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Saturday, 26 July 2014

Abu Dhabi SWF says 'ready' to buy more hotel assets - Banking & Finance - ArabianBusiness.com

Abu Dhabi SWF says 'ready' to buy more hotel assets - Banking & Finance - ArabianBusiness.com:



"The Abu Dhabi Investment Authority is ready to purchase more real estate hotel assets as the right opportunities appear, according to its head of hospitality.



ADIA, one of the world's largest sovereign wealth funds, continues to see the United States as a viable investment option, but is also looking elsewhere around the globe, said Mike Goodson in comments published by Hotelnewsnow.com.



Speaking during the HotelsWorld Australia New Zealand conference, Goodson was quoted as saying: “We’re always very likely to be a net investor as long as our overall fund keeps growing. Given the world situation, that should happen."



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A Gulf economy that is on the up and up | GulfNews.com

A Gulf economy that is on the up and up | GulfNews.com:



"A strong set of fundamentals coupled to abundant resources, the Saudi economy is undergoing an upbeat phase. So states new findings from the International Monetary Fund in its recently-concluded Article IV consultations.



The IMF projects a real GDP growth, adjusted for inflation, of 4.6 per cent in 2014 and up from last year’s 4 per cent. This is partly attributed to the relatively steady oil production levels, the spending on housing and other large-scale infrastructure projects plus a notable performance on the part of the private sector.



The private sector benefits from the kingdom’s economic might as reflected in the GDP of $750 billion (Dh2.7 trillion). Other gains are derived from economic activities related to the annual Haj and the spending made by pilgrims through the year."



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