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Sovereign Wealth Funds Briefing 20.Jan 2010

Posted on 20 January 2010 by VRS |  Email |Print

From Globalpensions.com: Norway’s Government Pension Fund Global has shed its NOK13.7bn (US$2.4bn) investment in 17 tobacco producing companies including Philip Morris and British American Tobacco.
The Norwegian Ministry of Finance said it made the decision to divest based on recommendations it received from the Council on Ethics, new government frameworks and a World Health Organisation treaty regarding tobacco……………………………….Full Article: Source

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Posted on 20 January 2010 by VRS |  Email |Print

From Themalaysianinsider.com:Temasek Holdings — which recently exited the Singapore power industry by selling the three biggest generating companies here — may now be entering the power sector of Asian powerhouse India.

Indian conglomerate GMR Infrastructure — which has been trying to establish a presence in Singapore’s energy sector and earlier bid for the gencos here — is reportedly in advanced talks with Temasek to raise US$150 million by selling shares in its power unit GMR Energy……………………………….Full Article: Source

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Posted on 20 January 2010 by VRS |  Email |Print

From Efinancialcareers-gulf.com: The increasing trend of sovereign wealth funds (SWF) managing more of their money in-house is likely to spur demand for asset management professionals within the state-backed entities.

Currently, around a third of the estimated $3 trillion in SWF assets is run by external asset managers, according to research by State Street, but this looks set to shrink……………………………….Full Article: Source

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Posted on 20 January 2010 by VRS |  Email |Print

From Allafrica.com: Supreme Court of Nigeria yesterday gave the Federal Government till March 18, 2010 to ratifyan agreement reached with aggrieved states of the Federation in the legal battle instituted by the states over Excess Crude Account.

The states have also increased from the initial 20 to 30 as at January 14, 2010 when they wrote a letter to the Minister of Finance Mansur Mukhtar conveying their disappointment on the Federal Government’s non-challant approach to the agreement……………………………….Full Article: Source

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Posted on 20 January 2010 by VRS |  Email |Print

From Marketwatch.com: German utility E.On AG and Masdar, a unit of Abu Dhabi-based Mubadala Development Company, announced Tuesday an agreement to establish E.On Masdar Integrated Carbon (EMIC), a joint venture focused on developing carbon-emission reduction projects on the global market.
The new company plans to monetize emission reductions resulting from improving the energy efficiency of industrial facilities……………………………….Full Article: Source

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Posted on 20 January 2010 by VRS |  Email |Print

From Nasdaq.com: The China-Africa Development Fund has invested nearly US$540 million to support 27 projects in Africa, which will likely lead to investment of about US$3.6 billion in the continent by Chinese companies, China’s Ministry of Commerce said Tuesday.

The fund, which was created by the Chinese government in 2007 and seeded with US$1 billion from China Development Bank Corp., makes equity investments that support Chinese investments in Africa……………………………….Full Article: Source

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Posted on 20 January 2010 by VRS |  Email |Print

From Abc.az: Yesterday at the session chaired by President Ilham Aliyev the Azerbaijani government summarized results of country’s socio-economic development in 2009. President Aliyev stated that today country’s currency reserves totaled $20.4 bn.

“This is a big sum to allow us to feel ourselves very confident in the future as well. We don’t need any assistance and live at our own expense. If to take into account that due to measures taken in 2010 it will be carried out large work and I am sure that following 2010 our currency reserves will grow,” he said……………………………….Full Article: Source

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Posted on 20 January 2010 by VRS |  Email |Print

From Balkans.com: Albania’s foreign currency reserves were 1.7 billion euros in the third quarter of 2009, the central bank reported.

“At the end of third-quarter 2009, foreign currency reserves reached 1.736 million euros, sufficient to cover 4.2 months of imports of goods and services, the Bank of Albania (www.bankofalbania.org) said in a statement……………………………….Full Article: Source

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Posted on 20 January 2010 by VRS |  Email |Print

From Balkans.com: Serbia’s 2009 euro-denominated hard currency reserves rose by 2.4 billion euros to a preliminary 10.6 billion euros, mainly fuelled by the country’s external borrowing from multilateral lenders, the central bank said.

In December alone, official reserves rose by 563 million euros, as the government drew a 350-million-euro loan tranche from the International Monetary Fund, a further 50 million euros in macro-economic assistance from the European Union, as well as 49.5 million euros in loans from the European Investment Bank……………………………….Full Article: Source

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