{
}
Saudi Arabia's Public Investment Fund has halted investments in Swiss financial markets following the Swiss government's handling of the Credit Suisse crisis, which resulted in a sudden $17 billion write-off of AT1 bonds. This move has damaged Switzerland's reputation as a safe haven for investors, prompting concerns about the stability of its financial system, particularly with UBS's significant liabilities. The swift regulatory actions have led to a loss of trust among overseas investors, reshaping perceptions of risk in Swiss assets.
Yasir Al-Rumayyan, Governor of Saudi Arabia’s Public Investment Fund, criticized the EU's upcoming sustainability regulations as "outrageous," warning they could deter global investment and lead to disinvestment from Europe. He highlighted a recent regulatory change in Switzerland that negatively impacted PIF's investment in Credit Suisse, emphasizing the need for a stable and predictable business environment to maintain and grow investments in the region. Despite these concerns, PIF has invested $85 billion in the EU since 2017, aiming to double that by 2030.
Tesla officially launched operations in Saudi Arabia, showcasing the Cybertruck and redesigned Model Y amid efforts to boost electric vehicle adoption in the Kingdom. Despite a 13% drop in global sales, local executives outlined plans for online orders, pop-up stores, and charging stations, while Musk's past tensions with Saudi officials appear to have eased. However, the country still faces significant challenges in expanding its EV infrastructure, with only 101 charging stations compared to 261 in the UAE.
In the lead-up to the US presidential election, a prominent UAE royal met with Elon Musk, while the head of Saudi Arabia’s Public Investment Fund was seen with Donald Trump and Musk post-election. This alliance is viewed as a significant opportunity for influential Middle Eastern financiers like Sheikh Tahnoon bin Zayed Al Nahyan and Yasir Al Rumayyan.
Yasir Al-Rumayyan
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Saudi Fund Halts Swiss Investments After Credit Suisse Crisis Fallout
12:05 23.05.2025
PIF chief criticizes EU sustainability rules as risk to investment stability
16:25 18.05.2025
Tesla launches operations in Saudi Arabia amid electric vehicle ambitions
Euro
United States Dollar
Tesla, Inc.
USA
SAU
ARE
CHN
Yasir Al-Rumayyan
Donald Trump
Elon Musk
Show more
09:25 11.04.2025
musk and trump alliance attracts gulf wealth funds to us investments
12:45 21.11.2024
Trending
Subcategory
AI Innovations
Corporate News
Stock Market Updates
Industry Trends
Market Analysis and Predictions
Startups & Entrepreneurship
Banking Regulations
Emerging Startups
Cybersecurity Innovations & Tech
Funding Rounds & Investments
Product Launches
Economic Indicators
Fintech Startups
Private Equity Deals
Software Development Trends
Venture Capital Investments
Retail and Consumer Goods
Industry Mergers & Acquisitions
AI Applications
Finance Mergers & Acquisitions
Countries:
Companies:
Huawei Technologies CO. Ltd.
UBS Group AG
NVIDIA Corporation
Nvidia Corporation
Apple Inc.
Google Inc.
Microsoft Corporation Corp.
Berner Kantonalbank AG
Deutsche Bank AG
Crane Company
Deyaar Development PJSC
Maverick Ventures (Israel) 1.5 GP Ltd.
SuperSeed B.V.
DeepSeek R1 USD
Tencent Holdings Limited
XPeng Inc.
Toyota Motor Corporation
Alphabet Inc.
Xiaomi Corporation
NEO-NEON
Currencies:
United States Dollar
Euro
Chinese Yuan
Swiss Franc
Indian Rupee
British Pound Sterling
Japanese Yen
South African Rand
Filipino Peso
Norwegian Krone
Offshore Chinese Yuan
People: