Saudi Arabia


Nintendo is the latest target of Saudi Arabia’s gaming investment

Saudi Arabia now owns 5.01% of Nintendo, making it the Kyoto company’s fifth-largest shareholder, according to a Bloomberg report. The Financial Times calculates the Saudi investment to be worth $2.98 billion. The purchase was made by the Public Investment Fund, a sovereign wealth fund that makes investments on behalf...
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Saudi Arabia purchases a five per cent stake in Nintendo

A five per cent stake of Nintendo has been purchased by Saudi Arabia’s Public Investment Fund (PIF). That’s according to a Bloomberg report from earlier today (May 18), with a spokesperson telling the publication that Nintendo learned about the investment from news reports, whilst declining further comments on its shareholders.
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Saudi envoy to Lebanon takes apparent swipe at Hezbollah after vote

BEIRUT, May 17 (Reuters) - The Saudi ambassador to Lebanon took an apparent swipe at Hezbollah on Twitter on Tuesday after official results of an election showed the Shi'ite Muslim group and its allies had lost a parliamentary majority. Without mentioning Iran-backed Hezbollah by name, Waleed al Bukhari tweeted that...
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US News and World Report

Saudi Arabia's Wealth Fund Takes 5% Nintendo Stake

TOKYO/DUBAI (Reuters) - Saudi Arabia's Public Investment Fund (PIF) has taken a 5.01% stake in Nintendo Co Ltd as the sovereign wealth fund increases its exposure to the Japanese video gaming industry. The investment in the Kyoto-based group company was made for investment purposes, a filing said, and comes as...

Saudi Arabia Now Has a 5% Stake in Nintendo

According to the news story of Kotaku, the Public Investment Fund (PIF) of Saudi Arabia, a near-endless pool of cash entrusted with diversifying the country's economy, has purchased a 5.01% share in Nintendo. The information was revealed in a filing with Japan's Finance Ministry. It follows similar acquisitions in Capcom,...

Dubai-Based FinTech Pemo Snags $12M in Seed Funding

Dubai-based FinTech Pemo has raised $12 million in a seed funding round that it will use for continued product development and expansion across the Middle East and North Africa, according to a Magnitt report Wednesday (May 18). Cherry Ventures and Shorooq Partners co-led Pemo’s seed round, with participation from FinTech...

Saudi vice defense minister to discuss Yemen truce on Washington visit

May 17 (Reuters) - Saudi Arabia's Vice Minister of Defense Khalid bin Salman will discuss a truce in Yemen and the Ukraine crisis with White House National Security Advisor Jake Sullivan during a visit to Washington on Tuesday, the National Security Council said. He will also meet with senior defense...
US News and World Report

Saudi King Chairs Cabinet as Ministers Call for Balanced Energy Shift

(Reuters) - Saudi Arabia's king chaired a virtual cabinet meeting on Tuesday for the first time since being discharged from hospital this week, during which the government of one of the world's biggest oil producers called for a balanced global energy transition. King Salman bin Abdulaziz, 86, was briefly shown...

Pyledriver pleasing Muir ahead of Coronation Cup defence

William Muir reports Pyledriver to be in good order as his globetrotting stable star prepares for his Coronation Cup defence at Epsom on June 3. The son of Harbour Watch gave the training duo of Muir and Chris Grassick a first Group One victory when he gamely held off Al Aasy in the 12-furlong contest in 2021, but a mid-season injury saw him sidelined until winning the Churchill Stakes at Lingfield in November before embarking on a world tour during the winter.