Sovereign wealth funds from the Gulf states are focusing their strategies on the regional markets, in order to protect themselves of bigger losses of shares invested in Western companies. UK Foreign Secretary David Miliband, in a speech delivered November 24 in Abu Dhabi, invited UAE to invest in British wealth funds, after the prime-minister Gordon Brown itself made a similar call two weeks ago. Abu Dhabi is home to one of the world's largest sovereign wealth fund.
Barclays Plc. Britain's second-biggest bank would raise 7.3 billion pounds ($11.8 billion) by selling securities to investors including funds in Abu Dhabi and Qatar. Sheikh Mansour Bin Zayed Al Nahyan, a member of Abu Dhabi's royal family, will become its biggest shareholder.
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