Browse related articlesSaudi plans first sovereign wealth fund
Saudi Arabia: Thursday, January 24 - 2008 at 14:00
Saudi Arabia, the world's biggest oil producer, plans to start its first sovereign wealth fund with about $6bn, channeling surplus cash from crude-oil revenue into foreign companies, reported Bloomberg. The Saudi monetary authority, known as SAMA, is the nation's central bank and manages the kingdom's currency reserves. The Public Investment Fund provides loans to ventures that will develop the Saudi economy.
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Amena Bakr, Senior ReporterThursday, January 24 - 2008 at 14:00 UAE local time (GMT+4)
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