Banking & Finance
PIF announced the establishment of a sports investment company to support growth of the sector
Nearly $1 bn in local funding also sought
Bid to increase Credit Suisse stake denied ahead of latter's collapse
Public Investment Fund and state miner Maaden bid $2.5 billion for base metals stake
Spurred by foreign currency issuance, local currency debt market growth
Praise for Kingdom's reform plan and its ability to support banks
Net profit of top 10 banks increased by 2.7% QoQ
Rapid growth driven by mortgages and government deposits
Saudi's membership would provide the bank with additional funding options
Despite second budget surplus projection
Part of the group's continued efforts to reinforce Saudi's digital hub status
Dussur plans to establish specialized factories in Saudi
Citigroup, JPMorgan, and Standard Chartered coordinated issuance
Saudi Bank's net profit increases 12% in the first quarter
Promising new experiences for gamers
PIF still controls over 90% of oil giant
Total assets grew by 11.5% reaching to SAR3,832 bn
Banks likely to remain on a profitable path in 2023
He will be replaced by Saeed Mohammed Al Ghamdi
Plan is to increase local content in the wealth fund's portfolio companies
Fund inked 4 agreements with local entities to develop the private sector
Agreements aim to support small and medium enterprises
