黑料社区

PIF establishes its first commercial paper program

PIF establishes its first commercial paper program
PIF is one of the world鈥檚 most impactful investors, enabling the creation of key sectors and opportunities that help shape the global economy.
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Updated 28 June 2025

PIF establishes its first commercial paper program

PIF establishes its first commercial paper program

黑料社区鈥檚 Public Investment Fund has announced the establishment of its commercial paper program, adding a new source of funding to its existing instruments.

The program, which allows CP issuance through offshore special purpose vehicles, comprises two sub-programs, a US CP program and a Euro CP program. The program is rated P-1 by Moody鈥檚 and F1+ by Fitch, the highest possible ratings for such an initiative.

CP issuances enhance PIF鈥檚 short-term financing flexibility and complement its long-term capital raising efforts. CP is a common cash management tool in global financial markets, and the establishment of this program by PIF reflects its agile capital raising strategy.

Fahad AlSaif, PIF鈥檚 head of global capital finance and investment strategy and economic insights, said: 鈥淭he establishment of our CP program reflects the continued strength and depth of PIF鈥檚 capital raising strategy, one that is dynamic, resilient, and fit for purpose, aligning funding solutions with our long-term investment priorities.鈥

PIF鈥檚 medium-term capital-raising strategy is built on diversified funding solutions that include a range of instruments, such as bonds, sukuk and loans. In October 2022, PIF became the first sovereign wealth fund globally to issue a green bond including the world鈥檚 first century green bond. This was later followed by PIF鈥檚 inaugural sukuk issuance priced at $3.5 billion. PIF is rated Aa3 by Moody鈥檚 with a stable outlook, and A+ by Fitch, also with a stable outlook.

PIF is one of the world鈥檚 most impactful investors, enabling the creation of key sectors and opportunities that help shape the global economy, while driving the economic transformation of 黑料社区.


Money 20/20: barq leads digital payments landscape with three Visa awards

Money 20/20: barq leads digital payments landscape with three Visa awards
Updated 17 September 2025

Money 20/20: barq leads digital payments landscape with three Visa awards

Money 20/20: barq leads digital payments landscape with three Visa awards

In an unprecedented achievement that reflects the Kingdom鈥檚 leadership in the fintech sector, Saudi fintech barq won three awards from Visa during the Money 20/20 Middle East conference, hosted in Riyadh. The event includes the participation of pioneers in digital payments, banking, and technology from around the world.

barq was recognized by Visa as the fastest growing fintech company in Central and Eastern Europe, the Middle East, and Africa, in view of the company鈥檚 journey that saw it issue more than 6.5 million cards, enable over 500 million payment transactions, and serve users from more than 150 nationalities in a short period of time.

Another award recognized barq鈥檚 rapid expansion in building a wide user base and its strong presence in local and international markets.

barq also won the Highest International Transaction Volumes award among fintech companies in Central and Eastern Europe, the Middle East, and Africa, in recognition of its success in leading the region in international transaction volumes, reflecting the trust of millions of customers in its solutions and its ability to build an efficient and secure cross-market payments ecosystem.

In a statement, Visa said that barq represents a leading model of innovation in the fintech sector, as it was able in a short time to build a solid user base and achieve exceptional performance in transaction volumes, thereby enhancing the Kingdom鈥檚 position as one of the most prominent emerging fintech markets globally.

The awards represent an important milestone in barq鈥檚 journey toward regional and global expansion. They reflect its commitment to continuing innovation and providing advanced payment services that keep pace with market requirements, contribute to supporting financial inclusion, and enhance the digital economy in the Kingdom and the region, in line with the objectives of Saudi Vision 2030.


barq signs three strategic agreements on Day 1 of Money 20/20 Middle East

barq signs three strategic agreements on Day 1 of Money 20/20 Middle East
Updated 17 September 2025

barq signs three strategic agreements on Day 1 of Money 20/20 Middle East

barq signs three strategic agreements on Day 1 of Money 20/20 Middle East

On the first day of Money 20/20 Middle East, hosted in Riyadh, barq, a digital payments application, signed three strategic agreements aimed at developing digital payments in the Kingdom and the region.

barq signed a strategic partnership with Thunes, where it was represented by Thamer Alharbi, director of international partnerships, while Thunes was represented by Ahmed Yaqoub, vice president of business development.

barq also signed an MoU with Moysar, with Muath Alsadhan, general manager of partnerships, representing barq, and Mishari Al-Faryan, chief operating officer, representing Moysar.

On the sidelines of the conference, barq signed a strategic partnership with OneCard, represented by Basel Alhussan, director of product factory, while OneCard was represented by Omar Al-Refaie, senior sales director.

These agreements reflect barq鈥檚 commitment to expanding its strategic partnerships and enhancing its position as a leading digital wallet, in line with supporting the digital transformation in the financial sector in harmony with the objectives of Saudi Vision 2030.

