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Articles

Saudi Seeks $8B Loan as War Strains Finances

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By Turqi Alnowaiser, Jared Kushner, Yazeed A. Al-Humied
| startupsmena.com
Saudi Arabia has quietly approached banks to gauge interest in a loan of at least $8 billion as wartime disruptions and higher import costs strain public finances, people familiar with the outreach said. The National Debt Management Center (NDMC), part of the finance ministry, is leading the effort, and state-backed Saudi Aramco has held separate, very early talks with lenders — although both potential transactions remain preliminary and may not proceed.
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Boss Mysteriously Exits Saudi Arabia's $38 Billion Gaming Fund

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By Andrew Wilson, Brian Ward, Turqi Alnowaiser
| startupsmena.com
Brian Ward, the chief executive of Savvy Games Group—the roughly $38 billion fund spearheading Saudi Arabia’s investments in electronic entertainment—has stepped down, and Turqi Alnowaiser, governor of the kingdom’s Public Investment Fund (PIF), will serve as interim CEO.
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