Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait- GIC chief participates in ABANA Summit panel discussions  Join our daily free Newsletter

MENAFN - Kuwait News Agency (KUNA) - 16/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Kuwait News Agency (KUNA)) Shafic Ali, head of the Principal Investments Group at Gulf Investment Corporation (GIC) late Tuesday participated in a panel discussion on (Emerging Trends in Global Infrastructure Investing) organised by the Arab Bankers Association of North America (ABANA) during its 2014 Summit

Other participants in the discussions of this topic included Ahmad Atwan, Senior Portfolio Manager, Global Infrastructure Fund, Morgan Stanley; and Amr M. Nosseir, Founding Partner, Perella Weinberg Partners

Ali told KUNA following the discussions that the private power projects in Gulf Cooperation Council (GCC) have been "very successful. Large numbers of the projects have been built, many of them with active participation by Gulf developers or investors or public institutions." This success, he explained, "is evidenced by being built in very short time periods, of having solid financial track records, a high degree of reliability, and attracting foreign investors into the region." Asked to comment on Atwan's mention that the US will be the world's biggest oil and gas producer in 2020 and if Gulf countries are concerned about that, Ali said the demand on oil and gas in Asia is growing, and Asia is becoming an important destination of Gulf oil and gas

People think this will weaken the US-GCC relationship, he said. "That is not true. Their relationship is based on more than oil and gas interests. There are also geo-political interests involved." Ali is responsible for a portfolio of over 30 equity investments with a book value of about USD 2.7 billion and much bigger market value

These investments cover a range of sectors, including power generation, water desalination, telecommunication, financial services, steelmaking and chemicals, with a total asset base of over USD 30 billion

Kuwait-based GIC is a financial institution wholly and equally owned by the six GCC countries. It acts on a purely commercial basis, despite its status as a multilateral development institution

At the ABANA Summit, other participants took part in a second panel that tackled (The Middle East and North Africa: Macroeconomic and geopolitical Outlook) with an emphasis on the countries that went through the Arab Spring. Others participated in a third panel that dealt with (Investing in the MENA Region's Entrepreneurs)

ABANA has long served as a forum for discussions that enhance the understanding of business and capital flows between the US and the Middle East region. Its annual Summits represent opportunities that bring together a group of thinkers who are deeply engaged in the region's business and economic developments

 


Kuwait News Agency (KUNA)




  MENA News Headlines
 Jul 6 2015 - Accidental bombing kills seven in BaghdadKhaleej Times
(MENAFN - Khaleej Times) At least seven people were killed on Monday when a warplane mistakenly dropped a bomb on a residential area in Iraq's capital Baghdad, police said.The Iraqi plane dropped the ...

 Jul 6 2015 - Jordan says it has foiled Iran-backed bomb attackKhaleej Times
(MENAFN - Khaleej Times) Jordanian authorities have foiled a "terrorist" attack and arrested an Iraqi man in possession of explosives said to have come from Iran's Revolutionary Guards, a judicial ...

 Jul 6 2015 - UAE- Engineer booked for molesting 2 cleanersKhaleej Times
(MENAFN - Khaleej Times) An engineer faced two counts of molestation for allegedly sexually harassing two female cleaners at his place on March 12.The 23-year-old Egyptian's behaviour took the women ...

 Jul 6 2015 - Dubai-based health care group to rebuild 500 houses in NepalKhaleej Times
(MENAFN - Khaleej Times) The charitable arm of one of the leading health care groups in the UAE, Aster DM Foundation, has donated Dh1.4million to rebuild 500 houses in the quake-hit Nepal.Dr Azad ...

 Jul 6 2015 - UAE's electoral base for FNC polls gets 66% widerKhaleej Times
(MENAFN - Khaleej Times) The National Election Committee (NEC) during its 12th meeting, held in Abu Dhabi on Sunday, has adopted the electoral college for the Federal National Council (FNC) Elections ...

 Jul 6 2015 - UAE- Three face attempted murder charges over road rage, sword attackKhaleej Times
(MENAFN - Khaleej Times) Three Emiratis stood trial in a Dubai court over an alleged case of road rage that ended in a sword attack.Two jobless men, and an accomplice who is still at large, faced ...

 Jul 6 2015 - UAE- Dana Gas at 7-month high after Kurdish ruling boostKhaleej Times
(MENAFN - Khaleej Times) Dana Gas shares jumped on Sunday to the highest level in seven months following a favourable court ruling in an arbitration case in London.The Abu Dhabi-listed firm's stock ...

 Jul 6 2015 - Tourism Authority of Thailand launches mobile app for Muslim visitorsKhaleej Times
(MENAFN - Khaleej Times) The Tourism Authority of Thailand, or TAT, has launched its first smartphone application designed specifically to make it easier for the growing number of Muslim visitors to ...

 Jul 6 2015 - UAE- Cityscape Global sees 30 per cent growth in exhibition spaceKhaleej Times
(MENAFN - Khaleej Times) The continued confidence in Dubai's maturing real estate market has been underlined by a 30 per cent increase in exhibitors at the Middle East's largest property showcase, ...

 Jul 6 2015 - GCC mobile market to grow 29% by 2019Khaleej Times
(MENAFN - Khaleej Times) Dubai: The GCC's mobile connected devices market is expected to increase by around 29 per cent to 45 million units by 2019 compared to 35 million units in 2015, according to ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help