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Saudi Sovereign Fund Tops Global Governance, Sustainability Ranking

King Abdullah Financial District in Riyadh, Home to the Public Investment Fund (SPA)
King Abdullah Financial District in Riyadh, Home to the Public Investment Fund (SPA)
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Saudi Sovereign Fund Tops Global Governance, Sustainability Ranking

King Abdullah Financial District in Riyadh, Home to the Public Investment Fund (SPA)
King Abdullah Financial District in Riyadh, Home to the Public Investment Fund (SPA)

Saudi Arabia’s Public Investment Fund (PIF) has been ranked the top sovereign wealth fund globally in the 2025 Governance, Sustainability, and Resilience (GSR) rankings released by international research firm SWF Global.

The achievement marks the third consecutive year that the fund has maintained its leading position in the Gulf and across the Middle East, underscoring its growing influence and adherence to global best practices in governance and sustainability.

The annual GSR report - widely regarded as a benchmark for evaluating sovereign wealth and public pension funds - assesses the performance of the 200 largest funds worldwide, which collectively manage over $29.4 trillion in assets. The rankings focus on governance frameworks, environmental and social responsibility, and resilience to economic and geopolitical shifts.

Strategic Transformation and Transparency

The report highlighted the PIF’s strategic transformation since the launch of Saudi Vision 2030. No longer functioning solely as an investment vehicle, the fund has emerged as a key economic driver shaping the Kingdom’s future and boosting its global competitiveness.

Key factors contributing to the PIF’s top ranking include its commitment to achieving net-zero emissions by 2050, alignment with the United Nations Sustainable Development Goals through its green finance framework, and enhanced transparency in governance and sustainability disclosures.

In November 2023, the fund voluntarily adopted the Global Investment Performance Standards (GIPS) issued by the CFA Institute, signaling its continued adherence to global standards of governance, integrity, and disclosure.

Driving Renewable Energy and Financial Resilience

PIF is also central to Saudi Arabia’s sustainability agenda. It is responsible for developing 70% of the Kingdom’s renewable energy capacity, aiming to raise the share of renewables in the national energy mix to 50% by 2030. This aligns with Saudi Arabia’s broader goal of reaching net-zero emissions by 2060, while the fund itself remains on track to hit its 2050 target.

The fund’s adherence to international best practices has bolstered its credit profile, earning it an “AA3” rating from Moody’s and an “A+” from Fitch. This has supported its diversified financing strategy, including a £650 million bond issuance, $2 billion in sukuk, and a $15 billion flexible credit facility. The PIF has also launched a global commercial paper program to further enhance liquidity and funding options.

Since 2017, the PIF has helped generate over 1.1 million direct and indirect jobs both domestically and internationally, reflecting its broader mission of economic diversification and growth.

About SWF Global

SWF Global is an independent research organization focused on connecting and analyzing sovereign investors. It operates a data platform and publishes monthly reports, in addition to offering advisory services and executive education through its Sovereign Fund Academy, targeting fund managers and policymakers.

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Business

India Secures 60 Days of Oil Supply amid Hormuz Disruption

Small boats sail loaded with goods in front of a container ship in the waters of the Strait of Hormuz off the coast of Oman, June 25, 2025 (AFP)
Small boats sail loaded with goods in front of a container ship in the waters of the Strait of Hormuz off the coast of Oman, June 25, 2025 (AFP)
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India Secures 60 Days of Oil Supply amid Hormuz Disruption

Small boats sail loaded with goods in front of a container ship in the waters of the Strait of Hormuz off the coast of Oman, June 25, 2025 (AFP)
Small boats sail loaded with goods in front of a container ship in the waters of the Strait of Hormuz off the coast of Oman, June 25, 2025 (AFP)

India has secured crude oil supplies for the next 60 days, ensuring stable fuel supplies in the country despite disruption in shipments from the Middle East, the oil ministry said in a statement on Thursday.

India, the world's third biggest oil consumer and importer, was buying over 40% of its oil imports from the Middle East. Those supplies are disrupted due to the US-Israeli war on Iran.

Higher availability of crude in global markets, mainly from the Western hemisphere, has helped offset the shortfall, the government said.

Taking advantage of a temporary US waiver, Indian refiners have also ramped up purchases of Russian crude, securing millions of barrels to fill the supply gap.

"Despite the situation at the Strait of Hormuz, India is today receiving more crude oil from its 41-plus suppliers across the world than what was previously arriving through the Strait," the ministry said.

