This move is part of the holding company’s broader strategy to develop cluster ecosystems and foster long-term value creation
The banking and transportation divisions’ respective contributions to the wealth fund’s profit soared by Dhs8.2bn and Dhs7.7bn
The country posted a budget surplus of $545m in the first two months of this year
Saudi Telecom already spun off its internet services unit and listed it on the kingdom’s stock market last year
The project will include four landmarks – an opera House, museum, sports stadium and oceanarium, as well as 17,000 residential units
The Public Investment Fund offered 120 million shares in Saudi Telecom at SAR100 each
The Kuwaiti authority is a founding member of the One Planet Sovereign Wealth Fund Working Group established in Paris in 2017
The fund has vowed to invest more in Asia and the US as it pursues growth and diversification after years of substantial investment in Europe
The company will operate international and domestic flights
The National Security Services Company, also known as SAFE, will focus on providing a range of specialised services
Key leadership positions have been reshuffled
The sovereign fund has spent billions of dollars this year buying equities, including stakes in BP, Boeing, Citigroup and Facebook
The Public Investment Fund has stepped up deal-making in a bid to become the world’s biggest manager of sovereign capital