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 5 2015 - Emaar Misr to add USD2.26b to market capitalizationMENAFN
(MENAFN) Emaar Misr will add USD2.26 million to the market capitalization after being listed over the Cairo bourse, according to the bourse chief, Amwal Alghad reported.The affiliate of the United ...

 Jul 5 2015 - Saudi Looks for 'Guinness' Record with 50,000 Coins MuralSaudi Press Agency
(MENAFN - Saudi Press Agency) A Saudi citizen seeks to set a Guinness Record with drawing the largest painting mural in the world with more than 50,000 coins, in support of his talent initiated since ...

 Jul 5 2015 - PM: Jordan is a stable country with well-defended bordersJordan News Agency
(MENAFN - Jordan News Agency) Prime Minister Abdullah Ensour said Jordan is a stable country, owing its security to the wisdom of its leadership and its people's awareness, which are its source of ...

 Jul 5 2015 - Jordan- Moderate weather forecast until TuesdayJordan News Agency
(MENAFN - Jordan News Agency) The weather will be moderate until Tuesday in the hilly areas while it will be relatively hot to hot in the Badia, the Jordan Valley and Aqaba with high clouds and ...

 Jul 5 2015 - Israeli forces arrest 9 PalestiniansJordan News Agency
(MENAFN - Jordan News Agency) Israeli occupation troops arrested 9 Palestinians in the occupied West Bank, the Palestinian Interior Ministry said in a statement Sunday.The occupation forces broke ...

 Jul 5 2015 - Jordan- Border guards receive 275 new Syrian refugeesJordan News Agency
(MENAFN - Jordan News Agency) A total of 275 Syrian refugees from various age groups, entered the Kingdom through various crossing points during the past 72 hours.The border guards provided the ...

 Jul 5 2015 - Kuwait- His Highness the Amir cables President of Venezuela on nat'l dayKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah sent on Sunday to the President of Venezuela Nicolas Maduro a cable of congratulation on the ...

 Jul 5 2015 - Kuwait- Message from His Highness the Amir delivered to Nicaraguan PresidentKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The State of Kuwait's non-resident ambassador to Nicaragua, Samih Johar Hayat, has delivered a message from His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber ...

 Jul 5 2015 - Kuwait- His Highness the Amir cables President of Cape Verde on nat'l dayKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah sent on Sunday to the President of Cape Verde Jorge Carlos Fonseca a cable of congratulation on the ...

 Jul 5 2015 - Terrorism main topic of Arab Parliament's urgent meetingKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Arab Parliament (AP) held an urgent meeting here Sunday which focused on the recent terrorist attacks that hit a number of Arab countries.A press release by ...

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