public investment fund fills key positions
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Public Investment Fund fills key positions

Arab Today, arab today

Arab Today, arab today Public Investment Fund fills key positions

Saudi Arabia’s Public Investment Fund
Jeddah - Arab Today

Saudi Arabia’s Public Investment Fund (PIF) said on Thursday it had filled key posts as part of plans to expand investment capacity and help reduce the Kingdom’s dependence on oil income.
Under economic reform plans announced early this year, the government has said it aims eventually to expand the PIF, founded in 1971 to finance development projects in the country, from $160 billion to about $2 trillion and increase investments abroad.
The PIF did not name the people it had appointed, but LinkedIn profiles showed at least five financial professionals had begun working at the sovereign wealth fund in the last several weeks.
In a statement Thursday, the fund said the appointments would help it “build a world-class investment portfolio, domestically and internationally, positioning it among the leading sovereign wealth funds globally.”
The PIF owns tens of billions of dollars’ worth of stakes in top Saudi companies. In a statement this week, the sovereign wealth fund said it had no plan to sell stakes in local companies.
In its expanded role, it is to invest more actively abroad in order to boost the government’s returns on its financial reserves and help to obtain business and technology that can diversify the Saudi economy beyond oil.
In June, the PIF departed from Saudi Arabia’s traditional strategy of investments abroad and took a step into the tech world by purchasing a $3.5 billion stake in US transport firm Uber.
Last month, it said it might invest up to $45 billion over the next five years in a technology investment fund that it would establish with Japan’s SoftBank Group
The new fund could grow as large as $100 billion, making it one of the world’s biggest private equity investors, the partners said.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

public investment fund fills key positions public investment fund fills key positions

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

public investment fund fills key positions public investment fund fills key positions

 



GMT 03:10 2017 Thursday ,31 August

Global crisis threatening national economy

GMT 23:19 2017 Wednesday ,08 March

Underprivileged children in Magdi Yacoub's heart

GMT 10:02 2017 Thursday ,07 December

Heidy contract to present talk show close to end

GMT 16:18 2017 Friday ,10 February

E-link between Saudi courts ordered

GMT 04:54 2017 Thursday ,24 August

US to tax Argentine, Indonesian biodiesel imports

GMT 20:54 2018 Thursday ,13 December

Jordan braces for more anti-austerity protests

GMT 15:54 2018 Tuesday ,30 October

140 settlers break into Al-Aqsa mosque

GMT 08:50 2018 Monday ,22 January

US Christian tourists see deep meaning

GMT 11:40 2016 Thursday ,24 March

Japan fleet kills 333 whales

GMT 11:37 2017 Thursday ,14 December

Ahmed Abdel Aziz reveals role in”Godfather 2”

GMT 03:35 2017 Thursday ,12 October

Huge explosion at chemical facility in eastern China

GMT 21:52 2017 Thursday ,03 August

IS claims mosque attack in Afghanistan's Herat
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday