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
Facebook last month agreed to pay $5.7bn for a 10 per cent stake in the digital unit
The PIF is looking into “any opportunity” arising from the economic wreckage of the crisis
The Saudi PIF-backed company is expected to begin deliveries of its Lucid Air model next year to customers in the Middle East
The Public Investment Fund has stepped up deal-making in a bid to become the world’s biggest manager of sovereign capital
The fund last month built an 8.2 per cent stake in cruise operator Carnival Corp. after shares slumped due to the fallout of the coronavirus pandemic