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Sovereign Wealth Funds Briefing 31.Aug 2011

Posted on 31 August 2011 by VRS |  Email |Print

Julia GillardPrime Minister Julia Gillard has dismissed the need for a sovereign wealth fund, saying the nation’s trillion-dollar superannuation pot already does the job.
A number of prominent experts and politicians, including Liberal frontbencher Malcolm Turnbull, have argued for the need to create a sovereign wealth fund to maximise the benefits of the mining boom. A sovereign wealth fund would tuck billions of dollars in tax revenue from the boom away for a rainy day……………………………………….Full Article: Source

Posted on 31 August 2011 by VRS |  Email |Print

Australia’s superannuation regime is strong enough to stand in the place of a sovereign wealth fund, according to the Prime Minister, Julia Gillard.
Gillard has told a Financial Services Council breakfast in Sydney today she believed superannuation is “already our trillion dollar sovereign wealth fund – but with market benefits”……………………………………….Full Article: Source

Posted on 31 August 2011 by VRS |  Email |Print

Singapore’s sovereign wealth fund, Temasek, was able to act ahead of the curve, unloading large chunks of Bank of China and China Construction Bank recently at about HK$3.60 and HK$6.20 a share, respectively.
Maybe this was pure coincidence. But the sell-offs would be impressive if the decisions two months ago are viewed together with what’s happened of late……………………………………….Full Article: Source

Posted on 31 August 2011 by VRS |  Email |Print

Singapore’s sovereign wealth fund Temasek Holdings bought 97.117 million shares of Bank of China for a total of about HK$288 million, or an average price of HK$2.972 per share, on August 22, reports Oriental Morning Post, citing a company filing.
The stake buy increased Temasek’s stake in Bank of China from 6.96 percent to 7.07 percent……………………………………….Full Article: Source

Posted on 31 August 2011 by VRS |  Email |Print

Suspending collection of levies from diesel and petrol sales to the state Oil Fund will help headline inflation drop by 0.5 per cent each month until the measure expires, Dr Naris Chaiyasoot, Director-General of the Fiscal Policy Office (FPO) said Tuesday.
The effect will be clearly seen in September, he added. The risk of inflation in Thai economy has reduced but risk from the global economy stemming from financial problems in Europe and the US has risen. It is necessary to stimulate domestic consumption to substitute for the possible slowdown of exports……………………………………….Full Article: Source

Posted on 31 August 2011 by VRS |  Email |Print

Qatar Investment Authority has denied media reports that it is close to a deal to take over the world famous Silverstone racing circuit in the UK.
An official source at Qatar Investment Authority told Qatar News Agency that there were “no relevant negotiations, currently nor in the past, in this respect”……………………………………….Full Article: Source

Posted on 31 August 2011 by VRS |  Email |Print

The two companies that purchased 1,439 homes in London’s Olympic Park may sell as much as a fifth of the properties to overseas investors, according to two people with knowledge of the situation.
U.K. developer Delancey and a division of Qatar’s sovereign wealth fund intend to sell approximately 300 of the homes abroad, according to the people, who declined to be named because they’re not permitted to speak publicly. The remaining units will be rented out, they said……………………………………….Full Article: Source

Posted on 31 August 2011 by VRS |  Email |Print

Qatari investors’ decision this week to pump half a billion euros into the merger of Greece’s second and third largest banks is part of a strategy to both expand the Gulf nation’s European investments and boost its international standing, analysts said Tuesday.
The $720 million deal is the latest in a shopping spree that has significantly boosted Qatar’s European holdings in recent months, adding to longer-held stakes in continental icons such as Barclays PLC, Credit Suisse Group, Volkswagen AG, and the London Stock Exchange. Just last week, Qatar’s sovereign wealth fund snapped up a 2 percent stake in power company Energias de Portugal……………………………………….Full Article: Source

Posted on 31 August 2011 by VRS |  Email |Print

Norway’s oil fund has increased its investments in small-capitalization companies in debt-burdened European countries such as Italy and Greece over the past 18 months, the head of the $544 billion fund said.
“We think it’s structurally possible to make money” in these markets, Yngve Slyngstad, chief executive officer of Norges Bank Investment Management, said in a speech today in Oslo. The fund also handed out external investment mandates targeting small-caps in France, Spain, he said……………………………………….Full Article: Source

Posted on 31 August 2011 by VRS |  Email |Print

The country’s $550 billion sovereign wealth fund, set up in 1996, owns through its investments some 1.9 percent of the European stock market and holds about 1 percent of traded global shares.
But despite the government’s efforts to protect the economy from bubbles, the national wealth has created unbalances that are difficult on Norwegians not involved in the oil sector……………………………………….Full Article: Source

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