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Sovereign Wealth Funds Briefing 16.Feb 2011

Posted on 16 February 2011 by VRS |  Email |Print

From Bloomberg: South Africa’s government is unlikely to create a sovereign-wealth fund this year, according to Richard Levin, director-general of the Department of Economic Development.
Proposals to establish the fund, which would be used to help manage foreign reserves and the value of the currency, are contained in the government’s new growth plan, unveiled by Economic Development Minister Ebrahim Patel on Nov. 23……………………………………….Full Article: Source

Posted on 16 February 2011 by VRS |  Email |Print

From Btimes.com.my: The Government of Singapore Investment Corp. (GIC), which manages more than $100 billion of Singapore’s foreign reserves, has offered $1.5 billion for a group of bankrupt resorts owned by investors that include the hedge fund Paulson & Co, Bloomberg has reported.
The purchase by the GIC, ranked as the world’s seventh-largest state investment company by Sovereign Wealth Fund Institute, reflects renewed confidence in real estate investments and heightened faith in a rebound in travel demand following the recession……………………………………….Full Article: Source

Posted on 16 February 2011 by VRS |  Email |Print

From Thenational.ae: Already Borse Dubai is being described in the Canadian media as “owned by a sovereign wealth fund”, when in fact ownership is split between Dubai Holding and Investment Corporation of Dubai, neither of which are SWFs. Before long, we might even hear from Canada that Dubai is an “oil rich emirate”.
Wherever the hyperbole leads, it is certain that, as currently structured, the LSE-TMX deal, and Dubai’s role in it, will have to run the gauntlet of Canadian regulators. This is in an election year when Canadian conservatives will almost certainly play the protectionist card to be seen to be safeguarding domestic industry and jobs……………………………………….Full Article: Source

Posted on 16 February 2011 by VRS |  Email |Print

From Reuters: Borse Dubai has not been asked to reduce its stake in London Stock Exchange to facilitate a merger between the LSE and the Toronto share market operator TMX. The Qatar Investment Authority (QIA) owns a 15 percent stake in LSE and the two combined would end up with a roughly 20 percent position in the new combined company.
Borse Dubai, which holds a 20.6 percent stake in the LSE and is owned by the ruler of the Gulf Arab emirate, would become the single largest shareholder in the merged entity, with an 11.3 percent stake if the deal is completed……………………………………….Full Article: Source

Posted on 16 February 2011 by VRS |  Email |Print

From Gulfnews.com: Mubadala Development Company announced on Tuesday the launch of Bayanat LLC, an Abu Dhabi-based company for mapping and surveying services. Bayanat, which has evolved out of the Military Survey Department and will continue to serve the UAE Armed Forces as its main client, has extended its services to cover institutions of the public sector, private companies as well as military organisations in the GCC region.
“By enabling these services to be offered to the public and private sector, a wider group of organisations in the UAE can benefit from the vast wealth of data available,” a Bayanat spokesperson told Gulf News……………………………………….Full Article: Source

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