text: Updated May-10-2019, 20:24:56 GMT
  U.S. News Dec-20-2017, 17:27:38 GMT
  ground transportation, passenger transportation, sovereign fund chief, (3 more...)
  Country: Asia > Middle East > Saudi Arabia > Ar Riyad (0.56)
  WSJ.com: WSJD - Technology Aug-8-2018, 22:33:56 GMT
  His new investments come as Saudi Crown Prince Mohammed bin Salman also bets heavily on tech companies to draw know-how and expertise to the kingdom. Those efforts are part of the de facto Saudi ruler's long-term plan--called Vision 2030--to reshape the kingdom's oil-reliant economy by boosting the private sector. The country's sovereign-wealth fund, the Public Investment Fund, has amassed a nearly 5% stake in electric-car maker Tesla Inc., a senior Saudi adviser familiar with the matter said Tuesday. PIF already has taken a 45% stake in SoftBank Group Corp.'s $100 billion Vision Fund and made a $3.5 billion bet on Uber Technologies Inc. SoftBank is hiring the head of Deutsche Bank AG's unit in Saudi Arabia to lead a new office in Riyadh, with the goal of encouraging the Vision Fund's portfolio startups to set up in Saudi Arabia. "The Saudis likely see these technologies and firms are going to be part of the future…as Saudi Arabia looks to diversify away from hydrocarbon industries," said Monica Malik, chief economist at Abu Dhabi Commercial Bank.
  ground transportation, prince al-waleed, saudi arabia government, (14 more...)
  The Japan Times May-10-2019, 20:24:56 GMT
  VANCOUVER, BRITISH COLUMBIA - Vancouver penthouses, ski chalets at Whistler, and holiday retreats in Persian Gulf islands are among the thousands of properties identified in a dirty-money probe that estimates more than 7 billion Canadian dollars ($5 billion) was laundered through British Columbia last year. The startling findings from two reports released by the provincial government Thursday illustrate how a torrent of suspicious cash has fueled casinos, luxury car sales and real estate in the Pacific Coast region. "The amount of money being laundered in B.C. is more than anyone predicted," Finance Minister Carole James told reporters Thursday, referring to the western Canadian province. In real estate alone, an estimated C$5 billion may have been laundered last year in the province -- equivalent to 4.6 percent of all transactions by value in that period, according to one of the reports. In the Vancouver region, where housing prices rose more than 70 percent in five years, "I certainly believe that money laundering played a part," James said.