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Sovereign Wealth Funds Briefing 04.Feb 2009

Posted on 04 February 2009 by VRS |  Email |Print

From Gulfnews.com: Russia’s two sovereign wealth funds rose to 7.9 trillion roubles ($221.8 billion, Dh801 billion) in January, boosting the government’s finances as it prepares for the first budget deficit in a decade.

The Reserve Fund rose to 4.9 trillion roubles and the National Wellbeing Fund increased to three trillion roubles in the month, Pyotr Kazakevich, deputy chief of the Finance Ministry’s international finance department, told reporters in Moscow on Tuesday. …. Full Article: Source

Posted on 04 February 2009 by VRS |  Email |Print

From Therealdeal.com: Sovereign wealth funds that have been able to invest in securities as well as real estate in North America have lost trillions of dollars due to the global economic crisis.

“The global financial meltdown has cost countries in the Middle East $2.5 trillion over the past four months and led to a 60 percent drop in development projects in the region being put off or scrapped,” the Kuwaiti Foreign Minister Sheikh Mohammed Sabah Al Salem, who also serves as the acting oil minister, has said….. Full Article: Source

Posted on 04 February 2009 by VRS |  Email |Print

From Bloomberg: Every weekday when he’s in Oslo, Yngve Slyngstad takes the elevator to his office at Norway’s central bank, logs on to his computer and checks about $300 billion of international investments.

It’s made miserable reading since January 2008, when Slyngstad became chief executive officer of the Government Pension Fund-Global, the world’s third-largest sovereign wealth pool. …. Full Article: Source

Posted on 04 February 2009 by VRS |  Email |Print

From Dnaindia.com: The ongoing global economic crisis is the severest the world has experienced in decades. The IMF expects world growth to stagnate in 2009, while global trade is expected to fall by about 3%.

Other indicators of the severity of the crisis: the global stock market capitalisation declined by 41% during 2008, from $55.2 trillion to $32.6 trillion; and the International Labour Organisation has predicted that 50 million jobs may be lost globally during the crisis….. Full Article: Source

Posted on 04 February 2009 by VRS |  Email |Print

From Efinancialnews.com: Norway’s €234bn ($301bn) sovereign wealth fund, one of the biggest institutional investors in Europe, is continuing to pile into equities despite losing 14.5% on its strategy during the first nine months of last year….. Full Article: Source

Posted on 04 February 2009 by VRS |  Email |Print

From Thenational.ae: Abu Dhabi should deploy its wealth fund to support the Dubai economy, says the Merrill Lynch chief investment officer of its global private client group in Europe, Middle East and Africa.

“Abu Dhabi still has one of biggest sovereign wealth funds in the world and can support any domestic troubles,” said Gary Dugan, speaking at the launch of the bank’s research document,‘Outlook 2009: Turbo-gloom and anno horribilis’, in Dubai….. Full Article: Source

Posted on 04 February 2009 by VRS |  Email |Print

From Moscowtimes.ru: Faced with the prospect that Russia’s proverbial rainy day could run into months and years, the Finance Ministry said Tuesday that its accumulated oil wealth would be adequate to cover potential budget deficits through 2011.

The combined value of the Reserve Fund and the National Welfare Fund, still referred to collectively as the stabilization fund, reached $222 billion as of Feb. 1, Pyotr Kazakevich, deputy head of the ministry’s department for international relations, state debt and financial assets, said at a news conference….. Full Article: Source

Posted on 04 February 2009 by VRS |  Email |Print

From Reuters: U.S. private equity firm TPG has broken off talks to sell a stake in itself to investors including Kuwait’s sovereign wealth fund and two California state pension funds, the Financial Times reported.

The FT, citing people familiar with the matter, said the talks had spanned two years and broke down over valuing TPG, which has also given up thoughts of an initial public offering, at least for the time being.. …. Full Article: Source

Posted on 04 February 2009 by VRS |  Email |Print

From Bloomberg: The Australian government plans to sell a record A$22 billion ($14 billion) to A$24 billion of bonds through June 30 to fund economic stimulus plans aimed at dragging the economy away from recession.

The sales start Feb. 6 with an offering of A$600 million of debt maturing April 2015 and the government expects to hold auctions on Wednesdays and Fridays during most of the coming weeks, the Australian Office of Financial Management said today on its Web Site. …. Full Article: Source

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