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Sovereign Wealth Funds Briefing 03.Nov 2010

Posted on 03 November 2010 by VRS |  Email |Print

From Reuters: Norway’s $500-billion-plus sovereign wealth fund will start investing in real estate in the “near future” and will probably broaden its portfolio further with infrastructure assets, the central bank chief said on Tuesday.
Norges Bank runs Norway’s wealth fund on behalf of the government, which siphons away the bulk of the North Sea state’s taxes from oil and gas activities into the offshore fund……………………………………….Full Article: Source

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Posted on 03 November 2010 by VRS |  Email |Print

From Bloomberg: Norges Bank Governor Svein Gjedrem signaled his opposition to removing Norway’s $520 billion oil fund from the central bank after the government said the fund’s size may require putting it under new management.
“Norges Bank has been important for the oil fund in the past and I think also in the future that may be the case,” Gjedrem said in an interview in Oslo yesterday. Asked whether there is any need to change the management structure, he said “not if you look at the results of the fund; they have been very satisfactory.”………………………………………Full Article: Source

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Posted on 03 November 2010 by VRS |  Email |Print

From Flex-news-food.com: France’s strategic investment fund - Fonds Strategique d’Investissement (FSI) - has announced that it will acquire a stake in French miller and malt producer Siclaé. FSI will also invest 50 million euro in Siclaé to finance targeted acquisitions and help it consolidate its market positions, it said.
Established in 2005, Siclaé’s sales for fiscal 2009/10, ended June, amounted to 1.65 billion euro. Siclaé operates 76 sites worldwide and employs approximately 6,250 people……………………………………….Full Article: Source

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Posted on 03 November 2010 by VRS |  Email |Print

From Reuters: Kazakhstan’s sovereign fund Samruk-Kazyna said on Tuesday it has no plans to sell oil firm KazMunaiGas (KMG) through an initial public offering (IPO) in the near future.
CEO Samruk-Kazyna Kairat Kelimbetov told Reuters in an interview in London last month that the wealth fund could sell 10-20 percent in the oil firm through an IPO next year……………………………………….Full Article: Source

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Posted on 03 November 2010 by VRS |  Email |Print

From Reuters: Libyan state-owned firm LAP Green Network signed a deal to buy a majority stake in Chad’s Sotel telecoms firm for $90 million. The Libyan firm, which is owned by sovereign wealth fund the Libyan African Investment Portfolio, owns or controls telecoms operations in eight African countries.
The deal to buy a 60 percent stake in state-owned Sotel Tchad, was signed during a visit to Chad by Libyan leader Muammar Gaddafi, who is there to attend a conference on Africa’s dwindling water resources……………………………………….Full Article: Source

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Posted on 03 November 2010 by VRS |  Email |Print

From Mercopress.com: China’s sovereign wealth fund has urged the Obama administration to spend 1trillion US dollars on infrastructure over the next five years, to create jobs and improve US competitiveness.
Zhou Yuan, head of asset allocation at China Investment Corporation (CIC), said Beijing would be willing to invest in such projects. CIC manages part of China’s massive foreign exchange reserves, an estimated 300 billion in both domestic and overseas investments……………………………………….Full Article: Source

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Posted on 03 November 2010 by VRS |  Email |Print

From Detnews.com: General Motors Co. will split its shares three ways before it launches its initial public stock offering on Nov. 18, people briefed on the matter said, and the Treasury Department’s stake could fall below 40 percent.
GM’s vice chairman, Steve Girsky, has already traveled abroad to win investment. A group of four or five sovereign wealth funds are expected to invest up to $2 billion……………………………………….Full Article: Source

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