Kuwait Names Al-Ghunaiman to Head $700 Billion Wealth Fund

Kuwait named Ghanem Al-Ghunaiman as the new managing director of its $700 billion sovereign wealth fund, according to a statement on state-run KUNA news agency on Thursday, completing an overdue management reshuffle that had complicated decision-making. Al-Ghunaiman, an official with the Kuwait Fund for Arab Economic Development, replaces Farouk Bastaki,…