Wizdom
24-02-08, 17:51
Dubai ruler fund shuns U.S.; eyes India, China instead
JEDDAH (Reuters) - Dubai International Capital, an investment agency owned by the ruler of Dubai, said it is holding off making additional investments in the United States because asset prices are likely to fall further.
"The U.S. market is not yet attractive," Chief Executive Sameer al-Ansari told Reuters in Jeddah, Saudi Arabia, on the sidelines of an investment conference.
"We will see more of a correction in the first half and then we will see some opportunities ... for the moment, more problems are yet to be disclosed," he said.
"We are actively looking at Asia, namely India and China, especially in the manufacturing sector," Ansari said, declining to be more specific.
(Reporting by Souhail Karam; Editing by James Cordahi)
JEDDAH (Reuters) - Dubai International Capital, an investment agency owned by the ruler of Dubai, said it is holding off making additional investments in the United States because asset prices are likely to fall further.
"The U.S. market is not yet attractive," Chief Executive Sameer al-Ansari told Reuters in Jeddah, Saudi Arabia, on the sidelines of an investment conference.
"We will see more of a correction in the first half and then we will see some opportunities ... for the moment, more problems are yet to be disclosed," he said.
"We are actively looking at Asia, namely India and China, especially in the manufacturing sector," Ansari said, declining to be more specific.
(Reporting by Souhail Karam; Editing by James Cordahi)