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Saturday, November 28 - 2009

Acquisition of foreign assets by GCC tops $900bn

  • Middle East: Thursday, November 27 - 2008 at 14:38

The cumulative acquisition of foreign assets by the GCC exceeded $900bn in the five years ended June 2008, according to a report by Samba Financial Group. The US has accounted for almost half the foreign assets accumulated during the past five years, the report said. The remaining half flowed to Europe, the Middle East, North Africa, and East Asia. GCC foreign asset accumulation in 2008 is likely to reach around $390bn.

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