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Sovereign Wealth Funds Briefing 12.Jul 2011

Posted on 12 July 2011 by VRS |  Email |Print

The SEC is investigating financial firms’ dealings with sovereign-wealth funds and foreign pension funds, with a focus on the agents and intermediaries that helped connect them. Private equity firms are rethinking their roles in guiding the anti-corruption policies of portfolio companies.
And due diligence now means vetting transactions for corruption issues through the lenses of the Foreign Corrupt Practices Act and the U.K. Bribery Act……………………………………….Full Article: Source

Posted on 12 July 2011 by VRS |  Email |Print

Manish KejriwalSingapore-based sovereign fund Temasek said that it is bullish about the financial sector opportunity in India. The company’s investment value rose to $193 billion in 2010-11, an $8-billion jump from its last year’s investment.
The Singapore-based privatelyheld fund raised over $3.5 billion by selling its stake in Bank of China and China Construction Bank Corporation, the two biggest banks of China. In India, Temasek has invested $5 billion since 2005………………………………………..Full Article: Source

Posted on 12 July 2011 by VRS |  Email |Print

Temasek Holdings has hired Ms Png Chin Yee, co-head of UBS’ Asia financial institutions group, as managing director, investment, for its financial-service portfolio, sources said.
Ms Png will start her new job on Monday, the sources told Reuters………………………………………..Full Article: Source

Posted on 12 July 2011 by VRS |  Email |Print

And while the bidding and negotiation between Kookmin and its potential underwriters was continuing, Temasek squeezed ahead with its $3.6 billion sale of shares in Bank of China (BOC) and China Construction Bank (CCB) on Tuesday.
The BOC block raised $2.4 billion, while the CCB transaction raised $1.2 billion. Both deals were handled by Morgan Stanley on a sole basis — a nice win for the US investment bank, especially since it was never bid out……………………………………….Full Article: Source

Posted on 12 July 2011 by VRS |  Email |Print

Improving ties between Malaysia and Singapore can maintain growth sustainability in the next five years and the growth can return to pre-Asia financial crisis if the relationship strengthens further.
The joint venture (JV) amounting to RM30 billion would be jointly invested by investment arm of the Malaysian government Khazanah Nasional Bhd (Khazanah) and its Singaporean counterpart Temasek Holdings (Temasek)………………………………………..Full Article: Source

Posted on 12 July 2011 by VRS |  Email |Print

China reported a jump in its foreign-exchange reserves and a surge in bank lending, reflecting continued inflationary pressures on the world’s No. 2 economy.
The People’s Bank of China said the country’s stockpile of U.S. dollars and other foreign currency rose $152.8 billion in the April-to-June period—or roughly $1.7 billion a day—to $3.2 trillion. Much of that money comes from earnings by exporters and foreign investors, which adds to an existing flood of cash in the Chinese economy that has helped push up prices………………………………………..Full Article: Source

Posted on 12 July 2011 by VRS |  Email |Print

China’s foreign reserves have soared to nearly $3.2 trillion as Beijing intervened in currency markets to control its yuan despite pledges to allow more flexibility.
The reserves rise as Beijing buys foreign currency to counter upward pressure on the yuan’s exchange rate due to an influx of export revenues and investment. Washington and other trading partners complain those controls are swelling China’s multibillion-dollar trade surplus and might be hampering a global recovery………………………………………..Full Article: Source

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