- City Fajr Shuruq Duhr Asr Magrib Isha
- Dubai 04:09 05:31 12:18 15:42 19:00 20:22
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The Kuwait Investment Authority (KIA), which manages the Gulf Arab state's reserves, has investments of up to $1.7 billion in Turkey, the country's envoy to Ankara said in remarks published on Thursday. Al Qabas newspaper said Abdullah Al Duweikh gave the figure on the sidelines of the visit of a high-level delegation to Turkey without giving further details. KIA officials could not immediately be reached for comment. Duweikh added that Kuwaiti investors were eyeing opportunities in privatisation projects in Turkey. Kuwaiti investments in Turkey have increased in recent years to about $4 billion, Qabas said. The KIA, which does not regularly publish figures about the size of its portfolio, had at least $213 billion in assets under management on March 31, 2006, according to official figures. Kuwait invests 10 per cent of its state revenue in a future generations fund, a nest egg for the time when its vast oil resources will dry up, which is managed by the KIA. (Reuters) |
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