U.S. to pump $150mln into Mideast private equity fund September 10, 2012 - 13:59 AMT PanARMENIAN.Net - A U.S. government financing agency says it plans to pump $150 million into a Mideast private equity fund designed to promote the growth of small and medium-sized businesses in the region, The Associated Press reports. A division of Dubai-based Abraaj Capital, the Middle East's largest private equity firm, will manage the financing provided by the U.S. government's Overseas Private Investment Corporation. OPIC and Abraaj said in a statement late Sunday that the Abraaj-managed Riyada Enterprise Development Growth Capital Fund aims to help businesses across the Middle East and North Africa, with Egypt as one of the main targets. It is expected to ultimately have a capitalization of $400 million. OPIC uses private capital to promote development and helps businesses break into emerging markets.   Top stories Azerbaijani authorities report that they have already resettled 3,000 people in the Nagorno-Karabakh town of Stepanakert. On June 10, Azerbaijani President of Azerbaijan Ilham Aliyev will leave for Turkey on a working visit. Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive.   Partner news |  Latest news Viva sees growing demand for cloud services  In recent years, medical institutions are starting to make use of Viva’s cloud servicesArmenian, German presidents meet in Berlin Armenian and German Presidents Vahagn Khachaturyan and Frank-Walter Steinmeier met in Berlin.Armenia assumes presidency of Mediterranean Network of Regulatory Authorities The Commission on Television and Radio of Armenia said it expects productive cooperation in various formats.Balance of attached cards in the Idram&IDBank app From now on, users will be able to view the online balances of cards issued by ArCa system banks and attached to the app. |
