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Sovereign Wealth Funds Briefing 09.Jan 2013

Posted on 09 January 2013 by VRS |  Email |Print

Norway has a resource-based sovereign wealth fund. So do Timor Leste and Angola, but not Canada’s federal government. These funds are used by federal governments to sock away revenues from oil and gas, mining, and other commodities. The savings are then invested, with the potential to create massive wealth for future generations.
Canada has two sub-national funds. The Alberta Heritage Savings Trust Fund was set up in 1976 and has now about $16 billion, while Quebec’s Generations Fund held $4.3 billion at the end of March, 2012………………………………………..Full Article: Source

Posted on 09 January 2013 by VRS |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) is considering an opportunity to buy property in Turkey, Singapore, Indonesia and Malaysia, SOFAZ said. SOFAZ said that in particular variants of purchasing property in Istanbul and central cities of Singapore, Indonesia and Malaysia are being considered.
“At present, all the variants are being considered, analysed and evaluated,” SOFAZ said. “Depending on the research results in this area and in accordance with SOFAZ’s investment strategy for 2013, the final decision will be made.”……………………………………….Full Article: Source

Posted on 09 January 2013 by VRS |  Email |Print

Government of Singapore Investment Corp. has appointed Lim Chow Kiat to succeed Ng Kok Song as Group Chief Investment Officer effective 1 February 2013. Lim is currently Ng’s deputy.
Lim, in a statement, said that Ng has been a great influence in developing the professional investment capability of GIC. “As GCIO, my focus will be to build on that capability and ensure that the GIC investment process remains robust………………………………………..Full Article: Source

Posted on 09 January 2013 by VRS |  Email |Print

Chinese officials remain worried about the state of the euro, the visiting French finance minister said yesterday, while repeating assurances the eurozone has stabilized and that France is on track for recovery.
The questions on the euro came from Chinese Vice Premier Li Keqiang, as well as from Lou Jiwei, the head of sovereign wealth fund China Investment Corp, Pierre Moscovici said. CIC officials have said as recently as last month that they were not optimistic about the outlook for the debt crisis in the euro zone. China has picked up infrastructure assets in Europe but has been more cautious about bond purchases especially from the more troubled euro zone members………………………………………..Full Article: Source

Posted on 09 January 2013 by VRS |  Email |Print

The Russian Direct Investment Fund (RDIF) and China Investment Corporation (CIC) sealed the deal to form a vehicle to invest mainly in Russia and the former Soviet Republics. The joint fund will start out with $2bn in capital with the figure set to go up to $4bn.
China was the first but by it won’t be the last Russian partner in constructing such platforms, as the one with Kuwait also being in the pipeline, Dmitriev added. “..We’ll announce 2 more in 3-4 months,” he said. On December 24 the RDIF signed an agreement with State Bank of India (SBI), another country in the BRIC club………………………………………..Full Article: Source

Posted on 09 January 2013 by VRS |  Email |Print

The share of Chinese companies in the Kazakhstan’s Oil and Gas industry will exceed 40% in 2013, KazTag reports, citing an unidentified source.
“After KazMunaiGas EP acquires stakes in Kazakhoil Aktobe, Kazakhturkmunai and Mangistau Investments B.V. from KazMunaiGas, the China’s share will grow substantially China Investment Corporation and its controlled companies already own 30% in KazMunaiGas EP”, the source stressed……………………………………….Full Article: Source

Posted on 09 January 2013 by VRS |  Email |Print

Discussing the Alaska Permanent Fund (APF) and Permanent Fund Dividend (PFD) as a model both for resource policy and for social policy, contributors explore whether other states, nations, or regions would benefit from an Alaskan-style dividend.
Many other jurisdictions could create similar funds and dividends, but most of them under-tax resources, giving resources away to corporations who sell them back to the people. Alaska’s Permanent Fund Dividend looks back at the success of the APF and PFD, and it looks forward (using theory and empirical investigation) to see how the Alaska model can be of use in other places and how the model might be altered and improved………………………………………..Full Article: Source

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