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Pandemic puts pressure on Gulf States sovereign wealth funds

Pandemic puts pressure on Gulf States sovereign wealth funds

Sovereign wealth funds in the Gulf countries are facing unprecedented challenges due to the rise of deficit and pressure to increase financial obligations to their public budgets. The drop in crude oil prices, caused by the pandemic last year, forced Gulf countries to increase their borrowing and thereby withdraw from their sovereign wealth funds.
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Azerbaijan to spend $59 billion to rehabilitate territories, but development also requires peace

Azerbaijan to spend $59 billion to rehabilitate territories, but development also requires peace

Azerbaijan plans to spend up to $59 billion over the next ten years to rehabilitate the territories it has recently taken back after being for decades under Armenian control. It is a huge sum even for an oil rich country, but for President Ilham Aliyev developing the new territories now has become the primary mission of his presidency.

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Russia Calling!

Russia Calling!

President Putin has inaugurated the 7th Annual Investment Forum of VTB Capital "Russia Calling!" It is being held in Moscow on October 13-14. It was first held in 2009.