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.
Flipkart will launch a food delivery pilot in Bengaluru by mid-August, charging restaurants a 10-11% commission compared to the 25-35% levied by Swiggy and Zomato. The move targets growing restaurant discontent with incumbent platforms and aims to drive daily engagement across Flipkart's 500 million registered users.
Maruti Suzuki crossed two lakh domestic units in July 2026 for the first time, recording 42.4% year-on-year growth. Total sales including exports and OEM supplies reached 2,41,421 units, with all passenger vehicle segments posting gains.
Air India's net loss more than doubled to ₹22,238 crore in FY26, prompting Tata Sons chairman N Chandrasekaran to extend the Vihaan.AI turnaround timeline from five years to as long as a decade.
UpGrad's all-stock acquisition of Unacademy, valued at Rs 1,955 crore, is set to close within three weeks after CCI clearance and near-complete investor sign-offs. The deal combines upGrad's upskilling business with Unacademy's test prep and medical education platforms, with Gaurav Munjal staying on as CEO.
