Sat, Apr 19, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS
Sovereign Wealth Funds Briefing 25.Nov 2010

Posted on 25 November 2010 by VRS |  Email |Print

From Reuters: Osum Oil Sands Corp, a small privately owned oil sands development company, said on Wednesday it will sell C$100 million ($99 million) worth of its shares to Korea Investment Corp, marking the sovereign wealth fund’s second investment in Canada’s oil sands.
Osum, which is developing a thermal oil sands project near Cold Lake, Alberta, and owns properties it estimates contain 9 billion barrels of bitumen in the largely undeveloped Grosmont Carbonate play, said in a press release it sold the South Korean fund 7.7 million shares at C$13 each in a private placement……………………………………….Full Article: Source

Posted on 25 November 2010 by VRS |  Email |Print

From Investingdaily.com: The emergence of sovereign wealth funds (SWF) and other similarly structured state-sponsored and state-owned entities is more evidence of emerging economies exercising increasing influence in the global economy.
SWFs have been key institutional players in the aftermath of the Great Recession, even after many suffered serious losses in their efforts to prop up damaged Western financials. What they do and how they do it were once the object of intense scrutiny, then the source of stabilizing capital……………………………………….Full Article: Source

Posted on 25 November 2010 by VRS |  Email |Print

From Reuters: Monetary policy in Nigeria should be geared toward lowering “stubbornly high” inflation to single digits, a senior International Monetary Fund official said on Wednesday. Legislation to create a sovereign wealth fund in which oil profits will be saved will be sent to the National Assembly next week.
IMF mission chief to Nigeria, Scott Rogers, said in a statement after annual talks with the government that the IMF supported the authorities’ plans to cut the fiscal deficit for 2011-13, because it would help shore up falling international reserves and lower inflation……………………………………….Full Article: Source

Posted on 25 November 2010 by VRS |  Email |Print

From Businessday.co.za: A proposal for an African Development Fund — to channel some of SA’s capital inflows into the rest of the continent — is one of the few suggestions in the growth plan wholeheartedly welcomed by economists. It could also “function as a sovereign wealth fund that invests in accumulated foreign reserves in productive projects with a higher yield than investment in developed-country bonds.”
The suggestion of establishing an institution that would invest those inflows into Africa was also seen as one of the few proposals that was entirely new in the document released yesterday……………………………………….Full Article: Source

Posted on 25 November 2010 by VRS |  Email |Print

From Ghananewsagency.org: Prof George Gyan-Baffour, Member for Wenchi, said the proposed Heritage and the Stabilisation funds that will hold Ghana’s petrol revenue be starved for five years.
He said revenue accrued within the period should be channelled into building sound health, road and agriculture sectors for the sustainable development of the country……………………………………….Full Article: Source

Posted on 25 November 2010 by VRS |  Email |Print

From Bloomberg: Commonfund, the nonprofit manager whose $1 billion property fund lost most of its value, will lose its Chief Risk Officer William Martin Dec. 31, making him at least the third executive to depart in three months.
Martin is exiting the Wilton, Connecticut, asset manager to join the Abu Dhabi Investment Authority in the same post, according to an investor memo obtained by Bloomberg News and dated yesterday……………………………………….Full Article: Source

Posted on 25 November 2010 by VRS |  Email |Print

From Bloomberg: Aluminium Bahrain, owned by sovereign wealth fund Bahrain Mumtalakat Holding Co., raised $339 million after going public at the bottom of the 0.90 dinar to 1.25 dinar range used to sell the stock to money managers.
Nawras, which is controlled by Qatar Telecom QSC, sold shares for 702 baisas each, also the bottom of the range, after taking an additional week to find buyers for the shares. Nawras shares have gained 3.3 percent since they started trading on Nov. 1……………………………………….Full Article: Source

Posted on 25 November 2010 by VRS |  Email |Print

From Thedeal.com: Controlled by the Singapore sovereign wealth fund Government of Singapore Investment Corp. Pte. Ltd., known as GIC, Global Logistic owns warehouses and industrial parks in China and Japan. According to Chinese press reports, both China’s national pension fund and its sovereign wealth fund invested in the IPO. GIC continues to hold 43.2%.
The attraction of emerging-markets companies’ listing on New York exchanges has faded over time. Valuations tend to be higher at home than offshore……………………………………….Full Article: Source

Posted on 25 November 2010 by VRS |  Email |Print

From FT Alphaville: Ireland’s prime minister was busy introducing his post-bailout government’s four-year fiscal plan at pixel time. There is a lot to chew on. For starters, the questionable assumption that 2.5 per cent GNP growth will cushion fiscal cuts right up to 2014.
In other fiscal cuts news — VAT is going up, minimum wages are going down, but the critical 12.5 per cent corporate tax is staying put. And there are just too many job cuts to count……………………………………….Full Article: Source

See more articles in the archive

banner
banner
April 2014
M T W T F S S
« Mar    
 123456
78910111213
14151617181920
21222324252627
282930