Public Investment Fund of Saudi Arabia

Saudi Arabia has put a second four-percent chunk of shares of the Aramco oil giant, worth tens of billions of dollars, under the control of the country's sovereign wealth fund, state media said Sunday.    

SoftBank Group Corp's Vision Fund will invest in creating the world's biggest solar power project in Saudi Arabia, it said on March 27, stepping up its involvement in the kingdom and expanding beyond technology.

The city of robots, renewable energy and its own laws must modernize the kingdom and its economy. Saudi crown prince Mohammad bin Salman presented a plan for the construction of a futuristic city that should help the kingdom become a country of the 21st century.

The European Bank for Reconstruction and Development is in talks with Gulf sovereign wealth funds to invest jointly, and hopes to complete a round of fund-raising for such investments by the end of this year, the bank's president said on Feb. 13.

Saudi Arabia's largest telecommunications firm STC plans to buy a 10 percent stake in car booking firm Careem, the company said on Dec. 18.

Careem is a competitor of U.S.-based Uber, a smartphone app that connects passengers and drivers.