The wealth fund said the merger is part of its mandate to establish, merge, liquidate, and sell assets
The sovereign wealth fund said it recorded more than OMR1.7bn in profit and contributed OMR800m to the state’s general budget
The investment will accelerate the Gulf Mercantile Exchange’s growth as a regional commodities leader well-positioned to capture global commodity demand
In 2022, ADQ and OIA identified investment opportunities worth over $bn in key sectors of Oman’s economy
By focusing on critical areas, the ‘Future Fund Oman’ aims to revitalise the country’s economic pillars and propel sustainable growth
The fund offers funding and investment solutions to various investor categories including private sector organisations, SMEs, foreign investors, and startups
The selling shareholders reserve the right to amend the size of the offering at any time before the end of the subscription period
The country’s sovereign wealth fund said its return on investment last year touched 8.8 per cent, which allowed it to contribute substantially to support the general budget
The fund has signed an agreement with Oman Investment Authority aiming to invest in a wide range of asset classes and target industries
The Hanoi-based company offers small loans primarily backed by vehicles as collateral and provides financial services, such as insurance and money transfers
The fund now manages over OMR16bn of assets in 40 countries and has achieved an annual average return of 10.3 per cent
ADQ and OIA recently entered into a Dhs10bn partnership agreement to facilitate investments between the UAE and Oman across sectors of common interest
The government has OMR1.83bn left to raise after so far borrowing OMR1.77bn and withdrawing OMR600m from the Oman Investment Authority
All government companies, except Petroleum Development Oman and the nation’s international investments, will fall under the new entity