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Sovereign Wealth Funds Briefing 18.Jan 2010

Posted on 18 January 2010 by VRS |  Email |Print

From Themalaysianinsider.com: Sovereign wealth funds (SWFs) — including the Government of Singapore Investment Corporation (GIC) — are feared more for what they are than for what they really do.

Such funds, which are owned by governments and funded by surpluses accumulated by the state, are often regarded with suspicion, especially in rich countries in Europe and America. There, such public money is typically used to build hospitals and schools, or returned to the needy — the jobless and elderly, if there’s any leftover…………………………………..Full Article: Source

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Posted on 18 January 2010 by VRS |  Email |Print

From Reuters: The recovery in the global economy could be surprisingly strong in the coming quarters, helped by emerging markets, the deputy chairman of Government of Singapore Investment Corp said on Monday.
The global economy is also likely to become more reliant on government policies such as liquidity support and asset purchases, Tony Tan told a forum in Taipei, noting that any withdrawal of such policies could derail the recovery if it is done too early or too sharply…………………………………..Full Article: Source

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Posted on 18 January 2010 by VRS |  Email |Print

From Dow Jones: Government of Singapore Investment Corp. Deputy Chairman Tony Tan said Monday that the global economy is on the rebound, but warned that the recovery could be derailed if recent monetary and fiscal policies are withdrawn prematurely.

“A key challenge for policy makers is how to properly time the withdrawal of unprecedented monetary and fiscal policies….However, policy makers run the risk of creating excessive inflation over the medium-term, if emergency-levels of policy stimulus are left unchanged for too long,” Tan said at an economic forum in Taipei…………………………………..Full Article: Source

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Posted on 18 January 2010 by VRS |  Email |Print

From Businessweek.com: Government of Singapore Investment Corp., manager of more than $100 billion of the city-state’s foreign reserves, said emerging markets will become a leading source of investment and credit as Western economies take longer to recover from the financial crisis.

The weakness in developed economies like the U.S. and Europe presents Asian institutions with a “once in a lifetime opportunity” to develop and mature, Tony Tan, deputy chairman of Singapore’s sovereign wealth fund, said today at the Commonwealth Economic Forum in Taipei…………………………………..Full Article: Source

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Posted on 18 January 2010 by VRS |  Email |Print

From Dailyexpress.com.my: Khazanah Nasional Bhd is still awaiting the government’s decision on toll restructuring, which will likely lead to better facilities and higher quality highways in the future.

Its managing director, Tan Sri Azman Mokhtar, said PLUS Expressway Bhd, which was among top ten toll road companies, has been running a pretty tight sheet in terms of better financial and reporting performance…………………………………..Full Article: Source

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Posted on 18 January 2010 by VRS |  Email |Print

From Observer.ug: A high level delegation from the Libya African Investments Portfolio – one of Libya’s largest sovereign wealth funds - arrived in the country on Saturday to assess their investments, and seek new opportunities for business.
The visit, includes chief executive officers of LAP, represents Libya’s growing confidence in Uganda’s economy, and the rising appetite to widen investments in the country…………………………………..Full Article: Source

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Posted on 18 January 2010 by VRS |  Email |Print

From Newvision.co.ug: Libya wants to invest in an oil refinery in Uganda should the Government decide to build one.

The manager of Oil Libya, which is a subsidiary of the African Investment Portfolio (LAP), Libya’s investment arm, told The New Vision yesterday that negotiations were starting today between Libya and the Government of Uganda over the matter…………………………………..Full Article: Source

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Posted on 18 January 2010 by VRS |  Email |Print

From Emerginvest.com: Sovereign wealth funds manage government investments and funds. The largest is the Abu Dhabi Investment Authority. It is also the least transparent. Sovereign funds invest according to the strategy of governments. What threats can be associated with them? Which countries are using sovereign funds mostly?

Many countries have long-term budget surplus, making the nation’s wealth to accumulate in the so-called sovereign wealth funds. The decision to establish its own sovereign wealth funds, however, paradoxically, are considering also the highly indebted countries such as Japan. Same need at the European Union expressed the French president Sarkozy…………………………………..Full Article: Source

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Posted on 18 January 2010 by VRS |  Email |Print

From Thenational.ae: “What has happened over the last couple of years is a dramatic increase in the size and importance of sovereign wealth funds, the increasing ownership of business by government and an increase in regulation,” J Frank Brown, the dean at the school, said yesterday on the sidelines of the Insead Leadership Summit in Abu Dhabi.

Current and future leaders of companies and governments needed to be trained to manage aspects of the growing relationship between businesses and states, Mr Brown said…………………………………..Full Article: Source

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Posted on 18 January 2010 by VRS |  Email |Print

From WSJ: SouthGobi is seeking US$462 million. CIC and Singapore sovereign wealth fund Temasek Holdings Pte. Ltd. each has pledged to purchase US$50 million in shares.
SouthGobi will close public subscriptions to its Hong Kong IPO on Wednesday, a day earlier than planned…………………………………..Full Article: Source

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Posted on 18 January 2010 by VRS |  Email |Print

From Chinaeconomicreview.com: China’s foreign exchange reserve grew US$126.5 billion in the fourth quarter of 2009, entering 2010 with a value of US$2,399 billion.
While early 2009 had been tumultuous due to a fall in global demand for Chinese exports and changes in the exchange value of the renminbi, Chinese forex reserves grew by a total of US$453 billion in 2009…………………………………..Full Article: Source

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