Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
 | 
Last updated 0 minute ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
HOME LOCAL MIDEAST ASIA WORLD BUSINESS SPORT OPINION WRITERS
UAE’s sovereign wealth funds seen at $975 billion
By NABIG NOORUL HUDA May 17, 2014
 Print    Send to Friend

DUBAI: The volume of syndicated assets of the UAE sovereign wealth funds (SWF) touched $975 billion by the end of last April.

By this, the UAE is the second richest country in the world in terms of the value of assets of sovereign wealth, according to the latest releases by the Washington-based Sovereign Wealth Fund Institute.

Abu Dhabi Investment Authority (ADIA) also maintained its position as the world’s second largest sovereign wealth fund with assets of $773 billion. Across the UAE, the Investment Corporation of Dubai ranked second with assets estimated at $70 billion, followed successively by the International Petroleum Investment Company (IPIC) with $65.3 billion, Mubadala Development Company with $55.5 billion, Emirates Investment Authority with 10 billion and RAK Investment Authority with $1.2 billion.

As far as regional rankings are concerned, the institute’s data showed that Saudi Arabia came second in the Arab world after the UAE through its SAMA Foreign Holdings, whose assets stood at $676 billion, coming third worldwide. SAMA Foreign Holdings was followed by Kuwait Investment Authority with $410 billion, Qatar with $170 billion, Algeria with $77.2 billion, Libya with $66 billion, Oman with $8.2 billion and Bahrain with $7.1 billion.

Globally, China topped the list as the largest country in the world in terms of sovereign wealth funds with $1.309 trillion, followed by the UAE with $975 billion as mentioned before. Norway came third with $838 billion, followed by Saudi Arabia’s SAMA Foreign Holdings with $676 billion and Singapore with $493 billion.
 

Add this page to your favorite Social Bookmarking websites
Comments
 
Post a comment
 
Name:
Country:
City:
Email:
Comment:
 
    
    
Related Stories
UAE and Egypt indices rise on earnings
DUBAI: Stock markets in the United Arab Emirates and Egypt rose on Thursday on the back of strong second-quarter earnings at banks and expectations for similar performanc..
UAE markets up on strong Q2 earnings
DUBAI: Stock markets in the United Arab Emirates rose on Sunday on the back of some strong second-quarter earnings reports and expectations for more of them, while Qatar ..
Pakistan appoints DIB as adviser for PIA privatisation
Dubai: The government of Pakistan has appointed the consortium headed by Dubai Islamic Bank (DIB) as the Financial Advisor on the Restructuring of Pakistan International ..
UAE economy to grow 4.4% from 2014-18
DUBAI: The UAE economy is expected to register an annual growth of 4.4 per cent between 2014 and 2018, according to a recent report by the Economist Intelligence Unit. ..
UAE, Italy non-oil trade crosses $6 billion mark
Dubai: In 2013, non-oil trade between the UAE and Italy surpassed $6 billion. A total of 92 Italian companies, as well as 390 trade agencies and over 4,387 trademarks are..
 
FRONTPAGE
 
GALLERY
 
PANORAMA
 
TIME OUT
 
SPORT
 
 
Advertise | Copyright