Saudi Arabia’s King Salman issued a directive to transfer $27 billion to the Public Investments Fund. The allocation to the sovereign wealth fund aims to diversify investments and lessen the country’s dependence on oil revenues.
The movement of funds from Saudi Arabia to the PIF from SAMA, as the central bank is known, indicates that the role of the central bank could be gradually shifting, Mohamad Al Hajj, Dubai-based equity strategist for the Middle East and North Africa at EFG-Hermes U.A.E. Ltd.
Volkswagen, its Audi and Porsche luxury brands, BMW, Daimler, and Ford’s European division have joined forces to build more electric car charging sites across Europe. The joint venture wants to create 400 charging sites next year in order to boost the demand on electric vehicles.
The death of long-time Cuban leader Fidel Castro pave the way for funds intended for Cuba's fortune.
Jill Stein has already raised $6.3 million for her call for an election recount, close to the target of $7 million. The fund will be used to cover for the expenses in the recount for votes in Wisconsin, Michigan and Pennsylvania.
The pension funds of biggest accounts are on a lax with Donald Trump as the president.
Children of the Apostolic Christian Church of Tremont join efforts to raise funds for the Journal Star Christmas Fund. The sum collected will benefit those who live in central Illinois. The Sunday School aims to educate the children of the significance of giving at an early age.
President-elect Donald Trump holds meetings with media executives as his inauguration draws near. He stated that he will be accepting donations from big corporations and individuals for the activities surrounding his inauguration.
Governor Susana Martinez stands firm in telling new lawmakers not to tap on the state's permanent fund to resolve budget deficit. There have been moves towards increasing fund distribution for education.
The Giving Fund returns for its 33rd year of providing help to individuals in need. This has been a tradition every holiday season.
An entrepreneur who made his fortune building a $14 billion tech company is setting up a life science venture capital fund. The Israel-focused fund will target maturing life science startups with a view to helping companies grow into the next Teva ($TEVA) rather than sell up or outlicense their programs.
Spark Capital, an early and growth-stage venture firm, has raised a total of$1 billion for two funds, according to a news post. The firm closed $400 million for its fifth venture fund and $600 million for its second growth fund. Investors included foundations and university endowments.
The Kingdom of Saudi Arabia's sovereign wealth fund is considering selling stakes in local companies to raise funds for international expansion, according to five people with knowledge of the matter.
Just recently, Samsung has announced its plan to purchase the US based Harman International Industries, Inc. through an all-cash deal worth $8 billion.
To save its economy, Connecticut approves aid package for its 2nd hedge fund which will grant benefits to the people and the current industry.