Dubai state investment agency mulls U.S. purchases
Tue Nov 20, 2007 4:36pm GMT
By Daliah Merzaban
Ivestment Corporation of Dubai, an agency which pools some of the Dubai government's biggest holdings, said it is looking to benefit from the US mortgage crisis to buy into troubled U.S. financial services companies. "What's happening in the States is going to create a lot of opportunities," Mohammed Shaibani, chief executive officer of the Investment Corporation, told reporters.
Tue Nov 20, 2007 4:36pm GMT
By Daliah Merzaban
Ivestment Corporation of Dubai, an agency which pools some of the Dubai government's biggest holdings, said it is looking to benefit from the US mortgage crisis to buy into troubled U.S. financial services companies. "What's happening in the States is going to create a lot of opportunities," Mohammed Shaibani, chief executive officer of the Investment Corporation, told reporters.
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The Dubai government agency that bought into Deutsche Bank this year said on Monday it could invest in US banks, property and other sectors after the dust settles on a mortgage crisis that has cut asset prices. Banks that have reported losses from defaults on subprime, or high-risk mortgages, could be among the targets for DIFC Investments, which is helping drive Dubai's push to build two of the world's ten largest financial institutions in eight years.
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