- Sovereign wealth funds from the GCC region have capitalised on the recent energy revenue windfall to enhance their global presence. The funds use these external surpluses to expand their investments across various sectors in international markets.
- GCC state-owned investors use part of the additional inflows to make strategic investments in advanced and emerging market economies across the Americas, Europe and Asia.
- Abu Dhabi Investment Authority’s (ADIA) India investment rally continues with the wealth fund buying a stake in security firm SIS Ltd.
- ADIA purchased 2,195,631 shares at 415 Indian rupees ($5) apiece, amounting to 1.52% stake in SIS.
- The other buyer for a stake in SIS was India’s 360 One Mutal Fund A/C – 360 One Focused Equity Fund, which snapped up 2,984,055 shares at INR415 apiec
- Abu Dhabi’s clean energy company Masdar has signed an agreement with France’s TotalEnergies to explore a sustainable aviation fuel (SAF) project using methanol produced from green hydrogen.
- The agreement follows a "successful test flight" conducted by the two companies during the Cop28 climate conference in December, which demonstrated the potential for converting methanol to SAF, Masdar said in a statement on Thursday.
- Saudi Arabia's Public Investment Fund has signed partnerships worth up to $50 billion with six major Chinese financial institutions, aimed at strengthening its global co-operation strategy.
- The initial agreements were signed with Agricultural Bank of China, Bank of China, China Construction Bank, China Export and Credit Insurance Corporation, Export-Import Bank of China, and Industrial and Commercial Bank of China, the PIF said on Thursday.
