Latest news with #sovereignwealthfund
Reuters
14 hours ago
- Business
- Reuters
Egypt's growth outlook improves slightly as reforms take root: Reuters poll
CAIRO, July 29 (Reuters) - Egypt's economy likely grew 4.0% in the fiscal year that ended in June, a slight upward revision from the 3.8% forecast in April, a Reuters poll showed, as reforms tied to IMF financing and stronger manufacturing activity support a gradual recovery. Growth in gross domestic product was projected to accelerate to 4.6% this fiscal year, according to the median estimate of 13 economists surveyed July 15-28. The Arab world's most populous country has been struggling with the aftermath of a sharp currency devaluation, soaring inflation and the economic fallout from the war in Gaza. Growth slumped to 2.4% in 2023/24 but the government has since accelerated economic reforms under an $8 billion programme with the International Monetary Fund and secured $24 billion in investment from the United Arab Emirates' sovereign wealth fund, including a major land deal on the Mediterranean coast. Inflation, which peaked at a record 38% in September 2023, has begun to ease but remains high. Egypt's annual urban consumer price inflation slowed to 14.9% in June from 16.8% in May. Economists expect average headline inflation to moderate to 12.5% in 2025/26, 9.5% in 2026/27, and 7.3% in 2027/28 - still above the central bank's target of between 5% and 9% on average by Q4 2026. Under its IMF-backed reform agenda, Egypt has pledged to phase out energy subsidies, particularly on fuel - although this could keep inflationary pressures elevated in the near term. The Egyptian pound, which was floated in March 2024 after being fixed at around 30.85 to the dollar for over a year, is expected to weaken further. The currency is projected to fall to 51.1 per dollar by the end of June 2026 and 52.9 by June 2027. It currently trades at around 48.6 on the interbank market. Interest rates are also expected to ease gradually, the poll found. The Central Bank of Egypt's overnight lending rate, now at 25.0%, is forecast to decline to 17.5% by end-2025/26 and to 13.0% the following year. The central bank cut its benchmark rate by a cumulative 325 basis points in April and May, citing slowing inflation and improved foreign exchange liquidity. However, in July, policymakers signalled a more cautious stance as oil price volatility, driven by supply-side risks and global demand uncertainty, prompted a "wait-and-see" approach to the monetary easing cycle. (Other stories from the Reuters global economic poll)
Gulf Business
19 hours ago
- Business
- Gulf Business
PIF tops the world: Saudi's sovereign fund declared most valuable brand
Image courtesy: PIF The Public Investment Fund (PIF) has once again been named the world's most valuable sovereign wealth fund (SWF) brand, according to the latest rankings by Brand Finance, a leading independent brand valuation consultancy. In its 2025 edition of The Asset Management and Sovereign Wealth Fund 50, released on July 28, Brand Finance valued PIF's brand at $1.2bn, an 11 per cent increase from 2024. This marks the second consecutive year PIF has claimed the top spot globally, Read- With an A+ brand strength rating and a brand strength index score of 62.9 out of 100, up from the previous year, PIF continues to outperform global peers in both reputation and performance. Its brand strength surpasses the average for SWFs worldwide, reinforcing its leadership in the sector. Sports partnerships fuel visibility PIF was the only SWF to appear in the top 10 rankings for brand value to assets under management (AuM) ratio, placing seventh among all asset management and SWF brands. The fund's AuM has seen strong growth, attributed to robust returns from key portfolio companies and long-term investments nearing maturity. Brand Finance highlighted PIF's expanding portfolio of high-profile sports sponsorships, including partnerships with ATP and WTA tennis, Formula E, Extreme E, and ownership of LIV Golf, as key drivers of its brand value. These initiatives fall under the fund's E360 sports investment platform. 'Formula 1 and football are powerful ways for sovereign wealth funds to elevate their global profile,' said David Haigh, chairman and CEO of Brand Finance. 'PIF's investments continue to enhance awareness and strengthen its international reputation.'
Zawya
20 hours ago
- Business
- Zawya
PIF ranks as world's most valuable and fastest-growing sovereign wealth brand in 2025
RIYADH — The Public Investment Fund (PIF) has been ranked as the world's most valuable and fastest-growing sovereign wealth fund brand for 2025, according to leading brand valuation consultancy Brand Finance. It marks the second consecutive year the Saudi sovereign wealth fund tops the global list. PIF's brand was valued at $1.2 billion this year, an 11% increase compared to 2024. The fund received an A+ brand strength rating, placing it second globally with a score of 62.9, and seventh in terms of assets under management (AUM) relative to brand value — the only sovereign fund to rank in the top ten in that category. According to Brand Finance's annual report on sovereign wealth funds and asset managers, PIF achieved the fastest brand growth rate in 2025. The report credits this momentum to PIF's expanding asset base, positive performance of Saudi portfolio companies, and the maturation of key projects. The fund's communications efforts and commitment to creating long-term impact also contributed to its brand strength. The Brand Finance ranking, launched in 2024, aims to help organizations understand the value of their brand and how it contributes to overall business performance. It evaluates brand strength based on stakeholder perceptions, financial outcomes, and non-financial benefits such as attracting investment, talent, or media attention. David Haigh, CEO of Brand Finance, said PIF exemplifies the branding power of high-impact investments, particularly in international sports. 'PIF stands out through major initiatives such as its transformation of Newcastle United into a competitive football club, as well as sponsorships in golf, tennis, and electric motor racing,' Haigh said. PIF continues to focus on achieving its strategic goals of generating sustainable returns and driving economic transformation in Saudi Arabia. It is also among the most influential global investors in shaping future economic sectors. In addition to its brand recognition, PIF ranked first globally in governance, sustainability, and resilience (GSR) performance and commitment, sharing the top spot with a 100% score among 200 sovereign investors in a 2025 report by Global SWF. The fund holds strong credit ratings, with Moody's assigning it an 'Aa3' with a stable outlook, and Fitch giving it an 'A+' rating, also with a stable outlook. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Wall Street Journal
4 days ago
- Business
- Wall Street Journal
Trump's Quest for His Own Sovereign Fund Gets $550 Billion Boost From Japan
President Trump has long wanted a U.S. sovereign-wealth fund that would give him free rein to make big investments in key sectors. Japan could help him get the next best thing. As part of a trade deal reached this week, Japan agreed to invest $550 billion in projects across strategic U.S. industries, including energy, semiconductor manufacturing and shipbuilding. The White House said Trump would have final say over where the money goes and that the U.S. would keep 90% of profits on any investments.
CNA
4 days ago
- Business
- CNA
Singapore GIC's 20-year annualised real return dips to five-year low of 3.8%
Singapore sovereign wealth fund GIC's 20-year annualised real rate of return came in at 3.8% in its latest financial year, sliding for the second consecutive time from 3.9% in the previous financial year. Still, GIC said long-term returns remain stable, with a targeted and diversified investment strategy. GIC CEO Lim Chow Kiat has described the current investment landscape as being filled with unprecedented uncertainty, shaped by shifting supply chains and AI's transformational force. Nasyrah Rohim reports.
