MBS: Saudi sovereign fund doubling assets in five years to $1.07T

The five-year plan would see the fund creating 1.8 million direct and indirect jobs, said Prince Mohammed bin Salman. Saudi Arabia’s Public Investment Fund (PIF) plans to double its assets to 4 trillion riyals ($1.07 trillion) by 2025, Prince Mohammed bin Salman said on Sunday, a move that would make it one of the world’s […]

Aramco may sell more shares, sovereign wealth fund governor says

Yasir Al-Rumayyan, the governor of Saudi Arabia’s Public Investment Fund, made the announcement during a media briefing about PIF’s five-year plan. Saudi Arabia’s oil giant Saudi Aramco may consider selling more shares if market conditions are right, the head of Saudi Arabia’s sovereign wealth fund told a news briefing on Tuesday. The Saudi government sold […]

US reinstates Sudan’s sovereign immunity

State sponsor of terrorism designation weighed on Sudan’s economy and restricted its ability to receive aid. The United States Congress has passed a bill that includes largely restoring Sudan’s legal immunity, days after the country was formally removed from the US list of states sponsoring terrorism (SST). However, the legislation, passed on Monday, does include […]