logo
Saudi Fund Exits US Stocks Including Meta in Second Quarter

Saudi Fund Exits US Stocks Including Meta in Second Quarter

Bloomberg5 days ago
Saudi Arabia's sovereign wealth fund exited positions in several US-listed stocks in the second quarter, including Meta Platforms Inc., during a period of market volatility sparked by President Donald Trump's tariff policies.
The $1 trillion Public Investment Fund also sold holdings in FedEx Corp. and Shopify Inc., according to a Bloomberg News analysis of its latest 13F filing. Meta, the parent of Facebook and Instagram, rose about 28% during the quarter and was among the PIF's biggest exits.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

VVDN Expands Manufacturing Footprint into the UAE to Meet Global Demand
VVDN Expands Manufacturing Footprint into the UAE to Meet Global Demand

Yahoo

time11 minutes ago

  • Yahoo

VVDN Expands Manufacturing Footprint into the UAE to Meet Global Demand

GURUGRAM, India, Aug. 20, 2025 /PRNewswire/ -- VVDN Technologies, a global provider of software, product engineering and electronics manufacturing services & solutions, today announced it is setting up a new manufacturing facility in the UAE as part of its global expansion strategy. The new facility, which is slated to be operational in 4 weeks, marks another significant milestone for VVDN. The new facility is strategically located to cater to customers across the United States, Europe, and MENA region. The state of the art production facility will include PCB assembly, automated product assembly, mechanical manufacturing, testing and validation, and other critical verticals, consistent with VVDN's backward integration strategy. The facility will support the manufacturing of a wide range of advanced electronics products including those in Telecom, MedTech, Automotive, Cameras, Industrial Automation and other high-tech solutions. VVDN's robust infrastructure and end-to-end capabilities will enable it to offer customers accelerated time-to-market and cost-effective solutions, all while maintaining the highest standards of quality and compliance. With this expansion, VVDN further strengthens its position as a global leader in the electronics design and manufacturing services, building on its existing presence in India, North America, Europe, and Asia-Pacific. Gourab Basu, Sr Vice President, Manufacturing Commercials – VVDN Technologies: "VVDN's new manufacturing facility in UAE is a major milestone in our journey. The UAE presents a highly attractive environment for manufacturing, thanks to its strategic location, advanced infrastructure, and growing local market. Positioned as a gateway between the East and West, the UAE enables seamless access to diverse markets. This expansion reflects VVDN's dedication to bringing manufacturing closer to its global clientele while meeting the increasing demand for high-quality, commercially competitive solutions with a quick-turnaround. This will be the primary catalyst in our vision to expand our manufacturing setups across the world." By entering new geographies, VVDN demonstrates its commitment to deepening its global presence and advancing its long-term vision of becoming the leading provider of the electronics design and manufacturing through cutting-edge technology and consistent growth. About VVDN: Founded in 2007, VVDN is a global technology innovation company specializing in software services, product engineering, and electronics manufacturing. With headquarters in Gurugram, India and Fremont, USA, VVDN has a strong global presence including the US, Canada, Europe, Vietnam, South Korea, and Japan. The company operates 11 advanced R&D centers globally and 8 manufacturing facilities in India, offering end-to-end solutions from Hardware, Mechanical, Embedded Software, and Cloud to Testing, Validation, and Mass Manufacturing. Logo: View original content:

Mexican Banks Targeted by Trump Sold to Continue Operations
Mexican Banks Targeted by Trump Sold to Continue Operations

Bloomberg

time14 minutes ago

  • Bloomberg

Mexican Banks Targeted by Trump Sold to Continue Operations

Two Mexican banks targeted by the administration of US President Donald Trump for potentially aiding money laundering by drug cartels have sold significant parts of their operations, the government said on Tuesday. CIBanco SA will transfer its trustee business to Banco Multiva SA while Kapital Bank will acquire a 'significant' part of Intercam Grupo Financiero's operations, the finance ministry said in a statement.

Asia Morning Briefing: Market Observers Say Bitcoin's Structure Looks Weak Even as Industry Strengthens
Asia Morning Briefing: Market Observers Say Bitcoin's Structure Looks Weak Even as Industry Strengthens

Yahoo

time15 minutes ago

  • Yahoo

Asia Morning Briefing: Market Observers Say Bitcoin's Structure Looks Weak Even as Industry Strengthens

Good Morning, Asia. Here's what's making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas. As Asia begins its trading day, BTC is down 3% in the past 24 hours, changing hands at $113,000, while Ether is also in the red, down 5.6% to $4,100, extending a week of weakness across majors. The pullback comes despite a continued stream of bullish headlines, underscoring what market observers say is a widening gap between short-term price action and longer-term structural progress. In a recent report, Glassnode frames the decline as a function of fragility: spot momentum is fading, leverage is stretched, and profit-taking pressure is building. Even though U.S.-listed spot ETFs attracted nearly $900 million in inflows last week, Glassnode warns that without renewed conviction in spot markets, positioning remains vulnerable to deeper deleveraging. However, this view is not universal. Enflux, a Singapore-based market maker, by contrast, argued in a recent note shared with CoinDesk that the industry is maturing faster than prices suggest. Weak price action is a short-term disconnect, and traders aren't focusing on the more important headlines: Google becoming the largest shareholder in miner TeraWulf, Wyoming launching a state-backed stablecoin, and Tether hiring a former White House crypto policy official. These shifts, they argue, show capital and talent aligning around a regulatory-aligned, institutional future. The divergence in tone is telling. One camp sees fragile positioning and fading momentum; the other sees scaffolding being laid for an institutional, regulatory-aligned cycle. Prices may look unimpressed, but the industry's trajectory suggests the market is maturing faster than charts imply. Market Movers BTC: Bitcoin fell 3.2% to below $114,000 as cryptocurrencies and related stocks extended losses ahead of the Fed's FOMC minutes and Powell's Jackson Hole speech later this week. ETH: Ether fell 3.5% to under $4,200 as investors reconsider the likelihood of a September Fed rate cut, with Bank of America economists warning Powell may argue for holding rates amid sticky inflation and tariff pressures. Gold: Gold edged up to $3,384.70 and silver to $38.115 in quiet trading as markets await Powell's Jackson Hole speech Friday on the Fed's policy outlook, while global stocks were mixed and China's central bank injected $65 billion to steady bonds. Nikkei 225: Japan's Nikkei slipped 1.14% to 43,050.89, retreating from record highs as investors weigh risks tied to a fragile U.S. trade deal. S&P 500: U.S. stock futures were little changed Tuesday night, with the S&P 500 flat, Dow steady, and Nasdaq 100 down 0.2%, as investors awaited major retail earnings and Fed meeting minutes. Elsewhere in Crypto Bullish's $1.15B in IPO Proceeds Was Entirely in Stablecoins—A First for Public Market (CoinDesk) Who Needs 280 Bitcoin Domain Names? Massive BTC Bundle Goes Up for Auction (Decrypt) Robinhood launching sports betting prediction markets on NFL and NCAA football via Kalshi partnership (The Block) Sign in to access your portfolio

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store