Saudi sovereign wealth fund - updates

Rappler's latest stories on Saudi sovereign wealth fund


Saudi Aramco completes purchase of 70% stake in SABIC

Jun 17, 2020 - 7:20 PM

Oil giant Saudi Aramco acquires a 70% stake in chemical giant SABIC for $69.1 billion

A picture taken on September 15, 2019 shows an Aramco oil facility near al-Khurj area, just south of the Saudi capital Riyadh. - Saudi Arabia raced today to restart operations at oil plants hit by drone attacks which slashed its production by half, as Iran dismissed US claims it was behind the assault. The Tehran-backed Huthi rebels in neighbouring Yemen, where a Saudi-led coalition is bogged down in a five-year war, have claimed thi weekend's strikes on two plants owned by state giant Aramco in eastern Saudi Arabia. (Photo by FAYEZ NURELDINE / AFP)

Saudi wealth fund 'shopping spree' belies economic pain

Jun 14, 2020 - 9:00 AM

Amid Saudi Arabia's worst economic crisis in decades, the seemingly contradictory state policy to splurge billions on overseas assets is raising eyebrows

An aerial view shows a deserted highway due to the COVID-19 pandemic, on the first day of the Eid al-Fitr feast marking the end of the Muslim holy month of Ramadan, in the Saudi capital Riyadh, on May 24, 2020. - Saudi Arabia, home to Islam's holiest sites, began a five-day round-the-clock curfew from May 23, in a bid to stem the spread of the novel coronavirus. (Photo by FAISAL AL-NASSER / AFP)

Saudi Arabia unveils first targets in sweeping reform plan

Jun 07, 2016 - 11:03 AM

3rd UPDATE The plan is a 5 year roadmap that lays out targets for each government ministry

A picture taken on March 9, 2016 shows towers under construction at the King Abdullah Financial District in the Saudi capital Riyadh. Fayez Nureldine/AFP

Saudi unveils far-reaching plan to move away from oil

Apr 26, 2016 - 12:55 PM

Deputy Crown Prince Mohammed bin Salman announces the Vision 2030 program which includes the creation of the world s biggest sovereign wealth fund

Saudi Defense Minister and Deputy Crown Prince Mohammed bin Salman answers questions during a press conference in Riyadh, on April 25, 2016. The key figure behind the unveiling of a vast plan to restructure the kingdom's oil-dependent economy, the son of King Salman has risen to among Saudi Arabia's most influential figures since being named second-in-line to the throne in 2015. Salman announced his economic reform plan known as "Vision 2030".  / AFP PHOTO / FAYEZ NURELDINE