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Sovereign Wealth Funds Briefing 04.Jun 2010

Posted on 04 June 2010 by VRS |  Email |Print

From Bloomberg: Sovereign wealth funds may consider shifting some of their investments in euro-denominated assets into emerging-market countries, said Goldman Sachs Asset Management’s Sam Finkelstein.
“They’re probably now questioning some of their holdings of European countries and the fate of the euro as a reserve currency,” Finkelstein, head of emerging-market debt at Goldman Sachs Asset Management, said at a LatinFinance conference in London today………………………………………..Full Article: Source

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Posted on 04 June 2010 by VRS |  Email |Print

From Theindependent.co.zw: Zimbabwe’s cABC is lobbying government to set up a Sovereign Wealth Fund (SWF) and implement a broad-based empowerment policy amid a deadline extension for foreign-owned companies to submit their empowerment plans to government.
Blessing Mudavanhu, BancABC group chief risk officer, told journalists and investment analysts at a seminar last Friday that treasury could take a leading role on the country’s empowerment policy………………………………………..Full Article: Source

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Posted on 04 June 2010 by VRS |  Email |Print

From Meed.com: As the increased acquisition activity of Qatar’s sovereign wealth fund in May shows, the Qatar Investment Authority is likely to be a key beneficiary of the funds, so too the Qatar Foundation, which is playing a leading role in laying the foundations for the development of a knowledge economy.
With the natural pause in industrial development brought about by the moratorium on further development of the North Field, the projects focus will now shift to infrastructure development………………………………………..Full Article: Source

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Posted on 04 June 2010 by VRS |  Email |Print

From Meed.com: A report by the US’ Carnegie Endowment for International Peace, ranked Qatar Investment Authority among the world’s least transparent sovereign wealth funds, far below that of China, Azerbaijan and Timor Leste. The lack of disclosure is not unique to Qatar; Kuwait’s wealth fund fared only marginally better.
Together with two Russian wealth funds, Kuwait and Qatar represent about 20 per cent of the total assets under management by sovereign funds worldwide, yet, as Carnegie says, they provide only rudimentary information about their activities………………………………………..Full Article: Source

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Posted on 04 June 2010 by VRS |  Email |Print

From Arabtimesonline.com: Nearly three quarters (74 percent) of elites would approve of investment coming from Kuwait, according to the Sovereign Brands Survey 2010, the most extensive study into the attitudes of global broad elites to sovereign wealth as a concept, the reputation of host nations and sovereign wealth funds (SWFs).
This figure is the highest for any of the Middle East countries covered in the survey. Conducted by Hill & Knowlton and Penn Schoen Berland, two of the world’s pre-eminent communications, research and strategy consultants, the study interviewed elites in 7 marketsii on their views of 19 host countries and their SWFs………………………………………..Full Article: Source

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Posted on 04 June 2010 by VRS |  Email |Print

From Vanguardngr.com: Oil producing communities and other stakeholders in Delta State have demanded the inclusion of proceeds from the Excess Crude Account to the 50 percent of the 13 percent Derivation Fund allocated to the Delta State Oil Producing Areas Development Commission, DESOPADEC, by the state government.
Each speaker at a brainstorming session by a Committee recently inaugurated by the state government to review the laws of DESOPADEC, yesterday, at Effurun, Delta State, frowned at a situation where money from the Excess Crude Account was not calculated as part of the money that should go into the funding of DESOPADEC activities………………………………………..Full Article: Source

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Posted on 04 June 2010 by VRS |  Email |Print

From Reuters: The European Bank for Reconstruction and Development (EBRD) said on Thursday it had teamed up with Kazakhstan’s sovereign wealth fund to invest a total $121.5 million in a fund aimed at helping the restructuring efforts of Kazakh businesses.
The London-based development bank said it would invest in the ADM Kazakhstan Capital Restructuring Fund (KCRF) jointly with the country’s Samruk-Kazyna sovereign wealth fund………………………………………..Full Article: Source

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Posted on 04 June 2010 by VRS |  Email |Print

From Bloomberg: Kazakhstan’s National Wellbeing Fund Samruk-Kazyna sees “potential” for initial public offerings of shares in its KazMunaiGaz National Co. and Kazakhstan Temir Zholy units, Chief Executive Officer Kairat Kelimbetov said.
The fund also sees potential for an IPO of its Development Bank of Kazakhstan unit, Kelimbetov said. Samruk-Kazyna owns 100 percent of all three units, according to its website. Uranium miner Kazatomprom won’t be listed, he said in an interview today in Almaty………………………………………..Full Article: Source

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Posted on 04 June 2010 by VRS |  Email |Print

From Latimes.com: The whole egalitarian social democratic model is actually sustained by Norway’s vast exports of oil and gas, the revenues from which it has been stashing away into what is now the world’s second-largest sovereign wealth fund, with a value of about $440 billion.
If the fund goes on growing as it has been, it will even — uniquely in Europe — almost cover the future pension obligations for an aging population………………………………………..Full Article: Source

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Posted on 04 June 2010 by VRS |  Email |Print

From Businessspectator.com.au: Australia’s resource super profits tax (RSPT) should be redesigned or abandoned, according to Future Fund chairman David Murray.
Murray said applying the tax to existing projects, and not proposing to save any of the returns, was short-sighted and the structure needed to be changed………………………………………..Full Article: Source

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