Saudi Arabia is launching soft money projects worth a total of $234 million. It will be made accessible to both domestic and international businesses. The Saudi Cultural Development Fund formally launched its so-called Film Sector Funding Program. Saudi Arabia is launching soft money projects worth a total of $234 million that will be made accessible … Read more
KARACHI: Government of Sindh has set up the ‘Sindh Flood Relief Fund’ to collect donations for victims of floods that have devastated the province. Provincial Minister for Information, Transport and Mass Transit and Focal Person Rain Emergency Sharjeel Inam Memon made the announcement about the relief fund. He said the government has decided that all … Read more
Aston Martin announced its intention to raise 653 million pounds ($773.15 million) Saudi Arabia’s sovereign wealth fund will become the second-largest stakeholder with a nearly 17 percent stake. The company aimed to increase its investment to up to 20% by 2023. In a capital raising intended to pay off debt and strengthen its company, Saudi … Read more
The Russian government has added $9.5 billion to its emergency reserve fund. Extra revenues from oil and gas exports have contributed to the increase in reserves. Russia’s economy is on the verge of its worst downturn in two decades, with inflation at highest level in 20 years. On Thursday, the Russian government added 551.4 billion … Read more
The World Bank’s total pledged contribution to Ukraine is more than $4 billion. The latest cash is backed by financial assurances from the United Kingdom, Netherlands, Lithuania, Latvia. Ukraine needs at least $5 billion per month to keep its government running in the short term. On Tuesday, the World Bank’s executive board approved $1.49 billion … Read more
WASHINGTON: The world is changing. From Covid-19 and climate change to digitalisation and diverging demographics, the IMF’s member countries are confronting new challenges. The impacts of these challenges are being felt unevenly across countries and will inevitably play out in their balance of payments, potentially undermining global economic stability. It is therefore important that the … Read more
KARACHI: The National Investment Trust Limited (NITL) is in the process of launching two new funds, NIT-Social Impact Fund (NIT-SIF) and NIT-Islamic Money Market Fund (NIT-IMMF), a statement said on Thursday. To introduce the new funds and discuss NIT’s performance, NITL managing director Adnan Afridi met Fauji Foundation managing director Waqar Ahmed Malik in Islamabad. … Read more
DUBAI: A consortium led by developer ACWA Power has reached financial closure for the 1,500MW Sudair solar plant, a key project in Saudi Arabia’s renewable energy push, Arab News reported. The developer also announced that Aramco-owned Sapco has joined the consortium, marking the oil giant’s first participation in the Saudi Public Investment Fund’s renewable energy … Read more
