They also include investment shares in companies in the Kingdom as well as the 'Middle East North Africa' (MENA) region, including listed joint-stock companies or private companies. Share Logo of the Public Investment Fund (PIF) Brazil's BRF Co. stated that it signed a memorandum of understanding (MoU) with the Public Investment Fund ( PIF) to establish a joint venture (JV) to produce and sell poultry products in the Kingdom. Meanwhile, the euro was up 0.07 percent to $1.0934 but was below the one-year high of $1.10755 it touched last week, with traders expecting the regions central bank to stick to its monetary tightening path. 0:38 2K views 13 24 62 Retail sales surged 10.6 percent on-year in March, the biggest increase since June 2021, though industrial production climbed 3.9 percent last month, an improvement from January-February but below analysts' expectations of 4.4 percent. Earlier, we were not buying crude oil from Russia, and now we are doing that. Performance numbers calculated through 2023-02-14. [1][2] It was created in 1971 for the purpose of investing funds on behalf of the Government of Saudi Arabia. All quotes delayed a minimum of 15 minutes. [15], The PIF has 38% stake in Posco Engineering & Construction Co., a 5% stake in Uber (for $3.5billion), and a 5% stake in the video game companies Capcom and Nexon (for $1billion). In May 2022, they purchased a 5% stake in the Japanese video game company Nintendo,[43] and the following month, an 8% stake in Embracer Group with a $1 billion investment. The Public Sector Investment Facility (PIF) is one of Finland's development policy instruments for funding investments in developing countries. Minutes of the last Reserve Bank of Australia meeting showed that the central bank considered an 11th-consecutive rate hike in April before deciding to pause. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. [34] He also said PIF would borrow conservatively to finance specific assets and would seek further partnerships such as those with Blackstone and SoftBank. Earlier this month, in its first disclosure of investments, Sanabil Investments revealed its ties to more than 50 venture capital and private equity firms including Blackstone, KKR & Co., Andreessen Horowitz, General Atlantic, Hellman & Friedman and Platinum Equity. Still, experts have warned that wider global trends could yet weigh on China's recovery. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. He said, "We know they killed Khashoggi and have a horrible record on human rights". Shell restarts Pierce field operations in the UK North Sea Meanwhile, Aramco, in a statement to Tadawul said that the transfer will not affect Aramcos total number of issued shares, as the shares transferred will rank equally alongside other existing ordinary shares in the firm. The CME FedWatch tool shows that markets are pricing in a 87.4 percent chance of a 25 basis point hike in May. There was an error. It also divulged its direct investment portfolio, which included the machine learning-based discovery engine Atomwise, customer experience software company ActionIQ and cybersecurity platform Vectra, to name a few. PIF maintains a leading and impactful investment strategy in line with Vision 2030, to drive Saudi Arabia's economic transformation through active, long-term investments and high standards of governance and transparency. Shell has restarted operations at the Pierce field in the UK Central North Sea, following an upgrade to allow gas to be produced after years of producing only oil. An AFP poll of analysts predicted that the Chinese economy would grow by an average of 5.3 percent this year, roughly in line with the International Monetary Fund's 5.2 percent forecast. [58], In October 2021, a division of the PIF, Golf Saudi funded the establishment of the LIV Golf Investments, with Greg Norman declared to be its CEO. The PIF's wagers on Carnival and Live Nation, which itrevealed in April filings, were valued at $457 million and $416 million respectively at the end of March. Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Saudi Arabia's $360 billion sovereign-wealth fund, the Public Investment Fund, or PIF, has been aggressively putting its money to work in investments around the world. Separately, PIF has invested $3.5 billion in Uber in 2016, and its managing director Yasir Al Rumayyan sits on the company's board. PIF has built deep connections with top-tier international investors and partners, asset managers, investment banks, and international brokerage firms to become one of the world's largest investment institutions. Sovereign Wealth Fund Institute and SWFI are registered trademarks of the Sovereign Wealth Fund Institute. Despite the global economic slowdown due to the COVID-19 pandemic, PIF has taken advantage of investment . Current Assets for PIF is $607,418,895,000 and SWFI has 42 periods of historical assets, 17 subsidiaries, 14 Opportunities/RFPs, 197 personal contacts available for CSV Export. Through Kushner's firm, Saudi could open to Israeli businesses, which could prove to be lucrative for the Arab country. Now, our priority of trade has changed after the Ukraine war. On the other hand, the fund exited five companies, namely Cisco, Berkshire Hathaway, Booking, Union PacificCorp.(UNP), and CNQ, along with theReal Estate Select Sector SPDR Fund and the Materials Select Sector SPDR Fund. 2023 Forbes Middle East. The PIF is pursuing a two-pronged strategy, building an international portfolio of investments while also investing locally in projects that will help to reduce Saudi Arabias reliance on oil. They support the Kingdoms economic transformation efforts and promote investments in several sectors, while achieving high returns over the medium and long terms. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Signing an FTA would be Russias way of saying that they are serious about economic relations with India, Pant said. