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Sovereign Wealth Funds Briefing 17.Jun 2010

Posted on 17 June 2010 by VRS |  Email |Print

From Indiatimes.com: Malaysian sovereign wealth fund Khazanah is close to buying a controlling stake in Aman Resorts from debt-laden DLF for about $300-$350 million, people familiar with the matter said.
The deal may not include Aman’s New Delhi property, and, if concluded, will help India’s largest real estate company cut its Rs 14,000 crore debt pile.DLF is being advised by Goldman Sachs and JP Morgan……………………………………………Full Article: Source

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Posted on 17 June 2010 by VRS |  Email |Print

From Marketwatch.com: Asian sovereign wealth funds China Investment Corp., Korea Investment Corp. and Singapore state-owned investment company Temasek Holdings will jointly invest $1.5 billion in U.S. natural-gas producer Chesapeake Energy Corp. The Chosun Ilbo reported Thursday, citing an unnamed South Korean government official.
The report said the consortium will reach a formal agreement with Chesapeake by early next week, and that Korea Investment Corp., or KIC, would be investing $200 million in convertible preference shares……………………………………………Full Article: Source

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Posted on 17 June 2010 by VRS |  Email |Print

From Gulf-daily-news.com: Bahrain’s sovereign wealth fund has joined a rush by Gulf entities to market bonds and, according to a source at one of the arranging banks, it plans to meet Asian and European fixed income investors from today.
Mumtalakat has appointed Deutsche Bank, HSBC, JPMorgan and Standard Chartered to arrange the meetings……………………………………………Full Article: Source

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Posted on 17 June 2010 by VRS |  Email |Print

From Juneauempire.com: The Alaska Permanent Fund Corp. will give raises to nearly one-third of its staff beyond cost of living, saying wages have fallen behind similar positions. The Permanent Fund’s Board of Trustees voted unanimously in favor of the decision during a meeting Monday.
Ten employees will be immediately affected by the new salary schedule; five topped out at the old schedule and five were at the bottom and will be brought up by the new schedule, Permanent Fund Executive Director Mike Burns said……………………………………………Full Article: Source

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Posted on 17 June 2010 by VRS |  Email |Print

From Bloomberg: The governments of Norway, Kuwait, China and Singapore have lost 3.4 billion pounds ($5 billion) on BP Plc’s share slide since the Gulf of Mexico oil spill started in April, data compiled by Bloomberg show.
The sovereign wealth funds were four of the 12 largest holders of BP’s London-traded shares at the start of May, the data show. Norway’s state fund held 336 million shares, or 1.79 percent of the company, a stake that’s dropped 1.1 billion pounds in value since the April 20 explosion aboard a rig in the Gulf of Mexico killed 11 workers……………………………………………Full Article: Source

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Posted on 17 June 2010 by VRS |  Email |Print

From Abc.az: The Central Bank of Azerbaijan, running statistics of payment balance, reports that over the first quarter of 2010 the State Oil Fund of Azerbaijan received the highest income from placement of assets abroad.
The CBA informs that as of 1 April 2010 SOFAZ received $62.2 million as an earning from placement while the CBA itself earned only $5.9 million. For the reported term earnings of second level banks from assets placement abroad reached only $1.9 million……………………………………………Full Article: Source

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Posted on 17 June 2010 by VRS |  Email |Print

From Reuters: Nigeria’s state governors voiced opposition to having a sovereign wealth fund manage the country’s oil wealth, an early sign that new Finance Minister Olusegun Aganga will have to fight for reforms.
Aganga has championed the idea of a sovereign fund to help Africa’s most populous nation save some of its oil revenues for the future, invest in critical infrastructure and help stabilise the OPEC member’s finances when world oil prices are volatile……………………………………………Full Article: Source

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Posted on 17 June 2010 by VRS |  Email |Print

From Allafrica.com: Nigeria’s excess crude account has further shrunk to $3.2 billion from $4.6 billion last month, the Accountant General of the Federation said yesterday.Ibrahim Hassan Dankwambo said in Abuja at the Federation Accounts Allocation Committee (FAAC) that the reduction was because federal government dipped into the account to pay receipts such as subsidy to the oil marketers.
He did not say how much was paid to the marketers but however said in a communiqué issued after the FAAC meeting that N22. 7 billion was taken from the account to augment revenue shortfall for the month of May……………………………………………Full Article: Source

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Posted on 17 June 2010 by VRS |  Email |Print

From Independent: The Libyan government is pouring hundreds of millions of dollars into a new hedge fund set to open in London. As well as managing money on behalf of funds linked to the Libyan government, it will also offer a training scheme for professionals from the north African state’s nascent finance industry and sovereign wealth funds.
The investment in FM Capital Partners, which will be based in the city’s Knightsbridge district, is a move on the part of the North African state to develop a cadre of professionals versed in the ins and outs of the financial services industry, the newspaper said……………………………………………Full Article: Source

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Posted on 17 June 2010 by VRS |  Email |Print

From Tradearabia.com: The chairman of China’s sovereign wealth fund, which manages $300 billion in assets, will visit Egypt to discuss infrastructure and other possible investments in the Arab world’s most populous nation, a minister said.
Egypt, whose economy has kept growing at around 5 per cent throughout the global financial crisis, wants to push foreign direct investment (FDI) back to around $10 billion a year, the level it hit before the world downturn……………………………………………Full Article: Source

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Posted on 17 June 2010 by VRS |  Email |Print

From Corporateobserver.com.sg: From Corporateobserver.com.sg: Singapore government investment arm Temasek Holdings is set to expand its commodities portfolio – this time by an indirect investment in Toronto-listed miner Platmin Ltd.
South Africa-based Platmin Ltd, which explores for platinum group metals (PGMs), announced in a regulatory filing that Ridgewood Investments - an indirect subsidiary of Temasek Holdings, Dutch pension fund Algemene Pensioen Groep and Platmin’s largest shareholder, Pallinghurst Investor Consortium – will subscribe for US$50 million (S$69.2 million) of common shares, as part of Platnim’s efforts to raise US$250 million through an equity issue…………………………………………..Full Article: Source

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Posted on 17 June 2010 by VRS |  Email |Print

From Asiaone.com: The surge took place as word spread that the Thai government would buy back Thaicom’s satellite business from Singapore’s Temasek Holdings.
Prime Minister Abhisit Vejjajiva yesterday refused to say whether such a purchase would actually be made……………………………………………Full Article: Source

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Posted on 17 June 2010 by VRS |  Email |Print

From Stuff.co.nz: The New Zealand Superannuation Fund made a paper loss of $844.9 million, or 4.8 percent, last month, when global markets got the jitters over Europe’s sovereign debt crisis.
The so-called Cullen Fund, which was set up by Labour Finance Minister Michael Cullen to partially fund pensions for an aging population, halted a three-month gain in a month when markets threatened to cause a ‘double-dip’ recession amid fears sovereign debt issues in Europe could trip up the global economic recovery……………………………………………Full Article: Source

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