Abdulaziz Al-Rudaini, general manager of marketing, communications and engagement at barq, said: 鈥淭he Money 20/20 Middle East conference proves that 黑料社区 is the leader in the fintech sector in the region.鈥 He added: 鈥渂arq鈥檚 participation aims to showcase the development and support received by the fintech sector from the leadership and the Saudi Central Bank. barq seeks to provide exceptional products and innovative solutions, enabling it to reach a strong position in the Saudi market, while continuing to empower individuals and offer services that meet their aspirations, always staying a step ahead.鈥 

This success comes at a time when barq is celebrating its milestone first year, where it reached more than 8 million users, processed over 150 million transactions, issued more than 6.5 million digital cards, and recorded over 500 million payment transactions. These achievements confirm the rapid transformation of the Saudi financial sector toward a cashless digital economy and reinforce barq鈥檚 position as a leading provider of innovative digital payment solutions.


Lulu festival celebrates South African flavors and culture

Lulu festival celebrates South African flavors and culture
Updated 15 September 2025

Lulu festival celebrates South African flavors and culture

Lulu festival celebrates South African flavors and culture

LuLu Hypermarkets鈥 鈥淧roudly South African鈥 festival was officially inaugurated on Sept. 10 at its Atyaf Mall branch in Riyadh, showcasing a vibrant blend of flavors, culture, and commerce. The event was attended by South African Minister of Trade, Industry and Competition Mpho Parks Tau, along with government officials and LuLu management.

The festival highlights the strong bonds of friendship and trade between 黑料社区 and South Africa. This year鈥檚 celebration presents an impressive lineup of 328 varieties of products from 40 renowned South African brands, offering Saudi shoppers access to premium items ranging from fresh fruits and vegetables to essential groceries and specialty products. Customers will also discover popular South African brands such as Lancewood, Willow Creek, Westfalia, Robertsons, Nando鈥檚, Cape Herb and Spice, and many more.

Speaking at the ceremony, Mohamed Haris Puthiyaveettil, director of LuLu Hypermarkets 黑料社区, expressed his delight at hosting the festival: 鈥淭his event is not just a celebration of flavors and products; it is a celebration of friendship, trade, and cultural connection between two strong nations 鈥 the Kingdom of 黑料社区 and the Republic of South Africa.鈥

Reflecting on LuLu鈥檚 history of hosting South African events, Haris recalled the 鈥淧roudly South African鈥 food festival held in Jeddah in 2022, which was inaugurated by President of South Africa Cyril Ramaphosa and attended by 黑料社区鈥檚 Minister of Tourism Ahmed bin Aqeel Al-Khateeb, among other dignitaries. 鈥淭hat remarkable day was a recognition of LuLu鈥檚 role in promoting South African goods globally and strengthening commercial ties between our nations,鈥 he said.

Since then, LuLu has worked consistently to expand the presence of South African products across its stores. Notably, South African meat, which was introduced after the president鈥檚 visit, has now become one of the most trusted and sought-after items among LuLu shoppers.

The South African festival is a continuation of this commitment, showcasing not only a greater variety of products but also the quality, authenticity, and excellence that South African brands represent.

The festival offers shoppers a unique opportunity to explore and enjoy the richness of South African offerings, showcasing authentic products and cultural experiences in a vibrant setting.


Tasama to empower Badael achieve its public health goals

Tasama to empower Badael achieve its public health goals
Updated 15 September 2025

Tasama to empower Badael achieve its public health goals

Tasama to empower Badael achieve its public health goals

Tasama, a Public Investment Fund company specializing in integrated business services, and Badael, a PIF company dedicated to reducing smoking rates in the Kingdom, have signed an MoU to foster a robust strategic partnership. The signing ceremony at Badael鈥檚 headquarters marks a significant milestone in leveraging the PIF ecosystem to drive innovation and operational excellence in line with Vision 2030.

The MoU establishes a framework for Tasama to provide Badael with its end-to-end integrated services, designed to elevate Badael鈥檚 growth through innovation, operational efficiency, and local market expertise.

This collaboration exemplifies PIF鈥檚 integrated strategy to empower its portfolio companies by fostering partnerships that enhance capabilities and contribute to the objectives of Saudi Vision 2030.

Mohammed Aljasser, CEO of Tasama, said: 鈥淥ur mission at Tasama is to empower businesses and government institutions by delivering reliable, agile, and digitally native business services, enabling them to focus on their core and remain future-ready. We are proud to partner with Badael, a company whose purpose is deeply aligned with the Kingdom鈥檚 vision for a healthier society. By providing Badael with our operational expertise, we are not just improving efficiency, we are helping to build a national champion that can achieve a vital mission for the country. This is the PIF ecosystem in action, creating integrated value and contributing to a thriving economy.鈥

Tolga Sezer, CEO of Badael, added: 鈥淎t Badael, our mission to help 1 million people switch from smoking requires rapid growth and flawless execution. This partnership with Tasama is a strategic accelerator for us. By integrating their best-in-class business services, we can focus our resources on our core competencies 鈥 innovation, research, and connecting with our consumers 鈥 confident that our operational foundation is not only stable but also a competitive advantage. This will be critical in achieving our public health goals.鈥

The collaboration between Tasama and Badael is a powerful example of two PIF companies working in concert to achieve distinct yet complementary national objectives. Tasama aims to redefine industry standards as the national champion in business services and the preferred partner for organizations contributing to the Kingdom鈥檚 growth. Badael is a national leader in health and well-being, enhancing lives by providing innovative solutions that help smokers switch to a better, smoke-free life.


