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Sovereign Wealth Funds Briefing 24.Jun 2009

Posted on 24 June 2009 by VRS |  Email |Print

From Zawya.com: UAE-based sovereign wealth fund Ras Al Khaimah Investment Authority will issue a sukuk worth up to $500 million in July, people familiar with the matter said.

“The underlying assets for the sukuk will be property,” one of the persons with knowledge of the bonds told Zawya Dow Jones on Tuesday. “The maturity will be about five years and the size is expected to be $400 million to $500 million.” ……Full Article (Subscription Required): Source

Posted on 24 June 2009 by VRS |  Email |Print

From Bloomberg: Kazakhstan’s sovereign wealth fund Samruk-Kazyna plans to buy stakes in independent domestic mining companies to help them weather the country’s worst financial crisis in more than a decade.

Samruk is seeking to acquire gold, copper and iron assets, said Murat Murtazaev, chief executive officer of Samruk Tau-Ken, the fund’s mining unit, at a conference in Almaty today. Murtazaev didn’t identify the companies in which Samruk may gain stakes. ……Full Article: Source

Posted on 24 June 2009 by VRS |  Email |Print

From Juneauempire.com: The Alaska Permanent Fund will step into the recession-battered market to buy bonds issued by troubled companies, hoping to turn a profit when business improves.

The $30.7 billion fund’s Board of Trustees met by teleconference Monday for a lengthy debate about that and other investments…….Full Article: Source

Posted on 24 June 2009 by VRS |  Email |Print

From Thestar.com.my: Khazanah Nasional Bhd and Boustead Holdings Bhd yesterday entered into a joint-venture deal via their subsidiaries to invest RM50mil in the development of an indoor educational theme park based on the concept of “KidZania” in Mutiara Damansara.

The joint-venture company, Rakan Riang Sdn Bhd, which would be 80% held by Khazanah’s wholly-owned subsidiary Themed Attractions and Resorts Sdn Bhd and 20% by Boustead Group’s wholly-owned subsidiary Boustead Curve Sdn Bhd, was expected to start the construction of the KidZania theme park in August…….Full Article: Source

Posted on 24 June 2009 by VRS |  Email |Print

From Reuters: Singapore Technologies Telemedia, a unit of state investor Temasek Holdings, said it was looking at investing in Irish telecoms group eircom through its parent Eircom Holdings.

An Irish newspaper reported on Sunday, without citing its sources, that Telemedia would make a formal bid to buy eircom on Tuesday…….Full Article: Source

Posted on 24 June 2009 by VRS |  Email |Print

From Aaco.org: Kuwait’s Minister of Communications, Dr. Mohammed Al-Busairi, has said that Kuwaiti Airways (KAC) will be fully privatised by the end of the year.
Kuwait Investment Authority will run the KAC privatisation process, while Ernst and Young is tasked with the management of data and information collection…….Full Article: Source

Posted on 24 June 2009 by VRS |  Email |Print

From Btimes.com.my: Kuwait Investment Authority (KIA), the Gulf state’s sovereign wealth fund, will offer its stake in Islamic lender Boubyan Bank in a public auction in July.

KIA has set a minimum price of 550 fils, about US$1.91 per share for the auction on July 22, Kuwait Investment Co (KIC), a unit of KIA, said in a statement on Monday…….Full Article: Source

Posted on 24 June 2009 by VRS |  Email |Print

From Upstreamonline.com: Auditing giant KPMG has been highly critical of the management of Norway’s oil fund in an ongoing review, according to reports.

In a report published by Upstream’s sister paper Dagens Naeringsliv, it emerged that KPMG singled out the fund’s management for criticism as part of an ongoing review for the Norges Bank Investment Management (NBIM), part of the country’s central bank, Norges Bank…….Full Article: Source

Posted on 24 June 2009 by VRS |  Email |Print

From WSJ: China Investment Corp. is handing over an additional $500 million to be managed by a Blackstone hedge-fund unit, thinking it has found a good bargain.

Just think if China had passed on its previous $3 billion investment in Blackstone before it went public in June 2007. That deal gave it 10% of the firm. But what if CIC had instead invested in its old standby: U.S. Treasury bonds?……Full Article: Source

Posted on 24 June 2009 by VRS |  Email |Print

From Dow Jones: The Brazilian government is studying a possible increase in its foreign currency reserves to $300 billion by next year, local newspaper Folha de Sao Paulo reported Tuesday.

According to the report, citing an unnamed source at the Finance Ministry, the government may accelerate the purchase of dollars on the foreign exchange market, thus supporting the U.S. dollar and building reserves at the same time…….Full Article (Subscription Required): Source

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