Economy

Saudi Arabia’s Public Investment Fund has signed MoUs with the Future Investment Initiative and global financial firms State Street, Brookfield, and Mizuho in order to collaborate on elevating the Kingdom's wealth fund asset management portfolio.

Dubai has set a record budget with expenditures of 272 billion dirhams and 302 billion in revenue, marking a first-time surplus of 21%. Nearly half of the budget has been allocated to infrastructure projects in critical development areas.

Saudi Arabia’s PIF partners with Brookfield on a $2 billion fund, sparking fresh investments and innovation across the kingdom, with Brookfield expanding its Riyadh footprint to boost local growth.

Saudi oil giant Aramco has launched its first branded petrol station in Pakistan's Lahore, delivering premium fuel and services to Pakistan, and sparking a fresh chapter in the country’s fuel industry, boosting Saudi investment ties.

The Islamic Development Bank’s €500 million sukuk, priced at mid-swaps +50 bps, finds strong demand and listings on Euronext Dublin and Nasdaq Dubai, advancing its Trust Certificate Issuance Programme.