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1 min read
Saudi Arabia's stake in Lucid dropped in value more than $50 billion as the EV startup struggles, report says
Saudi Arabia's 60% stake in Lucid was worth more than $55B shortly after the EV startup went public…
Lloyd Lee
2 mins read
Saudi Arabia's futuristic megaprojects are so expensive that even its oil riches may not be enough
Saudi Arabia is starting to sell debt again and offload more Aramco shares to help fund projects su…
Tom Porter,Hasan Chowdhury
3 mins read
The wildest demand Saudi Arabia made as part of its potential investment (takeover?) in the PGA Tour: get LIV Golf's Saudi boss a Masters green jacket
Congress grilled the PGA Tour about its bid to join forces with LIV Golf and accept Saudi Arabian i…
Cork Gaines
7 mins read
Saudi Arabia is pouring billions into soccer, golf, and Formula 1. Its crown prince doesn't care if anyone calls it 'sportswashing.'
Saudi Arabia is spending billions on sports, soccer, golf, and Formula 1. Sport is a key part of Mo…
George Glover
2 mins read
US lawmakers question the loyalties of McKinsey and other big American consulting firms over their work in Saudi Arabia
McKinsey and other American consulting firms testified before Congress this week for refusing to sh…
Lakshmi Varanasi
3 mins read
The global golf megamerger looks even more confounding after a 3-hour grilling in front of Congress
Big questions remain, especially as to why the PGA Tour took the Saudi money without looking elsewh…
Cork Gaines
1 min read
Lucid Motors slides after the Tesla rival says it will raise $3 billion, mostly from a Saudi Arabian fund
The EV maker said its biggest shareholder, the Saudi Public Investment Fund, will buy 265 million s…
Zahra Tayeb
1 min read
The PGA Tour is merging with the Saudi-funded LIV Golf in a stunning move
The feud between the PGA Tour and LIV Golf is over as the two tours will merge and form a new combi…
Tony Manfred
2 mins read
PGA Tour once called LIV Golf a vehicle to 'sportswash Saudi atrocities.' It seems not to matter now they're merging.
Saudi Arabia invested in billions in sports including golf, which its critics say is an attempt to …
Tom Porter
1 min read
Lucid spikes 98% on speculation Saudi investment fund may buy out remaining stake in the EV maker
Saudi Arabia's Public Investment Fund currently owns 65% of Lucid, and has not confirmed if it will…
Jennifer Sor
3 mins read
Climate Finance Top of the Agenda at The Second Edition of R.A.C.E. Sustainability Summit Held on the Opening Day of COP28 in the UAE
The second edition of the R.A.C.E (Regulation, Awareness, Collaboration, Ecosystem) Sustainability …
ANI
2 mins read
Elon Musk's lawyers subpoena head of Saudi Arabia's $620 billion wealth fund for Tesla 'funding secured' tweets case
Text messages disclosed in April showed Musk raging at Yasir Al-Rumayyan for not supporting his eff…
George Glover
2 mins read
Elon Musk accuses a major Saudi investor of 'ass-covering' in a trial over his 'funding secured' Tesla tweet
Elon Musk testified for a second day in a shareholder trial, blaming Saudi investor Yasir Al-Rumayy…
Sindhu Sundar,Grace Kay,Saman…
1 min read
Boeing and Airbus facing off to win 80-aircraft order for new Saudi airline, report says
Saudia Arabia is launching a national airline and negotiating with Boeing and Airbus for 80 new pla…
Stephen Jones
1 min read
Saudi Arabia's sovereign wealth fund invested $2 billion in Russia before the Ukraine war, report says
A prospectus for the fund revealed investments in Russia's infrastructure, manufacturing, logistics…
Brian Evans
1 min read
Saudi Arabia funneled oil riches into big-cap US stocks with a $7.5 billion buying spree amid falling valuations
The sovereign-wealth fund bought tech giants like Alphabet, Amazon and Microsoft as well as finance…
Brian Evans
2 mins read
Elon Musk raged at the head of Saudi sovereign wealth fund for failing to support his bid to take Tesla private, texts show
In August 2018, Musk tweeted that he had "funding secured" to delist Tesla and take it private. The…
Bill Bostock
1 min read
Saudi Arabia's sovereign wealth fund adds a $412 million bet on tourism as oil income boosts equity investments
The kingdom's Public Investment Fund agreed to acquire a 30% stake in Almosafer Travel & Tourism.
Brian Evans
2 mins read
A member of the PGA board responsible for approving LIV deal resigns after concerns over Saudi Arabia's role in Jamal Khashoggi's death, report says
Randall Stephenson resigned from PGA Tour's policy board, which consists of 10 people and is respon…
Lloyd Lee
1 min read
Lucid Motors is helping oil-rich Saudi Arabia go electric in its ambitious plan to become a carmaking powerhouse
Saudi Arabia is tapping Tesla rival Lucid to help it become a hub for making electric cars, part of…