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Sovereign Wealth Funds Briefing 25.Mar 2010

Posted on 25 March 2010 by VRS |  Email |Print

From Thepeninsulaqatar.com: This month Carl Heinz Daube, the head of Germany’s formidable debt management agency, did something that would have seemed almost unimaginable - or unnecessary - five years ago.
He travelled to China and Singapore for a meeting with two of the world’s biggest investors - as part of an attempt to charm a new pool of investors, such as sovereign wealth funds - who might be willing to buy German government bonds……………………………..Full Article: Source

Posted on 25 March 2010 by VRS |  Email |Print

From Asiaone.com: The local bond market is buzzing - issuance has hit $5 billion even before the quarter has ended, helped in no small way by Temasek’s 5 benchmark issues over the last five months.

The Singapore dollar bond market has been small. Since 2006 issuance has averaged $10 billion to $12 billion a year although this rose to $16 billion in 2008 which included $5.9 billion issuances from the three local banks and Maybank……………………………..Full Article: Source

Posted on 25 March 2010 by VRS |  Email |Print

From Upstreamonline.com: Ghana’s Finance Minister is seeking to create two investment funds fed by future oil revenues that would fill budget gaps and preserve the West African country’s hoped-for energy wealth.
The proposal, posted today on the ministry’s web site, comes as the leading cocoa and gold producer seeks to avoid the pitfalls affecting many of the world’s energy exporters ahead of its own commercial output expected later this year……………………………..Full Article: Source

Posted on 25 March 2010 by VRS |  Email |Print

From Chinadaily.com.cn: Central Huijin, the domestic investment arm of the nation’s sovereign wealth fund, China Investment Corp, is seeking a capital injection of between $15 billion and $50 billion, in an effort to boost its capital base and prepare itself for the impending public offering of Chinese lenders, sources close to the sovereign fund said.

As the parent of the country’s three big lenders - Industrial and Commercial Bank of China, China Construction Bank and Bank of China (BOC) - Central Huijin will participate in the share sales, sources said……………………………..Full Article: Source

Posted on 25 March 2010 by VRS |  Email |Print

From Gulfnews.com: Mubadala Development Company, the Abu Dhabi government investment firm, is studying plans to invest in Yemen’s oil, gas and mining, and petrochemical industries, state-run WAM news agency reports.

A delegation from the company, who held talks with the Yemen’s oil minister in Sana’a, also proposed a partnership with Yemen’s Safer E&P Company to increase oil and gas production from Block 18 in Ma’rib province, WAM said……………………………..Full Article: Source

Posted on 25 March 2010 by VRS |  Email |Print

From Globalarabnetwork.com: Through the creation of sovereign wealth funds (SWFs), the Gulf States, along with their Asian counterparts, are now reaping rewards in strategic investments in US and European property and share holdings, as well as bolstering the liquidity of western banks, just when all these are facing a squeeze on capital.
The SWFs’ response to the 2007/08 sub-prime crisis, where Gulf-based funds have bought further into Citigroup, Merrill Lynch, UBS and other giants, highlights their leading role in the global economy……………………………..Full Article: Source

Posted on 25 March 2010 by VRS |  Email |Print

From Aljazeera.net: International bankers have gathered in the United Arab Emirates to finalise a multi-billion dollar debt plan to restructure the troubled Dubai World conglomerate.

Creditors from 97 banks met in Dubai on Wednesday to discuss ways to restructure the company’s $26 billion debt……………………………..Full Article: Source

Posted on 25 March 2010 by VRS |  Email |Print

From Theglobeandmail.com: Australia’s Future Fund, the country’s version of a sovereign wealth fund, says it won’t back Ontario Teachers’ Pension Plan and Canada Pension Plan Investment Board in its attempt to buy control of toll road operator Transurban.

CPPIB and Teachers’ floated a bid for Transurban last year that was rejected by the toll operator. Then, word came out that the Future Fund was going to join in, lending heft and credibility to the pursuit of the target……………………………..Full Article: Source

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