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Thursday, 25 May 2017

Exclusive: Dubai looking into forming $1 billion shipping investment fund - sources | Reuters

Exclusive: Dubai looking into forming $1 billion shipping investment fund - sources | Reuters:

"Dubai is looking into creating a $1 billion investment fund focused on shipping to develop the Gulf city's maritime sector and ride out a global industry downturn, three finance sources familiar with the plans say.

The sources said the Dubai Maritime City Authority, the government entity responsible for developing the maritime industry in the emirate, was examining ways to establish a fund to provide financial investment support to Dubai-based firms.

"There is interest in this idea (from Dubai). At this stage it is fact finding," one source said."



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