Saudi runner reports over 3% efficiency gain with Puma Fast-R Nitro Elite 3

Saudi runner reports over 3% efficiency gain with Puma Fast-R Nitro Elite 3
Updated 15 September 2025

Saudi runner reports over 3% efficiency gain with Puma Fast-R Nitro Elite 3

Saudi runner reports over 3% efficiency gain with Puma Fast-R Nitro Elite 3

Puma brought its world-leading running innovation to the Middle East for the first time with the Nitro Lab Testing experience in Dubai, hosted at the SIRO One Za鈥檃beel hotel. The exclusive activation allowed select athletes, both global and regional, to put the Fast-R Nitro Elite 3, Puma鈥檚 fastest race-day shoe yet, through a live, data-driven trial. 

The three-day experience transformed the venue into a state-of-the-art biomechanics lab, complete with 3D motion capture, force-instrumented treadmills, metabolic testing, and pressure-sensing insoles. Each athlete arrived fasted, warmed up, and then completed repeated five-minute running intervals in the Fast-R Nitro Elite 3 and a competitor race shoe of their choice, with equal rest periods in between. Oxygen consumption and carbon dioxide output were tracked to calculate running economy 鈥 essentially how efficiently the body used energy at a fixed pace. Within 15 minutes of finishing, participants were shown real-time data comparing both shoes, offering measurable proof of efficiency gains.

led by biomechanics expert Wouter Hoogkamer at the University of Massachusetts Amherst has demonstrated that the Fast-R Nitro Elite 3 improves running economy by 3.15 percent. For a three-hour marathon runner, this translates to a time saving of more than four and a half minutes 鈥 a game-changing edge on race day. 

The shoe achieves these results through deliberate engineering: it is 95 grams lighter than its predecessor, built with Puma鈥檚 NitroFoam Elite midsole for enhanced cushioning and responsiveness, a PWRPlate carbon plate for propulsion, and an Ultraweave upper with Pumagrip outsole for lightweight comfort and multi-surface traction. 

Maximilian Gr眉ttner, team head of performance concepts 鈥 innovation for footwear and apparel at Puma headquarters in Herzo, described running economy as the foundation of performance testing. He said: 鈥淛ust as a car becomes more efficient when it consumes less fuel, runners benefit when they require less oxygen to maintain speed.鈥 That, he said, is what makes the Fast-R Nitro Elite 3 stand out 鈥 鈥渋ts ability to help athletes run the same pace with less effort, ultimately translating into faster times.鈥 

Laura Healey, senior manager of research and insights at Puma Running in Boston, said the development process was guided by both science and athlete data. 鈥淲e combined computer simulations with feedback from over 75 runners to refine every detail of the shoe.鈥 The result, she added, is a foam midsole that 鈥渟tays responsive from the first stride to the last, maintaining energy return across the full marathon distance.鈥 

鈥淐reating a good shoe is straightforward, but crafting a truly great one meant balancing weight, propulsion, and durability 鈥 and the testing proves we achieved that,鈥 Healey said.

Among the regional athletes who tested the shoe was the Saudi athlete Aziz Ibrahim. Reflecting on his results, he said: 鈥淎t first, I was unsure how stable the shoe would feel, but once I started running it felt incredibly light and fast. Each stride gave me an extra push forward, and I finished the session feeling fresher and stronger. The data showed that the Fast-R Nitro Elite 3 improved my running economy by 3.08 percent 鈥 which could mean cutting nearly six minutes from a marathon, two minutes from a half marathon, or close to a minute from a 10K. With its cushioning, carbon plate, and proven efficiency gains, this is a race shoe I can rely on.鈥 

Johan Kuhlo, managing director Puma Middle East, said: 鈥淭he Nitro Lab鈥檚 debut in the Middle East was a key moment to bring our innovation closer to athletes in the region. Runners here are part of one of the world鈥檚 most exciting and fastest-growing communities, and it was important for us to showcase the science behind the Fast-R Nitro Elite 3. The experience allowed them not just to try the shoe but to understand the performance data driving it. Unveiling the new colorway here first reflects both our focus on innovation and our long-term investment in the region.鈥

The Dubai Nitro Lab marked the platform鈥檚 first appearance in the Middle East after activations in four other global locations. Its arrival highlights the region鈥檚 growing appetite for performance sport and marathon running. 鈥淒ubai is a hub for running communities from around the world,鈥 added Gr眉ttner. 鈥淚t鈥檚 the perfect place to prove, with hard data, that our innovation performs better than competitors.鈥 

The Puma Fast-R Nitro Elite 3 are available now at Puma UAE retail stores, online in 黑料社区 and the UAE, and selected GO Sport retail stores.