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Sovereign Wealth Funds Briefing 04.Jan 2013

Posted on 04 January 2013 by VRS |  Email |Print

Brazil tapped into its sovereign wealth fund and state companies’ profits in an effort to meet its 2012 fiscal target.
The Treasury will withdraw 8.85 billion reais ($4.3 billion) from its sovereign wealth fund and 4.7 billion reais in dividends from state-owned bank Caixa Economica Federal, according to a Dec. 31 decision published in today’s official gazette………………………………………..Full Article: Source

Posted on 04 January 2013 by VRS |  Email |Print

Why not create a separate government agency to run a US sovereign wealth fund? Then the Fed can stick to what it does best—keeping the economy on track—while the sovereign wealth fund takes the political heat, gives the Fed running room, and concentrates on making a profit that can reduce our national debt.
Sovereign wealth funds are already standard for governments that have paid off their national debt and gone into the black. And some countries have both debt and sovereign wealth funds on their balance sheet. In order of holdings, the Monitor Group’s Sovereign Wealth Fund Assets Under Management Table shows that Norway, China, United Arab Emirates, Singapore, and Kuwait have the top sovereign wealth funds………………………………………..Full Article: Source

Posted on 04 January 2013 by VRS |  Email |Print

The application process has begun for 2013 Alaska Permanent Fund Dividends, and it’s open to all eligible Alaska residents at the PFD Division website. The deadline for applying is March 31. On New Year’s Day, nearly 21,000 Alaskans had already filled out their applications online. Last year, the payout was $878.
A record 471 Alaska non-profit entities are already asking everyone eligible to receive a permanent fund dividend this year to share it with them through the Pick.Click.Give program. In 2012, Bean’s Café in Anchorage became the first nonprofit to receive pledges totaling more than $100,000………………………………………..Full Article: Source

Posted on 04 January 2013 by VRS |  Email |Print

The Government of Singapore Investment Corporation (GIC) said on Friday that Lim Chow Kiat will be its next group chief investment officer from Feb 1, succeeding Ng Kok Song who is retiring.
Lim, 42, is currently GIC’s deputy group chief investment officer. He joined the Singapore sovereign wealth fund in 1993 after graduating with first class honours in accountancy from Nanyang Technological University. Lim was appointed head of GIC’s Fixed Income, Currency and Commodities Department in 2008………………………………………..Full Article: Source

Posted on 04 January 2013 by VRS |  Email |Print

Olam International Ltd., which has been battling short-seller Muddy Waters since November, said on December 28 that Singapore state investor Temasek Holdings had raised its stake in the commodities firm to 19% from 18%.
Temasek has been building up its stake in Olam since Muddy Waters launched a scathing attack on the company’s accounting, debt and investment strategy on November 19…………………………………………Full Article: Source

Posted on 04 January 2013 by VRS |  Email |Print

Executives of China Investment Corp, a $410 billion sovereign wealth fund, have repeatedly said that the company will seek infrastructure deals in the UK. They agreed to buy a 10 percent stake in Heathrow Airport in October.
This follows closely on the fund picking up a stake in Thames Water last year. “We could say the UK is the most open market worldwide, especially in the infrastructure sector, and this means huge business for China,” said Zhou Xiaoming, minister counselor of the Chinese embassy in the UK……………………………………….Full Article: Source

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