Fri, Oct 31, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS
Sovereign Wealth Funds Briefing 20.Feb 2009

Posted on 20 February 2009 by VRS |  Email |Print

From IHT: The $200 billion Chinese sovereign wealth fund is shifting its investment focus to natural resources, fixed income and real estate after having made losing bets on high-profile U.S. financial firms, people familiar with its strategy said.

China Investment Corp., headed by a former Vice Finance Minister Lou Jiwei, has drawn criticism at home over large paper losses on its combined $8.6 billion investments in the U.S. private equity giant Blackstone Group and the Wall Street bank Morgan Stanley…… Full Article: Source

Posted on 20 February 2009 by VRS |  Email |Print

From Gulfnews.com: Ras Al Khaimah Investment Authority (Rakia), a sovereign wealth fund, plans to invest about $2 billion (Dh7.34 billion) in Georgia over the next five years despite the global downturn and Georgia’s war with Russia in 2008, the head of its local unit said.

A brief war between Georgia and Russia in August of last year over the break-away region of South Ossetia scared off many potential investors from the country but Rakia, a sovereign wealth fund, says it plans to fully carry out all investment projects…… Full Article: Source

Posted on 20 February 2009 by VRS |  Email |Print

From Reuters: Canada’s energy-rich province of Alberta is expected to report its first budget deficit in 15 years this fiscal year, racking up more than C$1 billion ($800 million) in red ink as the value of its savings fund sinks.

Provincial Finance Minister Iris Evans said the province will report a balanced operating budget, with revenues equalling expenses for 2008-09…… Full Article: Source

Posted on 20 February 2009 by VRS |  Email |Print

From Montrealgazette.com: After racking up fat budget surpluses for 15 straight years, the Alberta government is poised to announce its first annual budget deficit since 1993, one year after former premier Ralph Klein began his 14-year reign.

In an exclusive interview Wednesday with the Edmonton Journal, Alberta Finance Minister Iris Evans said the province is currently on track to report a 2008-09 budget deficit of more than $1 billion…… Full Article: Source

Posted on 20 February 2009 by VRS |  Email |Print

From Business24-7.ae: Abu Dhabi National Energy Company (Taqa) has agreed to buy a 50 per cent stake in Marubeni Corporation’s Caribbean power portfolio, Taqa said yesterday.

Taqa is 75 per cent owned by the Government of Abu Dhabi, and is one the vehicles used by the emirate to invest oil export revenues…… Full Article: Source

Posted on 20 February 2009 by VRS |  Email |Print

From Bizjournals.com: Advanced Micro Devices Inc. shareholders on Wednesday approved a major cash infusion from an Abu Dhabi investment company that will help fund the $4.6 billion computer chip fab planned for Malta, N.Y.

It was the second attempt by Sunnyvale-based AMD (NYSE:AMD) in eight days to secure a quorum of shareholders for the $8 billion investment…… Full Article: Source

Posted on 20 February 2009 by VRS |  Email |Print

From Mydigitalfc.com: Quippo Telecom Infrastructure (QTIL) has applied to the Foreign Investment Promotion Board (FIPB) for approval to sell 16 per cent stake in the company to Oman Investment Fund (OIF), the sovereign wealth fund of the Sultanate of Oman, for around $100 million.
The proposal is expected to come up for consideration at the FIPB meeting to be held on February 20, 2009. ….. Full Article: Source

Posted on 20 February 2009 by VRS |  Email |Print

From Wayangparty.com: At the peak of the global financial turmoil last year when banks are shunned by most savvy investors, Temasek shocked many in the finance industry by increasing its stakes in troubled U.S. bank Merrill Lynch.

According to Bloomberg: “Temasek Holdings Pte, Singapore’s $130 billion sovereign wealth fund, said it has “great confidence” in Merrill Lynch & Co. Chief Executive Officer John Thain” Merrill has a “great franchise which has existed through many crises through a long period of time,” Michael Dee, Temasek’s senior managing director of international, said in a Bloomberg Television interview yesterday. ….. Full Article: Source

Posted on 20 February 2009 by VRS |  Email |Print

From Todayinsingapore: Buried in the back pages of the local paper was the story that mainboard listed Osim International has suffered its first annual loss since listing in 2000, no thanks to its write-off of a multi-million dollar investment in Brookstone, a loss making retail chain in the United States.

Osim yesterday posted a net loss of $98 million for the year ended December, versus the previous year’s net profit of $3.7 million…… Full Article: Source

Posted on 20 February 2009 by VRS |  Email |Print

From Bloomberg: The United Arab Emirates is preparing a plan to help banks resume lending as the “unprecedented” credit crisis ends a five-year real-estate boom in the Gulf nation, the chairman of state-owned Dubai World said.

“If we want the banks to lend again to real estate, then obviously governments will have to put a plan,” Sultan Ahmed bin Sulayem, who also sits on a committee studying the effects of the global credit crisis on Dubai’s economy, said in a Feb. 17 interview in his office. ….. Full Article: Source

Posted on 20 February 2009 by VRS |  Email |Print

From Commodityonline.com: World’s third largest foreign reserves holder, Russia on Thursday said its international reserves increased last week as the central bank purchased foreign currency in a bid to temper the ruble’s gains.

In a statement issued here, Russia’s central bank, Bank Rossii said its stockpile added $3.1 billion to $386.6 billion, after falling $4.6 billion in the week to Feb. 6…… Full Article: Source

Posted on 20 February 2009 by VRS |  Email |Print

From Pehub.com: China, which triggered the biggest commodity price spike in a generation, is now making deals that could prevent another surge in the coming decade by helping finance new production during the low ebb of the cycle.

While the deepening global recession has focused traders on trying to pick a bottom to the current price collapse, more far-sighted analysts have already begun ringing alarm bells over the canceled investments and delayed projects that threaten to leave the world short of raw materials once growth resumes…… Full Article: Source

Posted on 20 February 2009 by VRS |  Email |Print

Sovereign Wealth Fund SamrukKazyna controlled Air Astana, the flag carrier of the Republic of Kazakhstan in which, continued to achieve growth in 2008, with available seat kilometers up by 16% to 7.5 billion compared to 2007. Passengers carried increased by 8% to 2.3 million. Almost 28,000 scheduled passenger flights were undertaken, with an average load factor of 64%.

The Air Astana fleet grew to 21 aircraft during the year following the delivery of three additional Airbus A320 family aircraft. The airline confirmed orders for six A320 family aircraft, with the fleet on track to grow to 34 aircraft in 2014 and 63 by 2022…… Full Press Release: Source

See more articles in the archive

banner
November 2014
M T W T F S S
« Oct    
 12
3456789
10111213141516
17181920212223
24252627282930