russia saudi arabia to set up 1 billion technology fund
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Russia, Saudi Arabia to set up $1 billion technology fund

Arab Today, arab today

Arab Today, arab today Russia, Saudi Arabia to set up $1 billion technology fund

Russia, Saudi Arabia to set up $1 billion technology fund
LONDON - Arab Today

Russia and Saudi Arabia plan to set up a $1 billion fund to invest in technology, the chief executive of a sovereign Russian wealth fund said on Wednesday.
The joint venture is the latest in a series of deals expected to be signed during a visit to Russia by King Salman this week, the first to Moscow by a reigning Saudi monarch.
Other deals include a $1 billion fund to invest in energy projects and Saudi investment in Russian toll roads, including a new one in Moscow to relieve congestion.
Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF) said on a press call that the two countries would seek areas of synergy between Russia and Saudi Arabia and aim to exploit their “unique technologies.”
He cited desalination technologies and energy efficiency for air conditioning, and also highlighted Russia’s largest tech company Yandex, which specializes in Internet-related services and products.
“Yandex is an interesting company for us because it is already present in the Middle East and Turkey and it has a search engine that beats Google in the Russian market by a large margin,” Dmitriev said.
The fund will also look at relevant investments outside Russia and Saudi Arabia, he added.
Saudi Arabia’s main sovereign wealth fund, the Public Investment Fund (PIF), has already invested in the SoftBank Vision Fund, a technology-focused private equity fund established with the Japanese company and other big investors.
Meanwhile, the RDIF has invested in Hyperloop One, which is developing an advanced transport system. (Reporting by Claire Milhench)

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

russia saudi arabia to set up 1 billion technology fund russia saudi arabia to set up 1 billion technology fund

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

russia saudi arabia to set up 1 billion technology fund russia saudi arabia to set up 1 billion technology fund

 



GMT 12:47 2016 Thursday ,01 September

'La La Land' musical masterpiece dazzles Venice film fest

GMT 12:42 2017 Monday ,20 February

Dalia al-Behairy begins 'Yawmiyat Zoga Mafrosa'

GMT 19:01 2017 Wednesday ,30 August

Oil prices down as US reels from Harvey

GMT 04:19 2017 Monday ,08 May

National forces attack mercenaries in Taiz

GMT 19:21 2017 Sunday ,07 May

Iranian Film Week opens in Baghdad

GMT 21:33 2017 Sunday ,30 July

Arab Quartet meeting kicks off in Bahrain

GMT 17:17 2016 Friday ,07 October

Aleppo bleeds as US and Russia spar

GMT 12:03 2015 Monday ,21 December

Nepal protester killed in constitutional crisis clash

GMT 09:47 2016 Thursday ,22 December

Trump vows to cut F-35 spending, as leaked memo

GMT 21:44 2017 Friday ,15 December

King establishes Hawar Development Committee

GMT 20:57 2017 Tuesday ,16 May

Naval Forces rescue 23 tourists in Hurghada

GMT 12:56 2017 Monday ,11 December

Lyon leave it late, Balotelli with Nice winner

GMT 06:18 2017 Thursday ,19 October

Russian delegation meets with Julphar chairman

GMT 21:20 2017 Monday ,23 October

Nasr, delegation of London Stock Exchange

GMT 14:40 2012 Saturday ,10 March

Magdy Al-Galad steps down

GMT 09:47 2017 Sunday ,12 March

Cat Camp in New York attracts cat lovers

GMT 14:57 2016 Friday ,09 September

Madonna, Ritchie settle child custody dispute

GMT 23:52 2017 Monday ,18 September

UAE economic growth boosting logistics sector
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday