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Sovereign Wealth Funds Briefing 10.Dec 2012

Posted on 10 December 2012 by VRS |  Email |Print

Fertiliser makers want the Centre to create a ‘sovereign fund’ that can enable Indian firms set up joint ventures and acquire production assets abroad. This is to ensure long-term supply of nutrients and raw materials at reasonable prices.
“It is for the Government to decide the size of the fund. But given the capital costs of over $1.1-1.2 billion for a 10-lakh-tonne (lt) a year potash plant, it could start with that sum and then expand gradually,” R. G. Rajan, Chairman, Fertiliser Association of India (FAI) and CMD of Rashtriya Chemicals and Fertilisers (RCF), said………………………………………..Full Article: Source

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Posted on 10 December 2012 by VRS |  Email |Print

Zimbabwe needs a Sovereign Wealth Fund more than anything else using its vast minerals. “This SWF will be among other things be responsible for financing infrastructure backlog which needs close to US$14 billion, retiring the national debt which is hovering around US$10,6 billion, budgetary support, provide concessionary loans to industry, address balance of payments problems, provide funding to the informal sector and critical social programmes.
“It is enlightening to see that the Minister of Youth Development, Indigenisation and Empowerment has set up the National Indigenisation Economic Empowerment Fund which is earmarked to support economic empowerment programmes which will definitely spur economic growth.”……………………………………….Full Article: Source

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Posted on 10 December 2012 by VRS |  Email |Print

Australian politicians grappling with how to answer the Chinese foreign investment question were presented with an interesting case study over the weekend. The Canadian government approved the $C15.1 billion ($A14.6 billion) takeover bid by state-owned China National Offshore Oil Corp for Canadian oil and gas producer Nexen Inc, which marks China’s largest-ever foreign deal.
One keen observer of Chinese investment in Canada is Felix Chee, who heads the China Investment Corp’s Toronto office. He convinced the CIC that the massive sovereign wealth fund should open their first overseas branch in Canada, over Australia, the United States and Britain, and is a major player in determining the outlook of Chinese foreign investment in Canada………………………………………..Full Article: Source

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Posted on 10 December 2012 by VRS |  Email |Print

A Chinese group agreed to buy an 80.1 percent stake in the plane-leasing unit of American International Group Inc. (AIG) for $4.23 billion, the largest acquisition by that nation’s investors in the U.S.
The deal values ILFC at $5.3 billion, and eclipses China Investment Corp.’s $3 billion purchase of a stake in Blackstone Group LP (BX) in 2007………………………………………..Full Article: Source

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