Saudi Sovereign Wealth Fund Pledges $70 Billion Annually for Vision 2030 [TheGuru=HongSungHwan Lee] Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), plans to invest KRW 90 trillion annually starting in 2026 to fulfill its Vision 2030. "We plan to increase our annual capital deployment to $70 billion (about 93 trillion won) after 2025," PIF Governor Yasir Osman Alumayan said at the Future Investment Initiative (FII) conference in Miami, U.S., on Nov. 22, according to industry sources. Currently, PIFs invest between $40 billion and $50 billion (about $53 trillion and $67 trillion) annually. The fund invests 70 percent of its funds in Saudi Arabia and 20 to 25 percent abroad. "The share of foreign investments has decreased, but the volume has continued to grow," Alumayan said. "PIFs invested $100 billion (about $133 trillion) in each country between 2017 and 2023, creating more than 103,000 jobs," Alumayan said, emphasizing that "we have made a significant contribution to the U.S. economy." The PIF is the world's sixth-largest sovereign wealth fund with $600 billion in assets under management and is a key source of funding for Vision 2030 reforms. It is chaired by Saudi Arabia's Crown Prince Muhammad bin Salman, the country's de facto ruler. Saudi Arabia is implementing Vision 2030, a mid- to long-term development plan to move away from an oil-centric economy. It is a strategic national evolution plan to reduce the Saudi economy's dependence on oil, diversify its economic structure, and promote healthcare, education, infrastructure, recreation, and tourism. The goal is to expand non-oil exports from 16% in 2016 to 50% in 2030...
Kim Kardashian's Iconic Game Set to End: Fans Outraged Over Abrupt Termination Kim Kardashian's mobile game 'Kim Kardashian: Hollywood', which was released under her name in 2014, has announced that it will be shutting down in April...
Korean Semiconductors Caught in the Middle: Facing Pressure from U.S., China, and Japan With US President Joe Biden's visit to South Korea, the semiconductor industry is facing the challenge of securing competitiveness. The U.S. and Japan are expanding with software competitiveness and subsidies, and China is also looking for a way out of the U.S.'s grasp.
U.S. Allies Gear Up Against China's Trade Offensive in Electric Vehicles US expresses concern over China's dumping attempts. Respond with allies and build a public 'battery united front'. Opportunities for Korean companies. Strategies to combat Chinese overcapacity and low processing taxes. U.S., EU pressure China's EV industry. China's overcapacity could hurt global markets...
Investors Eye 'Sora': OpenAI's Breakthrough Technology Ignites Stock MarketThe era of true multimodal AI has begun The importance of multimodal AI is increasingly recognized in the global artificial intelligence (AI) market. Open AI / Ascannio-shutterstock.com Global AI companies like OpenAI and Google are accelerating their competition to secure multimodal AI technology that can comprehensively analyze and understand complex data such as images, […]
Goldman Sachs Predicts S&P 500 to Hit 5200 by Year-EndAmid the U.S. stock market continuously breaking records this year, investment bank Goldman Sachs has raised its year-end forecast for the Standard & Poor’s (S&P) 500 index. According to Bloomberg, on the 19th (all local time), Goldman Sachs revised its year-end S&P 500 forecast from the previous 5100 to 5200. This is a 3.9% increase […]
China Faces Worst-Case Economic Scenario: Potential Financial Crisis in 2027Predictions are surfacing that China’s economy, currently facing difficulties, could potentially lead to a financial crisis. The editorial cartoons from a media outlet hint at the plausible likelihood of such a scenario./Jingji Ribao. Currently, the worst-case scenarios primarily advocated by some foreign media and think tanks regarding China’s severe economic situation are being put forward. […]
From UC Berkeley to Billionaire: How Masayoshi Son Built His $15.1 Billion EmpireSoftBank CEO Masayoshi SonUK’s Arm stock price surgeAssets increase by $3.8 billion There is a corporate executive whose assets have soared by 5 trillion won due to the sharp rise in the stock price of Arm, a UK semiconductor design company. Bloomberg reported on the 13th that “With the surge in Arm’s stock price, the […]
Crypto Surge: Bitcoin Rockets to $52,000—Is Now the Time to Invest?The price of Bitcoin has soared, breaking through $52,000. As of 7:23 PM on the 15th, according to CoinMarketCap, the price of Bitcoin is $52,284.26, up 1.94% from 24 hours ago. It’s also strong in South Korea. Currently, Bitcoin is trading at $53,483.99 on the virtual asset exchange UPbit and has surpassed $53,000 at $53,450.67 […]
