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Saudi PIF Tops Global Brand Value at $1.1 Bn

Saudi Arabia’s Public Investment Fund (PIF) has been ranked as the world’s most valuable sovereign wealth fund brand, outshining prominent asset management giants (Asharq Al-Awsat)
Saudi Arabia’s Public Investment Fund (PIF) has been ranked as the world’s most valuable sovereign wealth fund brand, outshining prominent asset management giants (Asharq Al-Awsat)
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Saudi PIF Tops Global Brand Value at $1.1 Bn

Saudi Arabia’s Public Investment Fund (PIF) has been ranked as the world’s most valuable sovereign wealth fund brand, outshining prominent asset management giants (Asharq Al-Awsat)
Saudi Arabia’s Public Investment Fund (PIF) has been ranked as the world’s most valuable sovereign wealth fund brand, outshining prominent asset management giants (Asharq Al-Awsat)

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has claimed the top spot globally as the most valuable brand, worth $1.1 billion, according to data from Brand Finance, a global brand valuation firm.

Brand Finance highlights the PIF’s strong brand appeal and ambitious growth plans, aiming to reach $2 trillion in managed assets by 2030.

The fund’s bold investment strategies have boosted its brand value and commercial strength.

With assets exceeding $930 billion, the PIF is a major global investor, shaping the future of the global economy by developing business sectors and creating new opportunities.

It also plays a crucial role in Saudi Arabia’s economic transformation, launching 94 new companies since 2017 and creating over 644,000 job opportunities domestically.

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Exports from Libya's Hariga Oil Port Stop as Crude Supply Dries Up, Say Engineers

A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)
A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)
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Exports from Libya's Hariga Oil Port Stop as Crude Supply Dries Up, Say Engineers

A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)
A general view of an oil terminal in Zueitina, west of Benghazi April 7, 2014. (Reuters)

The Libyan oil export port of Hariga has stopped operating due to insufficient crude supplies, two engineers at the terminal told Reuters on Saturday, as a standoff between rival political factions shuts most of the country's oilfields.

This week's flare-up in a dispute over control of the central bank threatens a new bout of instability in the North African country, a major oil producer that is split between eastern and western factions.

The eastern-based administration, which controls oilfields that account for almost all the country's production, are demanding western authorities back down over the replacement of the central bank governor - a key position in a state where control over oil revenue is the biggest prize for all factions.

Exports from Hariga stopped following the near-total shutdown of the Sarir oilfield, the port's main supplier, the engineers said.

Sarir normally produces about 209,000 barrels per day (bpd). Libya pumped about 1.18 million bpd in July in total.

Libya's National Oil Corporation NOC, which controls the country's oil resources, said on Friday the recent oilfield closures have caused the loss of approximately 63% of total oil production.