Public Investment Fund – Page 2 – Middle East Confidential

Aramco takes control of SABIC after injection of $69.1 billion

June 15, 2020 Peter Mulvany

Saudi Arabia’s oil giant Aramco has acquired 70 per cent of Saudi Basic Industries Corporation (SABIC) in four transactions for a combined investment of $69.1 billion, Zawya reports. The deals posted on the Saudi Stock Exchange Tadawul, stressed that one Read more

Saudi Fund Injects $3.5 Billion into Uber

June 2, 2016June 2, 2016 Jaber Ali

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

April 25, 2016 Peter Mulvany

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

April 2, 2016April 3, 2016 Jaber Ali

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