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Sovereign Wealth Funds Briefing 30.Jun 2010

Posted on 30 June 2010 by VRS |  Email |Print

From Telegraph: The Qatar Investment Authority (QIA), which owns Harrods and Chelsea Barracks in the UK, is thought to be considering investing as much as €250m (£202m) for a 7pc stake in Greece’s biggest lender.
The QIA already has a 4pc stake in Greece’s Alpha Bank, the third-largest lender, acquired through a holding company before the country’s debt crisis……………………………………….Full Article: Source

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Posted on 30 June 2010 by VRS |  Email |Print

From Reuters: Greece’s National Bank is not in talks to sell a stake to Qatar, an Athens-based source close to the issue said on Tuesday, denying a report on the Financial Times’ website.
Citing people familiar with the talks, the Financial Times said Qatar’s sovereign wealth fund, the Qatar Investment Authority (QIA), was in talks to acquire 5 percent to 7 percent of Greece’s biggest lender……………………………………….Full Article: Source

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Posted on 30 June 2010 by VRS |  Email |Print

From Zawya.com: Several Asian and Middle Eastern sovereign-wealth funds, including those of China and Dubai, are planning to create their own hedge funds to seek better returns on their nations’ accumulated wealth, two people familiar with the situation said.
One of these people said South Korea’s Korea Investment Corp and Singapore’s Temasek Holdings are two other sovereign-wealth funds setting up their own shops with assets ranging between $1 billion and $4 billion……………………………………….Full Article: Source

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Posted on 30 June 2010 by VRS |  Email |Print

From Arabtimesonline.com: Agricultural Bank of China (AgBank) is expected to set a price range on Monday for its Shanghai listing similar to the one determined for the bank’s Hong Kong offering, thus giving a clearer indication of the size of the IPO, which could be the world’s biggest.
Eleven cornerstone investors, including sovereign wealth funds in Qatar and Kuwait and United Overseas Bank, have agreed to buy $5.45 billion worth of AgBank shares, or nearly half of the Hong Kong offering, sources said……………………………………….Full Article: Source

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Posted on 30 June 2010 by VRS |  Email |Print

From AP: Agricultural Bank of China capped the price range for its upcoming public offering at a level much lower than expected in response to investors, an executive said Tuesday, but the world’s largest share listing is still projected to raise up to $23.2 billion.
The bank said in its Hong Kong prospectus that major foreign investors in the Hong Kong offering are Qatar Investment Authority ($2.8 billion), Kuwait Investment Authority ($800 million), Britain’s Standard Chartered Bank ($500 million), Dutch bank Radobank Nederland ($250 million), Australia’s Seven Group Holdings Ltd. ($250 million) and Singapore’s Temasek Holdings ($200 million)……………………………………….Full Article: Source

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Posted on 30 June 2010 by VRS |  Email |Print

From Frumforum.com: Consider that the Chinese Investment Corporation (CIC), formed in 2007, now has close to $2 billion invested in Canada (total Chinese investments are said to exceed $3.5 billion). CIC has some $300 billion in assets, and is said to hold $2 trillion of in U.S. currency reserves.
It’s almost a given that such an organization will actively protect what it has, will try to get more, and will wield influence wherever it can – including stealing, suborning, subverting, bribing, threatening……………………………………….Full Article: Source

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Posted on 30 June 2010 by VRS |  Email |Print

From Bloomberg: Indian Oil Minister Murli Deora traveled to Nigeria, Angola, Uganda, Sudan, Saudi Arabia and Venezuela this year, leading a record number of delegations to gain oil for the world’s third-fastest-growing major economy.
India proposed a sovereign wealth fund to bid for reserves, told state-controlled Oil & Natural Gas Corp. and Oil India Ltd. to make a major acquisition each this year, and raised the amount they can spend without government approval to 50 billion rupees ($1.1 billion)……………………………………….Full Article: Source

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Posted on 30 June 2010 by VRS |  Email |Print

From Bloomberg: Singapore Airlines Ltd. plans to sell bonds for the first time in almost a decade, taking advantage of low borrowing costs to tap a S$1 billion ($715 million) medium-term note program it set up in 2003. Singapore Airlines is 55 percent-owned by Temasek Holdings Pte.
The airline will issue S$500 million of 3.22 percent, 10- year notes on or about July 9 to raise money for working capital and expenditure, it said in a filing to the Singapore stock exchange today……………………………………….Full Article: Source

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Posted on 30 June 2010 by VRS |  Email |Print

From Ameinfo.com: Qatari Diar Real Estate Investment Company (Qatari Diar) has published its amended draft masterplan for the Chelsea Barracks site in London, in response to further public consultation.
The original concept masterplan, drawn up by Dixon Jones, Squire and Partners and Kim Wilkie Associates, (the masterplanning team) was launched in April this year after an initial phase of extensive public consultation……………………………………….Full Article: Source

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Posted on 30 June 2010 by VRS |  Email |Print

From Gulf-daily-news.com: Fitch Ratings has assigned Bahrain Mumtalakat Holding Company’s $750 million, five per cent notes, due on June 30, 2015, a final senior unsecured rating of ‘A’.
The programme’s final rating follows a review of its final terms and conditions which conform to the information already received when Fitch assigned the senior unsecured programme an expected ‘A’ rating………………………………………Full Article: Source

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Posted on 30 June 2010 by VRS |  Email |Print

From Bloomberg: Kenya’s National Social Security Fund, the state-run pension company, said its assets retreated 9.2 percent in the year through June 2009 as the value of stocks declined.
Assets fell to 82.15 billion shillings ($1.01 billion) from 90.51 billion shillings a year earlier, according to a statement published in the Nairobi-based Daily Nation newspaper today……………………………………….Full Article: Source

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