Saudi’s PIF establishes 2 subsidiaries to boost economy
The PIF currently has net worth of $360 bn and ranks 8th among the world’s sovereign wealth funds
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China to launch sovereign digital currency to monetize currency issuance
The digital currency is currently tested in major cities such as Shenzhen, Suzhou, Chengdu and Xiongan
Petrobras restarts oil trade with Vitol and others after two years
The company will spend $40 bn between 2021 and 2025 on capital expenditure
Sultanate of Oman sees drop in residential and commercial property renting business
The total expat population in Oman recorded a year-on-year 2.9 percent slump between December 2018 and December 2019
Abu Dhabi National Oil Company carries out placement to institutional investors
The placement will boost ADNOC Distribution’s free float to 20 percent
The African Development Bank provides $27.33 mn relief package to African Union
The capital will provide technical assistance and develop the capacity for the 37 African Development Fund
Nvidia to acquire SoftBank’s chip designer subsidiary for $40 billion
Nvidia will also provide stakes between 6.7 percent and 8.1 percent to SoftBank and $100 billion Vision Fund
The European Commission makes its debut in green bonds issuance
The €750 billion borrowing deal with the international finance market was carried out in July
South Africa expects more than 7% economic downturn
South Africa’s GDP slumped 51 percent in the second quarter marking a back-to-back contraction for the fourth time in the year
Tanzania, Uganda to construct new East African crude oil pipeline
The cost requirement for the commercial production of the 1,445-km long pipeline is $3.5 billion