The Kuwait Investment Authority (KIA) has rolled out a new company with capital worth $167.8 million, Reuters reports. The new firm has been set up to invest in the Egyptian economy. The new firm will act as the authority’s investment division in Egypt, where Kuwaiti investments account for around $15 billion. Separately, the sovereign fund is seeking minimum returns of 6% from a five-year real estate portfolio that will invest in the local market.
Click here for the story from Reuters.