Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has emerged as a significant player in both the U.S. public and private markets. Unlike most American funds, the PIF is not obligated to disclose its holdings in these markets. However, during the recent PGA-LIV merger hearings, a previously undisclosed list of the fund’s top
World
India is set to surpass Japan, Germany, and even the United States to become the world’s second-largest economy by 2075, according to a recent report by Goldman Sachs. Currently, India ranks as the fifth-largest economy globally, trailing behind Germany, Japan, China, and the U.S. The forecasted growth is driven by several factors, including a growing
Meta’s latest venture, Threads, has experienced a remarkable surge in popularity since its public launch on Wednesday night. Fueled by the vast userbase of Instagram, the text-based social media platform has already garnered an impressive 70 million sign-ups in its first full day, as confirmed by Meta CEO Mark Zuckerberg on Friday. The Verge reported
The stock market experienced a decline on Thursday as investors grew anxious about the state of the economy and the trajectory of interest rates. The Dow Jones Industrial Average fell by 441 points, equivalent to a 1.3% decrease. The S&P 500 also suffered a loss of 1.1%, while the Nasdaq Composite dropped by 1.3%. This
According to minutes released on Wednesday, almost all Federal Reserve officials at their June meeting expressed the likelihood of further tightening, but at a slower pace than the rapid rate increases seen since early 2022. The decision to hold off on a rate rise was made due to concerns over economic growth, despite the majority
The Dow Jones Industrial Average experienced a slight decline on Wednesday as Wall Street returned from a holiday-shortened week and awaited the release of Federal Reserve meeting minutes later in the day. The 30-stock average dropped by 97 points, or 0.3%, while both the S&P 500 and Nasdaq Composite saw losses of 0.2%. Anticipation of
Market strategist Jesper Koll believes that Japan’s Nikkei 225 could reach an impressive 40,000 points within the next 12 months. Koll’s positive outlook is based on several factors, including a strong rebound in business confidence and a supportive fiscal policy. If this prediction comes true, it would mean that the Nikkei would surpass its all-time
Google’s cloud computing division is actively engaging in productive early conversations with regulators in the European Union (EU) regarding the bloc’s pioneering artificial intelligence (AI) regulations. Thomas Kurian, the head of Google’s cloud computing division, revealed in an exclusive interview with CNBC that the company is collaborating with regulators to develop safe and responsible strategies
The Chief Economist of the European Central Bank (ECB), Philip Lane, has cautioned markets against anticipating interest rate cuts in the next two years. Despite the ECB’s recent 25 basis point increase in its main rate to 3.5%, Lane emphasized the need for restrictive policies to combat record-high inflation in the euro zone. In May,
Ian Bremmer, President of Eurasia Group, has stated that Yevgeny Prigozhin, the Russian mercenary chief, is a “dead man walking” after leading a failed rebellion against Russian President Vladimir Putin. Prigozhin, who is a former Putin ally and founder of the private military group Wagner, attempted to incite an armed revolt against Putin over the