Abu Dhabi – Phoenix deal augurs huge investment

The acquisition of a 25% stake in insurance company Israel Phoenix Assurance Ltd. (TASE:PHOE1; PHOE5) by the Abu Dhabi state owned ADQ investment fund is a major move in the UAE plan to invest $10 billion in Israel, which was proclaimed in January 2021, according to a senior international source closely involved in the economic relations between the two countries.

Abu Dhabi Development Holding Co. (ADQ) is according to reports…