Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

PIF of Saudi Arabia looks to invest in China

The sovereign wealth fund will invest $1.3 billion in these companies.
By TRENDS Desk
November 6, 2021 5:48 pm
  • The PIF has applied for a Qualified Foreign Institutional Investor license in China, to be able to directly trade renminbi-denominated stocks
  • The $450 billion sovereign fund, which hasn’t disclosed any investments in China, has ambitions to control $2 trillion of assets

Public Investment Fund of Saudi Arabia is looking to diversify investments into Chinese companies after having confined its overseas holdings to the US and Europe.

The PIF has applied for a Qualified Foreign Institutional Investor license in China, to be able to directly trade renminbi-denominated stocks, rather than having to go through third parties, according to information published on the website of the country’s top securities regulator.

The $450 billion sovereign fund, which hasn’t disclosed any investments in China, has ambitions to control $2 trillion of assets and become a global investment powerhouse.

This move makes sense for the kingdom as it looks to develop economic ties through investment by its sovereign fund. China is the kingdom’s biggest trading partner and a top customer for Saudi Aramco.

[adinserter block="5"]

Most Read

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]