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Bloomberg is out with a spotlight piece on the PIF’s “rising force” Yazeed Al Humied, one of the sovereign wealth fund’s two deputy governors who was previously touted as the fund’s third-in-charge. Al Humied was a key player behind the PIF’s USD 5 bn investment pledge to BlackRock earlier this year, the business information service says, helping to position him as a key figure in the PIF’s shift towards domestic investment. Global firms looking to tap the Saudi market and raise funding from PIF are now turning to him.
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Also getting ink from Bloomberg: Major Chinese companies, like food delivery app Meituan are entering the Kingdom, drawn by shrinking margins at home and the “Vision 2030” promise of economic growth, the business information service says in an opinion piece. Meituan was praised for tapping into a burgeoning appetite for easy food delivery that appears to be fueled by women’s rising participation in the workforce, and a demand for diverse cuisines. Other players, like Lenovo and Cathay Pacific, are also eyeing the youthful Saudi market.
