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Sovereign Wealth Funds Briefing 15.Jun 2010

Posted on 15 June 2010 by VRS |  Email |Print

From Reuters: Norway’s sovereign wealth fund rose by 1.60 percent in May to a preliminary 2.802 trillion Norwegian crowns ($436.6 billion) from 2.758 trillion at the end of April, central bank data showed on Monday.
The fund’s value has risen from 2.637 trillion crowns at the end of 2009………………………………………….Full Article: Source

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Posted on 15 June 2010 by VRS |  Email |Print

From Harvard.edu: This research deals with the question of sovereign wealth funds’ investments from a comparative perspective. Based on a unique holding-level data for a group of sovereign funds and mutual funds, it shows that the differences in equity investments between SWFs and other institutional investors are less pronounced than suspected.
This is illustrated by comparing the geographical/sector allocation and the targeted firms’ profile. A new dimension of analysis is introduced: the political regime in the sending and recipient countries. Evidence suggests that SWFs and mutual funds’ investments converge when looking at the political profile of targeted countries………………………………………….Full Article: Source

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Posted on 15 June 2010 by VRS |  Email |Print

From Efinancialnews.com: A senior investment figure at one of the world’s biggest sovereign wealth funds has slammed the buyout industry, accusing it of “greed” and of “putting its own interests ahead of those signing the cheques”.
Private equity firms need to fix their businesses by better aligning their interests with investors’ and examining fees paid on their funds, according to Hesham Al-Quraini, vice-president of the Kuwait Investment Office, the City of London branch of the country’s sovereign wealth fund………………………………………….Full Article: Source

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Posted on 15 June 2010 by VRS |  Email |Print

From Bloomberg: Qatari Diar Real Estate Investment Co., part of the emirate’s sovereign-wealth fund, deleted e-mail evidence and let witnesses lie during a trial over a botched deal to build luxury apartments at London’s Chelsea Barracks, U.K. developer CPC Group Ltd. told a judge.
Qatari Diar “deliberately destroyed” relevant e-mails while its law firm, Herbert Smith, failed before last month’s trial to search a server in London that held messages deleted from one in Doha, CPC lawyer Anthony Stephen Grabiner said………………………………………….Full Article: Source

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Posted on 15 June 2010 by VRS |  Email |Print

From Arabtimesonline.com: Microsoft Kuwait announced that Global Innovation Company which works under National Technology Enterprise Company (NTEC), (a subsidiary of Kuwait Investment Authority) has been selected as the Network Partner for the Microsoft BizSpark Program in the region.
In the presence of His Excellency Mr Mustafa Al-Shamali, Minister of Finance of Kuwait and Ali Faramawy, Vice-President, Microsoft International, a Memorandum of Understanding (MoU) was signed today between Bader Al Saad, Managing Director, Kuwait Investment Authority and Ehab Mostafa, General Manager, Microsoft Kuwait…………………………………………Full Article: Source

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Posted on 15 June 2010 by VRS |  Email |Print

From Thestar.com.my: The decision by Khazanah Nasional Bhd’s UEM Group Bhd to hive off Pharmaniaga Bhd does not run counter to its focus on healthcare, a source close to the Government investment arm said.
“Khazanah’s preference is to invest in hospitals and not pharmaceuticals. That explains why UEM’s stake in Pharmaniaga has been up for sale for some time now,” said the source………………………………………….Full Article: Source

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Posted on 15 June 2010 by VRS |  Email |Print

From Channelnewsasia.com: Temasek Holdings and two Middle Eastern sovereign wealth funds have agreed to invest in the Agricultural Bank of China’s planned listing in Hong Kong and Shanghai.
According to wires reports, the Qatar Investment Authority and the Kuwait Investment Authority will be joining the Singapore investment firm in being key stake holders, though final commitment amounts are still being negotiated………………………………………….Full Article: Source

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Posted on 15 June 2010 by VRS |  Email |Print

From WSJ: Thailand said Monday it was seeking to buy a substantial stake in Thaicom PCL, from Singapore’s state-owned investment company Temasek Holdings Pte. Ltd., sending shares of the satellite operator skyrocketing.
Temasek acquired its Thaicom interests in 2006, when it bought a stake in its parent Shin Corp., the telecommunications conglomerate founded by former Prime Minister Thaksin Shinawatra………………………………………….Full Article: Source

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Posted on 15 June 2010 by VRS |  Email |Print

From Todayonline.com: The Government of Singapore Investment Corporation (GIC) may see a lower return on investment for its stake in BP, if the British oil giant goes ahead with a plan to suspend dividend payments due to the clean up of the oil spill in the Gulf of Mexico, said analysts.
BP’s management is expected to meet this week to deliberate its dividend policy, after the Deepwater Horizon oil-rig sank in the Gulf of Mexico on April 20 and caused the worst oil spill in US history………………………………………….Full Article: Source

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Posted on 15 June 2010 by VRS |  Email |Print

From Efinancialnews.com: Hesham Al-Quraini, vice-president of Kuwait Investment Office, a branch of the country’s sovereign wealth fund, said: “Management fees, originally designed to keep the lights on, now bring mouth-watering figures, with fund managers driving Porsches while investors drive Hyundais.”
The declines come as private equity firms struggle to raise funds amid volatile markets, brittle economic growth and scepticism towards the asset class………………………………………….Full Article: Source

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