Dubai creates new sovereign wealth fund

Dubai World “will be affiliated” to new investment arm

UAE flag

Dubai is establishing a new sovereign wealth fund, its government announced on December 11.

The Dubai Investment Fund will take control of the government’s equity in companies like the water and electric utility, toll-road operator Salik and the taxi operator. The emirate has sold off minority stakes in these companies in the last two years. The new fund will also have stakes in “other companies directly owned by the Dubai government”. 

“All relevant government entities in Dubai must register

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