(ANSA) – ROME, AUGUST 17 – The Saudi sovereign fund invested 7.5 billion dollars in American blue-chips between April and June. The Public Investment Fund acquired minority stakes in 17 companies, including Alphabet, BlackRock and Microsoft. The investments reflect the good health of the Saudi economy thanks to the soaring oil prices. A leap that helped Crown Prince Mohammed bin Salman emerge from the diplomatic isolation he had slipped into with the death of journalist Jamal Khashoggi.
Last month, the prince received Joe Biden, who encouraged him to pump more oil to lower prices and help fight runaway inflation. Bin Salman then flew to Paris to be received by President Emmanuel Macron. (HANDLE).
Source: Ansa
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