DW increasing stake in Mirage August 24, 2008
Posted by mylastresort in analysis.Tags: Dubai, Dubai World, investment, MGM Grand, Sovereign wealth fund, uae
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New Jersey regulators have given the state owned investment group, Dubai World, approval to increase its stake in MGM Mirage by as much as 20%. MGM Mirage is one of the largest, most popular casinos in Atlantic City, New Jersey. I’m surprised at the freedom allocated to UAE sovereign funds since no other Gulf country may publicly invest in the ‘forbidden’ industries. Dubai World is already the second largest shareholder in the entertainment firm.
In more recent news according to an IMF working paper, the UAE’s oil reserves could last 100 years at present output levels and fetch the country net wealth of $1.6 trillion.
The New Wave of Arabs Investments in Africa March 10, 2008
Posted by mylastresort in analysis, bahrain, qatar, saudi arabia, sovereign funds.Tags: Africa, Attijariwafabank, Celtel, Congo Republic, Dubai Islamic Bank, Dubai World, Emirates Telecommunications Corp, Libyan African Portfolio (LAP), Mauritanie Airways, Middle East, Millennium Finance, Morocco, Netherlands, North Africa, Organisation of the Islamic Conference, Pan-African Investment Partners II, Prince Alwaleed bin Talal, Qatar Airlines, Qatar Steel, Royal Air Maroc, Senegal, Tunis Air, Warid Telecom, West Africa, Zain
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Senegal will host a meeting of the Organisation of the Islamic Conference (OIC) in Dakar on March 13-14, at a time when many Middle East and North African companies are making large investments in sub-Saharan Africa.
Below are a list of some recent Arab investments by sector. (more…)