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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

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.

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