China's Employment Battle: $42 Billion Effort to Tackle Youth UnemploymentAmid China’s record-high youth unemployment rate last year, the Chinese government has reportedly invested around $42 billion to support employment. On February 14, Xinhua news agency and People’s Daily reported, citing the Ministry of Human Resources and Social Security, that there were 12.44 million new employees in China last year, and the central and local […]
Bitcoin Surges Above $52,000, Hits $1 Trillion Market CapThe current price of Bitcoin has exceeded about $52,000 (based on the Upbit exchange), pushing its market capitalization to over $1 trillion. According to the virtual asset (cryptocurrency) statistics site CoinGecko, at 9:50 AM on the 15th, Bitcoin was traded at $52,361.74, a 5.8% surge from the previous day’s average price on significant exchanges. Ethereum […]
Musk Brings Chinese Suppliers to Mexico to Avoid U.S. RestrictionsAccording to a report by Bloomberg on the 14th (local time), Elon Musk, CEO of Tesla, is causing concerns for the U.S. government by inviting Chinese auto parts manufacturers to Mexico. According to the report, Musk is building a new Monterrey, Nuevo Leon, Mexico factory. At Musk’s request, many sources reported that Chinese auto parts […]
Bitcoin Tops $50,000 for First Time in Over 2 Years on Spot ETF ImpactThe price of Bitcoin has surpassed $50,000 for the first time in 26 months. This results from the ongoing purchase trend that followed the approval of the Bitcoin exchange-traded fund (ETF). According to the global coin market relay site CoinMarketCap, on the 13th, Bitcoin was traded at $51,176 each as of 6 a.m., recording a […]
China to Remain 'The World's Factory' Despite Challenges: Decoupling China - Pessimism vs. OptimismDespite U.S. Restraints, China Remains the World’s Top ExporterChina Increases Investments and Exports to U.S. AlliesNo Manufacturing Superpower to Replace China YetJP Morgan: “China is not an Uninvestable Country” Despite economic uncertainties and U.S. restraints, China is expected to maintain its status as the “factory of the world.” Business Insider, a U.S. business news outlet, […]
European Commission Approves Korean Air-Asiana Merger with Conditions AttachedThe European Union (EU) Competition Authority (EC) has conditionally approved the merger of Korean Air and Asiana Airlines. With this, the merger has been approved in 13 out of 14 countries, leaving the United States as the lone exception. Late in the afternoon of the 13th, the EC posted on its website that it conditionally […]
Mexico's Fintech Boom: A Billion-Dollar Industry Set to SkyrocketThe fintech industry in Mexico is growing rapidly. As the nation passed the first fintech regulations in Latin America, the overall industry conditions have improved, and consumer interest in fintech is also increasing. Consequently, the potential for future growth is considered limitless. According to global market research institution Statista, as of 2022, Mexico’s fintech transactions […]
South Korean Entrepreneurs Tap into U.S. Telemedicine SurgeMedical market revitalized as the regulations related to the COVID-19 pandemic easedLG Electronics To Provide a non-face-to-face Telemedicine Solution In Partnership With Amwell In The U.S The United States is emerging as a promising market for telemedicine. As regulations related to telemedicine have been relaxed in the wake of the COVID-19 pandemic, increased demands are […]
Game Company Spoils Employees with Cleaning Services and More!Pearl Abyss, a game company, provides cleaning services to single-person householdsThe average annual salary is about $82,000 The radical benefits of domestic game companies are being highlighted. They even provide cleaning services for employees living alone. According to the industry, Pearl Abyss decided to provide a monthly house cleaning service to single-person households through an […]
NVIDIA Stock Surges 44%: Should You Invest Now? Artificial intelligence (AI) semiconductor giant Nvidia's stock price is soaring. On the New York Stock Exchange, Nvidia's stock price closed at $693.32, up 4.79% from the previous trading day.
US Accelerates Rare Earth Industry Growth to Counter China [TheGuru=Eung-Yong Jung] The United States is expected to accelerate the development of its own rare earth industry. With the value of rare earths increasingly high in various industries, the intention is to reduce the dependence on China for rare earths...
