${log.root}/lowem.log
Inflation, Investing and Everything


All | Energy | Java | Tech | Musings | Env | Biz

AddThis Feed Button
20060201 Wednesday February 01, 2006

Gulf Arab states to invest surplus oil money in China and India

business-times.asia1.com.sg :

Arab Gulf monarchies Kuwait, Abu Dhabi in the United Arab Emirates and Qatar plan to channel more of their revenue from oil sales into Asian countries such as China to boost returns and strengthen ties with their fastest-growing customers. Officials from the three monarchies, which sold about US$300 billion worth of oil last year, said in interviews at the World Economic Forum's annual meeting in Davos, Switzerland they intend to tap economic expansion in India and China.

The focus of the five-day forum on China and India prompted concern the United States and Europe will lose investment. Saudi Arabian monarch last week made the first trip to China and India. 'We are in China, where we are considering expansion, and we are trying to invest in India,' Abdullah Jum'ah, president of state-owned Saudi Aramco, said in Davos.

Meanwhile, the developed world is still luring plenty of cash from the Persian Gulf. Dubai plans to set up a fund worth as much US$15 billion with other Arab Gulf states and institutions to invest in the world's biggest companies. DP World, Dubai's port company, last week agreed to pay 3.9 billion (S$11.2 billion) for the UK's Peninsular & Oriental Steam Navigation Co, trumping a bid by PSA International of Singapore.

See also :

1. Arab oil money
2. Energy deal expected on Saudi king's China visit
3. Saudi King to push ties with energy-hungry India

(2006-02-01 23:54:29 SGT) [Biz] Permalink

Comments:

Post a Comment:

Comments are closed for this entry.

Your Ad Here


Most popular blog postings on lowem.log :

1. Singapore MRT rail network length to double by 2020
2. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
3. Live spot gold price quotes chart on COMEX
4. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
5. AVG Anti-Virus Free Edition 2011 direct download link
6. Real-time live gold and silver price quotes chart on COMEX
7. Singapore electric vehicles : Government agencies EMA and LTA to study EV introduction
8. Book review : Shut Down by William Flynn

Featured articles on lowem.log :

1. Book review : Shut Down by William Flynn
2. Singapore electric cars testing starts with 9 electric vehicles
3. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
4. 2010 Honda Civic Hybrid preliminary specifications released
5. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
6. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore : Nuclear power not ruled out



search
sponsored links


bookmarks

about
my profile
contact me

blogroll
biow/ken/wenn
reviewem
dividend investing

sites
photo gallery
wiki

quotes
live oil prices
live gold prices

charts
live forex rates
live oil chart
live brent crude chart
live gold chart
live silver chart

historical
crude oil chart
gold chart
silver chart


navigation
decals

Click for Singapore, Singapore Forecast





rss feed for lowem.log

Get Firefox!

powered by
hosted by