Sun, Aug 28, 2016
A A A
Welcome mteam
RSS
Sovereign Wealth Funds Briefing 26.Aug 2016

Posted on 26 August 2016 by VRS |  Email |Print

It was recently reported that Chinese smartphone company Xiaomi, once dubbed the “Apple of the East”, has lost US$40 billion in value over a period of 18 months. In Dec 2014, Xiaomi announced a funding round of US$1.1 billion giving it a valuation of US$45 billion. In the US$45 billion round, it wasreported that investors included the Singapore sovereign wealth fund GIC, which is tasked to manage Singapore’s reserves.
GIC’s investment in Xiaomi comes after Temasek purchased a small stake in the smartphone maker in an earlier funding exercise. It was also reported that Temasek had gone on an investment spree together with Xiaomi and its founder Lei Jun, to invest in dozens of firms across China’s mobile internet eco-system………………………………………..Full Article: Source

Posted on 26 August 2016 by VRS |  Email |Print

Singapore sovereign wealth fund GIC is closely monitoring its investment in cash-strapped Australian steel and iron ore supplier Arrium, it told The Straits Times yesterday. Arrium went into voluntary administration in April after lenders rejected its US$927 million (S$1.3 billion) recapitalisation plan.
GIC declined to comment on the size of its investment and the prospects of its recovery. The Straits Times understands that it holds around 8.21 per cent of the firm. Arrium is among a number of steel mills around the world that are struggling to compete with cheap exports from China, which accounts for about half of global output………………………………………..Full Article: Source

Posted on 26 August 2016 by VRS |  Email |Print

Executives of Temasek Holding, a major shareholder of Thailand’s InTouch Holdings, plan to meet Prime Minister Gen Prayut Chan-o-cha on the future of the country’s satellite industry and the Thaicom case.
An executive at InTouch who asked not to be named told the Bangkok Post that Temasek leaders have made an appointment to meet the prime minister to introduce themselves as well as to talk about the Singapore investment company’s long-term investment plans in Thailand. The planned meeting follows the government’s scheme to formulate a new investment model for the satellite industry to replace the licensing regime. Four options are being considered………………………………………..Full Article: Source

Posted on 26 August 2016 by VRS |  Email |Print

Khadem Al Qubaisi Owned Hakkasan (HKK) Entertainment Empire As Part of the Vasco Trust Web Of Companies. On 24th October 2013 a team of lawyers from the New York law firm Greenberg Traurig (‘gtlaw’) emailed the Abu Dhabi based New Zealand lawyer, Jim Sullivan, at the time a Board Member of the wealth fund IPIC and also of its subsidiary Falcon Bank.
The CEO of IPIC, of course, was Khadem Al Qubaisi (KAQ), who is currently under arrest in Abu Dhabi and the subject of extensive anti-money laundering investigations in a number of countries. The subject of the email was the purchase of a $50 million penthouse in New York’s Walker Tower, one of the properties subject to a seizure notice by the US Department of Justice, owing to the fact that it was purchased through KAQ’s Vasco Investment Services SA (manager of his Vasco Trust in Luxembourg), which received over half a billion dollars stolen from Malaysia’s development fund 1MDB………………………………………..Full Article: Source

Posted on 26 August 2016 by VRS |  Email |Print

Malaysian sovereign wealth fund entered joint venture with D.C. firm owned by bundler for Obama, Clinton. A top bundler for President Barack Obama and now Hillary Clinton previously entered into a joint venture agreement with a Malaysian sovereign wealth fund accused of embezzling more than $3 billion dollars internationally.
The troubles surrounding 1Malaysian Development Berhad (1MDB), a state investment fund created by the Malaysian government to promote economic development in the country, has garnered increased headlines in recent days after it was discovered that actor Leonardo DiCaprio’s foundation is linked to the foreign entity………………………………………..Full Article: Source

Posted on 26 August 2016 by VRS |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) sold $50 million to 28 banks through an auction held by the Central Bank of Azerbaijan (CBA) Aug. 25, SOFAZ said in a message. The SOFAZ sold $344.5 million to banks during August 2016.
SOFAZ will continue to sell foreign currency through auctions in 2016. The foreign currency is sold as part of SOFAZ’s transfers to the Azerbaijani state budget, which are envisaged to stand at 7.615 billion Azerbaijani manats in 2016………………………………………..Full Article: Source

Posted on 26 August 2016 by VRS |  Email |Print

The State Oil Fund (SOFAZ) and the Central Bank continue centralized sale of foreign currency to banks. SOFAZ reports that today the Central Bank (CBA) has held the next foreign exchange auction.
“At the auction SOFAZ, putting an application for $50 million, sold $50 million to 28 banks,” SOFAZ said. At the previous auction it was sold $46 million to 25 banks. The Fund will continue participation in currency auctions………………………………………..Full Article: Source

Posted on 26 August 2016 by VRS |  Email |Print

Hashimi said economist: The Fund sovereign large economic and financial experience of Iraq needs to be fought by being considered the best way globally accredited to provide investment for future generations, especially as the circumstances require speed up thestudy of this experience and apply them in line with the reality , which is going through the country , especially and he has seen a rise in population by about 3 percent a year would require increased services and financial allocations over time.
he said academic economist , Dr. Essam Mahouelle that Iraq is in dire need to establish a sovereign wealth fund as soon as possible because such investment savings will be for future generations rather than the current generation………………………………………..Full Article: Source

Posted on 26 August 2016 by VRS |  Email |Print

Qatar’s sovereign wealth fund has made an iconic purchase in America — a stake in the company that owns New York’s Empire State Building. The $622-million purchase by the Qatar Investment Authority comes as the Doha fund increases its investments in the U.S. as the small country on the Arabian Peninsula tries to cope with low global oil and gas prices.
The Empire State Realty Trust Inc., which manages the 102-story, 1,454-foot (443-meter) -tall building, announced the Qatari purchase late Tuesday, saying the fund would gain a 9.9-percent stake in the company. The trust owns a total of 14 office properties and six retail properties around the New York area………………………………………..Full Article: Source

Posted on 26 August 2016 by VRS |  Email |Print

The Qatar Investment Authority’s acquisition of a 9.9-percent stake in Empire State Realty Trust, announced Wednesday, is an unusual move for a sovereign wealth fund. But it offers several advantages, analysts say. “It is relatively rare to see [sovereign wealth funds] buy a stock position,” said John Guinee, an analyst at Stifel. Far more often, they buy direct stakes in buildings.
When Norway’s sovereign wealth fund Norges Bank Investment Management invested with publicly traded Boston Properties last year, for example, it didn’t buy its stocks. Instead, it bought a 45-percent joint venture interest in the Citigroup Center at 601 Lexington Avenue for $725 million. In 2013, it had bought a 45-percent stake in Boston Properties’ 7 Times Square for $684 million………………………………………..Full Article: Source

See more articles in the archive

banner
banner
August 2016
M T W T F S S
« Jul    
1234567
891011121314
15161718192021
22232425262728
293031