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FINANCIAL NEWS
Kuwait Investment Authority plans to increase investments in China
17 Oct 2011
(MENAFN) Kuwait Investment Authority’s (KIA) China’s office director, Fahad al-Shatti, said that the company would increase its investments in China, reported Emirates 24/7.
Al-Shatti added that sales of Kuwaiti oil and crude products to China reached USD10 billion at the current time compared with USD400 million in 2004.
He also said that he would hope the authority would get permission to begin trading in the Shanghai Stock Exchange, since China planed to allow international firms to trade on the bourse.
It is worth noting that KIA’s managing assets exceed USD290 billion, moreover, the authority owns stakes in Citigroup and Daimler AG.
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