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Sovereign Wealth Funds Briefing 23.Mar 2010

Posted on 23 March 2010 by VRS |  Email |Print

From Arabianbusiness.com: Qatar Investment Authority, the country’s sovereign wealth fund, invested $30 billion last year and may match that in 2010, Qatar’s prime minister said.

Speaking at a press conference in Doha on Monday with Bulgaria’s Prime Minister Boiko Borissov to announce a cooperation agreement between the two countries, Sheikh Hamad Bin Jasim Bin Jaber Al Thani said: “We are thinking to invest the same amount this year.”……………………………..Full Article: Source

Posted on 23 March 2010 by VRS |  Email |Print

From Reuters: Singapore sovereign wealth fund Temasek Holdings wants to increase its exposure to mining in Mongolia and is also looking for opportunities to invest in the mining sector in Africa.

“We made investments in Mongolia and we are fairly bullish about Mongolia,” said Nagi Hamiyeh, managing director of investments at Temasek, on the sidelines of a mining conference in Singapore on Tuesday………………………………Full Article: Source

Posted on 23 March 2010 by VRS |  Email |Print

From Arabfinance.com: Mubadala Development Co., an Abu Dhabi government-backed investor with stakes in Carlyle Group and Ferrari SpA, posted a total comprehensive income of 8.6 billion dirhams ($2.3 billion) last year on investment gains.

Revenue almost doubled to 13.1 billion dirhams and total assets rose 75 percent to 88.5 billion dirhams, Mubadala said in an e-mailed statement today. The main contributors to the revenue were Dolphin Energy Ltd., SR Technics and changes in the valuation of investments in Advanced Micro Devices Inc., Aldar Properties PJSC, and Emirates Integrated Telecommunications Co………………………………Full Article: Source

Posted on 23 March 2010 by VRS |  Email |Print

From Thenational.ae: Mubadala Development, the Government’s strategic investment arm, made Dh8.6 billion (US$2.3bn) in profits last year as revenues nearly doubled and the value of its investments surged, while its need for Government financing dwindled.

Mubadala’s energy and aviation subsidiaries contributed heavily to the profits, as did income from property developments and sales. A Dh3bn gain on stock in Advanced Micro Devices (AMD), the US microchip maker, and General Electric, the US conglomerate, also buoyed the results………………………………Full Article: Source

Posted on 23 March 2010 by VRS |  Email |Print

From Thenational.ae: Mubadala Development, the Abu Dhabi Government’s strategic investment arm, is becoming less reliant on government funding and diversifying its sources of revenue to lay the foundations for the next stage of growth, the company says.

Mubadala yesterday reported profits of Dh8.6 billion (US$2.34bn) for last year in its annual financial statement, and said it received Dh8.75bn in cash contributions from the Government………………………………Full Article: Source

Posted on 23 March 2010 by VRS |  Email |Print

From AFP: Abu Dhabi’s Mubadala Development Co., a stakeholder in luxury carmaker Ferrari, swung back to profit in 2009 as value of investments rebounded, posting Monday a 1.3 billion dollar profit.

The government-owned company posted 4.79 billion dirhams (1.3 billion dollars) in profit attributable to equity holders, compared to a loss of 11.44 (3.1 billion dollars) registered in 2008, according to an audited financial statement posted on the company’s website………………………………Full Article: Source

Posted on 23 March 2010 by VRS |  Email |Print

From Saba: Mubadala Development Company of United Arab Emirates voiced on Monday desire to invest in fields of in oil, gas and minerals in Yemen.

In a meeting with the Minister of Oil Amr al-Idarows, the delegation of the company presented a suggestion over holding a partnership of investment in Yemen including to be a partner with Safar Old Company to increase production in block No.18………………………………Full Article: Source

Posted on 23 March 2010 by VRS |  Email |Print

From Businessweek.com: Mubadala Development Co., an Abu Dhabi government-backed investor, will raise its stake in General Electric Co. as market conditions permit, Chief Operating Officer Waleed al Mokarrab said in a conference call.

Mubadala and GE “began deploying capital” from their $8 billion joint venture in the second half of last year, al Mokarrab said………………………………Full Article: Source

Posted on 23 March 2010 by VRS |  Email |Print

From Thenational.ae: From the canyons of Wall Street to the shores of the Gulf, calls for financial institutions to be more transparent are louder than ever. In the UAE, they do not appear to have fallen upon deaf ears.

Earlier this month the world’s largest sovereign wealth fund, ADIA, made its most extensive disclosure of its holdings to date. And as we report today, Mubadala, an investment vehicle owned by the Abu Dhabi Government and established to diversify the emirate’s economy, has released a comprehensive statement of its performance………………………………Full Article: Source

Posted on 23 March 2010 by VRS |  Email |Print

From Businessweek.com: Previ, the pension fund for Banco do Brasil SA employees, signed a memorandum of understanding with the sovereign wealth fund of Qatar to study a partnership in businesses in Brazil, Valor Economico reported, citing Previ President Sergio Rosa.

Previ has also had talks on possible partnerships with the sovereign wealth fund of China, the Sao Paulo-based newspaper said………………………………Full Article: Source

Posted on 23 March 2010 by VRS |  Email |Print

From Alaskadispatch.com: State employees get two kinds of benefits after they retire: pensions and non-pension benefits, like health care. Across the country, most state governments face growing challenges funding those benefits. Compared to other states, though, Alaska is an outlier.

Only five states have fully funded pensions, and no state is anywhere close to fully funding the non-pension benefits it owes. ……………………………..Full Article: Source

Posted on 23 March 2010 by VRS |  Email |Print

From Globaltimes.cn: Another China Investment Corp., a national assets management company arranged by State-owned Assets Supervision and Administration Commission of the State Council (SASAC) is expected to be established in the first half of 2010, said Shao Ning, deputy director of SASAC on March 21.

The second version of sovereign wealth fund will have an operational budget of state assets this year as its registered capital totaling 44 billion yuan ($6.45 billion)………………………………Full Article: Source

Posted on 23 March 2010 by VRS |  Email |Print

From WSJ: Dubai World may ask creditors for five to eight years to re-pay its $22 billion in debt as part of a restructuring proposal that could come as early as this week, people close to the matter say.

The Emirates-based, conglomerate and its creditors are also weighing a structure that would give creditors a share of the proceeds from asset sales, or possibly a share in future profit of the group, if it cannot fully meet its interest-payment obligations, one of these people said………………………………Full Article: Source

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