PUBLIC INVESTMENT FUND

PIF Acquires Stake in Jasara Program Management Co., Agrees to $10b Loan Terms

mohammed-bin-salman-mbs2
Saudi Arabia’s Public Investment Fund (PIF) has acquired a 40% stake in Jasara Program Management Co., a joint venture between Saudi Aramco and Jacobs Engineering Group, three people familiar with the matter told Bloomberg.

Saudi Arabia

News, analysis, and more

Shipping and Logistics

US firm wins contract for giant Saudi shipyard project

US-based Jacobs has been selected to deliver engineering services for packages 4, 5 and 6 of the King Salman International Complex for Maritime Industries and ...

 

Energy

Analysis: Energy security in the Gulf faces plethora of threats

Policymakers in the Gulf face the same energy “trilemma” as elsewhere: Assure access to energy, meet global climate change commitments, and manage costs and prices. ...

 

Public Investment Fund

Saudi Arabia’s PIF agrees to initial terms for $10 billion loan

Saudi Arabia’s sovereign wealth fund (SWF), the Public Investment Fund (PIF), has agreed to the initial terms for a $10 billion loan from a group ...

 

Economy

Saudi economy expands by 1.7 percent in first quarter

Saudi Arabia's economy grew at 1.7 percent in the first quarter of 2019, the Kingdom's media ministry said on Monday. The expansion reflects ongoing economic reforms ...

 

Public Investment Fund

Saudi Wealth Fund Buys Stake in JV From Aramco and Jacobs

Saudi Arabia’s sovereign wealth fund has acquired a 40% stake in a joint venture between state energy producer Aramco and Jacobs Engineering Group Inc., according ...

 

Capital Markets

Gulf markets up as risk sentiment improves, Saudi hits 2-mth high

Most major Gulf stock markets posted broad gains on Tuesday, taking their cue from global markets that have been buoyed by expectations of an interest ...

 

Boxing

Amir Khan claims Manny Pacquiao bout will take place in Saudi Arabia

Amir Khan says he has agreed a deal to fight Manny Pacquiao in Riyadh, Saudi Arabia, on 8 November. Khan, 32, scored a stoppage win over ...

 

SAMI

Saudi SAMI continues partnership talks with S.Africa’s Denel after rebuff

Saudi Arabia’s state defence company is continuing to hold commercial partnership talks with South Africa’s Denel which said this month it would not sell a ...

 

Media

U.K.’s Hammond Presses Saudis to Deal With Sports Rights Theft

U.K. Chancellor of the Exchequer Philip Hammond urged senior Saudi officials to crack down on the theft of valuable sports rights, according to a person ...

 

Lebanon

Saudi Arabia to support indebted Lebanon, say ex-PMs after meeting king

Saudi Arabia is preparing to support Lebanon through its economic challenges, three Lebanese ex-premiers indicated after meeting Saudi King Salman in Jeddah on Monday. ...

 

Taif Airport

Set for opening in 2020, Taif airport still in designing stage

Though the Makkah Governorate had earlier announced that the new airport in Taif would be opened in 2020, the General Authority of Civil Aviation (GACA) ...

 

Renewable Energy

Saudi’s Alfanar said to launch UK office for $1.3bn renewable projects

Saudi Arabia’s Alfanar Group will reportedly set up a London-based renewable energy office to oversee the industrial conglomerate’s activity in the UK that includes a ...

 

Waste Management

Recycling plan aims to solve Riyadh rubble trouble

Riyadh is set to get a citywide recycling plan to tackle more than 20 million tons of building rubble on eyesore vacant plots while turning ...

 

Saudi +

Regional and related topics

UAE

UAE plans oil trade overhaul to boost Middle Eastern clout

The United Arab Emirates’ state-run ADNOC, long seen as one of the most conservative oil firms in the Middle East, plans an overhaul for its ...

 

Egypt

Two Pyramids Opened in Egypt for the First Time in Decades—New Mummies, Masks and Tools Revealed

The minister showed off the new finds after opening two nearby pyramids to the public Saturday, according to his department. Authorities posted images of the ...

 

Syria

Isis flag raised at Syrian camp holding jihadist families

The black flag of Isis has been hoisted in a Syrian camp holding tens of thousands of the terror group’s family members, nearly four months ...

 

Turkey

Opinion: Don’t Let Turkey Defect to Russia

As Europe moved toward war in the summer of 1914, two battleships were being built for the Ottoman Empire in British shipyards. Worried about signs ...

 

Defense

President Trump’s Defense Secretary nominee, Mark Esper, explained

Secretary of the Army Mark Esper is officially going through the confirmation process to become Secretary of Defense this week — finally bringing a Senate-confirmed ...

 

Jordan

Jordan appoints new ambassador to Qatar, two years after downgrading ties

Jordan appointed a new ambassador to Qatar on Tuesday, a step toward restoring normal relations two years after it withdrew its ambassador in solidarity with ...

 

Oil Prices

Oil steadies as U.S. supply concerns ease but Iran tensions loom

Oil prices steadied on Tuesday as a resumption of production in the Gulf of Mexico after Hurricane Barry and a boom in U.S. supply from ...

 

India

Why Is India Trying to Kill Off Hedge Funds?

That industry is domestic hedge funds, which have taken seven years to reach $6 billion in investment commitments from nothing. By contrast, equity investment in India ...

 

Yemen Civil War

Saudi vice minister of defence says met with U.N. envoy to Yemen

Saudi vice minister of defence Khalid bin Salman stressed Saudi support for a political solution in Yemen in a meeting with U.N. special envoy to ...

 

Recent Editions