The government has given nod to the Oman Investment Fund (OIF), the Sultanate of Oman’s sovereign wealth fund, to buy five per cent stake in the UCX, a national level commodity exchange in the country.
“A week back, we received the Foreign Investment Promotion Board’s (FIPB) approval to induct QIF’s arm, Funderburk 2 Mauritius as a foreign investor in the UCX,”the exchange’s promoter Ketan Sheth told PTI. Funderburk 2 Mauritius has bought five per cent stake in the exchange for Rs 13.75 crore, he said………………………………………..Full Article: Source