Christine Burke

1 month ago | bloomberg.com | Adveith Nair |Christine Burke

Yasir Al Rumayyan(Bloomberg) -- Two years after it was left nursing losses from the rapid collapse of Credit Suisse, the head of Saudi Arabia’s Public Investment Fund said it will no longer invest in Switzerland’s financial markets. Middle Eastern investors were hit particularly hard by Switzerland’s abrupt decision to bypass investor votes when UBS Group AG took over Credit Suisse in a government-backed rescue at a steep discount.

1 month ago | news.bloombergtax.com | Christine Burke

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1 month ago | bloomberg.com | Christine Burke

A Lucid Air EV in the US. (Bloomberg) -- Saudi-backed electric-vehicle maker Lucid Group Inc. said the kingdom should consider tariffs on foreign cars to boost domestic auto manufacturing and cut reliance on imports. Not doing so would “run the risk that you kill the industry in its infancy,” Interim Chief Executive Officer Marc Winterhoff said in an interview on the sidelines of the Saudi-US Investment Forum in Riyadh.

1 month ago | news.bloombergtax.com | Christine Burke

XYour Choices Regarding Cookies and IdentifiersWe and our 150 third party partners use cookies and similar technologies ("Cookies") and hashed identifiers (e.g., a hashed version of your name, email address or phone number) to help us identify you on our site and third-party sites and to process certain information, such as your IP address and digital identifiers, to analyze site usage and provide you with relevant advertisements and content.

1 month ago | bloomberg.com | Christine Burke

(Bloomberg) -- A Saudi Arabia-based venture capital firm that’s backed by the family office of US billionaire Lawrence Golub is launching a $50 million fund to invest in artificial intelligence startups across the Middle East and the San Francisco Bay Area. Wyld VC plans to focus on early-stage companies, with a view toward driving deeper ties between Gulf nations and the US that can help accelerate AI development, according to founder Tala Hasan Al Jabri.