07.10.2008 - Middle East SWFs could come to credit squeeze rescue
From Thenational.ae: With an international credit squeeze threatening companies, infrastructure projects and financial markets, GCC governments are coming under pressure to tap their vast oil-revenue savings to avert problems. Sovereign wealth funds (SWFs), which manage much of the region’s excess oil income, are drawing increasing attention as potential new sources of loans and investment. The GCC countries hold an estimated $US1.5 trillion (Dh5.5tn) in assets in investment funds, according to the Peterson Institute for International Economics, a Washington-based think tank. ..... Full Article: Source