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Sovereign Wealth Funds Briefing 14.Jun 2010

Posted on 14 June 2010 by VRS |  Email |Print

From : Singapore’s state investment fund Temasek plans to invest up to US$300mil in Agricultural Bank of China, ahead of the latter’s roughly US$20bil IPO, a source said.
Temasek’s commitment to China’s third largest bank is a positive step for the offering, though it is less than the US$1bil that AgBank’s underwriters are hoping to get from Middle East and Asian sovereign wealth fund cornerstone investors…………………………………………Full Article: Source

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Posted on 14 June 2010 by VRS |  Email |Print

From Bloomberg: Kuwait Investment Authority, the country’s sovereign wealth fund, said it is interested in investing in the Agricultural Bank of China Ltd.
“Yes, we are interested in A.B.C.,” the fund’s Managing Director Bader al-Saad told Bloomberg as he left a meeting in Kuwait’s parliament today. Al-Saad declined to comment on how much the fund would be interested in investing in Agricultural Bank of China…………………………………………Full Article: Source

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Posted on 14 June 2010 by VRS |  Email |Print

From China Knowledge: Hong Kong Exchanges and Clearings Ltd has approved Agricultural Bank of China’s initial public offering plan in Hong Kong. Currently, China’s sovereign wealth fund and the Ministry of Finance jointly own over 96% of ABC.
The HKEx’s approval helps eliminate the last barrier for the IPO…………………………………………Full Article: Source

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Posted on 14 June 2010 by VRS |  Email |Print

From Reuters: Under pressure from Beijing to post better returns, China’s sovereign wealth fund has placed a greater emphasis on short-term performance this year, two sources with direct knowledge of the fund’s strategy said.
That is a shift for China Investment Corp (CIC), which manages some $300 billion, after consistently emphasising its strategy of seeking long-term returns, and may mean the world’s fifth largest state-run investor may prefer more liquid investments such as equities…………………………………………Full Article: Source

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Posted on 14 June 2010 by VRS |  Email |Print

From Bangkokpost.com: The Thai government is proposing to buy Thaicom Plc from Singapore-based Temasek Holdings to avoid future conflicts stemming from the use of the company’s satellites to air anti-government broadcasts, according to an industry source.
Finance Minister Korn Chatikavanij and Sirichok Sopha, the prime minister’s secretary, flew to Singapore in mid-April as political protests were escalating to meet Temasek executives with two proposals, said the source, who asked not to be named…………………………………………Full Article: Source

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Posted on 14 June 2010 by VRS |  Email |Print

From Gulf-times.com: State Street president and CEO Jay Hooley has expressed his company’s desire to do more business with the local Sovereign Wealth Fund (SWF) and other Qatari institutions “that drive some of the most important asset portfolios”.
The US-based Hooley has been in Doha to visit State Street’s regional headquarters in the city and meet investors in the country. In his talks with investors, Hooley said he had observed their risk appetite coming in…………………………………………Full Article: Source

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Posted on 14 June 2010 by VRS |  Email |Print

From Gulf-times.com: Qatar with its huge natural resources and thrust on infrastructure development feels like a “very vibrant” place, State Street president and CEO Jay Hooley has said. “We would like to do more business with the local Sovereign Wealth Fund (SWF) and other Qatari institutions that drive some of the most important asset portfolios,” Hooley said.
“In the last one and a half years since we have been here, I have seen the emergence of buildings and new infrastructure in Qatar. This feels like a very vibrant place. It looks like an attractive place to do business – for both investing in and servicing assets…………………………………………Full Article: Source

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Posted on 14 June 2010 by VRS |  Email |Print

From Khaleejtimes.com: Dubai International Capital (DIC), which effectively acts like a sovereign wealth fund for Dubai, on Sunday confirmed that its board was dissolved earlier this year amid restructuring plans and said it is under supervision of its parent company.
In a statement, the company said the DIC board was dissolved in January, after a report in the UK’s Sunday Times newspaper mentioned Sameer Al Ansari, former chief executive of DIC, as having left his non-executive role on the board…………………………………………Full Article: Source

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