- With assets worth $607.42 billion, Saudi Arabia’s Public Investment Fund has maintained the sixth spot in the list of top sovereign?wealth funds in the world, according to the latest data.
- Data released by the Sovereign?Wealth Fund Institute suggested that China Investment Corp. topped the list with?$1.350 trillion in assets, followed by?Norway Government Pension Fund Global and?Abu Dhabi Investment Authority with assets worth $1.13 trillion and $790 billion respectively.?
- Emerge, a joint venture between Abu Dhabi-based clean energy company Masdar and French energy giant EDF, has signed an agreement with Coca-Cola Al Ahlia Beverages, the soft drink brand's bottler and distributor in the UAE, to set up a 1.8 MWp solar photovoltaic plant for its Al Ain facility.
- The commercial and industrial (C&I) project, located at the Coca-Cola bottling facility in Al Ain, will be a combination of ground-mounted, rooftop, and car park installations.
- The Saudi Aramco owned investment fund, Wa’ed Ventures, has led a $14 million ‘bridge round’ in Terra Drone, the Japan-based urban air mobility tech firm. This will see the Japanese firm launch a new subsidiary in the Kingdom, to localize its drone services as well as serve a global autonomous vehicles market expected to ‘grow to $1.5 trillion by 2040’.
- Terra Drone, which launched in 2016, is on a ‘mission to evolve the world from the sky’.
- The UAE recently announced $30 billion investments to be pumped in South Korea as well as memoranda of understanding (MoUs) between the two nations in different fields, WAM news agency reported.
- This came within the framework of the summit meeting that was held between South Korean President, Yoon Suk Yeol, and the UAE’s leader, Sheikh Mohamed bin Zayed Al Nahyan, in Abu Dhabi earlier in January 2023.
