Saudi foreign reserves "to reach $595bn by 2011", plans to launch SWF this year
Posted by Editor on July 01, 2008 at 08:55 PM
Bloomberg reports that, “Saudi Arabia’s foreign reserves will increase 65 per cent to $595 billion by the end of 2010 on record fiscal surpluses, EFG-Hermes Holding SAE said.”
The article adds that, “Saudi Arabia plans to start a sovereign wealth fund with $5.3 billion this year, to be managed by The Saudi General Investment Fund.”
Temasek arm to offer Mideast funds to Asian investors
Posted by Editor on March 06, 2008 at 05:50 AM
Reuters reports that, “Fullerton Fund Management, the fund management arm of Singapore state investor Temasek Holdings, said on Thursday it will market funds invested in the Middle East and North Africa to investors in Asia. The funds will be managed by EFG-Hermes Asset Management, a firm with offices in Egypt, the United Arab Emirates, Qatar and Saudi Arabia.”
Gulf investments to jump as economies grow, EFG forecasts
Posted by Editor on January 07, 2008 at 07:06 AM
Bloomberg writes that, “The economies of the six Gulf Cooperation Council states will expand at a faster rate in 2008 than last year, giving their governments bigger surpluses to spend on overseas investments, EFG-Hermes Holding SAE forecast.”