Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Join the forum, it's quick and easy

Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


2 posters

    Saudi Arabia to set up $2tn mega-fund for post oil era

    Proven
    Proven
    NNP TEAM
    NNP TEAM


    Posts : 1853
    Join date : 2012-12-21

    Fund - Saudi Arabia to set up $2tn mega-fund for post oil era  Empty Saudi Arabia to set up $2tn mega-fund for post oil era

    Post by Proven Fri 01 Apr 2016, 1:17 pm

    Saudi Arabia to set up $2tn mega-fund for post oil era

    Published time: 1 Apr, 2016 13:52
    Get short URL
    Fund - Saudi Arabia to set up $2tn mega-fund for post oil era  56fe7be0c3618881368b45d2
    Saudi Arabia's Deputy Crown Prince Mohammed bin Salman. © Charles Platiau / Reuters
    37
    The world’s largest crude exporter Saudi Arabia plans to create a huge sovereign wealth fund for the country’s most prized assets to prepare for a post oil era, said Deputy Crown Prince Mohammed bin Salman as cited by Bloomberg.

    The Public Investment Fund (PIF) will eventually control more than $2 trillion and help the kingdom to shift from oil which has seen falling prices strain Saudi Arabia's finances.
    Read more
    Fund - Saudi Arabia to set up $2tn mega-fund for post oil era  56f3f1f3c36188df018b458b Saudi Arabia to move from oil, earn more from Hajj  

    According to the Prince, the wealth fund already holds stakes in companies like Saudi Basic Industries (the world’s second-biggest chemicals manufacturer), and National Commercial Bank (the kingdom’s largest lender).

    “Undoubtedly, it will be the largest fund on Earth,” said the prince. “This will happen as soon as Aramco goes public.”

    As part of the new strategy, Riyadh plans to sell shares of state-owned energy company Saudi Aramco and transform it into an industrial conglomerate. The sale of the company is planned by 2018 or even a year earlier.

    “IPOing Aramco and transferring its shares to PIF will technically make investment the source of Saudi government revenue, not oil,” the prince said in an interview at the royal compound in Riyadh on Thursday. “What is left now is to diversify investments. So within 20 years, we will be an economy or state that doesn’t depend mainly on oil.”
    READ MORE: Riyadh to tap global bond markets to balance budget


    According to the fund’s secretary general Yasir Alrumayyan, PIF is expected to increase the proportion of foreign investments to 50 percent by 2020 from the current five percent.


    Read more
    Fund - Saudi Arabia to set up $2tn mega-fund for post oil era  56dffc75c46188593a8b45e9 Saudi Arabia will face cash crunch soon – expert
    The kingdom is highly dependent on oil revenues, and is suffering a record high budget deficit which is expected to reach $87 billion this year. The crude price crisis has had an impact on the economy as oil sales account for almost 80 percent of the country’s revenue. Saudi Arabia’s foreign reserves fell to $640 billion last year from $737 billion in 2014.

    In January Riyadh outlined an ambitious economic development plan aimed at dramatically reducing its dependence on crude prices. The authorities intend to restructure the economy by investing more in other sectors, particularly in healthcare, tourism and IT. The government also announced plans to liberalize the market in order to attract foreign investors.

    “It is clear Saudi Arabia needs to reform, diversify, and re-energize its economy, but this will involve more than just increasing investment in non-oil industries,” a professor of security studies at Georgetown University in Washington, Paul Sullivan told Bloomberg. “One cannot order economic reforms like a multiple course dinner.”


    https://www.rt.com/business/338032-saudi-arabia-megafund-assets/
    Proven
    Proven
    NNP TEAM
    NNP TEAM


    Posts : 1853
    Join date : 2012-12-21

    Fund - Saudi Arabia to set up $2tn mega-fund for post oil era  Empty Re: Saudi Arabia to set up $2tn mega-fund for post oil era

    Post by Proven Fri 01 Apr 2016, 1:24 pm

    Announced, Saudi Arabia wants to diversify and invest their sovereign wealth fund in foreign investments. 


    50 percent of 2 trillion dollars is 1 trillion dollars to invest!   Wow!


    I wonder where?  Don't tell me.  Let me guess.... Right next door.  


    Here are investors.  Part of the wolfpack.
    Neno
    Neno
    Admin
    Admin


    Posts : 10948
    Join date : 2012-12-17
    Age : 60
    Location : Lone Star State

    Fund - Saudi Arabia to set up $2tn mega-fund for post oil era  Empty Re: Saudi Arabia to set up $2tn mega-fund for post oil era

    Post by Neno Fri 01 Apr 2016, 9:13 pm

    Next door? lol, you mean Iraq? badboys

    Sponsored content


    Fund - Saudi Arabia to set up $2tn mega-fund for post oil era  Empty Re: Saudi Arabia to set up $2tn mega-fund for post oil era

    Post by Sponsored content


      Current date/time is Thu 28 Mar 2024, 6:47 am