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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Investment, Market

KIA to invest in Asia and Latin America markets

Posted on 04 February 2010

From Alwatan.com.kw: Kuwait government has approved a plan to invest in financial and banking services in markets, which are expected to achieve economic growth by 10 percent in Asia and Latin America. Reliable sources have stated that the government expects that Kuwait Investment Authority (KIA) and Bank of America to achieve profits by 35 percent in exiting from investment.
It is worth mentioning that the KIA has already sold its share in Citigroup achieving profits worth 1.1 billion US dollars, equivalent to 36.7 percent of the revenues of invested capital……………………………………Full Article: Source

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