Sovereign wealth fund

Turkish grocery delivery app Getir said on Monday it was withdrawing from the United States and its remaining locations in Europe to focus instead on its domestic market.

Getir said in a statement that it was leaving the U.K., Germany, the Netherlands and the United States — countries where it generated seven percent of sales.

Türkiye Wealth Fund (TWF) has signed a $100 million Murabaha financing agreement with Sharjah Islamic Bank (SIB).

This three-year term agreement marks the first Islamic finance transaction for the TWF.

Doğan Investment Bank acted as the financial adviser and coordinator for the transaction, the fund said in a statement.

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.    

Norway's sovereign wealth fund, the world's largest, said yesterday it recorded a loss of 1,637 billion Norwegian kroner ($164 billion) in 2022, citing volatile markets.

President Vladimir Putin ordered the Russian government to look at curtailing spending from the state rainy-day fund on Friday, after the finance ministry said the global shift away from oil and gas could jeopardise Russian state finances within a decade.

Russian sovereign wealth fund RDIF said on Jan. 23 it had signed an agreement with Turkey on the production of its Sputnik V vaccine against COVID-19, the Interfax news agency reported.

RDIF added that it had begun transferring the production technology to Turkey.

The acquisition of a 10% share in Turkish stock exchange Borsa Istanbul by the Qatari state Investment Authority was completed on Nov. 30.

According to a statement from the Turkiye Wealth Fund (TWF), the transaction size of $200 million implies a total equity value of $2 billion.

Under the new legislation, the (TWF) will now be able to buy or to become partners with companies facing difficulty due to the coronavirus pandemic.

Turkey's Parliament on April 16 passed the bill prepared by the ruling Justice and Development (AK) Party to cushion the virus' impact on economic and social life.

Norway's $1 trillion wealth fund will exclude four companies for their vast emissions of greenhouse gases, or at least put them on probation to force them to change, the chairman of its ethics watchdog told Reuters.

Oman's sovereign wealth fund has withdrawn an 80 million euro ($89.98 million) claim against Bulgaria over the collapse of Corporate Commercial Bank (Corpbank), the Bulgarian finance ministry said in a statement on Thursday.