Weekend news on another oil state
- Kuwait is planning a new sovereign wealth fund which will include local assets managed by Kuwait Investment Authority
- Stakes in local companies, as well as power and water projects, will be included in the new fund
- Plan is to these local assets to private investors in five to seven years
- "Kuwait's plan to privatize utilities while removing domestic energy subsidies is intended to make its power and water assets more profitable for the fund and attractive to potential investors"
Bloomberg with the report from Al-Anba newspaper
