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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

Dubai Investments posts $16.7mln Q4 loss

Posted on 31 January 2012

Conglomerate Dubai Investments, whose manufacturing business was hit by political unrest in Libya and Syria last year, swung to a quarterly loss on Monday, hurt by lower asset valuations.
The firm, in which sovereign fund Investment Corporation of Dubai (ICD) owns an 11.5 percent stake, had a fourth quarter loss of AED61.4m ($16.72m), according to Reuters calculation. That compared with profit of AED117.4m in the prior-year period in 2010………………………………………..Full Article: Source


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