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Sovereign Wealth Funds Briefing 06.Aug 2010

Posted on 06 August 2010 by VRS |  Email |Print

From Reuters: Libya has put hundreds of millions of dollars into a London asset management firm to turn a profit while training up Libyans to plug the country’s shortage of financial experts, the firm’s chief executive said.
Oil exporter Libya has about $65 billion in its sovereign wealth funds but its investments to date have been modest partly because, after decades of international isolation, it does not have enough people who understand financial markets……………………………………….Full Article: Source

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Posted on 06 August 2010 by VRS |  Email |Print

From Skysports.com: The Chinese government’s foreign investment arm, China Investment Corporation, have denied funding a bid for Liverpool. The Chinese Government have been linked to a takeover bid fronted by Kenny Huang for the Anfield outfit.
Reports have suggested Huang’s takeover bid was backed by the state-funded China Investment Corporation (CIC). However, a spokesperson for CIC claims they are not involved in any bid for the English giants……………………………………….Full Article: Source

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Posted on 06 August 2010 by VRS |  Email |Print

From Guardian: Domestic and American banks; a Canadian mining firm; Coca Cola, Apple and Motorola – the companies in which China Investment Corporation has invested are a diverse bunch.
But even so, its reported interest in Liverpool is a striking anomaly. The club has nothing in common with the rest of the sovereign wealth fund’s portfolio……………………………………….Full Article: Source

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Posted on 06 August 2010 by VRS |  Email |Print

From Businessinsider.com: It appears China’s sovereign wealth fund, CIC, is preparing a bid for Liverpool Football Club of the English Premier League, according to The Guardian. Kenny Huang, who was preparing the bid for Liverpool, now appears to be linked to China’s sovereign wealth fund as their deal maker in the UK.
The bid is reportedly being financed through the sale of Morgan Stanley shares by the CIC, which amount to $558 million. That number is equivalent to Liverpool’s outstanding debt, which is 351.4 pounds, or $558 million……………………………………….Full Article: Source

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Posted on 06 August 2010 by VRS |  Email |Print

From Guardian: The China Investment Corporation (CIC), tipped as a backer for the Liverpool FC buyout, has more than $330bn to splash out and an open mind on how to spend it.
The China Investment Corporation (CIC) is a sovereign wealth fund set up three years ago by the communist government to get better returns from its huge foreign exchange reserves……………………………………….Full Article: Source

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Posted on 06 August 2010 by VRS |  Email |Print

From Globalresearch.ca: New Delhi’s proposal to establish a $10-billion sovereign wealth fund should be treated with caution. The necessary preconditions for setting up a SWF are squarely lacking in India. Besides, the purported objectives of the fund to pursue strategic investment opportunities abroad are highly debatable.
It appears that New Delhi is blindly following a “me-too” approach rather than understanding the rationale behind setting up such funds. What are sovereign wealth funds? In simple terms, SWF is a large pool of assets and investments owned and managed (directly or indirectly) by a national or state government……………………………………….Full Article: Source

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Posted on 06 August 2010 by VRS |  Email |Print

From Todayonline.com: Singapore investment company Temasek Holdings is ploughing US$35 million ($46.3 million) into Tudou, accounting for the largest portion of the Chinese online video company’s latest round of equity financing worth US$50 million.
Temasek’s investment in Shanghai-based Tudou is its first in the Internet sector in China, which boasts the most number of online users in the world……………………………………….Full Article: Source

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Posted on 06 August 2010 by VRS |  Email |Print

From Channelnewsasia.com: Temasek Holdings is setting up two non-profit philanthropic foundations. The Temasek Education Foundation and the Temasek International Foundation will oversee five endowments, named after five Singapore pioneers to honour and recognise their contributions in nurturing talent and promoting international fellowship.
A total of S$165 million will support the five new endowments under the Temasek Education Foundation and the Temasek International Foundation……………………………………….Full Article: Source

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Posted on 06 August 2010 by VRS |  Email |Print

