Oslo, Norway -- Norway's sovereign wealth fund said Wednesday that it would incorporate artificial intelligence tools into its investment analysis process to avoid losses stemming from climate change. The sovereign fund, the world's largest, is sustained by Norway's vast oil and natural gas reserves, but it pushes the companies it...
Norway sovereign fund drops investments in 11 Israeli companies
Oslo, Norway -- Norway's sovereign wealth fund, the world's largest, said Monday that it was selling its investments in 11 Israeli companies, following reports it had invested in an Israeli jet engine maker even as the war in Gaza raged. Nicolai Tangen, chief of Norges Bank Investment Management (NBIM), which...
Saudi PIF’s assets up by $11.44bn by the end of third quarter 2024
Riyadh, Saudi Arabia – The value of assets under Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) assets—both domestic and foreign—in the Saudi financial market recorded an annual growth of 37 percent (by nearly SAR 43 billion or $11.44bn) by the end of the third quarter (Q3) of 2024. This...Norway wealth fund earns $109bn on gain in tech stocks in Q1
Oslo, Norway -- Norway's sovereign wealth fund, the world's largest, posted a gain of more than $100 billion in the first quarter amid the global stock market recovery, it said Thursday. The fund -- fuelled by the Norwegian state's oil and gas revenues -- saw a return of 6.3 percent...
PIF fifth largest sovereign wealth fund as assets rise to $940.3bn
Riyadh, Saudi Arabia -- Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF) rose to the fifth position among the world’s largest sovereign wealth funds (SWFs), after its net assets rose to $940.26 billion. PIF's assets rose by $163.6 billion, compared to $776.7 billion at the end of December 2023, according to the...
Saudi Arabia unveils AROYA Cruises to boost tourism industry
Riyadh, Saudi Arabia-- Saudi Arabia has unveiled its own cruise-line brand called AROYA Cruises to fuel growth in its tourism sector, luring 1.3 million cruise visitors by 2035. According to media reports, AROYA, though a part of Cruise Saudi, will run as an independent business unit. Its name was formed...Zain Group to sell tower infrastructure
PIF-led consortium to buy 80 percent stake in 8,069 towers.
Saudi sovereign wealth fund PIF has $1.2 bn stakes in two Japan gaming firms
RIYADH: Saudi Arabia’s biggest sovereign wealth fund, Public Investment Fund, has stakes of more than 5 percent in two Japan-listed gaming companies. Bloomberg said the combined holdings are worth around $1.2 billion in Capcom Co., the maker of the Street Fighter and Resident Evil franchises, and online games provider Nexon...Mining third pillar of Saudi economy, ripe with opportunities: PIF governor
The mining sector is the third pillar of Saudi Arabia's economy and the kingdom has enormous natural resources and offers promising investment opportunities in the sector, said Governor of the Public Investment Fund Yasir bin Othman Al Rumayyan. Al Rumayyan said many of the future industries depend on the mining...
Mubadala and Bahrain’s sovereign wealth fund Mumtalakat sign pact
Mubadala Investment Company and Bahrain Mumtalakat Holding Company, the sovereign wealth fund of the Kingdom of Bahrain, Tuesday signed a Memorandum of Understanding (MoU) to facilitate strategic cooperation between the two institutions. As part of the MoU, Mubadala and Mumtalakat will explore worldwide co-investment opportunities. They will also exchange knowledge...
McLaren raises US$757m, adds Saudi wealth fund as investor
The deal makes Saudi Arabia’s PIF a minority shareholder in the group Some of the money raised will be used to pay back loan taken out last year McLaren, a leading UK carmaker, has raised £550 million (US$757 million) fund in a deal that makes Saudi Arabia’s Public Investment Fund...PIF appoints former Samba CEO as head of compliance
Rania Nashar has more than two decades of experience in the banking sector PIF has increased its employees from 40 in 2016 to more than 1,100 employees today Saudi Arabia’s Public Investment Fund (PIF) said it appointed Rania Nashar, former CEO of Samba Financial Group, as its head of compliance...
