Arab Nations Eye Control of Major U.S. Companies

Excerpt:  Sovereign Wealth Funds in six Persian Gulf countries – including Kuwait, the United Arab Emirates and Qatar – have now amassed $1.7 trillion, positioning them for attempts to control major banks and securities firms in the U.S.The funds are ready to invest petrodollar earnings worldwide as their managers examine equity plays on businesses around the globe, Business Week reports. Sovereign Wealth Funds in the Persian Gulf are comprised of government-controlled investment portfolios amassed largely as a result of the windfall profits from oil climbing to record highs.

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