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Nvidia Delivers Solid Earnings Despite China Hit

Nvidia Delivers Solid Earnings Despite China Hit

Bloomberga day ago

Bloomberg's Ed Ludlow is joined by Nvidia CEO Jensen Huang to discuss the chipmaker's first-quarter earnings and the company's $8 billion hit from China. Plus Ayako Yoshioka, from Wealth Enhancement Group says earnings show Nvidia understands the outlook for AI growth. And D.A. Davidson Managing Director Gil Luria also explains what he wants to hear from Nvidia next as it competes with Chinese rivals. (Source: Bloomberg)

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Exclusive-India to exempt Saudi fund from foreign portfolio investment rules, sources say
Exclusive-India to exempt Saudi fund from foreign portfolio investment rules, sources say

Yahoo

time32 minutes ago

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Exclusive-India to exempt Saudi fund from foreign portfolio investment rules, sources say

By Shubham Batra NEW DELHIMay 30 (Reuters) -India has agreed to exempt Saudi Arabia's sovereign wealth fund from a set of foreign portfolio investment rules to attract capital flows and strengthen financial ties between the two nations, two sources said. The rules, which club investments through various sovereign entities together and cap it at 10% in a single company, have prevented different subsidiaries of the Public Investment Fund from investing more in India, they said. Indian Prime Minister Narendra Modi visited the Gulf nation in April, when both the countries agreed to promote investment in areas including energy, infrastructure and pharmaceuticals. India is also negotiating a bilateral investment treaty with Saudi Arabia. The requirement to club investment from different sovereign entities together limits the ability of the Saudi fund and its subsidiaries to invest independently, the first source said, declining to be identified as they were not authorised to speak to the media. The exemption granted to the fund will allow its various arms to invest separately, enhancing their flexibility in deploying capital into Indian equity markets without breaching regulatory thresholds, he said. The Finance Ministry and the Saudi fund did not respond to requests for comment. The Public Investment Fund is one of the largest sovereign wealth funds globally with assets of about $925 billion under management. Its current exposure in India remains limited to $1.5 billion in Jio Platforms and $1.3 billion in Reliance Retail, according to its website. India, the world's third-largest oil importer, is looking to draw long-term capital from energy-rich Gulf nations, while Saudi Arabia is seeking to expand its investments in fast-growing economies as part of its Vision 2030 diversification strategy. To achieve these goals, both the nations formed a high-level task force in 2024 to expedite Riyadh's plan to invest $100 billion in India. "The progress made by this Task Force in areas such as taxation was also a major breakthrough for greater cooperation in the future," a joint statement said in April. "The two sides affirmed their desire to complete negotiations on the BIT at the earliest." Recent media reports indicated the government is also exploring tax relief measures for the Public Investment Fund to support India's infrastructure and energy sectors. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

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