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☆ Saudi Arabia's PIF says U.S. stocks value falls nearly $6 billion in fourth quarter
▼ + stars: | 2023-02-14 | by ( Yousef Saba | ) www.reuters.com time to read: +1 min

That was equivalent to roughly 5.6% of Lucid shares, according to calculations based on Refinitiv data. PIF's stake in Lucid, despite increasing, nearly halved in value to $7.57 billion at the end of December from $14.18 billion three months earlier, the filing showed. Shares of Lucid, which plans to build its first overseas factory in Saudi Arabia, were down 51% in the fourth quarter. PIF, at the centre of Saudi Arabia's ambitious plans to diversify the economy away from oil, invested over $1 billion in Lucid in 2018. The value of PIF's stake in Uber fell by nearly $129 million, the filing showed.

☆ World's biggest pension fund posts loss in longest losing streak in two decades
▼ + stars: | 2023-02-03 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Masataka Miyazono, president of the Government Pension Investment Fund (GPIF), speaks during a news conference in Tokyo, Japan, on Friday, July 1, 2022. Japan's Government Pension Investment Fund — the world's largest — reported a fourth consecutive quarterly loss on Friday, taking it to its longest losing streak in 20 years. The world's largest pension fund saw a 0.97% loss on its investments in the last three months of 2022, equating to 1.85 trillion yen ($14.3 billion). It takes GPIF's losses for the first three quarters of the fiscal year to 3.71%, or 7.32 trillion yen. Its total assets now total 189.9 trillion yen.

☆ Saudi Arabia's wealth fund raises Nintendo stake to 6%
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Jan 12 (Reuters) - Saudi Arabia's Public Investment Fund (PIF) has increased its stake in Japan's Nintendo Co Ltd (7974.T) to 6%, a filing showed on Thursday, reflecting the sovereign wealth fund's growing exposure to the Japanese video gaming industry. PIF's stake in the Kyoto-based company has risen from 5.01% to 6.07%, according to the ownership report filed with Japanese regulators. PIF revealed its 5% stake in Nintendo in a regulatory filing in May last year, stating that it was made for investment purposes. It has also taken stakes in video game companies Nexon (3659.T), Capcom (9697.T), and Koei Tecmo (3635.T). Reporting by Makiko Yamazaki; editing by Uttaresh.VOur Standards: The Thomson Reuters Trust Principles.

☆ Saudi Arabia's new love for soccer could cause ripple effects across the sports world
▼ + stars: | 2023-01-06 | by ( Elliot Smith | ) www.cnbc.com time to read: +8 min

Portuguese football star Cristiano Ronaldo poses for a photo with the jersey after signing with Saudi Arabia's Al-Nassr Football Club in Riyadh, Saudi Arabia on December 30, 2022. Al Nassr Football Club / Handout/Anadolu Agency via Getty ImagesSoccer superstar Cristiano Ronaldo's move to Saudi club Al-Nassr, and the kingdom's growing investments in the sport, could have ripple effects across Europe and the U.S., experts have told CNBC. The former Real Madrid, Manchester United and Juventus star earlier this week contended that the "unique contract" was befitting of his status as a "unique player." The Financial Times reported in October that the Saudi PIF had committed more than $2 billion to sponsorship deals over the first eight months of 2022, most of which was directed toward domestic soccer competitions. The Saudi PIF's takeover of Newcastle United was met with criticism across the soccer world — deemed an effort to launder the country's reputation against the backdrop of a poor human rights record.

RIYADH, Dec 7 (Reuters) - Saudi Arabia expects to post a second consecutive budget surplus in 2023, though down 84% from this year as an uncertain global economic outlook and lower crude prices look set to weigh on the top oil exporter's revenues. Spending is slightly lower than 1.132 trillion riyals this year. Revenues are expected at 1.13 trillion riyals, down from 1.234 trillion riyals in 2022 as oil prices are seen falling from this year's high levels. Public debt is seen falling 3.5% to 951 billion riyals next year, or 24.6% of GDP. Government reserves at the Saudi Central Bank are estimated to reach 399 billion riyals at the end of next year, the finance ministry said.

