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Sovereign Wealth Funds Briefing 28.Oct 2009

Posted on 28 October 2009 by VRS |  Email |Print

From Chinadaily.com.cn: Aluminum producer United Co Rusal is in talks with parties including China Investment Corp (CIC) and Temasek Holdings Pte to invest in a Hong Kong share sale, the Hong Kong Economic Journal said, without citing anyone or providing details of the investments.

Wu Xueling, a Beijing-based official at CIC, the nation’s sovereign wealth fund that holds almost $300 billion of assets, declined to comment. Temasek spokespeople in Singapore weren’t immediately available for comment………………………Full Article: Source

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Posted on 28 October 2009 by VRS |  Email |Print

From Reuters: China’s sovereign wealth fund has invested about half of its $110 billion in available funds, mainly in publicly traded assets, and has enjoyed “not bad” returns so far this year, its chief said on Wednesday.

Lou Jiwei, chairman of China Investment Corp (CIC), said CIC was seeking financial returns, not control over the companies in which it invested………………………Full Article: Source

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Posted on 28 October 2009 by VRS |  Email |Print

From Areadevelopment.com: The name “sovereign wealth fund” is both unfortunate and misleading. The term has endowed SWFs with a special and even threatening aura, even though, under international law, they do not enjoy sovereign immunity, as they are just state-owned entities, along with government-owned airlines, banks, shipping companies, etc.

Kovacs asks, how important in fact are the SWFs? Of course, $3–5 trillion is a lot of money, but it is only a small part of the investment universe………………………Full Article: Source

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Posted on 28 October 2009 by VRS |  Email |Print

From Ethicalcorp.com: Norway’s huge sovereign wealth fund could influence global sustainability practices with its new investment guidelines

For all the raised awareness of global warming, are companies really paying attention to their carbon emissions and, if so, are they doing anything meaningful?……………………..Full Article: Source

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Posted on 28 October 2009 by VRS |  Email |Print

From Channelnewsasia.com: Singapore’s Temasek Holdings and Government of Singapore Investment Corporation (GIC) have cut their stakes in India’s second biggest lender ICICI.

Wire reports, citing data from the Bombay Stock Exchange, said on Tuesday that Temasek trimmed its stake in ICICI through its Indian arm, Allamanda Investments, from 7.6 per cent at the end of June, to 5.76 per cent as of September 30………………………Full Article: Source

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Posted on 28 October 2009 by VRS |  Email |Print

From Arabianbusiness.com: Qatar’s Hassad Food Company, owned by Qatar’s Investment Authority, has announced the establishment of a joint venture with a capital of $100m in Sudan.

The deal is part of a planned $1bn agricultural investment in the African country………………………Full Article: Source

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Posted on 28 October 2009 by VRS |  Email |Print

From Digitaljournal.com: China Investment Corp (CIC), the sovereign-wealth fund, said yesterday that it is to invest $500 million USD in SouthGobi Energy Resources, a Vancouver-based miner whose businesses are mainly located in Mongolia, reported Market Watch.
SouthGobi said the fund will be used for developing its projects in Mongolia. For example, it plans to expand the annual output of the flagship Ovoot Tolgoi coal mine to 8 million tons from the current 1.4 million tons………………………Full Article: Source

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Posted on 28 October 2009 by VRS |  Email |Print

From Khaleejtimes.com: Dubai Ports World said on Tuesday that its Chief Financial Officer, Yuvraj Narayan, would step down at its board meeting on December10 and join its parent company, Dubai World, as its Group Chief Financial Officer.

In a statement posted on Nasdaq Dubai’s website, the ports operator said that the board of DP World has commenced a search for a new CFO and a further announcement will be made in due course………………………Full Article: Source

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