Saudi Arabia's Public Investment Fund has divested a 70% stake in Al Hilal, one of the kingdom's most prominent football clubs, to Kingdom Holding Company. The transaction marks a notable shift in how the PIF structures its sports assets, moving from direct ownership toward a capital-light model that redistributes club equity to a private holding vehicle. Kingdom Holding Company, a diversified investment group with ties to the Saudi royal family, becomes the majority owner of Al Hilal following the deal. The move aligns with a broader pattern of sovereign wealth funds rebalancing portfolios by offloading operating assets to private or semi-private entities. For the Saudi Pro League, the transaction signals a potential governance and investment structure shift as clubs previously under direct PIF control transition toward more conventional ownership arrangements. Observers will watch whether similar divestments follow for other PIF-held clubs, and how Kingdom Holding plans to deploy capital or attract commercial partners into Al Hilal's operations going forward.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
