PIF

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International

Saudi Arabia’s sovereign wealth fund declares $11bn loss in 2022

Saudi Arabia's Public Investment Fund (PIF) declared a loss on its investments of nearly $11bn in 2022, Bloomberg reported on Tuesday, after splurging on US stocks and tech investments. The loss compares with a profit of $19bn in 2021. The kingdom’s $650bn sovereign wealth fund is chaired by Crown Prince Mohammed bin Salman and is the main vehicle for the diversification of Saudi Arabia's economy away from its reliance on oil revenue. The […]

today12 July 2023

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International

Saudi Arabia’s sovereign wealth fund raises massive $17bn loan

INTERNATIONAL Saudi Arabia's sovereign wealth fund has secured a $17 bn loan from a group of 25 banks, a sign of the continued appetite among international financiers to invest in the oil-rich kingdom’s economy. The Public Investment Fund (PIF) is at the centre of Saudi Arabia’s efforts to remake the kingdom’s economy and diversify away from petrodollars. The cash injection will be provided by financial institutions from the US, Europe […]

today2 December 2022

VOC became the first Muslim radio station in South Africa when a special events license was granted to the station in Ramadan/January 1995. Subsequent temporary broadcast licenses were granted, permitting the station to broadcast for 24 hours.

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