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Sovereign Wealth Funds Briefing 05.Oct 2010

Posted on 05 October 2010 by VRS |  Email |Print

From Financialpost.com: Global corporate mergers and acquisitions activity involving sovereign wealth funds fell in the third quarter to US$9.2 billion with 24 deals completed, Thomson Reuters data showed on Monday.
Global announced M&A volumes involving state investment vehicles fell 46 percent in the three months ending September from the same period in 2009. In the second quarter of 2010, such volumes totaled US$12.5 billion with 37 deals completed……………………………………….Full Article: Source

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Posted on 05 October 2010 by VRS |  Email |Print

From Channelnewsasia.com: Singapore is said to be contesting a ruling by India’s securities market regulator to cap the investments by Temasek and the Government of Singapore Investment Corporation (GIC).
This is according to a report by the Economic Times of India, which said the city state had conveyed its protest in a letter to the Indian government……………………………………….Full Article: Source

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Posted on 05 October 2010 by VRS |  Email |Print

From Sunnewsonline.com: It is cheering that the Federal and state governments have, at last, agreed on modalities for funding the Nigerian Sovereign Wealth Fund (NSWF). President Goodluck Jonathan announced the decision by the three arms of government to set aside $ 1 billion as seed money for the fund, which was approved recently by the National Economic Council (NEC).
The president told the 10th meeting of the Honourary International Investor Council in Abuja that he has already sent a bill for the creation of the NSWF to the National Assembly……………………………………….Full Article: Source

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Posted on 05 October 2010 by VRS |  Email |Print

From Thestar.com.my: American International Group Inc (AIG) has received a US$1bil commitment from Kuwait Investment Authority (KIA) for the initial public offer (IPO) of its Asian unit, the first major investment inked before the mega offering’s roughly US$15bil launch.
KIA, the country’s sovereign wealth fund, is among the major global institutions that have signed up as cornerstone investors ahead of AIA Group Ltd’s IPO, according to a source yesterday……………………………………….Full Article: Source

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Posted on 05 October 2010 by VRS |  Email |Print

From AFP: US insurer AIG has been forced to reduce its valuation for the Hong Kong initial public offering of its Asian unit AIA to win the commitment of Kuwait’s sovereign wealth fund, a report said on Monday.
AIG had to drop its initial plan to sell shares in AIA at a level that would value the company at 35-37 billion dollars (25.4-26.9 billion euros) to secure the backing of the Kuwait Investment Authority, the Financial Times said……………………………………….Full Article: Source

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Posted on 05 October 2010 by VRS |  Email |Print

From Bloomberg: Qatari companies are taking advantage of declining borrowing costs as the Persian Gulf country with stakes in J Sainsbury Plc. and Volkswagen AG seeks to raise funds for expansion. Qatar’s sovereign wealth fund, the Qatar Investment Authority, bought Harrods Ltd. department store this year and a stake in Agricultural Bank of China Ltd.
The fund may invest $30 billion in 2010, Prime Minister Sheikh Hamad Bin Jasim Bin Jaber Al Thani said in March……………………………………….Full Article: Source

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Posted on 05 October 2010 by VRS |  Email |Print

From Ameinfo.com: Tawam Molecular Imaging Centre (TMIC) was officially opened by Waleed Al Mokarrab Al Muhairi, the Chief Operating Officer of Mubadala. The Centre, wholly owned by Mubadala Development Company (Mubadala), is a key initiative within Mubadala Healthcare’s plan to develop robust private healthcare infrastructure in Abu Dhabi through partnerships with best-in-class international healthcare providers.
Attendees included dignitaries from Health Authority Abu Dhabi, SEHA and Daman, and distinguished clinicians and administrators from the adjacent Tawam Hospital……………………………………….Full Article: Source

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Posted on 05 October 2010 by VRS |  Email |Print

From Marketoracle.co.uk: Peter Sutherland, former Irish attorney general, points out that Ireland is not in “desperate” shape. He points out that: “Ireland has funding up to 2011 and has 24 billion Euros in its Sovereign Wealth Fund.” Thus, in his estimation, Ireland will not go broke until 2013, at least.
According to his policy it is “OK” for the government to continue to fully guarantee, and pay as they fall due, “retail” banking bonds. It is my argument that these bonds should have been negotiated down in September of 2008 when the Irish bank guarantee was first issued………………………………………Full Article: Source

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Posted on 05 October 2010 by VRS |  Email |Print

From Pionline.com: Bill Moran was elected chairman of the board at the $36.3 billion Alaska Permanent Fund Corp., Juneau, and Steve Rieger was elected vice chairman, according to a news release from the fund.
Mr. Moran is president and director of First Bancorp Inc. in Ketchikan, Alaska. He served as vice chairman for three years prior to the appointment……………………………………….Full Article: Source

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Posted on 05 October 2010 by VRS |  Email |Print

From Maktoob.com: Sovereign funds are developing in-house portfolio management techniques after the global crisis, a worrying trend for asset management companies, an executive at research firm Cerulli Associates said.
Global asset managers, who have historically pocketed attractive fees by managing a significant share of the sovereign funds, need to be aware of this development while approaching them for funds, according to Shiv Taneja, managing director at Boston-based Cerulli……………………………………….Full Article: Source

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