Saudi Sovereign Wealth Fund Pledges $70 Billion Annually for Vision 2030 [TheGuru=HongSungHwan Lee] Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), plans to invest KRW 90 trillion annually starting in 2026 to fulfill its Vision 2030. "We plan to increase our annual capital deployment to $70 billion (about 93 trillion won) after 2025," PIF Governor Yasir Osman Alumayan said at the Future Investment Initiative (FII) conference in Miami, U.S., on Nov. 22, according to industry sources. Currently, PIFs invest between $40 billion and $50 billion (about $53 trillion and $67 trillion) annually. The fund invests 70 percent of its funds in Saudi Arabia and 20 to 25 percent abroad. "The share of foreign investments has decreased, but the volume has continued to grow," Alumayan said. "PIFs invested $100 billion (about $133 trillion) in each country between 2017 and 2023, creating more than 103,000 jobs," Alumayan said, emphasizing that "we have made a significant contribution to the U.S. economy." The PIF is the world's sixth-largest sovereign wealth fund with $600 billion in assets under management and is a key source of funding for Vision 2030 reforms. It is chaired by Saudi Arabia's Crown Prince Muhammad bin Salman, the country's de facto ruler. Saudi Arabia is implementing Vision 2030, a mid- to long-term development plan to move away from an oil-centric economy. It is a strategic national evolution plan to reduce the Saudi economy's dependence on oil, diversify its economic structure, and promote healthcare, education, infrastructure, recreation, and tourism. The goal is to expand non-oil exports from 16% in 2016 to 50% in 2030...
Kim Kardashian's Iconic Game Set to End: Fans Outraged Over Abrupt Termination Kim Kardashian's mobile game 'Kim Kardashian: Hollywood', which was released under her name in 2014, has announced that it will be shutting down in April...
Korean Semiconductors Caught in the Middle: Facing Pressure from U.S., China, and Japan With US President Joe Biden's visit to South Korea, the semiconductor industry is facing the challenge of securing competitiveness. The U.S. and Japan are expanding with software competitiveness and subsidies, and China is also looking for a way out of the U.S.'s grasp.
U.S. Allies Gear Up Against China's Trade Offensive in Electric Vehicles US expresses concern over China's dumping attempts. Respond with allies and build a public 'battery united front'. Opportunities for Korean companies. Strategies to combat Chinese overcapacity and low processing taxes. U.S., EU pressure China's EV industry. China's overcapacity could hurt global markets...
Investors Eye 'Sora': OpenAI's Breakthrough Technology Ignites Stock Market The era of true multimodal AI has begun The importance of multimodal AI is increasingly recognized in the global artificial intelligence (AI) market. Open AI / Ascannio-shutterstock.com Global AI companies like OpenAI and Google are accelerating their competition to secure multimodal AI technology that can comprehensively analyze and understand complex data such as images, […]
Goldman Sachs Predicts S&P 500 to Hit 5200 by Year-End Amid the U.S. stock market continuously breaking records this year, investment bank Goldman Sachs has raised its year-end forecast for the Standard & Poor’s (S&P) 500 index. According to Bloomberg, on the 19th (all local time), Goldman Sachs revised its year-end S&P 500 forecast from the previous 5100 to 5200. This is a 3.9% increase […]
China Faces Worst-Case Economic Scenario: Potential Financial Crisis in 2027 Predictions are surfacing that China’s economy, currently facing difficulties, could potentially lead to a financial crisis. The editorial cartoons from a media outlet hint at the plausible likelihood of such a scenario./Jingji Ribao. Currently, the worst-case scenarios primarily advocated by some foreign media and think tanks regarding China’s severe economic situation are being put forward. […]
From UC Berkeley to Billionaire: How Masayoshi Son Built His $15.1 Billion Empire SoftBank CEO Masayoshi SonUK’s Arm stock price surgeAssets increase by $3.8 billion There is a corporate executive whose assets have soared by 5 trillion won due to the sharp rise in the stock price of Arm, a UK semiconductor design company. Bloomberg reported on the 13th that “With the surge in Arm’s stock price, the […]
Crypto Surge: Bitcoin Rockets to $52,000—Is Now the Time to Invest? The price of Bitcoin has soared, breaking through $52,000. As of 7:23 PM on the 15th, according to CoinMarketCap, the price of Bitcoin is $52,284.26, up 1.94% from 24 hours ago. It’s also strong in South Korea. Currently, Bitcoin is trading at $53,483.99 on the virtual asset exchange UPbit and has surpassed $53,000 at $53,450.67 […]
