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Sovereign Wealth Funds Briefing 05.Jan 2010

Posted on 05 January 2010 by VRS |  Email |Print

From Seekingalpha.com: In accordance with the green energy policy of the Chinese government, CIC has been actively endorsing the nation’s energy policy.
When A-Power Energy Generation signed a definitive deal in December to provide a wind turbine for the 600MW wind farm in Texas, the little known company became known on Wall Street…………………………………..Full Article: Source

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Posted on 05 January 2010 by VRS |  Email |Print

From Dow Jones: The Brazilian government gave its sovereign wealth fund or FSB, greater freedom to make investments. The government also will be free to buy dollars in the local currency market as part of its investment plan for the fund.
Brazil’s real opened stronger Monday, boosted by more optimistic forecasts for domestic economic growth along with firm overseas demand for Brazil’s major commodities…………………………………..Full Article: Source

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Posted on 05 January 2010 by VRS |  Email |Print

From Marketwatch.com: The Agricultural Bank received a $19 billion cash injection from a domestic unit of China’s sovereign wealth fund in October, making it a 50% stakeholder in the bank. China’s Ministry of Finance owns the remaining 50% stake.
“The social security fund is the only strategic investors that the bank will bring in before its IPO,” the China Daily report cited its source as saying…………………………………..Full Article: Source

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Posted on 05 January 2010 by VRS |  Email |Print

From Reuters: Canada-listed coal miner SouthGobi plans to raise close to $400 million from a Hong Kong IPO this month. The expected cash infusion follows a $500 million investment from China sovereign fund China Investment Corp announced in October, which SouthGobi also plans to use to expand its Mongolia development.
SouthGobi, which started IPO premarketing on Monday, is focused on expanding its coal production capacity in Mongolia, centered around its Ovoot Tolgoi mine. It said it would use the proceeds of the share sale to expand production capacity and access regional infrastructure…………………………………..Full Article: Source

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Posted on 05 January 2010 by VRS |  Email |Print

From Allafrica.com: A fresh controversy has emerged at Makerere University. The university’s convocation has called for the resignation of the Chancellor, Prof. Mondo Kagonyera.
The convocation, an alumni body that unites former students of the university, argues that his continued stay is undermining efforts to clean up Makerere…………………………………..Full Article: Source

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Posted on 05 January 2010 by VRS |  Email |Print

From Abcnews: With energy prices sagging, Oklahoma House Speaker Chris Benge said Monday he is studying the need for an energy stabilization fund to mitigate the financial fallout from volatile oil and natural gas prices.

The fund would capture excess revenue when prices are high and distribute it when they are low, thus providing a cushion to avoid massive budget cuts whenever prices fall, Benge said…………………………………..Full Article: Source

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Posted on 05 January 2010 by VRS |  Email |Print

From Mineweb.co.za: China must invest its massive foreign exchange reserves in oil and other strategic resources as part of its drive to diversify away from dollar assets, a central bank official said in remarks published on Monday.

Sheng Songcheng, director of a municipal branch of the People’s Bank of China in Shenyang city, said that such investments should be made by professional investment firms, which could purchase forex from the central bank…………………………………..Full Article: Source

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Posted on 05 January 2010 by VRS |  Email |Print

From Hotnews.ro: Romania’s National Central Bank entered in 2010 with over 28.3 billion euro reserves, compared to 28.7 billion euro on November 30, 2009, a press release of the central bank reads.
According to the same release, the entries - 2.761 billion euro came mainly from the modification of the minimum reserves constituted in banks…………………………………..Full Article: Source

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