Sources say the Public Investment Fund, already a shareholder in Lucid, will provide much of the money for the site at the King Abdullah Economic City
Saudi Arabia’s Public Investment Fund
Aramco IPO
Saudi Arabia replaces Aramco chairman with wealth fund chief
Appointment of Yasir Al-Rumayyan comes as part of plans for Saudi Aramco IPO – official
SABIC
Saudi wealth fund said to agree terms on $10bn loan
Sources say the Public Investment Fund has finalised details of loan it is seeking from group of banks
Bank of America Merrill Lynch
Could more mega projects solve Saudi unemployment?
Bank of America Merrill Lynch says Saudi Arabia may need to launch new mega projects to hit Vision 2030 targets on jobs
Elon Musk
Saudi Arabia’s Tesla stake has lost over $1bn in value since the start of 2019
Shares in Elon Musk’s electric car company have fallen 43% since the start of the year
Bank of America Merrill Lynch
Saudi Arabia’s Q1 $7.4bn budget surplus ‘unlikely to last’
Bank of America Merrill Lynch research says budgetary outcomes ‘to deteriorate going forward’
assets under management
Saudi wealth fund looks to China amid global ambitions
Public Investment Fund managing director says keen to accelerate Asia growth, sees ‘a lot of potential’
Public Investment Fund
Saudi wealth fund on track to manage $400bn assets by end-2020
Public Investment Fund currently has assets of $290bn, according to Sovereign Wealth Fund Institute, making it the 11th largest globally
Amaala
Giga projects to fuel Saudi investment growth, says JLL
Real estate consultant sees long-term positive impact of launching projects such as Al Qiddiya and Amaala
E-commerce
E-commerce venture Noon expands operations to Egypt
Digital marketplace founded by entrepreneur Mohamed Alabbar launches services to Egypt after success in the UAE and Saudi Arabia
Saudi Arabia
Saudi Arabia sets up $2.9bn program to increase home ownership
Saudi Real Estate Refinance Co sets up Islamic bond program to increase liquidity in the country’s mortgage market
Alawwal Bank
Saudi Arabia eyes deal to create $182bn mega bank
National Commercial Bank, Saudi Arabia’s biggest lender, says it has started initial talks with Riyad Bank for a merger
eco-tourism
Saudi Arabia reveals plan for new eco-tourism project
Public Investment Fund says it will set up a company to work on the Wadi Al Disah Development Project
Saudi Arabia
Saudi wealth fund said to plan healthcare investments
Sources say the Public Investment Fund may appoint an adviser in the near future to help identify healthcare investment opportunities
E-commerce
E-commerce platform noon launches Yellow Friday deals
The month of November is being dedicated to a raft of deals, offers and fun in Saudi Arabia and the UAE, says noon
Goldman Sachs
Saudi wealth fund said to prepare to sign $11bn loan
Sources say Public Investment Fund will sign its first-ever loan deal later this week
Aramco IPO
Saudi fund said planning to borrow up to $12bn from banks
Financial Times reports that Saudi Arabia’s sovereign fund is set to approach international banks to borrow up to $12bn