Iran will withdraw up to $4.8 billion from its sovereign wealth fund to spend on developing its oil and gas fields next fiscal year under a proposal approved by parliament.
The decision to dip into the National Development Fund un
Saudi Arabia is preparing to launch its first sovereign wealth fund to manage budget surpluses from a rise in crude prices estimated at hundreds of billions of dollars, said a media report.
The central bank has managed investment
Qatar's sovereign wealth fund the Qatar Investment Authority is allocating $2 billion to Russia via joint investments with state-backed private equity fund the Russian Direct Investment Fund (RDIF), Kirill Dmitriev, the chief executive of Ru
Libya's sovereign wealth fund has filed a $1.5 billion lawsuit against Societe Generale, accusing it of funnelling bribes worth tens of millions of dollars to associates of Saif al-Islam, the son of former Libyan leader Muammar Gaddafi.
Kuwait’s sovereign wealth fund will invest 500 million euros ($676 million) in Italian companies in co-ordination with Italy’s own strategic investment fund.
The deal follows similar agreements with Qatar’s inves
The finances of Bahrain's sovereign wealth fund Mumtalakat are improving, allowing it to look for new investments more agressively this year, its chief executive said.
With $7.1 billion of assets under management at the end of
Saudi Arabia ranks top in the volume of assets of sovereign wealth funds (SWFs) among the GCC countries at $641 billion, a report said quoting Moody’s Investors Service.
The kingdom is followed by the Uni
Abu Dhabi Investment Authority (ADIA) plans to invest about $200 million in Indian real estate, two sources said, underscoring a trend for large Gulf sovereign wealth funds to diversify away from traditional developed markets such as Europe.
Bahrain Mumtalakat Holding Company, the investment arm of Bahrain, has appointed Zulfe Ali as its new chief operating officer.
Ali joined Mumtalakat in June 2009 as vice president corporate finance. His r