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Sovereign Wealth Funds Briefing 16.Oct 2009

Posted on 16 October 2009 by VRS |  Email |Print

From WSJ: China’s sovereign-wealth fund is investing $300 million as part of a complex transaction in which a Hong Kong-listed company is seeking to take over Russian oil producer Nobel Holdings Investments Ltd., according to statements from the Chinese fund and the Hong Kong-listed company.

The agreement appears to be a route to a backdoor listing of the Russian company in Hong Kong. In one unusual aspect of the deal, Hong Kong-based financial firm Oriental Patron Financial Group is a shareholder in both Nobel Holdings and the Hong Kong-listed company, Kaisun Energy Group Ltd……………………Full Article: Source

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Posted on 16 October 2009 by VRS |  Email |Print

From Reuters: Kaisun Energy Group, a Hong Kong-based holding company, said on Thursday that it will buy out a Russian oilfield company, Nobel Holdings Investments, invested in by China Investment Corp (CIC).

Nobel Holdings is 45 percent owned by CIC, China’s $298 billion sovereign wealth fund, 5 percent by Hong Kong-based Oriental Patron Financial Group and 50 percent by integrated petroleum company Nobel Oil……………………Full Article: Source

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Posted on 16 October 2009 by VRS |  Email |Print

From Independent: The supermarket group J Sainsbury saw its shares jump by nearly 20 per cent at one point yesterday as unconfirmed rumours of bid interest from the Qatar Investment Authority, the Qatari sovereign wealth fund whose Delta Two fund abandoned a 600p per share bid for the business in 2007, did the rounds of the dealing rooms.

The chatter has been around numerous times before, and, when the rumour first surfaced yesterday, most traders were sceptical……………………Full Article: Source

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Posted on 16 October 2009 by VRS |  Email |Print

From Arabtimesonline.com: The world’s 10 top sovereign wealth funds, holding $2.2 trillion of assets, invest almost half of that in international equity markets, according to a survey published this week.
The Investor Responsibility Research Center Institute and RiskMetrics Group, both based in New York, estimate that the top 10 funds from Abu Dhabi, Australia, China, Singapore, Kuwait, Libya, Norway, Qatar and Russia, hold just under $1 trillion in international equities……………………Full Article: Source

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Posted on 16 October 2009 by VRS |  Email |Print

From Regen.net: The £750 million Strategic Investment Fund, first announced in the April budget, is aimed at boosting industrial innovation, job creation and economic growth.

An interim report on the SIF has shown that during the fund’s first six months, the aerospace sector, with 38 per cent of the investment to date, and offshore wind, with 19 per cent of investment were the major beneficiaries……………………Full Article: Source

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Posted on 16 October 2009 by VRS |  Email |Print

From Arabtimesonline.com: Kuwait China Investment Co (KCIC), a firm linked to the Gulf Arab state’s sovereign wealth fund, said it had secured the final approval to list its shares on the Kuwaiti bourse during the fourth quarter.
“The Kuwait Stock Exchange Market Committee and KCIC will agree on the final listing day in two weeks,” KCIC said …………………..Full Article: Source

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Posted on 16 October 2009 by VRS |  Email |Print

From Abc.az: The State Oil Fund of the Republic of Azerbaijan (SOFAZ) supports conservative approach to forecasting of export oil price upon drawing up budget of the country for 2010.

SOFAZ Executive Director Shahmar Movsumov said that indicating in the budget of oil price on the level of $45 per barrel is correct step……………………Full Article: Source

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Posted on 16 October 2009 by VRS |  Email |Print

From Gazeta.kz: Kazakhstan plans to use the credit of the Shanghai Cooperation Organization (SCO) for financing of the projects of Kazahmys and ENRC Corporations, says the chairman of the board of Samruk-Kazyna National Welfare Fund, Kayrat Kelimbetov.

According to K. Kelimbetov, “there is a special demand line of SCO credit of 3 %”. “We have been discussing this possibiliy to help our ENRC and Kazahmys Corporations to finance their objects,” K. Kelimbetov said…………………..Full Article: Source

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Posted on 16 October 2009 by VRS |  Email |Print

From Reuters: Government conglomerate Dubai World said on Thursday its restructuring was nearly complete and would help save $800 million in operating costs over the next three years.

The company also said it had reduced its global workforce by 15 percent to around 70,000. Staff in the United Arab Emirates were cut by 25 percent, largely as a result of the downturn in the region’s real estate market, it said……………………Full Article: Source

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Posted on 16 October 2009 by VRS |  Email |Print

From Basilandspice.com: China Spends $115 Billion On Foreign Acquisitions, $4B In Afghanistan. In September the China Investment Corporation paid nearly $1 billion to buy an 11% stake in a Kazakhstan oil and gas company, and $850 million for a Hong Kong commodity trading house.

China has also bought stakes in foreign banks, utilities, and semiconductor companies, and invested $4 billion in Afghanistan’s largest infrastructure project - the Aynak copper mine lying idle since 1979…………………..Full Article: Source

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