The Saudi Red Sea Authority (SRSA) has granted Cruise Saudi, a company owned by the Public Investment Fund, its inaugural license to operate as a maritime tourism agent for cruise ships. This landmark license represents a crucial advancement in the burgeoning coastal tourism industry, aligning with SRSA’s role in fostering the sector through regulation and licensing.
Asset manager BlackRock is launching an investment platform in Riyadh with a $5 billion anchor investment from the Saudi Public Investment Fund (PIF). The platform, called BlackRock Riyadh Investment Management (BRIM), aims to bring foreign institutional investment into Saudi Arabia, develop the local asset management industry, and support the development of the kingdom’s asset management talent.
