The steel manufacturing facility has an annual production capacity of 2.5 million tonnes of direct reduced iron and nearly 1.7 million tonnes of steel
The PIF has a sprawling portfolio of investments ranging from date farms to multinational conglomerates
Yasir Al Rumayyan met with high-level officials in China including the minister of commerce and Beijing’s mayor
Lucid delivered 2,394 vehicles in the quarter ended June 30, above estimates of 1,940 units.
Saudi Re plans to raise its capital by SAR267.3m ($71m) through this strategic subscription agreement with the kingdom’s sovereign fund
Under Vision 2030, Saudi Arabia has poured hundreds of billions of dollars through the fund into projects, including NEOM
State investors accounted for 54 per cent of the $96bn deployed by sovereign funds – the highest rate since 2009
Valiant joins the ranks of Valkyrie, Vantage and upcoming mid-engine supercar Valhalla as collectible specials
EV startups are lowering manufacturing costs, laying off workforce, and racing to develop cheaper models to navigate a slump in demand
Under the new agreement that also involves other sellers, Ardian and PIF will acquire 22.6 per cent and 15 per cent respectively of FGP Topco, which is the parent company of Heathrow Airport Holdings
PIF wants to create a venture that would bring the main sport’s organisers together, in which it would take a minority stake, say reports
Saudi Arabia is offering investors about 1.545 billion Aramco shares, or 0.64 per cent
The layoffs at Lucid will impact employees at all levels, including leadership and mid-level management,
The company’s growth is part of PIF’s broader portfolio strategy in aviation
The flagship vessel of Aroya Cruises is an impressive 335-metre floating resort
PIF saw its US-traded stock holdings plummet from $35bn at the end of 2023 to $18bn by March 31
The company said it expects capital expenditure of $1.5bn this year, compared with $910.6m in 2023
Lucid said last month it was raising $1bn in capital from Ayar Third Investment Co, an affiliate of Saudi Arabia’s Public Investment Fund
Alat aims to create 39,000 direct jobs in Saudi Arabia by 2030, and achieve a direct non-oil GDP contribution of $9.3bn by the same year
The venture, which may amalgamate new and existing races, is being led by a handful of teams including Visma-Lease a Bike and billionaire businessman Jim Ratcliffe’s Ineos Grenadiers
The partnership with Formula E, Extreme E and E1 will promote educational opportunities tied to electric motorsports, as well as community, social programmes and environmental stewardship
The extension of this agreement is aimed at advancing the goals of the Vision 2030 Housing Program
Big-ticket purchases included $4.9bn for US gaming company Scopely, $3.6bn to buy Standard Chartered’s aircraft leasing division and $3.3bn for steelmaker Hadeed
Heathrow’s sale valued the airport at 14.3 times EBITDA, according to JP Morgan analysis
The wealth fund’s investment will include an element of primary equity, and the completion of the deal is subject to regulatory approval
The transaction is subject to regulatory conditions and must comply with the right of first offer
The issuance was offered in five and seven-year dual tenors, marking the final two tranches under its SAR20bn government-guaranteed sukuk programme
The funds from this loan facility will support The Helicopter Company’s ongoing investments in cutting-edge aircraft and infrastructure
Some companies have raised concerns over the regulatory framework, including taxation
Hyundai will act as a strategic technology partner, offering technical and commercial expertise to support the plant’s development