Kuwait 2nd in GCC Sovereign Funds
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KUWAIT CITY, Nov 9: Kuwait ranked second on the Sovereign Funds Institute’s list of the largest sovereign funds in the Gulf Cooperation Council (GCC) countries, with assets estimated at $708 billion – almost the same as the assets of Abu Dhabi Investment Authority estimated at $708.75 billion, reports Al-Anba daily. In this context, Arabian Business newspaper said the Kuwaiti sovereign wealth fund known as ‘Kuwait Investment Authority’ is the oldest in the world. It was established when Kuwait Investment Board was formed in 1953.
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