Saudi Arabia’s Public Investment Fund sees 2024 profits drop
![CORRECTION / A picture taken in Riyadh shows the sign in Arabic of an Aramco gas station on the outskirts of the Saudi capital Riyadh on November 5, 2024. Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third quarter profit on November 5, 2024, citing low oil prices. (Photo by Fayez Nureldine / AFP) / "The erroneous mention[s] appearing in the metadata of this photo by Fayez Nureldine has been modified in AFP systems in the following manner: changing the second phrase to refer to Saudi](/sites/default/files/styles/article_hero_large/public/2025-06/GettyImages-2182386773.jpg?h=cf3e9931&itok=i9YSdULP)
Welcome back to Al-Monitor Business & Tech.
As the dust settles from the 12-day Iran-Israel war, investors in the region press on with financing for new projects. We cover several in the newsletter this week, including a French company’s infrastructure partnership to help rebuild Syria, as well as an obscure Emirati firm investing in Donald Trump’s cryptocurrency project. Meanwhile, Saudi Arabia’s Public Investment Fund, one of world’s largest sovereign wealth funds, saw its 2024 profits nosedive by 60% as inflation and high interest rates started to bite.
Thanks for reading,
Jack (@jackvdutton)
