RIYADH: Saudi Arabia’s Public Investment Fund (PIF) assets have grown to about SR1.6 trillion ($426.6 billion) and it aims to expand this to SR4 trillion ($1 trillion) by the end of 2025, said Deputy Governor Yazeed Al-Hamid.
The sovereign wealth fund aims to boost its local investments to account for 75-80 percent of its total investments, Al-Hamid told Al Riyadh paper.
The PIF contributed about SR311 billion in the Saudi economy, and contributed to generating 331,000 direct and indirect jobs in the local market between 2016 and 2020. It aims to generate about 1.8 million direct and indirect jobs by the year 2025, he said.
The PIF also hopes to pave the way for more local stock exchange flotations by becoming an active participant in the Kingdom’s financial markets, through the listing of some of its Saudi units.
It is focusing on 13 strategic sectors including service utilities, renewable energy, aviation and defense, vehicles, transport and logistics, minerals and mining, financial services, health care, communications, media and technology, food and agriculture, and others, Al-Hamid said.
He emphasized the role of the fund’s investments in promoting the renewable energy sector in the Kingdom amid the pressing global challenge of climate change.
He said that the ‘fund of funds’ company (Jada) was established to stimulate investment in private equity and venture capital funds.
It has invested SR1.4 billion in 18 investment funds so far, Al-Hamid said.
Among its investments is a 50 percent stake in Americana, a leading restaurant and food company in the MENA region.
Saudi Arabia's PIF eyes $1 trillion assets by end of 2025, says deputy governor
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Saudi Arabia's PIF eyes $1 trillion assets by end of 2025, says deputy governor
Oman inflation at 1.6%, latest figures show
RIYADH: Oman’s consumer price index rose by 1.6 percent in December compared with the same month a year earlier, reflecting moderate inflationary pressures at year’s end.
Average inflation for the January–December 2025 period increased by 1 percent, according to official data.
Figures released by the National Center for Statistics and Information showed that miscellaneous personal goods and services recorded the sharpest price increase, rising by 10 percent year on year.
This was followed by transport at 2.8 percent, restaurants and hotels at 2.6 percent, and furniture, household equipment and routine maintenance at 2.4 percent, as well as education at 2.2 percent.
Food and non-alcoholic beverages prices increased by 1.1 percent, while clothing and footwear rose by 0.2 percent and health by 0.1 percent. In contrast, prices in the culture and recreation group declined by 0.1 percent.
Housing, water, electricity, gas and other fuels, as well as tobacco and communications, remained unchanged over the period.
Within the food and non-alcoholic beverages category, December prices compared with the same month of 2024 showed notable increases in fish and seafood at 6 percent and fruits at 4 percent.
Sugar, jam, honey and confectionery rose by 3.5 percent, milk, cheese and eggs by 2.1 percent, and non-alcoholic beverages by 0.9 percent.
Meat prices increased by 0.8 percent, bread and cereals, oils and fats by 0.7 percent, and other unclassified food products by 0.4 percent, while vegetable prices fell by 5.8 percent.
Regionally, Al Dhahirah governorate recorded the highest inflation rate at 2.5 percent by the end of December compared with a year earlier.
Inflation also rose by 2.1 percent in Al Dakhiliyah, 1.7 percent in Muscat and Al Buraimi, and 1.5 percent in South Al Batinah.
South Al Sharqiyah and Musandam each posted increases of 1.1 percent, while North Al Sharqiyah and North Al Batinah rose by 0.9 percent. Al Wusta and Dhofar recorded inflation of 0.8 percent.
The report highlights the relative importance of expenditure groups within the consumer price index basket, underscoring why movements in certain categories have a greater impact on overall inflation.
Housing, water, electricity, gas and other fuels carry the largest weight at 31.7, followed by food and non-alcoholic beverages at 20.6 and transport at 14.5.
Together, these three groups account for more than two-thirds of the CPI basket, meaning price stability in housing and utilities can significantly moderate headline inflation even when sharper increases are recorded in smaller-weight categories such as miscellaneous goods and services.
The analysis also notes that around 56,640 individual price quotations were collected from 3,907 sources across the Sultanate during the reference period.
In addition, rental data were gathered from a dedicated sample of 1,509 rented housing units, providing a detailed and representative measure of housing costs, which remain the most heavily weighted component of the inflation basket.
