Global energy body to release 400m oil barrels in emergency boost Energy The global energy body has announced it will release a record 400 million barrels from emergency oil reserves in a bid to contain spiking prices. The International Energy Agency’s (IEA) executive director Faith Birol said on Wednesday the market “challenges we are facing are unprecedented in scale”. “IEA member countries have responded with an emergency [...]
Sir Rocco Forte enjoys record pay day after hotels empire deal hospitality The hotels group founded by Sir Rocco Forte has issued a record dividend for the first full year after Saudi Arabia’s Public Investment Fund (PIF) became a major shareholder. Rocco Forte Hotels has paid out dividends totalling £8.9m for the year to 30 April, 2025, to its shareholders. The international hotels group, which is headquartered in [...]
Aston Martin: PIF and Geely billionaire’s shares shift after investment Investing The proportion of shares Saudi Arabia’s Public Investment Fund (PIF) and Chinese billionaire Shufu Li’s hold in luxury car brand Aston Martin has changed following a major shares issue. In March Yew Tree Consortium, which is led by chairman Lawrence Stroll, placed 75 million additional shares in the London-listed business. As a result, both the value of the [...]
Building bridges: the UK’s global tech opportunity April 25, 2025 Britain has the chance to become the world’s most globally connected tech ecosystem, says Russ Shaw As global economic turbulence intensifies – marked by escalating tariff wars, supply chain disruptions, and uncertain investment climates – the UK stands at a pivotal moment. The US – long the dominant force in international innovation – is becoming [...]
Chauffeur firm Blacklane looks to ‘double down’ on London after Saudi cash injection January 13, 2025 Luxury chauffeur service Blacklane is looking to “double down” on London after announcing its largest-ever funding round late last year. The Berlin-based firm, which counts Mercedes-Benz and the Saudi Public Investment Fund (PIF)’s Tasaru Mobility among its investors, raised £53.5m in October amid long-running reports of a possible Initial Public Offering (IPO). Blacklane’s airport transfer [...]
Breakaway rugby talks not a ‘distraction’ to Rugby World Cup, says chief January 1, 2025 World Rugby chief executive Alan Gilpin has insisted that talk of a breakaway franchise competition is not a distraction, stating that any investment talk is “fantastic”. Reports have circled of a LIV Golf-style breakaway in rugby union with both private equity and sovereign wealth backers, to various degrees. Details of the supposed competition, which some [...]
Why doesn’t Saudi Arabia sponsor rugby when it invests everywhere else? December 7, 2024 If you were going to have a gander through the list of sports sponsorship deals related – directly or indirectly – to the Kingdom of Saudi Arabia, you’d be scrolling for a good while. Because research by Play the Game reports that there’s a total of 910 deals between Saudi Arabia or Saudi companies/individuals and [...]