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
 Aug 3 2015 - GBM Gold pours first gold at Victorian projectProactiveInvestors - Australia
(MENAFN - ProactiveInvestors) GBM Gold (ASX:GBM) has poured first gold mined from its Victorian gold open pit near Dunolly from 2700 tonnes of ore. The ore was processed at the A1 gold processing ...

 Aug 3 2015 - Mobily Q2 net loss hits nearly USD215mMENAFN
(MENAFN) Saudi Etihad Etisalat (Mobily), suffered a net loss of USD215 million during the second quarter of this year as a result of dispute with Zain.The company Exposed to loss in the second ...

 Aug 3 2015 - Dubai spent USD46.2m for water transmission networksMENAFN
(MENAFN) Dubai Electricity and Water Authority (DEWA), launched major water transmission networks with a length of 25km. This project matches Dubai Plan 2021, which pursues economic development, ...

 Aug 3 2015 - GCC Foreign Ministers hold coordination meeting in DohaSaudi Press Agency
(MENAFN - Saudi Press Agency) Foreign Ministers of the countries of the Gulf Cooperation Council held here on Sunday evening a coordination meeting ahead of their joint meeting with US Secretary of ...

 Aug 3 2015 - Saudi Arabian Football Federation holds its regular meetingSaudi Press Agency
(MENAFN - Saudi Press Agency) The board of directors of the Saudi Arabian Football Federation held its regular meeting here on Sunday.During the meeting, the board discussed topics on the agenda and ...

 Aug 3 2015 - Abu Dhabi's Agthia net profit up 20 percent in H1MENAFN
(MENAFN) Food and beverage company Agthia Group net profit for the first half of 2015 rose 20 percent to USD34 million from the same period last year, driven by higher sales and improved margins.The ...

 Aug 3 2015 - Syrian jet crashes into market, 12 killedSaudi Press Agency
(MENAFN - Saudi Press Agency) At least 12 people were killed when a Syrian army fighter jet crashed into a busy marketplace in the opposition-held northwestern town of Ariha on Monday, a monitor ...

 Aug 3 2015 - Qatar's Emir Receives GCC Foreign MinistersSaudi Press Agency
(MENAFN - Saudi Press Agency) Sheikh Tamim bin Hamad Al Thani, Emir of the State of Qatar, received today the Gulf Cooperation Council (GCC) for Arab States' foreign ministers, currently on a visit ...

 Aug 3 2015 - US State Secretary Arrives in DohaQatar News Agency
(MENAFN - QNA) US Secretary of State John Kerry arrives in Doha on Sunday night to take part in a joint meeting with Their Excellencies the Foreign Ministers of the Gulf Cooperation Council (GCC) ...

 Aug 3 2015 - Russian Foreign Minister Arrives in DohaQatar News Agency
(MENAFN - QNA) Russian Foreign Minister Sergei Lavrov arrived in Doha on Sunday night on a visit to the State of Qatar. The Foreign Minister and his accompanying delegation were welcomed upon ...

more...


 






Google

Click to Apply

 
 

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