The fund will have responsibility for investing government funds, surpluses and general reserves, the Office said in a statement, adding that it would focus on investments in stocks and bonds and explore prospects both domestic and foreign. "Dubai is on a much stronger fiscal footing," said Tarek Fadlallah, chief executive of Nomura Asset Management in the Middle East.
DUBAI, Dec 11 (Reuters) - Dubai will transfer shares it owns in Dubai Electricity and Water Authority, toll-road operator Salik and Dubai Taxi to a new investment fund that will aim to generate returns and bolster the emirate's financial stability, Dubai Media Office said on Monday. Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum issued a law to set up the Dubai Investment Fund, which will be chaired by his son Sheikh Maktoum bin
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