| Strong oil prices along with high output boosted the assets of the UAE’s sovereign wealth funds (SWFs) to all time high of around $451 billion at the end of 2012, according to a key Western financial group. The country’s oil export earnings also soared to their highest level of more than $124 billion, pushing its current account balance to a new peak.
Figures by the Washington-based Institute for International Finance (IIF) showed the assets of the Abu Dhabi Investment Authority (ADIA) and other SWFs in the second largest Arab economy gained nearly $25 billion in 2012 to end the year at $451 billion...............................................Full Article: Source
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