As a net exporter of petroleum products, India’s domestic availability of petrol and diesel remains structurally secure, the government said.

The world's fourth-largest refiner has oil and fuel stocks sufficient to meet 60 days of demand, against a total storage capacity of 74 days, it added.

"Nearly two months of steady supply is available for every Indian citizen, regardless of what happens globally. The next two months of crude procurement have also been secured," it added.

India has asked refiners to maximize production of liquefied petroleum gas, used as cooking fuel, as the nation was buying 90% of its LPG imports from the Middle East.

Domestic daily LPG production has been increased by 40% to 50,000 metric tons against a requirement of 80,000 tons, it said.

In addition, Indian companies have secured 800,000 tons of LPG cargoes from the United States, Russia, Australia, and other countries, it said.

These shipments, arriving across India's 22 LPG import terminals, provide roughly one month of assured supply, with further procurement underway, the government said.

Business

SAMA Licenses Two Companies to Provide Open Banking Services

SAMA Licenses Two Companies to Provide Open Banking Services
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SAMA Licenses Two Companies to Provide Open Banking Services

SAMA Licenses Two Companies to Provide Open Banking Services

The Saudi Central Bank (SAMA) announced the licensing of “Altknwlwjya aljadydh llhulul albrmjyh” and “lyn tknwlwjyz Company Saudi Arabia litqniyat nuzum almaelumat” to conduct payment services by providing account information—one of the services associated with open banking.

The licenses were granted following the successful completion of the regulatory sandbox phase under SAMA’s supervision.

The decision reflects SAMA’s ongoing efforts to support and enable the financial sector, enhance the efficiency and flexibility of financial transactions, and promote innovation in financial services. This aims to advancing financial inclusion and expanding access to financial services across all segments of society.

SAMA emphasizes the importance of dealing exclusively with authorized financial institutions. To view licensed and permitted financial institutions, visit SAMA's official website.

Business

UK Suffers OECD's Biggest Growth Downgrade as Iran War Pushes Up Energy Costs

This overhead view shows buildings along the River Thames in London on March 25, 2026. (Photo by JUSTIN TALLIS / AFP)
This overhead view shows buildings along the River Thames in London on March 25, 2026. (Photo by JUSTIN TALLIS / AFP)
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UK Suffers OECD's Biggest Growth Downgrade as Iran War Pushes Up Energy Costs

This overhead view shows buildings along the River Thames in London on March 25, 2026. (Photo by JUSTIN TALLIS / AFP)
This overhead view shows buildings along the River Thames in London on March 25, 2026. (Photo by JUSTIN TALLIS / AFP)

Britain's economic ‌growth prospects this year received the sharpest downgrade of any major economy in the OECD's interim forecast update on Thursday following the US-Israeli war ​on Iran, while inflation is set to rise faster too.

The Paris-based international body cut its 2026 forecast for British economic growth by half a percentage point to 0.7%, compared with a 0.4 percentage point downgrade for the euro zone and a 0.3 percentage point upgrade for the United States.

"Planned fiscal tightening and higher energy prices ‌are anticipated to keep ‌growth subdued in the United ​Kingdom, ‌though the ⁠impact ​will be ⁠attenuated by lower policy rates next year," Reuters quoted the OECD as saying in its report.

Following are further highlights from the report and other context:

Britain's growth forecast for 2027 is unchanged at 1.3%.

Britain's inflation forecast for 2026 is revised up by 1.5 percentage points from December to 4.0%, the ⁠biggest upward revision of any large, advanced ‌economy.

UK inflation in 2027 ‌is forecast to be 2.6%, 0.5 percentage ​points higher than in ‌December and above the Bank of England's 2% target.

Poorer UK households spend more on gas and electricity than in other rich countries, though total energy spending makes up a smaller share of UK inflation than elsewhere.

The OECD expects the ‌BoE to keep interest rates unchanged this year then cut in Q1 2027 as inflation ⁠eases.

⁠Britain's Office for Budget Responsibility, in forecasts finalized just before the start of the conflict, predicted GDP growth of 1.1% this year and 1.6% in 2027.

The BoE this month forecast inflation would rise to 3.0-3.5% over the next couple of quarters.

Prime Minister Keir Starmer has made boosting growth and reducing the cost of living top goals for his government.

Finance minister Rachel Reeves said the forecasts showed the war in the Middle East ​was affecting Britain but ​she would still focus on "regional growth, embracing AI and innovation, and establishing a closer relationship with the EU."