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
 Mar 3 2015 - Cruise liner traffic bound for Abu Dhabi to grow 25 percentMENAFN
(MENAFN) An increase of 25 percent in cruise liners calling at Zayed Port will help to lift the number of cruise tourists by 50 percent this season, The National reported.This season above 94 vessels ...

 Mar 3 2015 - UAE non-oil business growth declines in FebruaryMENAFN
(MENAFN) Business activity growth in the UAE non-oil private sector decreased to a five-month low in February but remained strong and above the average for 2014, a corporate survey showed, The ...

 Mar 3 2015 - Kuwait Fund grants USD23.8m to irrigation project in Lao RepublicMENAFN
(MENAFN) Kuwait Fund for Arab Economic Development (KFAED) has signed a loan agreement in the city of Vientiane with the Democratic Republic of Lao, whereby the Kuwait Fund will offer the government ...

 Mar 3 2015 - Bahrain to launch USD22b development projectsMENAFN
(MENAFN) The government of Bahrain will be carrying out giant development projects with a value exceeding USD22 billion, Minister of Information said, KUNA reported.Bahrain is continuing with its ...

 Mar 3 2015 - KFAED finances USD13.47m loan to BelizeMENAFN
(MENAFN) Kuwait Fund for Arab Economic Development (KFAED) provided a USD 13.47 million loan to Belize to help in a road restoration project, a statement by the fund showed, KUNA reported.The ...

 Mar 3 2015 - FDI in Qatar posts USD30.65bMENAFN
(MENAFN) Foreign direct investments (FDI) inflow to Qatar registered USD30.65 billion at the end of 2012, a 1.2 percent growth from a year ago. Though the FDI has targeted various economic activities ...

 Mar 3 2015 - Oman's Raeco to invest USD395.75m for power expansionsMENAFN
(MENAFN) A total of USD395.75 million will be invested by Rural Areas Electricity Company (Raeco) in the next three years to raise the power generation capacity, transmission lines and distribution ...

 Mar 3 2015 - Kuwait Investment to cut US investmentMENAFN
(MENAFN) The Kuwait Investment Office (KIO), the London branch office of sovereign wealth fund Kuwait Investment Authority, is gradually reducing its overweight stance on US assets after keeping that ...

 Mar 3 2015 - Oman's NDC hits sales revenue of USD60.47m in 2014MENAFN
(MENAFN) National Detergent Co. (NDC), one of the leading FMCG companies in the sultanate, has posted total sales revenue of USD60.47 million for full-year 2014, compared with USD56.13 million a year ...

 Mar 3 2015 - 100 per cent rise in FDI expected this yearKhaleej Times
(MENAFN - Khaleej Times) Egypt expects 100 per cent increase in foreign direct investment, or FDI, during the current fiscal year compared to last year, Investment Minister Ashraf Salman said on ...

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