Saudi PIF-led consortium to invest $340.5m in Newcastle united after takeover

The Saudi-led consortium has pledged to inject $340.5 million into British Premier League club Newcastle United to improve the English soccer iconic club after Thursday acquisition. The kingdom’s sovereign wealth fund, Public Investment Fund (PIF) landed the Northeastern English club Read more

Saudi public fund to launch major airline

Saudi Arabia wealth fund Public Investment Fund (PIF) is mulling plans to launch a major airline to rival regional carriers, in collaboration with other investment entities, Bloomberg reports citing local online Maaal newspaper. The news broken by unidentified people reveals Read more

Saudi Fund Injects $3.5 Billion into Uber

Saudi Arabian Public Investment Fund (PIF,) the oil-rich kingdom’s long-term sovereign investment arm, has pumped $3.5 billion into Uber and will henceforth occupy a seat as a member of the Board of Directors. The amount is the highest solitary amount Read more

Saudi Arabia’s Vision 2030, a Broad Reform Plan

Saudi Arabia will embark on a broad reform plan meant to diversify the country’s economy beyond dependence on oil exports, state media reported on Monday. The plan, known as Saudi Arabia’s Vision 2030, was approved Monday by the Saudi cabinet. Read more

KSA Preparing for Post Oil-Era, Deputy Crown Prince

Saudi Arabia is stepping up efforts to shift its economy’s reliance away from oil with investments from the Public Investment Fund (PIF) expected to control more than $2 trillion. The announcement was made by Deputy Crown Prince and Defense Minister, Read more