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Sovereign Wealth Funds Briefing 22.Jun 2011

Posted on 22 June 2011 by VRS |  Email |Print

A unit of Singapore’s main wealth fund has raised its stake in the holding company which controls Italian toll road operator Atlantia, allowing it to boost its Atlantia ownership to 43.21 percent.
Infrastructure holding company Sintonia said in a statement on Tuesday a unit of the Government of Singapore Investment Corporation (GIC) had financed a 92.6 million euro capital increase which allowed Sintonia to buy a further 0.96 percent of Atlantia last month……………………………………….Full Article: Source

Posted on 22 June 2011 by VRS |  Email |Print

KP BalarajSpecialist eye hospitals chain Vasan Healthcare is in advanced talks to sell up to 15% stake to Singapore sovereign wealth fund GIC for around $75-100 million ( 337-450 crore), two people familiar with the negotiations said.
GIC is the frontrunner among 4-5 investors the Chennai-based company is negotiating with, the two persons said, although the Singapore fund declined to comment. Vasan, which runs the country’s largest chain of eye hospitals, said it was talking to 4-5 investors. “We expected to close the deal in eight weeks,” Chairman Dr C M Arun said……………………………………….Full Article: Source

Posted on 22 June 2011 by VRS |  Email |Print

John Rolls submits, Michael Synder writes: In 2011, America is for sale and the communist Chinese are eager buyers. The Chinese government is using sovereign wealth funds and Chinese state-owned enterprises to buy up economic assets and huge tracts of land all over the United States.
Many of our politicians hail all of this “foreign investment” as something that is “good for America”, while many others see something much more sinister going on here. In any event, this is a trend that is rapidly accelerating and that is causing great concern among patriotic Americans……………………………………….Full Article: Source

Posted on 22 June 2011 by VRS |  Email |Print

The New Zealand Superannuation Fund should not be making money by investing in an Indian company building nuclear-armed submarines, the Green Party says.
Figures provided to the Greens show the Super Fund holds 44,595 shares in Larsen and Toubro, a Mumbai-based multinational involved in designing and building a fleet of nuclear-armed submarines for India……………………………………….Full Article: Source

Posted on 22 June 2011 by VRS |  Email |Print

Developer Qatari Diar last night gained planning permission by Westminster Council last night for its residential scheme at Chelsea Barracks. Qatari Diar is wholly owned by the Qatar Investment Authority (QIA), Qatar’s sovereign wealth fund, which is estimated to hold in excess of $60 billion of assets.
Under the new terms, there will be 123 affordable homes out of the 448 new homes that will be built in total on the 13 acre site, in addition to the £78m payment that Qatari Diar will pay the council for not having to build more affordable housing units……………………………………….Full Article: Source

Posted on 22 June 2011 by VRS |  Email |Print

Qatari Diar, the property arm of the Qatar’s sovereign wealth fund, is among three bidders shortlisted to own and manage the Olympic Village in London, it emerged Wednesday.
The state-owned firm, which submitted a joint bid with British property developer Delancey, was shortlisted from a group of by the Olympic Delivery Authority (ODA), the agency said……………………………………….Full Article: Source

Posted on 22 June 2011 by VRS |  Email |Print

BTA , Kazakhstan’s third-largest bank by assets, said it had enough money to meet an upcoming bond coupon payment of $166 million without affecting day-to-day operations.
Bonds in the bank have sold off heavily in recent days on fears BTA, owned 81.5 percent by Kazakhstan’s sovereign wealth fund, would be unable to pay the coupon. Yields on the bonds which mature 2018 hit a record high near 20 percent on Monday……………………………………….Full Article: Source

Posted on 22 June 2011 by VRS |  Email |Print

The chief executive officer of Norway’s $570 billion sovereign wealth fund said the European Monetary Union, which consists of 17 countries sharing the euro currency, will survive amid increasing doubts that Greece will avoid becoming the first member to default on its debts.
“Some people are saying Europe is facing a choice, there is fiscal union or there is a break-up of the euro,” Yngve Slyngstad, the head of the Oslo-based fund, said………………………………………Full Article: Source

Posted on 22 June 2011 by VRS |  Email |Print

In April I had the privilege of participating in a workshop in Anchorage with seven other co-authors of our forthcoming book on Alaska’s Permanent Fund Dividend, the only example in the world of a universal dividend paid to all citizens based on commonly owned natural resources, in this case the oil from Alaska’s North Slope.
The Alaska Permanent Fund was created over 30 years ago as a way to save oil revenue for the future and avoid the “resource curse,” the boom and bust cycle that afflicts many economies rich in resources……………………………………….Full Article: Source

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