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Sovereign Wealth Funds Briefing 03.Jul 2009

Posted on 03 July 2009 by VRS |  Email |Print

From Chinadaily.com.cn: The Qatar Investment Promotion Department is planning to establish an office in China next year to facilitate mutual investments between the two countries. The office will help Qatar investors, including Qatar’s sovereign wealth fund, to seek investment opportunities in China.
The office will be set up in Beijing, according to Farzam Kamalabadi, President and Chairman of Future Trends International (Group) Corporation, a China-specialist US Corporation engaged in investment and trade consulting, media relations, and government lobbying………Full Article: Source

Posted on 03 July 2009 by VRS |  Email |Print

From Reuters: Kuwait’s sovereign wealth fund may sell more stakes it owns in local companies through an auction process, finance minister Mustapha al-Shamali told reporters on Thursday.

The Kuwait Investment Authority , the Gulf state’s sovereign wealth fund, has already said that it will offer its stake in Islamic lender Boubyan Bank in a public auction later in July………Full Article: Source

Posted on 03 July 2009 by VRS |  Email |Print

From Reuters: National Bank of Kuwait said on Thursday the central bank has renewed its approval for the country’s biggest bank by assets to buy up to 40 percent in Islamic lender Boubyan Bank. Kuwait Investment Authority , the OPEC member’s sovereign wealth fund, is the largest shareholder in Boubyan with a 20 percent stake, according to bourse data.

A unit of KIA announced last week that KIA will offer its Boubyan stake in a public auction in July………Full Article: Source

Posted on 03 July 2009 by VRS |  Email |Print

From China Knowledge: China’s Central Huijin Investment Co Ltd, a wholly-owned subsidiary of China’s US$200-billion sovereign wealth fund, is likely to keep its stake in Bank of China (BOC).

BOC on Tuesday announced that 171.33 billion of its A-shares, owned by Central Huijin, will become tradable on Jul. 6. A total of 177.8 billion A-shares, or 70.05% of outstanding shares, will thus be tradable on the Shanghai Stock Exchange next Monday………Full Article: Source

Posted on 03 July 2009 by VRS |  Email |Print

From Reuters: French state-owned nuclear reactor maker Areva could look at buying mining or renewable energy assets, its CEO Anne Lauvergeon said on France’s Radio Classique on Thursday.

Lauvergeon also said she could envisage existing partner Mitsubishi Heavy Industries, or financial investors including sovereign wealth funds, for example in the Gulf, participating in the capital raising it announced on June 30………Full Article: Source

Posted on 03 July 2009 by VRS |  Email |Print

From Globalpensions.com: The South Korean government plans to create a SKR5trn (US$3.9bn) investment fund, partially funded by the National Pension Fund, to invest in local companies and encourage research and development activity.
The Ministry of Strategy and Finance said the investment fund will also be shored up by the government, the Industrial Bank of Korea and other institutional investors………Full Article: Source

Posted on 03 July 2009 by VRS |  Email |Print

From Asianinvestor.net: The most exotic application of alternatives among the panellists is being done by the Korea Investment Corporation (KIC), which is not permitted to invest domestically, and is planning on increasing its assets under management from $25 billion to $30 billion sourced from the government and central bank.

“We see opportunities in leveraged loans, and core real estate in the US, and we will expand there in the second half of this year,” says Dong Ik Lee, the head of the alternative investment team at the KIC………Full Article: Source

Posted on 03 July 2009 by VRS |  Email |Print

From Joongang Daily: Korea’s foreign exchange reserves rose to a nine-month high in June as foreign currency liquidity conditions improved and investment profits gained, the central bank said yesterday.

The nation’s foreign reserves totaled $231.73 billion as of the end of June, up $4.96 billion from the previous month, according to the Bank of Korea………Full Article: Source

Posted on 03 July 2009 by VRS |  Email |Print

From Forbes: Denmark’s foreign exchange reserves rose by 5.0 billion crowns to 330.3 billion ($62.59 billion) in June against economists’ expectation of no change, central bank data showed on Thursday.

The central bank, whose main lending rate stands at 1.55 percent, signalled no change in interest rates. Economists also said the modest rise in forex reserves suggested there would be no change for the time being………Full Article: Source

Posted on 03 July 2009 by VRS |  Email |Print

From Todayszaman.com: The amount of foreign currency in the coffers of the Central Bank of Turkey fell by more than $4.5 billion in the first half of 2009 compared to the same period a year ago.
The decrease in the bank’s foreign currency reserves was especially apparent in the last week of June, when they dropped by $524 million to reach $65.5 billion………Full Article: Source

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