs across the country.

Air India has advised passengers travelling between August 10 and August 20 to arrive well in advance of departure, allowing additional time for airport formalities and security screening.

IndiGo has similarly warned passengers that enhanced checks could result in longer processing times and advised travellers to factor in extra time for traffic, parking, check-in queues and additional security procedures.

SpiceJet has also issued an advisory covering passengers travelling between August 11 and August 20, warning that enhanced measures could require extra time for security checks and other airport formalities.

Passengers departing from Mumbai have been told that heightened security and mandatory checks will remain in effect until August 20, while enhanced screening has also been reported at airports including Delhi, Bengaluru, Kochi and Thiruvananthapuram.

Flying from the UAE to India? Air Suvidha is also required

Passengers travelling into India from the UAE should also be aware of a separate health requirement.

International arrivals, including Indian and foreign nationals, are currently required to complete the Air Suvidha 2.0 Self-Declaration Form before boarding their flight to India, following a travel advisory issued by India’s Directorate General of Health Services in response to the Ebola outbreak.

The online form asks passengers for details including their 21-day travel history, exposure history and any relevant symptoms. Travellers are advised to keep a copy of the completed declaration available for presentation on arrival if requested.

What UAE-India passengers should do

Travellers should check the latest status of their flight before leaving for the airport, keep passports, boarding passes and other travel documents readily accessible, and allow significantly more time than usual for airport procedures.

For those departing India for the UAE, arriving around four hours before an international flight is the safest approach while the enhanced security measures remain in force.

Passengers travelling from the UAE to India should meanwhile complete the Air Suvidha declaration before departure and check their airline’s latest travel requirements before heading to the airport.