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Follow @arabnews. [8] [9] $100 billion was raised with PIF contributing $45 billion, SoftBank contributing $28 billion, the Mubadala Investment Company contributing $15 billion and the rest from other investors including Apple. [11] The board says PIF is aligned with the government's Vision 2030[12] with the aim to diversify the economy. He added it will "take time for (a) business confidence recovery, which requires translating the credit expansion into money flow to support real economic activities". [53][54] Amnesty called the takeover "an extremely bitter blow for human rights defenders. [17] PIF owns Qiddiya,[18] spearheads the Red Sea Project for luxury beach resorts,[19][20] and owns the closed joint-stock company named Neom. Saudi Arabia's Public Investment Fund (PIF) is investing $3.5 billion into Uber, with its Managing Director Yasir Al Rumayyan joining Uber's board. About Public Investment Fund (PIF) is building a world-class domestic and international investment portfolio, and is positioned to be transformed into the world's largest sovereign wealth fund.. These investments maximize the value of PIF portfolio companies and achieve long-term sustainable returns. DUBAI, April 16 (Reuters) - A 4% stake in oil major Saudi Aramco (2222.SE) has been transferred from state ownership to Sanabil Investments, which is wholly owned by the Saudi Arabia's sovereign wealth fund, Crown Prince Mohammed Bin Salman said on Sunday. [1] By April 2022, Kushner's equity firm primarily depended on Saudi money, as it only had $2.5billion under its management. NEW DELHI:India and Russia are in discussions for a free trade agreement, their ministers said on Monday, with the deal expected to further boost commercial ties that have flourished since Moscows invasion of Ukraine. 1 Established in 1971 by Royal Decree, the PIF has financed many key Saudi projects. The kingdom's Public Investment Fund grew its US stock portfolio from about $2.2 billion at the end of December to $9.8 billion at the end of March,according to a Securities and Exchange Commission filing last week. Beijing's virus-containment policy -- an unstinting regime of strict curbs on the population -- strongly constrained normal economic activity before it was abruptly ditched in December. On 19 March 2023, UBS confirmed the planned acquisition of Credit Suisse by UBS. It also disclosed a small stake in Berkshire Hathaway. [9] For much of its history, the PIF was a passive entity that oversaw the Saudi state's equity in listed firms. for 300m had been agreed between incumbent owner Mike Ashley and a prospective buying consortium consisting of the Public Investment Fund, PCP Capital Partners and Reuben Brothers. Saudi Arabia's PIF discloses investments in dozens of buyout firms. Stocks in the SPR fell to 368 million barrels in the week to April 14, its lowest level since Oct 1983, based on DOE and Energy Information Administration data. Norman dismissed the questions saying, "We've all made mistakes" and that Saudi wanted "to move forward". Stay informed and spot emerging risks and opportunities with independent global reporting, expert The kiwi rose 0.10 percent to $0.619, while the Australian dollar gained 0.22 percent to $0.672. [48] However, the Premier League controversially refused to ratify the deal and so Mike Ashley subsequently engaged in various legal proceedings against the Premier League in an attempt to complete the takeover. They want to invest in it whether or not it goes through, whether or not there is any possibility of succeeding., This transfer of stakes is a part of Saudi Arabias long-term initiatives to boost and diversify the national economy. [32] During the CEO Forum US-Saudi, arms deals were announced including a pledge to "assemble 150 Lockheed Martin Black Hawk helicopters" in Saudi Arabia, representing 450 jobs in Saudi Arabia" as part of the "$6billion deal for Black Hawks. April 16, 2023 10:26. [45], In 2021, PIF invested $2billion into a private equity firm that had been newly formed by Jared Kushner, Donald Trump's son-in-law, shortly after he left the White House. [7], In July 2014, the Council of Ministers granted the PIF authority to fund new companies inside and outside the Kingdom, either independently or in cooperation with the public and private sectors, without the council's prior approval. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. The losses were related to the investments in WeWork and Uber Technologies Inc. Current Assets for PIF is $607,418,895,000 and SWFI has 42 periods of historical assets, 17 subsidiaries, 14 Opportunities/RFPs, 197 personal contacts available for CSV Export. 1 auto market, G7 puts focus on push for global fossil fuel phaseout deal, J&J lifts profit forecast as cancer drugs, Stelara buoy pharma unit, Exclusive: Airbus advises airlines of 2024 delays, keeps output goals, AstraZeneca confident new COVID antibody protects against known variants. The $300 billion fund, which aims to diversify Saudi Arabia's economy away from oil, likely capitalized on the coronavirus sell-off to purchase the stocks at bargain prices. It instead left a stake of $2.7billion in Uber. The FPSO, owned and operated by Bluewater, stopped production in October 2021 to enable the fields upgrade. We support credit card, debit card and PayPal payments. It also acquired shares in JPMorgan (JPM.N) and BlackRock (BLK.N), buying 3.9 million shares and 741,693 shares respectively. [59][60][61][62], LIV Golf's strategy differed from other leagues as it offered the richest golf tournaments in history and was able to convince star players to take part. The government has set a comparatively modest growth target of around five percent this year, a goal the country's Premier Li Qiang has warned could be hard to achieve. Indias imports from Russia more than quadrupled to over $46 billion over the last fiscal year, mainly through oil, which had been available only in small quantities before the war that began in February last year. [55] The other 19 Premier League clubs condemned the takeover, saying it damaged the Premier League's brand. Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. This will schedule a job to export all requested 13f holdings data for this filer.
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