Middle East Economic Survey
IPIC Sells Barclays Stake, Makes $2.42Bn Profit
International Petroleum Investment Company (IPIC), the Abu Dhabi government investment vehicle, has sold 1.3 million shares in Barclays Bank for a profit of 1.46bn ($2.42bn) after only seven months. IPICs Managing Director Khadim 'Abd Allah al-Qubaisi said that the decision reflects the focus of IPICs long-term investment strategy in hydrocarbon-related opportunities. IPIC announced it was...