ABU DHABI: Abu Dhabi Investment Authority, believed to be the world's largest wealth fund, on Monday revealed for the first time the distribution of its assets, estimated at around $500 billion. ADIA, in its first-ever annual review, said it invests between 60 percent and 85 percent of its holdings in North America and Europe and between 25 percent and 45 percent

TOKYO: Toyota and three other Japanese automakers together with a power company have set up a group to promote electric vehicles by standardizing recharging machines and marketing the technology abroad. Representatives of Toyota Motor Corp., Nissan Motor Co., Mitsubishi Motors Corp., Fuji Heavy Industries and Tokyo Electric Power Co.

DAMASCUS: Saudi Arabia is discussing extending development loans to Syria as ties between the two countries improve but there will not be direct cash assistance, the Saudi central bank governor said on Monday.Diplomatic activity between Damascus and Riyadh picked up in the last months after they agreed to set aside their political differences and lower

TEHRAN: China has emerged as Iran's top economic partner, investing heavily in the energy sector and filling the gaps left by Western firms forced out by international sanctions. In 2009, China became Iran's premier trade partner, with bilateral trade worth $21.2 billion against $14.4 billion three years earlier. The figures confirm the exponential growth