PIF Launches Saudi Egyptian Investment Company

The Public Investment Fund launched the Saudi Egyptian Investment Company to invest in promising sectors throughout Egypt.
The Public Investment Fund launched the Saudi Egyptian Investment Company to invest in promising sectors throughout Egypt.
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PIF Launches Saudi Egyptian Investment Company

The Public Investment Fund launched the Saudi Egyptian Investment Company to invest in promising sectors throughout Egypt.
The Public Investment Fund launched the Saudi Egyptian Investment Company to invest in promising sectors throughout Egypt.

The Saudi Public Investment Fund (PIF) launched on Friday the Saudi Egyptian Investment Company (SEIC) to invest in promising sectors throughout Egypt, one of the world’s emerging markets.

SEIC will invest in priority sectors including but not limited to, infrastructure, real estate development, health care, financial services, food and agriculture, manufacturing, pharmaceutical and other opportunistic investments.

The company will also contribute to enhancing access for PIF and its portfolio companies, along with the Saudi private sector, to a variety of investment opportunities in Egypt. This will help drive attractive long-term commercial returns and boost cooperation across many strategic sectors.

Yazeed Alhumied Deputy Governor and Head of MENA Investments at PIF, said: "We are pleased to announce the launch of the Saudi Egyptian Investment Company, in line with PIF’s ongoing expansion domestically and globally, and in alignment with our 2021-2025 strategy."

"In light of the economic growth in the region, SEIC will capitalize on lucrative investment opportunities within a number of promising Egyptian economic sectors, which will also support the expansion efforts of Saudi businesses and other PIF portfolio companies," he added.

"The strategic economic partnerships that PIF has established with many investors and leading companies are among the most fundamental elements of its success," he stressed.

The launch of SEIC comes in line with PIF’s strategy to explore new investment opportunities in the MENA region that support the creation of long-term strategic economic partnerships to achieve sustainable returns to maximize the Fund's assets and diversify Saudi Arabia’s economy in line with Vision 2030.



Oil Prices Inch up on Geopolitical Risks, Easing Tariff Worries

A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer/ File Photo
A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer/ File Photo
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Oil Prices Inch up on Geopolitical Risks, Easing Tariff Worries

A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer/ File Photo
A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer/ File Photo

Oil prices edged up on Thursday on signs of easing trade tensions, stronger than expected economic data from the world's top oil consumers and renewed risks in the Middle East.

Brent crude futures were up 17 cents, or around 0.3%, to $68.67 a barrel at 0856 GMT. US West Texas Intermediate crude futures were up 31 cents, or 0.5%, at $66.69.

"Oil thinking has been distracted from the Middle East, and the reminders of Israel's attacks into Syria and the drone attacks on oil infrastructure in Kurdistan are timely and once again add a little fizz to proceedings," said John Evans, analyst at PVM Oil Associates, Reuters reported.

"Any other incident that deprives the market of barrels will be added to the low inventory narrative and we expect prices to continue to hold with any risk being to the upside."

Drone attacks on oilfields in Iraq's semi-autonomous Kurdistan region have slashed crude output by up to 150,000 barrels per day, two energy officials said on Wednesday, as infrastructure damage forced multiple shutdowns.

Meanwhile, US President Donald Trump has said letters notifying smaller countries of their US tariff rates would go out soon, which along with his renewed optimism about prospects of a deal with Beijing on illicit drugs and an agreement possible with Europe helped calm investors.

"Trump softened tones on China and proposed lower tariff rates on smaller countries, which are seen as positive developments in the global trade outlooks," said independent analyst Tina Teng.

"China's better-than-expected economic data and the US's larger-than-expected oil inventory draw have both been bullish factors for oil prices."

US crude inventories fell more than expected by 3.9 million barrels to 422.2 million barrels last week, the Energy Information Administration said on Wednesday, suggesting stronger refinery activity, tighter supply, and increased demand.

However, larger than expected builds in gasoline and diesel inventories capped price gains, raising concerns of weakening demand from summer travel, ANZ analysts said in a note on Thursday.

Data showed that China's June crude oil throughput was up 8.5% from a year ago, implying stronger fuel demand.