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The Latest Breaking News from PIF

Australia commits to Pacific islands defence training as China seeks rival meeting

Australia will establish a defence school to train Pacific island militaries, Canberra's new Pacific minister said, amid intensifying competition for security ties and as Beijing seeks to host a rival meeting to the main regional group, the Pacific Islands Forum, next month.

Reuters

China pushes for Pacific foreign ministers meeting at same time Pacific Islands Forum meets

Beijing is attempting to muscle in on the Pacific's most important high-level gathering, pushing for a meeting with the region's foreign ministers on the same day as another key event.

ABC News

‘Things aren’t going back’: Australia braces for step-up in China’s Pacific push

Despite initial relief over island nations’ rejection of security and economic pact, senior government figure says reprieve could be only temporary

The Guardian - AU

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United States and China set to be excluded from Pacific Islands Forum meeting to avoid 'distraction'

The decision by the Pacific's peak diplomatic body to exclude major international powers from a crucial meeting next month will give leaders the opportunity to discuss regional issues without outside pressure.

ABC News

LIV Golf: Sportwashing vs. the commercial value of public attention

The LIV Golf Invitational Series held its first event recently at Centurion Club in St. Albans, England.

The Conversation

Fire silence on Arlo White speaks volumes

While the Fire haven’t said anything since White caught on with LIV Golf, the well-known announcer voiced reservations about the people funding it back in October.

Chicago Sun-Times

Newcastle owners £340m double signing proves talent for disruption - but Toon may have to wait

The Saudis have blown apart golf this week by spending hundreds of millions to attract the top stars to their LIV golf events, which has further proven that the PIF has billions to spend on disrupting the world of sport

Daily Mirror

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Saudi Arabia’s wealth fund takes 8% stake in Swedish gaming firm embracer

Saudi Arabia's sovereign wealth fund is taking an 8.1% stake in gaming group Embracer via a direct share issue as part of a push into the games and esports industry. Sweden's Embracer said in a statement it was issuing 99.9 million shares at a price of 103.47 per share to…

Asharq Al-Awsat

Pacific leaders reach crucial deal to restore political unity, as China’s interest in region accelerates

The agreement, which stops the region’s key diplomatic body, PIF, from splitting, lifts a ‘big dark, dark cloud that has been hanging over the Pacific’

The Guardian - AU

Pacific leaders strike a deal to keep Micronesian nations from splitting with Pacific Islands Forum

Micronesian leaders abandon demands for the current secretary-general of the Pacific Islands Forum to step down immediately, allowing him to serve out his term until 2024.

ABC News

Saudi PIF Close to Buying Stake in Starbucks Middle East

The Saudi Public Investment Fund (PIF) has been shortlisted to buy a stake in the Middle East, North Africa, and central Asia Starbucks franchise held by Alshaya Group, revealed sources. The Starbucks franchise has several hundred outlets in 14 countries across the Middle East, Russia, and central Asia. Last year,…

Asharq Al-Awsat

Pacific Island Forum's leadership crisis comes into focus as leaders arrive in Fiji to resolve tensions

The ABC understands Pacific Island leaders hope to strike an agreement to resolve leadership questions, reform the organisation and allow the forum to stay whole, after last year's threat by Micronesian nations to withdraw.

ABC News

Saudi PIF Buys 23.97% Stake in Capital Bank Group

Saudi Arabia's sovereign wealth fund, the Public Investment Fund, said on Sunday it will buy a 23.97% stake in Capital Bank Group, one of the largest banking groups in Jordan, Iraq and the Middle East and North Africa (MENA) region. PIF will pay $185 million for the stake, by buying…

Asharq Al-Awsat

Jared Kushner under congressional investigation for $2B Saudi investment with private firm

Kushner denies acting improperly over his firm's transaction with the wealth fund controlled by Saudi Arabia's crown prince.

Axios

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The Guardian - AU

The rejection of China’s deal shows the Pacific will not be used as a geopolitical pawn

Pacific leaders have sent a strong message that countries who want to partner with them must treat them with respect and take action on climate change

Daily Mirror

Dustin Johnson to play £20m Saudi event as Lee Westwood and Ian Poulter also sign up

Former world No. 1 Dustin Johnson has been named among the starters for the inaugural LIV Golf Invitational alongside British stars such as Lee Westwood and Ian Poulter

ABC News

China to continue pushing for Pacific Island nations to sign regional trade and security agreement

China's government says it remains confident it can strike a sweeping trade and security agreement with 10 Pacific Island states despite being forced to shelve its proposed agreement, but a new position paper walks back previous references on joint policing, free trade and cybersecurity.

Input

Saudi Arabia buys 5% of Nintendo, because why not

Saudi Arabia's Public Investment Fund, which has purchased small and large stakes in a number of tech companies, has purchase 1/20th of Nintendo.

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The New Daily

Penny Wong promised a new approach to rising China. Did she deliver?

Senator Wong's trip did not effect immediate changes, nor could it have, but did clear signal a new and longer view on what might tip the difference.

The New Daily

Penny Wong flying to Fiji on mission to reset Pacific relationships

Penny Wong will crossover with her Chinese counterpart on her second trip as Foreign Minister as she seeks to overhaul relationships in the Pacific.

The Guardian - UK

Revealed: government did encourage Premier League to approve Newcastle takeover

Boris Johnson’s government worked for months to encourage the Premier League to approve the controversial Saudi Arabia-backed takeover of Newcastle

Asharq Al-Awsat

Saudi PIF Acquires 16.8% of Kingdom Holding Company

The Saudi Public Investment Fund has acquired 625 million shares of the Kingdom Holding Company (KHC), representing 16.87 percent, with a total value of 5.6 billion riyals ($1.5 billion).

Asharq Al-Awsat

Al Rumayyan: Carbon Trading Platform in Saudi Arabia is Evidence of Change

The presence of a carbon trading platform in Saudi Arabia is in itself evidence of change, said the governor of the Saudi Public Investment Fund (PIF), Yasir Al Rumayyan, confirming that mega projects in the Kingdom like NEOM are depending on green sources for their energy needs. Speaking at a…

Asharq Al-Awsat

Saudi Arabia’s PIF Acquires Stakes in Nintendo

Saudi Arabia’s Public Investment Fund (PIF) has taken a 5.01% stake in Nintendo Co, 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, according to a filing to Japan’s Finance Ministry, making the…

Benzinga

Saudi Arabia's Public Investment Fund Scoops 5% Stake In Nintendo

Saudi Arabia's Public Investment Fund (PIF) scooped a 5.01% stake in Nintendo Co, Ltd (OTC:NTDOY), Reuters reports. PIF has also launched its own video game and e-sports company, Savvy Gaming. Also Read: Nintendo Declares 10-1 Stock Split After Posting 4% Sales Decline In FY22, Weaker Guidance PIF invested in video game companies Nexon Co Ltd (OTC: NEXOY), Capcom Co…

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