China's Employment Battle: $42 Billion Effort to Tackle Youth Unemployment Amid China’s record-high youth unemployment rate last year, the Chinese government has reportedly invested around $42 billion to support employment. On February 14, Xinhua news agency and People’s Daily reported, citing the Ministry of Human Resources and Social Security, that there were 12.44 million new employees in China last year, and the central and local […]
Bitcoin Surges Above $52,000, Hits $1 Trillion Market Cap The current price of Bitcoin has exceeded about $52,000 (based on the Upbit exchange), pushing its market capitalization to over $1 trillion. According to the virtual asset (cryptocurrency) statistics site CoinGecko, at 9:50 AM on the 15th, Bitcoin was traded at $52,361.74, a 5.8% surge from the previous day’s average price on significant exchanges. Ethereum […]
Musk Brings Chinese Suppliers to Mexico to Avoid U.S. Restrictions According to a report by Bloomberg on the 14th (local time), Elon Musk, CEO of Tesla, is causing concerns for the U.S. government by inviting Chinese auto parts manufacturers to Mexico. According to the report, Musk is building a new Monterrey, Nuevo Leon, Mexico factory. At Musk’s request, many sources reported that Chinese auto parts […]
Bitcoin Tops $50,000 for First Time in Over 2 Years on Spot ETF Impact The price of Bitcoin has surpassed $50,000 for the first time in 26 months. This results from the ongoing purchase trend that followed the approval of the Bitcoin exchange-traded fund (ETF). According to the global coin market relay site CoinMarketCap, on the 13th, Bitcoin was traded at $51,176 each as of 6 a.m., recording a […]
China to Remain 'The World's Factory' Despite Challenges: Decoupling China - Pessimism vs. Optimism Despite U.S. Restraints, China Remains the World’s Top ExporterChina Increases Investments and Exports to U.S. AlliesNo Manufacturing Superpower to Replace China YetJP Morgan: “China is not an Uninvestable Country” Despite economic uncertainties and U.S. restraints, China is expected to maintain its status as the “factory of the world.” Business Insider, a U.S. business news outlet, […]
European Commission Approves Korean Air-Asiana Merger with Conditions Attached The European Union (EU) Competition Authority (EC) has conditionally approved the merger of Korean Air and Asiana Airlines. With this, the merger has been approved in 13 out of 14 countries, leaving the United States as the lone exception. Late in the afternoon of the 13th, the EC posted on its website that it conditionally […]
Mexico's Fintech Boom: A Billion-Dollar Industry Set to Skyrocket The fintech industry in Mexico is growing rapidly. As the nation passed the first fintech regulations in Latin America, the overall industry conditions have improved, and consumer interest in fintech is also increasing. Consequently, the potential for future growth is considered limitless. According to global market research institution Statista, as of 2022, Mexico’s fintech transactions […]
South Korean Entrepreneurs Tap into U.S. Telemedicine Surge Medical market revitalized as the regulations related to the COVID-19 pandemic easedLG Electronics To Provide a non-face-to-face Telemedicine Solution In Partnership With Amwell In The U.S The United States is emerging as a promising market for telemedicine. As regulations related to telemedicine have been relaxed in the wake of the COVID-19 pandemic, increased demands are […]
Game Company Spoils Employees with Cleaning Services and More! Pearl Abyss, a game company, provides cleaning services to single-person householdsThe average annual salary is about $82,000 The radical benefits of domestic game companies are being highlighted. They even provide cleaning services for employees living alone. According to the industry, Pearl Abyss decided to provide a monthly house cleaning service to single-person households through an […]
NVIDIA Stock Surges 44%: Should You Invest Now? Artificial intelligence (AI) semiconductor giant Nvidia's stock price is soaring. On the New York Stock Exchange, Nvidia's stock price closed at $693.32, up 4.79% from the previous trading day.
US Accelerates Rare Earth Industry Growth to Counter China [TheGuru=Eung-Yong Jung] The United States is expected to accelerate the development of its own rare earth industry. With the value of rare earths increasingly high in various industries, the intention is to reduce the dependence on China for rare earths...
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