☆ Saudi Arabia announces plans for six-runway hub airport in Riyadh
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +2 min

RIYADH, Nov 28 (Reuters) - Saudi Crown Prince Mohammed bin Salman announced on Monday plans to transform Riyadh airport into a massive aviation hub with six parallel runways and designed to accommodate up to 120 million travellers by 2030, state news agency SPA reported. Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), will build King Salman International Airport, which should stretch over 57 square kilometres (22.01 square miles) and include current King Khaled airport, SPA said. Aviation is part of a government strategy to become a global transportation and logistics hub by 2030, with Riyadh airport as the operation base of a brand new airline, RIA, that would compete with regional heavyweights Emirates and Qatar Airways. The kingdom has set itself high targets for diversifying its economy and reducing its dependence on oil, pouring hundreds of billions of dollars into a plan called Vision 2030 initiated by the kingdom's de facto ruler Prince Mohammed. It added King Salman airport would create 103,000 direct and indirect jobs, handle 185 million travellers and process 3.5 million tons of cargo by 2050.

☆ Saudi Arabia's PIF reduces majority stake in Saudi Tadawul Group
▼ + stars: | 2022-11-13 | by ( ) www.reuters.com time to read: +1 min

DUBAI, Nov 13 (Reuters) - Saudi Arabia's Public Investment Fund has sold a 10% stake in stock exchange operator and owner Saudi Tadawul Group through a secondary share offering, raising 2.3 billion riyals ($612 million), it said in a statement on Sunday. The sovereign wealth fund with over $600 billion in assets said it sold 12 million shares through an accelerated bookbuild offering. The fund's remaining stake amounts to 72 million shares or 60% of the company, it said. PIF is the main engine of Crown Prince Mohammed bin Salman's Vision 2030 plan to wean the economy off its dependence on oil. It sold a 6% stake in Saudi Telecom (STC) for 12 billion riyals ($3.2 billion) in December last year.

☆ Edtech firm Classera raises $40 mln in round led by PIF's Sanabil
▼ + stars: | 2022-10-27 | by ( Yousef Saba | ) www.reuters.com time to read: +2 min

The Series A round was led by Sanabil Investments, fully owned by Saudi Arabia's sovereign Public Investment Fund (PIF). Other investors were Global Ventures, Endeavor Catalyst, 500 Global, Sukna Venture and Seedra Ventures. "The round additionally included a diverse set of investors from Silicon Valley, emerging markets, and global family offices," the company said in a statement, without naming them. "Many learning institutions, especially after the pandemic, are convinced they need the next generation of e-learning solutions," Classera co-founder and CEO Mohammad Almadani said in the statement. Sanabil said in the same statement it was "fully committed to enable Classera to further expand its reach to learners across all socio-economic backgrounds."

☆ Saudi wealth fund braves market tumult in green bonds debut, others unlikely to rush
▼ + stars: | 2022-10-12 | by ( Yousef Saba | ) www.reuters.com time to read: +4 min

Register now for FREE unlimited access to Reuters.com RegisterHe said that PIF's issuance of the first-ever 100-year green bonds showed investor confidence in its credit strength and Saudi Arabia's long-term commitment to energy transition. PIF sold $500 million of the 100-year bonds - the first bonds of that tenor from a debut issuer or a sovereign wealth fund, and the first 100-year issue in the region. Alaoui said the fund was expected to continue issuing green bonds, including green sukuk, or Islamic bonds, and to tap the onshore U.S. market in the coming years. Egypt, due to host the COP27 climate conference next month, became the region's first issuer of sovereign green bonds in 2020. First Abu Dhabi Bank (FAB.AD), which taps the market regularly and is one of the region's most active green issuer, followed up PIF's transaction a day later with a sale of $700 million worth of green bonds.

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