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Sovereign Wealth Funds Briefing 10.Jul 2012

Posted on 10 July 2012 by VRS |  Email |Print

Qatari Diar, the property arm of Qatar’s sovereign wealth fund, said on Monday it has signed a memorandum of understanding (MoU) with Oman’s Ministry of Tourism to develop three mixed-use developments in the sultanate.
The Ras Al Hadd development in the Sur district, which forms part of the latest agreement, will feature a five-star hotel and spa, residential villas, apartments, souks, a marina and villa plots………………………………………..Full Article: Source

Posted on 10 July 2012 by VRS |  Email |Print

Sovereign wealth funds for Qatar and Abu Dhabi are front-runners to acquire 42 UK-based Marriott hotels which are being sold out of administration.
The hotels are being sold by largely state-owned bank Royal Bank of Scotland Group (RBS). Press reports said the Qatar Investment Authority, which is working on a deal with Blue Coast, an Indian hotels chain, had outbid the Abu Dhabi Investment Authority………………………………………..Full Article: Source

Posted on 10 July 2012 by VRS |  Email |Print

London-based private equity fund Permira is in exclusive talks with the Qatari royal family over the sale of Italian fashion house Valentino and a decision is expected by the end of the month, four sources close to the talks said on Monday.
In March, Qatar’s sovereign wealth fund announced plans to take the Harrods brand global to cities such as Paris and New York. Qatar Holding bought the famous London department store in 2010 from Egyptian-born businessman Mohamed al-Fayed in a deal reported to be worth around 1.5 billion pounds………………………………………..Full Article: Source

Posted on 10 July 2012 by VRS |  Email |Print

Bahrain’s $9 billion sovereign wealth fund Mumtalakat said its full-year consolidated net losses widened due to higher provisions and reduced income from associate companies.
Mumtalakat, which owns stakes in firms such as Gulf Air and Aluminium Bahrain, made a net loss of 270.6 million dinars ($717.68 million) in 2011, it said in a statement on its website………………………………………..Full Article: Source

Posted on 10 July 2012 by VRS |  Email |Print

Bank of China Limited, a commercial bank in China, has received a license from Central Bank of Kenya to establish a representative office in Kenya.
Bank of China, in which the Chinese Sovereign Wealth Fund holds a substantial stake, is headquartered in Beijing, focusing on corporate and personal banking as well as investment banking………………………………………..Full Article: Source

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