Adjustments China makes in the domestic real estate market provide great opportunities for international capital, which is snapping projects there in the mode of funds.
Mapletree Investments, a unit of Singapore-based Temasek Holdings, said recently that with the completion of the investment of Mapletree India China Fund, it would establish an about USD 1 billion fund to aim at commercial complexes in first-tier Chinese cities……………………………………….Full Press Release: Source

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Posted on 06 August 2010 by VRS |  Email |Print

From Bloomberg: Axiom Asia Private Capital, run by former managers of Government of Singapore Investment Corp., plans to allocate more money to Vietnam and other private-equity markets that are shunned by most investors.
The Singapore-based firm, which oversees $1.4 billion, has put money into private-equity funds that focus on Taiwan as a “proxy way of playing China,” said Marc Lau, an investment director at Axiom……………………………………….Full Article: Source

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Posted on 06 August 2010 by VRS |  Email |Print

From Straitstimes.com: The Government of Singapore Investment Corp (GIC) is one step closer to launching what could be the second-largest public listing here. People familiar with the deal said GIC has added three more financial institutions to its group of underwriters for the upcoming initial public offering (IPO) of its property and logistics unit.
The sources told Reuters on Thursday that Singapore’s DBS Bank, Swiss bank UBS and China International Capital Corp (CICC) will join JPMorgan and Citigroup as joint coordinators for the IPO of GIC’s Global Logistic Properties (GLP)……………………………………….Full Article: Source

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Posted on 06 August 2010 by VRS |  Email |Print

From Todayonline.com: The market is abuzz with talk that the real estate arm of the Government of Singapore Investment Corp (GIC) intends to list property assets on the Singapore Exchange (SGX) in a move that could raise a whopping US$3 billion ($4 billion).
That is higher than the previously estimated share sale worth US$2 billion, as a result of higher valuations in GIC Real Estate’s portfolio. This will make GIC RE’s IPO the biggest in 17 years since SingTel’s listing in 1993, as well as CapitaMalls Asia’s US$2 billion listing last year. When contacted by MediaCorp yesterday, GIC declined to comment……………………………………….Full Article: Source

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Posted on 06 August 2010 by VRS |  Email |Print

From Bi-me.com: Mubadala Oil and Gas, a business unit of Mubadala Development Company, will look at BP PLC assets going on sale but is not in direct talks, a senior company official said Thursday.
“Like most oil companies that are expanding, we will be looking at what’s available,” David Douglas, senior vice president at Mubadala’s oil and gas unit, told Zawya Dow Jones on the sidelines of an event in Abu Dhabi……………………………………….Full Article: Source

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Posted on 06 August 2010 by VRS |  Email |Print

From Reuters: The Libyan central bank’s 4.613 percent stake in Unicredit SpA is unchanged after a Libyan sovereign wealth fund acquired a 2.075 percent stake in the firm, a Libyan central bank official said on Thursday.
“The share of the central bank of Libya remains the same… What has been bought by the LIA (Libyan Investment Authority) is not from the central bank’s stake. The LIA bought it on their own and independently of the central bank,” the official, who did not want to be identified, told Reuters……………………………………….Full Article: Source

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Posted on 06 August 2010 by VRS |  Email |Print

From Bloomberg: Apollo Global Management LLC and the French government’s strategic investment fund offered to buy aluminum producer Alcan EP from Rio Tinto Plc for an undisclosed amount.
Apollo would take 51 percent of the company and the French fund would buy another 10 percent, according to an e-mailed statement today. Rio Tinto would keep a 39 percent holding……………………………………….Full Article: Source

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Posted on 06 August 2010 by VRS |  Email |Print

From Globes.co.il: The Bank of Israel’s foreign currency reserves rose by $1.22 billion in July 2010 to $64.31 billion, the highest amount since April.
The increase in the foreign currency reserves was due to a $1.43 billion revaluation caused by the euro’s 6% rise against the dollar, which increased the reserves in dollar terms. This was offset by a $204 million in government transfers overseas and a $13 million reduction in reserves held by the private sector……………………………………….Full Article: Source

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