GulfBase Live Support
Assets managed by Kuwait Investment Authority (KIA), one of the world’s biggest sovereign wealth funds, have grown more than 34 percent over the past five years, Finance Minister Anas al-Saleh said.
Speaking at a Euromoney conference, Saleh described the state’s reserves and assets, managed by the KIA, as representing a “safety valve” for the economy during times of crisis as well as a nest egg that would provide for future generations.
“The growth in assets achieved by the (Kuwait Investment) Authority over the past five years is more than 34 percent,” he said. He did not disclose the size of the assets.
The Sovereign Wealth Fund Institute ranks KIA as the world’s fourth-biggest sovereign fund, managing $524 billion.
A KIA statement carried out by the country’s state news agency earlier this year implied the fund had assets of about $515 billion as of March 2016.
Among KIA’s high-profile investments, it owns 6.8 percent of German automaker Daimler AG and stakes in major Kuwait-based firms such as 18.4 percent of Kuwait Finance House , according to Thomson Reuters data.
The total deposits with the banking sector reached more than 23 billion by the end of April.
A statement issued online by Oman News Agency (ONA), said:"Central Bank of Oman (CBO), indicate
Times of Oman
Qatar’s real estate market activity has seen a rebound performance that surged to record levels, backed by a significant number of property sale deals executed during the past week, as well as the nu
The abalone fishing industry in southern Oman – an important source of livelihood for traditional fishing communities distributed along the coast of Dhofar Governorate – is set for a big boost with a
Oman Daily Observer
An array of Omani agencies spanning the aviation, shipping, logistics, customs and regulatory sectors are working in concert to achieving a trebling of the Sultanate’s airfreight volumes to around 70
Oman Daily Observer
The United Arab Emirates and the United States held their seventh Economic Policy Dialogue via videoconference on June 18. The dialogue was co-chaired by the UAE Ministry of Foreign Affairs and Inter
The Gulf Today