UAE Investments in Europe

Millennium Private Equity, a Dubai government-linked investment company with about US$5 billion in capital, plans to use Islamic financing for venture capital in Europe after buying the first corporate sukuk in the UK, Bloomberg has reported. "We are looking at transactions in Europe and other areas," Vally Khamisani, a director at Millennium told the news service. Millennium, part-owned by Dubai Islamic Bank, had bought US$10 million of four-year convertible notes in July that were sold by International Innovative Technologies, a clean energy company in Gateshead. - AMEInfo