Business | Investment

Kuwait to boost Asia investments

Kuwait, a major Opec producer benefiting from record oil prices, is considering boosting investments in Asia, particularly China and India, its finance minister said in remarks published on Saturday.

  • Reuters
  • Published: 23:17 July 12, 2008
  • Gulf News

Kuwait City: Kuwait, a major Opec producer benefiting from record oil prices, is considering boosting investments in Asia, particularly China and India, its finance minister said in remarks published on Saturday.

"The government is turning to enter new investment markets in Asia, China and India," the daily Al Watan quoted Mustapha Al Shamali as saying.

He added Kuwait would open investment offices based on studies by its sovereign wealth fund Kuwait Investment Authority (KIA), which is managing the Gulf state's assets.

KIA had 70.21 billion dinars ($264.6 billion) under management at the end of March, local media and parliamentary sources said last month.

Kuwait posted a budget surplus of 11.44 billion dinars last fiscal on higher-than-expected oil revenues.

  • Rate this article
  • Average reader rating (0 votes) 0 Stars
Tools

Emailing an article to friend is a simple way to share a news item. Your friend will receive an email with your name and email address as well any personal message you choose to send.

The information you provide on this page will not be used to send unsolicited emails.

This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.

Share this article

More from Investment

  1. Sarasin goes long on equities

  2. Russia a better bet for investors than China

  3. Great expectations need reality check

  4. Diamonds strive to make the cut

All articles in Investment

More from Business

Gulf News
Popular in Business
Airlines in the region
Budget travel

Airlines in the region

Take a pictorial look at some of the budget airlines in GCC

Business Editor's choice