Business & Money | Tuesday 20 May, 2025 8:05 am

PIF opens subsidiary company office in Paris

The Public Investment Fund (PIF) announced today, May 19, the opening of a new subsidiary company office in Paris, expanding its global presence and deepening ties in France, a priority international market. The new office reflects PIF’s approach to engaging closely with local partners,...

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Business & Money | Tuesday 20 May, 2025 8:00 am

Hail Investment Forum unveils SAR 8.5B in agreements, projects

Prince Abdulaziz Al Saud, Governor of Hail Province, oversaw the launch of a package of agreements, initiatives, and projects at the opening of the Hail Investment Forum 2025, with a total value of SAR 8.5 billion. These strategic partnerships between government entities and investment bodies...

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Business & Money | Tuesday 20 May, 2025 7:54 am

Aramco publishes sustainability report for 2024

Saudi Aramco announced, in its Sustainability Report for 2024 that it aims to achieve net-zero greenhouse gas emissions for scopes 1 and 2 across all its wholly-owned and operated assets by 2050.The company said that it has set a new interim target to reduce the carbon intensity of its upstream...

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Business & Money | Monday 19 May, 2025 10:48 am

Al-Rumayyan expects PIF’s investments in Europe to hit $170B from $85B

Saudi Arabia’s Public Investment Fund (PIF) has deployed $85 billion in Europe between investments and procurements from 2017 to 2024, said Governor Yasir Al-Rumayyan at the FII Priority Summit.  The fund anticipates these investments to grow to $170 billion by...

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Business & Money | Monday 19 May, 2025 10:44 am

ADES, Aramco renew Saudi platform contract for 10 years at SAR 1.61B

ADES Holding Co. renewed on May 18 the contract for one of its offshore platforms with Saudi Aramco for a period of 10 years, at an estimated cumulative value of SAR 1.61 billion ($429 million). The contract renewal will significantly enhance revenue visibility and support the...

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Business & Money | Monday 19 May, 2025 10:38 am

solutions signs SAR 651.7M contracts with stc

Arabian Internet and Communications Services Co. (solutions) signed several contracts with stc, a related party, to implement a project for upgrading IT infrastructure and cloud partnerships, in addition to a project for renewing Oracle software licenses. The...

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Business & Money | Monday 19 May, 2025 10:32 am

SGS secures bank facilities with SNB, BSF up to SAR 850M

Saudi Ground Services Co. (SGS) signed two Shariah-compliant bank facilities agreements with Saudi National Bank (SNB) and Banque Saudi Fransi (BSF) up to SAR 550 million and SAR 300 million, respectively. The funds can be drawn when needed, SGS said in a statement to Tadawul. SNB...

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Business & Money | Sunday 18 May, 2025 9:27 am

Bank Albilad completes $650M AT1 sukuk issuance

Bank Albilad completed the issuance of a US dollar-denominated additional Tier 1 sukuk issuance.DetailsOffer TypeUS dollar-denominated additional Tier 1 green sukuk Offer Value$650 mlnTotal No. of Sukuk3,250 (based on minimum denomination and total issue size)Nominal...

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Business & Money | Sunday 18 May, 2025 9:14 am

ACWA Power Signs Agreements Worth USD 500 Million With US Firms, Expanding Collaboration to USD 6 Billion

ACWA Power, the world’s largest private water desalination company, and a leader in energy transition and first mover into green hydrogen, announced the signing of Memorandums of Understanding (MoUs) with US companies, totalling USD 500 million. Signed at the Saudi–US Investment Forum in...

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Business & Money | Saturday 17 May, 2025 4:40 pm

I Squared Capital and PIF Sign Memorandum of Understanding to Launch Dedicated Middle East Infrastructure Fund

RIYADH, Saudi Arabia & MIAMI--(BUSINESS WIRE)-- I Squared Capital, a leading independent global infrastructure investment manager, and PIF have signed a non-binding memorandum of understanding (MoU) to establish a dedicated infrastructure investment strategy focused on the Middle...

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