Business & Money | Friday 26 October, 2018 6:33 am |

Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF) is to join forces with Russian sovereign wealth fund RDIF as a new partner in the joint Russia-China Invesment Fund, it was announced on Thursday.

As part of the agreement, Saudi’s PIF will contribute $500 million to the investment fund, raising its total capital under management to $2.5 billion, Russia’s RDIF added in a statement.