FILE - Storage tanks are seen at the North Jiddah bulk plant, an Aramco oil facility, in Jiddah, Saudi Arabia, on March 21, 2021. Saudi Arabia's crown prince announced Sunday the transfer of a 4% stake of the oil giant Saudi Aramco to a subsidiary of the kingdom's sovereign wealth fund, further boosting its coffers as the kingdom tries to expand its economy beyond oil.
DUBAI, United Arab Emirates — Saudi Arabia’s crown prince announced Sunday the transfer of a 4% stake of the oil giant Saudi Aramco to a subsidiary of the kingdom’s sovereign wealth fund, further boosting its coffers as the kingdom tries to expand its economy beyond oil. “The transfer will also solidify PIF’s strong financial position and credit rating,” the statement about the deal said. It gave no possible investment targets for either Sanabil or the PIF.
One day oil won't rule the world.
Wealth transfer to himself. It's a scam. That PIF is used to fund things like his LIV Golf league which pays billions to a start up golf league in an attempt to sportswash itself. Buy soccer clubs, Cristiano (or whatever his name is). Shameful.
Another soccer club?
That’s great step 👏 Well done 👏 Using Aramco stakes in another company owned by PIF to ( boost ) its revenue is a great smart step👌
Wealth transfer in practice.He is a very wise crown prince.
NUFC war chest
Eddie Howe’s transfer war chest nufc
Saudi Prince gifts tiny portion of country's assets back to the country it belongs to.
Personal enrichment, imagine that
Nothing on the transfer of the Biden clan wealth fund...? I know, not allowed..
Copying Norway's system. That's great for the people.
It's a trick.
Is it Jared and Ivanka?
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