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Kuwait to maintain Merrill, Citi investments
- Kuwait: Monday, September 07 - 2009 at 09:11
The Kuwait Investment Authority (KIA), the country's sovereign wealth fund, said it has no plans to sell its investments in Merrill Lynch or Citigroup in the short term, Reuters has reported, citing daily al-Rai. KIA has received criticism from some parliamentarians for investing $5bn in the two financial services companies. KIA's investment in Citigroup amounts to some $2.39bn to November 30, 2008, and about $984m in Merrill Lynch to December 1, 2008.
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StaffMonday, September 07 - 2009 at 09:11 UAE local time (GMT+4)
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