INVESTMENT WATCH-

PIF to anchor Goldman Sachs’ private credit and equity funds in Saudi Arabia and GCC: The Public Investment Fund (PIF) and Goldman Sachs Asset Management signed a non-binding MoU for PIF to anchor new private credit and public equity strategies in Saudi Arabia and the GCC, according to a press release. The funds aim to attract international capital, strengthen the local asset management sector, and support knowledge transfer. The private credit strategy targets GCC-based companies, while the public equity strategy focuses on firms listed on the Saudi exchange or linked to Saudi Arabia. The MoU is subject to regulatory and internal approvals.

PIF-owned firm to invest in Alyoum Bakery: Alyoum Bakery agreed to a new shares issuance as part of an indirect investment by the PIF-owned Saudi Jordanian Investment Company, according to a statement. The investment ticket and size of the stake involved were not disclosed. The transaction is pending regulatory approvals and fulfillment of contract obligations.

About Alyoum Bakery: Established in 2015 as the bakery arm of Sama Jordan Food andIndustrial Investments Group, Alyoum Bakery operates in a 30k sqm modern purpose-built facility, processing up to 300 tons of flour per day through seven production lines.

AVIATION-

Saudi Ground Services (SGS) will provide ground handling services for Riyadh Air under a SAR 500 mn contract it was awarded, according to a disclosure to Tadawul. The three-year contract, effective 1 March, includes ramp and passenger terminal services for both domestic and international flights across Saudi Arabia.

FINANCIAL SERVICES-

Tamara receives financial license: Riyadh-based fintech Tamara Finance obtained a full-fledged consumer finance license from the Saudi Central Bank, including buy-now-pay-later services, it said in a press release. This brings the total number of licensed finance companies in the Kingdom to 65, state news agency SPA reports.

HAJJ AND UMRAH-

Pilgrims may exit ihram at Grand Mosque for the first time: The General Authority for the Affairs of the Two Holy Mosques installed five mobile stations in the Grand Mosque courtyard, allowing male pilgrims to complete Umrah rituals and exit the state of ihram, Gulf News reports. The mobile stations are located opposite the Marwa area and equipped with sterilized equipment to offer haircuts as part of an initial trial phase.

Tags: