Oman Shifts Wealth Funds Into New Entity With $17 Billion Assets
(Bloomberg) --
Oman will combine its two wealth funds into one entity, which will hold assets valued at about $17 billion.
The Oman Investment Authority will manage all assets and liabilities of the State General Reserve Fund and the Oman Investment Fund, according to a royal decree. All government companies, except Petroleum Development Oman and the nation's international investments, will fall under the new entity.
The State General Reserve Fund's assets are valued at $14 billion and Oman Investment Fund's at $3.4 billion, according to the Sovereign Wealth Fund Institute.
The Oman Investment Authority will be one of the smallest managers of state capital in the Middle East and is dwarfed by Saudi Arabia's Public Investment Fund, which aims to be the world's biggest with $2 trillion in assets. The Abu Dhabi Investment Authority, Qatar Investment Authority and Kuwait Investment Authority are well-entrenched with billions of assets under management.
| Read more: |
|---|
| Oman Cuts New Civil Servants' Salaries Up to 23% as Crisis Bites |
| From Gulf Laggard to Standout: OPEC+ Promise Eases Oman's Pain |
| A Wobble Over Power Bills Indicates Oman's Finances Tightening |
| Oman's New Sultan Embarks on Long Road to Economic Recovery |
©2020 Bloomberg L.P.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
