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Sovereign Wealth Funds Briefing 10.May 2012

Posted on 10 May 2012 by VRS |  Email |Print

China’s foreign exchange reserves are going to include a New York bank in an unprecedented purchase approved Wednesday by the Federal Reserve. New York’s Bank of East Asia will be owned by China’s sovereign wealth fund CIC, which is responsible for managing part of the People’s Republic foreign exchange reserves, as well as by the state-owned Industrial and Commercial Bank of China.
The 80% ownership is also being spread to Central Huijin Investment, controlled by CIC, all of which are approved to become bank holding companies………………………………………..Full Article: Source

Posted on 10 May 2012 by VRS |  Email |Print

GaoXiqingChina Investment Corp. has stopped buying European government debt because of an economic crisis on the continent, though it continues to look for new investments there, said CIC President Gao Xiqing.
“What is happening in Europe right now is of course of concern,” Gao said Wednesday in an interview in Addis Ababa, Ethiopia, during the World Economic Forum on Africa. “We still have our people looking at opportunities in Europe, even though we don’t want to buy any government bonds.”……………………………………….Full Article: Source

Posted on 10 May 2012 by VRS |  Email |Print

China Investment Corp. is still looking for new investments in Europe, although it is no longer buying European government debt in view of the region’s debt crisis, Bloomberg News reported Wednesday, citing CIC President Gao Xiqing.
“What is happening in Europe right now is of course of concern,” Gao said in an interview during the World Economic Forum on Africa in Addis Abba, Ethiopia. “We still have our people looking at opportunities in Europe, even though we don’t want to buy any government bonds.”……………………………………….Full Article: Source

Posted on 10 May 2012 by VRS |  Email |Print

China’s central bank plans to give $10 billion from its huge pile of foreign exchange reserves to a new entity to assist Chinese state firms invest abroad, four sources with direct knowledge of the matter said on Wednesday.
The People’s Bank of China is in talks with China Reform Holdings Corporation Ltd, a state firm controlled by the State-owned Asset Supervision and Administration Commission, to set up a joint venture, probably abroad, the sources told Reuters………………………………………..Full Article: Source

Posted on 10 May 2012 by VRS |  Email |Print

Temasek is turning into a financial chimera. Where that mythical beast was part lion, goat and serpent, the Singaporean fund combines aspects of a hedge fund, private equity house and investment bank. That combination sounds good for returns, though it might not sit well with Temasek’s political ties.
First, consider Temasek’s recent opportunistic. It sold US$2.5bil of shares in two China banks last Thursday, just weeks after buying US$2.3bil of shares in another. Temasek reportedly flipped China Construction Bank shares for 20% more than it paid last November which in turn was 20% below where the shares were trading when it sold in the previous July………………………………………..Full Article: Source

Posted on 10 May 2012 by VRS |  Email |Print

The State Capital Investment Corporation (SCIC) has just published the list of 245 enterprises from which they will make capital divestment this year. Some are listed companies on the HCM City Stock Exchange, including entertainment services provider Royal International Corp (RIC) and An Giang Fisheries Import and Export (AGF).
SCIC will also sell 355,000 shares of S. Pharm Pharmaceutical Co, with a deadline for making deposits on May 29……………………………………….Full Article: Source

Posted on 10 May 2012 by VRS |  Email |Print

Mubadala, the Abu Dhabi government’s investment vehicle, expects to spend about Dh20.1 billion ($5.47 billion) this year as its seeks to expand a diverse line of businesses ranging from oil and gas to semiconductors.
“The group currently anticipates that its capital and investment expenditure for 2012 is likely to be substantially in line with the Dh20.1 billion annual average for the past three years,” it said in a update of its bond programme………………………………………..Full Article: Source

Posted on 10 May 2012 by VRS |  Email |Print

Louis Gallois, French-born chief executive of European Aeronautic Defence & Space EADS NV, is likely to be named board member of French sovereign fund Fonds Strategique d’Investissement, or FSI, newspaper Les Echos reported Wednesday, citing unidentified sources.
Gallois, who is due to step down from EADS later this month, held top government jobs in the eighties, the report said………………………………………..Full Article: Source

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