ISTANBUL: Turkish President Tayyip Erdogan on Friday blamed the United States for what he called a “heinous economic attack” that has sent the lira tumbling some 40 percent this year.
At a speech to officials from his AK Party in Ankara, Erdogan also said Turkey would see the result of the central bank’s independence after its substantial rate increase a day earlier. On Thursday the central bank lifted its benchmark rate by 6.25 percentage points.
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Erdogan says US behind economic attack on Turkey
Erdogan says US behind economic attack on Turkey
Saudi public investment fund assets rise 36% to$58bn in Q3
RIYADH: Assets held by public investment funds in Saudi Arabia rose 36 percent from a year earlier to about SR217.9 billion ($58.1 billion) by the end of the third quarter of 2025, driven by strong growth in domestic investments, official data showed.
Asset values also rose 5.7 percent from the previous quarter, according to data from the Capital Market Authority cited by the Saudi Press Agency.
Saudi Arabia’s stock exchange has seen strong growth in recent years, attracting increased investor interest in fixed-income instruments amid a global environment of elevated interest rates.
According to SPA, the number of subscribers to public investment funds reached 1.59 million by the end of the third quarter, representing an annual increase of 1.5 percent.
The growth in public investment fund assets was driven by a 39 percent year-on-year rise in assets of local funds, which reached SR186.9 billion in the third quarter of 2025 and accounted for 86 percent of total assets.
Meanwhile, assets of foreign funds rose to SR31.1 billion, reflecting annual growth of 21 percent.
The number of public investment funds in the Kingdom increased 11.6 percent year on year to 346, up from 310 in the third quarter of 2024.
Public investment fund assets were distributed across a range of investment types, including equities, bonds, cash instruments, real estate investments, and other assets.
Local money market funds held the largest share of assets at SR75.6 billion, followed by local equities at SR46.6 billion, real estate investment funds at SR28.9 billion, and funds invested in other local assets at SR19.6 billion.
To further strengthen the capital market ecosystem, the Kingdom announced earlier this month that it would open its financial markets to all foreign investors.
The measures introduced by the Capital Market Authority include the removal of restrictions such as the Qualified Foreign Investor framework, which required a minimum of $500 million in assets under management, as well as the abolition of swap agreements.
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