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Sovereign Wealth Funds Briefing 29.Sep 2010

Posted on 29 September 2010 by VRS |  Email |Print

From Reuters: China’s possible bid for Potash illustrates the priority some surplus-rich countries still put on pursuing strategic national goals with their windfall cash and risks a regulatory backlash against sovereign wealth funds.
Sources say China’s state-owned Sinochem could bid for the Canadian firm (POT.TO), possibly partnering with its wealth fund CIC or Singapore’s Temasek, in a deal worth almost $40 billion……………………………………….Full Article: Source

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Posted on 29 September 2010 by VRS |  Email |Print

From Todayonline.com: The Government of Singapore Investment Corporation’s (GIC) disclosure policy is akin to that of an Indian dancer at a nightclub who swivels and shakes her body a lot, and smiles a lot but reveals little. So it was not much of a surprise that little came out of Monday’s briefing by our largest sovereign wealth fund.
Yes, we were told that as at end-March this year, the 20-year nominal average rate of return annually was 7.1 per cent in US-dollar terms, and the real rate of return, above global inflation, was 3.8 per cent during the same period……………………………………….Full Article: Source

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Posted on 29 September 2010 by VRS |  Email |Print

From Bloomberg: Government of Singapore Investment Corp., manager of more than $100 billion of reserves, said real estate and private equity in emerging economies will present more rewarding opportunities than equity markets.
“While publicly listed equities is likely to remain GIC’s main implementation vehicle for our emerging market strategy, our view is that the private markets such as real estate and private equities will present even more rewarding opportunities,” GIC’s Chief Investment Officer Ng Kok Song said………………………………………Full Article: Source

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Posted on 29 September 2010 by VRS |  Email |Print

From Business-standard.com: Apollo Hospitals, Asia’s largest integrated healthcare company, will shortly initiate a dialogue with Malaysian sovereign wealth fund Khazanah to explore possible partnerships in India and the Asean region.
“We have an excellent understanding with Khazanah. But they have been busy with the Parkway acquisition, and we haven’t been able to have a one-to-one with them. Hopefully, we will soon be able to discuss opportunities both within India and across the entire Asean,” said Apollo Chairman Prathap C Reddy……………………………………….Full Article: Source

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Posted on 29 September 2010 by VRS |  Email |Print

From Btimes.com.my: Khazanah Nasional Berhad of Malaysia became the biggest shareholder of Camco International Ltd after buying shares on the market yesterday and forming a venture with the developer of emission reduction projects.
Payar Investments Ltd, a unit of Khazanah, yesterday bought 34.5 million shares representing 19.56 per cent, Camco said today in a statement distributed by the Regulatory News Service………………………………………..Full Article: Source

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Posted on 29 September 2010 by VRS |  Email |Print

From Themovechannel.com: The Qatar Investment Authority intends to invest with an aggregate target budget of as much as US$5 billion, according to the memorandum.
Greek Prime Minister George Papandreou is seeking foreign investment to help Greece return to growth. The economy is expected to contract 4% this year and 2.6% in 2011, before resuming growth in 2012……………………………………….Full Article: Source

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Posted on 29 September 2010 by VRS |  Email |Print

From Arabianbusiness.com: Bahrain’s sovereign wealth fund Mumtalakat reopened Gulf Arab bond markets by issuing a five year $750 million bond in June after the market was hit by the European debt crisis, raising the prospect other issuers from the region could follow.
Bahrain does not plan to issue sovereign bonds any time soon and the Gulf Arab country’s economy may grow by 3-4 percent this year, central bank governor Rasheed al Maraj said on Tuesday……………………………………….Full Article: Source

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Posted on 29 September 2010 by VRS |  Email |Print

From Telegraph: Samir Sharifovov, the Azeri finance minister, who is director of the State Oil Fund (SOFAZ) and is directly responsible for investing the country’s oil revenues, is seen by many in Washington as the man to help stabilise Azerbaijan, and prevent it from going the way of Krygyzstan.
The importance of Azerbaijan’s role has been reflected in the recent high-profile visits to Baku, the Azeri capital, by Hillary Clinton, the U.S. Secretary of State, and Defence Secretary Robert Gates, who delivered personal letters of support from U.S. President Barack Obama……………………………………….Full Article: Source

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Posted on 29 September 2010 by VRS |  Email |Print

From Newsminer.com: The Permanent Fund Dividend number grabbed front-page headlines last week, as it does every fall. It is easy to imagine what a check of $1,281 means and how to spend or save it.
It’s impossible to comprehend what $36,188,700,000 means to Alaskans of today and tomorrow……………………………………….Full Article: Source

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Posted on 29 September 2010 by VRS |  Email |Print

From Alaskadispatch.com: Scott McAdams, Democratic candidate for the U.S. Senate, unveiled his energy plan Tuesday afternoon at his campaign headquarters in downtown Anchorage.
McAdams’ main idea is to take the oil royalties the federal government currently claims and use them to endow a “Renewable Energy Permanent Fund” instead of letting the money disappear into the “black hole of the federal treasury.”………………………………………Full Article: Source

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Posted on 29 September 2010 by VRS |  Email |Print

From Reuters: Brazil’s government, through its sovereign wealth fund and other state entities, agreed to buy nearly two-thirds of the shares in oil major Petrobras as part of the company’s massive $70 billion offering that was sealed last week.
The sovereign fund, state development bank BNDES and the National Treasury committed to buy about 2.8 billion shares of the 4.27 billion offered, Petrobras said in a statement on Tuesday……………………………………….Full Article: Source

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