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Sovereign Wealth Funds Briefing 25.Jul 2011

Posted on 25 July 2011 by VRS |  Email |Print

Goodluck JonathanThe Nigeria Sovereign Investment Authority, set up to manage the country’s Sovereign Wealth Fund, is the country’s new approach to planning for tomorrow.
One thing for which Olusegun Aganga would be remembered when he was minister of finance is his concept of sovereign wealth fund, SWF. Aganga, now minister of the newly created Trade and Investment Ministry, worked assiduously for its creation in fulfilment of the mandate given to him by President Goodluck Jonathan. But what is sovereign wealth fund and how does it operate?………………………………………Full Article: Source

Posted on 25 July 2011 by VRS |  Email |Print

The UAE has attracted more than $75 billion in foreign direct investment (FDI) since 2000 to emerge as the second largest foreign capital destination in the Arab world after Saudi Arabia, according to official data.
UNCTAD figures covered only FDI as they did not include capital channeled by the Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds (SWFs), with assets of between $300-900 billion……………………………………….Full Article: Source

Posted on 25 July 2011 by VRS |  Email |Print

India is looking to raise USD10 billion for a new sovereign wealth fund to secure overseas energy assets.
India is looking to raise USD10 billion for a new sovereign wealth fund to secure overseas energy assets. The move will be funded from the country’s foreign-exchange reserves and the scheme will aim to help state-run companies compete with competitors…………………………………………Full Article: Source

Posted on 25 July 2011 by VRS |  Email |Print

Bank Danamon plans to raise up to 5 trillion Indonesian rupiah ($586 million) in a rights offer in September, Indonesia’s sixth-biggest lender said in a statement on Monday.
Singapore’s Temasek Holdings , Danamon’s main shareholder, through its unit will fully subscribe to its portion of the rights offer, Danamon said. Temasek currently owns a 67 percent stake in the bank……………………………………….Full Article: Source

Posted on 25 July 2011 by VRS |  Email |Print

The property developer Canary Wharf Group is set to be selected by Royal Dutch Shell to transform the area around the oil firm’s London headquarters, near Waterloo station. The developer, which is majority owned by Songbird Estates, has teamed up with Qatari Diar, the property investment arm of Qatar’s sovereign wealth fund, to offer up to £350m for the redevelopment deal, the Sunday Times reported this weekend.
The deal will see houses, offices and shops built on the five acres of land surrounding the well-known 1950s tower in central London. The first phase is expected to be completed by 2016……………………………………….Full Article: Source

Posted on 25 July 2011 by VRS |  Email |Print

A Wildrose government would plow more money into Alberta’s Heritage Savings Trust Fund and provide tax incentives for business, but otherwise stay out of the way of economic diversification, the party announced Saturday in Grande Prairie.
Wildrose Leader Danielle Smith accused the Conservative government of mismanaging the province’s finances and said her party’s competitiveness policy would spur investment and restore confidence in Alberta……………………………………….Full Article: Source

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