Saudi PIF Financial Losses Exceed $5 Billion
Several Saudi companies have reported financial results and related-party transactions. United Insurance Cooperative incurred losses of 256.22 million riyals in 2020, with a 18% drop in revenue. Red Sea Global reported dealings with Al Dabbagh Holding exceeding 33.75 million riyals, primarily through an interest-free loan. Tadawul Group's profits fell to 55.6 million riyals in Q1 2026, despite increased operating revenues. South African golf commentator Dean Burmester has expressed support for the LIV Golf league despite rumors regarding Saudi Arabia's Public Investment Fund (PIF). Reports suggest the PIF could withdraw financial support due to growing losses totaling more than $5 billion. Burmester's comments come amid uncertainty regarding the league's future funding.
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Sources · 7 independent
SBA Al-Ekhbariya
“تكبّدت الشركة المتحدة للتأمين التعاوني خسائر قدرت بمائتين وستن وخمسين مليول ومائتين وعشرين ألف ريال خلال عام الفين وخمسين وعشرين”
SAfm
“Leaver has been thrust into the spotlight amid swirling rumors that the PIF could pull out amid growing financial losses that have reportedly totaled more than $5 billion.”
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