Financial and Banking News


KREIC Forms Joint Fund

The Kuwait Real Estate Investment Consortium (KREIC) has formed a joint investment fund with the Abu Dhabi-based Industrial Investment Company and Banque Paribas of France. Registered in Luxembourg, the fund is called Europhenix and has an initial capital of FF1,000mn ($166mn). Its stated objective is to invest in equities on the stock markets of the member states of the European Community (EC), and to position...