MOVES-Kuwait sovereign wealth fund names Bastaki managing director -report | Reuters:
"Kuwait Investment Authority (KIA) has appointed Farouk Bastaki as managing director to replace Bader Mohammed al-Saad, newspaper al-Rai reported on Monday, quoting unnamed sources. The KIA is one of the world's biggest sovereign funds with assets estimated at $592 billion, according to the Sovereign Wealth Fund Institute. Its investments include a 6.85 percent stake in Daimler , Thomson Reuters data shows."
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