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Sovereign Wealth Funds Briefing 19.Aug 2010

Posted on 19 August 2010 by VRS |  Email |Print

Lou JiweiFrom Bloomberg: China’s $300 billion sovereign wealth fund may pick China Asset Management Co., the country’s largest fund manager, to oversee part of its international investments, said a person with direct knowledge of the matter.
China Investment Corp., which is responsible for managing part of the nation’s foreign-exchange reserves, would invest through China Asset’s Hong Kong unit, the person said, requesting anonymity as no announcement has been made……………………………………….Full Article: Source

Posted on 19 August 2010 by VRS |  Email |Print

Mohammed Ali YasinFrom Thenational.ae: Local markets are to receive a boost from Chinese investors. “There are limits on the Chinese investors that can invest abroad – the pension funds, the China Investment Corporation and the banks, which can create mutual funds that invest in certain markets, although I very much doubt they would be targeted at the Middle East,” said Ben Simpfendorfer, the chief Asia economist for Royal Bank of Scotland.
Growing economic links between China and the Middle East are likely to result in a number of significant investments, according to analysts……………………………………….Full Article: Source

Posted on 19 August 2010 by VRS |  Email |Print

From Peopledaily.com.cn: Central Huijin Investment Ltd., an arm of China’s sovereign wealth fund, said Thursday it will soon issue 187.5 billion yuan (27.6 billion U.S. dollars) of Renminbi-denominated bonds in its first ever bond sale.
The capital raised will allow Huijin, which already controls China’s largest banks, to further invest in the nation’s five leading banks this year, the company said in a statement……………………………………….Full Article: Source

Posted on 19 August 2010 by VRS |  Email |Print

From Dow Jones: Retail outlets at Las Vegas Sands Corp.’s (LVS) Marina Bay Sands casino resort in Singapore could generate annual sales of more than S$1 billion, said David Sylvester, senior vice president of Sands’ Asia retailing operations, who was once group general manager of the retail assets in Australia and China of GIC Real Estate, the real-estate arm of sovereign-wealth fund Government of Singapore Investment Corp.
Sylvester said Wednesday about 50 more shops will open at Marina Bay Sands in September, including Dior and Hermes outlets, bringing the total number of stores to over 150. When fully operational, Marina Bay Sands will have more than 300 stores and restaurants……………………………………….Full Article: Source

Posted on 19 August 2010 by VRS |  Email |Print

From Todayonline.com: Singapore’s initial public offering (IPO) market looks set to sizzle this year as two big share offerings this year. Chinese shipbuilder New Century Shipbuilding is rousing the market with talk that it would revive its IPO plans here, while GIC Real Estate - the property arm of the Government of Singapore Investment Corp - is expected to launch a massive US$3 billion ($4.05 billion) IPO.
Analysts are upbeat that there is sufficient liquidity in the market to absorb the massive share offerings from both firms and that they can also help boost the languishing market sentiment on IPOs……………………………………….Full Article: Source

Posted on 19 August 2010 by VRS |  Email |Print

From WSJ: Highland Hospitality could file for bankruptcy as economic woes squeeze the hotel industry. Highland Hospitality is in talks with Abu Dhabi Investment Authority and other possible investors about an infusion worth at least $200 million to possibly buy the company.
Financial woes at the 27-hotel chain, with holdings scattered from the Ritz-Carlton in downtown Atlanta to the Hilton Boston Back Bay, already have sparked maneuvering for control of Highland between JER Partners, Mr. Robert’s private-equity firm, and some of the creditors that include Wells Fargo & Co., Barclays PLC, Prudential Financial Inc. and Ashford Hospitality Trust……………………………………….Full Article: Source

Posted on 19 August 2010 by VRS |  Email |Print

From Tribune.com.ng: The nation’s foreign exchange reserves rose around three per cent to $38.2 billion by mid-August from $37.1 billion at the end of last month. Finance Minister, Olusegun Aganga had said that he wanted a sovereign wealth fund to replace the excess crude account, which has no clear constitutional basis.
Forex reserves stood at $43.3 billion a year earlier, but have fallen sharply since then due to demand pressure from importers and a reduction in accruals from oil export revenues……………………………………….Full Article: Source

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