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Sovereign Wealth Funds Briefing 04.Jul 2012

Posted on 04 July 2012 by VRS |  Email |Print

Hussain Ali Al-AbdullaQatar Holding LLC, the investment arm of the country’s sovereign-wealth fund, plans to open Harrods hotels in cities including London, New York and Paris to build the British luxury retailer it bought two years ago into a global brand.
“We have already decided to build a Harrods Hotel in London, one in Kuala Lumpur and one in Sardinia, Italy,” Qatar Holding Vice Chairman Hussain Ali Al-Abdulla said. “We are looking to invest more in Malaysia because we think the economy is growing.”……………………………………….Full Article: Source

Posted on 04 July 2012 by VRS |  Email |Print

Qatar’s sovereign wealth fund plans to take the Harrods brand global to cities such as Paris and New York, and will start by building a luxury hotel named after the upmarket London department store in Malaysia’s capital Kuala Lumpur.
Qatar Holding has signed an agreement with Malaysian partner Jerantas Sdn Bhd to build a hotel in Kuala Lumpur’s Bukit Bintang shopping district. A hotel management company will be established to develop similar projects around the world, Qatar Holding said in a statement………………………………………..Full Article: Source

Posted on 04 July 2012 by VRS |  Email |Print

Iran has set up a 14 billion dollar stabilization fund to minimize the EU oil embargo effects. The fund will be specifically used to update oil production facilities.
Iran’s Oil Minister, Rostam Qassemi, has said that the embargo will in no way affect the national economy and will only prove detrimental to western countries. According to him, Iran will sell oil to other consumers………………………………………..Full Article: Source

Posted on 04 July 2012 by VRS |  Email |Print

Martin Currie has announced the appointment of manager Penny Kyle who will join the firm’s North American equities team. Kyle will work alongside the Scottish group’s head of North American equities, Tom Walker (pictured), as co-manager on a number of its funds including its Martin Currie North American fund.
Before joining the Edinburgh-based firm, Kyle worked for five years at the Kuwait Investment Office, the London-based branch of the country’s $296 billion sovereign wealth fund, the Kuwait Investment Authority, as the institutional investors head of US equities………………………………………..Full Article: Source

Posted on 04 July 2012 by VRS |  Email |Print

Azerbaijani President Ilham Aliyev has ordered on approval of execution of budget of the State Oil Fund of Azerbaijan (SOFAZ).
Under the order, the SOFAZ budget was implemented for AZN 15.628 bn (122.1% of the forecast) on revenues and for AZN 9.606 bn (96.6%) on expenditures. The SOFAZ actual budget surplus for 2011 amounted to AZN 6.02 bn………………………………………..Full Article: Source

Posted on 04 July 2012 by VRS |  Email |Print

Denmark’s foreign reserves reached a record high in June after the central bank entered markets to reduce pressure on the krone to appreciate, as investors fled the turmoil of the euro-zone for safe havens including assets of the Nordic country.
The Nationalbanken, Denmark’s central bank, said Tuesday it bought 7.3 billion Danish krone ($1.24 billion) of foreign currency in June, bringing its purchases of other nations’ currencies so far this year to the equivalent of DKK36.9 billion………………………………………..Full Article: Source

Posted on 04 July 2012 by VRS |  Email |Print

Temasek Holdings Pte’s sale of Chinese bank shares probably helped Singapore’s state-owned investment company weather losses from the European debt crisis in the past year.
The company sold shares in China Construction Bank Corp. (939) and Bank of China Ltd. in the year ended March, profiting from stakes held since their initial stock sales. Temasek, whose assets rose 3.8 percent to a record S$193 billion ($153 billion) as of March 2011, usually releases its annual report in July………………………………………..Full Article: Source

Posted on 04 July 2012 by VRS |  Email |Print

Brigade Group and Government of Singapore Investment Corporation Pte Ltd (GIC), through its affiliate, Reco Begonia, have entered into a 51:49 Private Equity partnership through a Special Purpose Vehicle for the development of a residential project on Whitefield Main Road, Bangalore.
The company would be developing the project and will be making an investment of over Rs.100 crores in the SPV with GIC as partner………………………………………..Full Article: Source

Posted on 04 July 2012 by VRS |  Email |Print

Brazil’s foreign currency reserves picked up $1.5 billion in June from the previous month, reversing the drop saw in May, as the value of country’s investments increased.
Foreign exchange reserves, which are a significant part of Brazil’s protection against global crises, totaled $373.9 billion in June, up from $372.4 billion recorded in May, the Central Bank of Brazil said on its website Tuesday………………………………………..Full Article: Source

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