Saudi wealth fund PIF boosts US holdings with stakes in Alphabet, JPMorgan Chase, Amazon
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has bought minority stakes in a string of top American companies including Alphabet Inc., JPMorgan Chase & Co., American Tower Corporation, Amazon.com, Inc. and Zoom Video Communications, according to a regulatory filing. The PIF disclosed stakes worth $464 million in Alphabet, the parent company of […]
Misr Clearing signs agreement with Saudi Clearing
Misr Central Clearing, Depository, and Registry signed a memorandum of understanding (MoU) with the Saudi Securities Clearing Centre (Muqassa) to bolster relations and enhance economic cooperation between the two countries. The agreement aims to foster the exchange of experiences and information in the field of securities clearing to come up with a more reliable […]
Tawuniya’s profits exceed $67.2mln H1-22 interim results
The Company for Cooperative Insurance (Tawuniya) registered net profits before Zakat of SAR 252.19 million during the first half (H1) of 2022, higher by 2.21% year-on-year (YoY) than SAR 246.74 million. The earnings per share (EPS) edged up to SAR 1.65 in the first six months (6M) of 2022, versus SAR 1.62 in the […]
King Abdulaziz Port in Saudi posts record container throughput in June
The King Abdulaziz Port in Dammam, managed by Saudi Global Ports (SGP), has set a new container throughput record by handling 188,578 TEUs during June 2022, surpassing the previous record set in 2015 by 867 TEUs. The record-breaking performance comes on the back of soaring import and export volumes, which boosted the port’s productivity while […]