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KNA Reports Oil Revenue for FY 2018 and 2017

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The Kuwait News Agency reported total oil revenue for the country was 14.282 billion KWD for the fiscal year ended March 31, 2018 versus 11.689 billion KWD for the fiscal year ended March 31, 2017. 1.6 billion KWD was transferred to the Kuwait Future Generations Fund for the March 2018 year versus 1.31 billion KWD for the 2017 year. Kuwaiti law mandates 10% of total annual revenue to be transferred to the Future Generations Fund which is managed by the Kuwait Investment Authority (KIA).

GIC and ADIA Financial Power Greenko Again with $550 Million

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Singapore’s GIC Private Limited and the Abu Dhabi Investment Authority (ADIA) are already investors in Hyderabad-based Greenko Energy Holdings Pvt. Ltd, a renewable energy firm in India. Greenko Energy raised US$ 550 million from GIC and ADIA.

GIC holds a majority 60% stake in Greenko. ADIA has about a 15% stake in Greenko. The Greenko founders hold around a 25% stake in the company.

By 2021, Greenko is working on installing three new projects in Andhra Pradesh, Karnataka, and Maharashtra.

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Indian Hotel Company OYO and PIF Sign MoU

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Saudi Arabia’s Public Investment Fund (PIF) and OYO signed a Memorandum of Understanding (MoU) to explore co-investment and cooperation opportunities between the two parties, in line with PIF’s mandate to diversify Saudi Arabia’s economy through the localization of skills, creation of jobs and development of new sectors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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GIC and Mitsubishi Pole for GMA Airport Minority Stake

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Singapore’s GIC Private Limited and Japan-based Mitsubishi Corporation are in discussions with GMA Infra to acquire a minority ownership stake in its airport holding company. The parent company GMR Infra currently owns 91.95% of GMR Airport.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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