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Sovereign Wealth Funds Briefing 14.Mar 2011

Posted on 14 March 2011 by VRS |  Email |Print

From Andina.com.pe: Peru’s economy will likely continue its growth trends this year, but there is concern about the global impact of commodity prices on the Latin American country, Finance Minister Ismael Benavides said.
The Peruvian government is looking to create a sovereign wealth fund to help protect the economy against future downturns, he said. The fund will likely be initially created within Peru’s existing stabilization fund, and the process will likely begin within the next few weeks, he added……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Ai-cio.com: A new report by the Brookings Institution has asserted that the US should offer a greater number of incentives for sovereign wealth funds to invest in American infrastructure.The report stresses that US policymakers should become more accepting of foreign investments and should offer tax breaks and loan guarantees.
The incentives, the Brookings Institution says, would encourage the world’s sovereign wealth funds, whose assets have swelled 11% in the past 12 months to about $4 trillion, to invest in the US……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Efinancialnews.com: Private equity firms face a tough time as they raise billions in new funds for the first time since the financial crisis. Traditional large investors including US pension schemes are scaling back their exposure to the sector, leaving firms to turn to the likes of sovereign wealth funds to plug the gap.
But one potential problem is that such funds are growing more willing and able to invest by themselves……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Baltimoresun.com: Euro zone finance ministers will discuss the details on Monday of how to strengthen Europe’s financial safety net, after their leaders decided on Friday the emergency fund should have more firepower and flexibility.
The ministers will mainly be putting the finishing touches to a comprehensive package of measures already outlined on March 11, aimed at ending the year-old sovereign debt crisis and preventing a new one from happening……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From 234next.com: Cyril Agbele, Accountant General of Delta State has advised that the three tiers of government should be fully involved in the utilisation of the proposed Sovereign Wealth Fund (SWF).
When established by law, the SWF would over-ride the Excess Crude Account into which the Federal Government currently deposits excess crude oil revenue and shares with other tiers of government as a back-up to their regular monthly revenue allocation……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Vanguardngr.com: The 2010 federal budget earmarked about $12 billion for capital expenditures and there are now concerted efforts at setting up a Sovereign Wealth Fund for Nigeria.
$12 billion capital budget is not negligible and a properly managed Sovereign Wealth Fund represents an appropriate complement in pursuit of accelerated infrastructure funding channels for Nigeria……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Tradeafricablog.com: Zimbabwean officials have said the government will create a fund that will take control of 51% of the country’s mines to finance development.
“We have been careful to implement this … We need the 51% (equity) to come into our sovereign wealth fund,” said Saviour Kasukuwere, the minister of youth and empowerment. “We all agreed as a government.”………………………………………Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Arabianbusiness.com: Dubai’s sovereign wealth fund, Investment Corporation of Dubai (ICD) has asked banks to submit proposals on a new $4 billion, five-year loan refinancing, banking sources have said.
The loan, which is the largest to emerge from Dubai since its financial crisis, will refinance existing debt including a $6 billion loan, some of which is due to mature in 2011, a senior loan banker close to the deal said……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Emirates247.com: Dean Tan, Director, Dubai, Middle East Africa Group, IE Singapore (International Enterprise) said Abu Dhabi Investment Authority and Singapore Sovereign Wealth Fund have worked out common projects.
“Some of the family conglomerates in the UAE, like Al Futtaim Group, have shown interest to use our expertise and connections to enter the Chinese agricultural market. The recent UAE-Singapore joint forum held in Abu Dhabi in January and the forum held in China in 2010 focused, among other things, on these agro projects,” Dean said……………………………………….Full Article: Source

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