Kuwait Investment Authority (KIA), the Gulf state's sovereign fund, will set up a company with $1 billion capital to invest in Egypt's stock market, a local newspaper said citing the head of the chamber of commerce.
"The head of the Kuwaiti delegation visiting Cairo revealed a decision by Kuwait Investment Authority to establish a company with a capital of $1 billion to invest in the Egyptian stock market," Kuwaiti daily al-Rai cited Ali al-Ghanim as saying.
"We affirm of Kuwait's positive position towards Egypt, and we are confident about investing in Egypt," he said.
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