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Sovereign Wealth Funds Briefing 31.Jan 2013

Posted on 31 January 2013 by VRS |  Email |Print

Kazakhstan’s sovereign wealth fund said it’s seeking to cut the share of deposits it has in foreign banks and provide more liquidity to domestic lenders.
Banks hold 2.9 trillion tenge ($19 billion) for companies owned by the Samruk-Kazyna fund, while 24 percent of that amount is deposited in foreign banks, Deputy Chief Executive Officer Yelena Bakhmutova told reporters in Almaty. The fund plans to cut the share in foreign banks to 10 percent of total deposits in two years, she said………………………………………..Full Article: Source

Posted on 31 January 2013 by VRS |  Email |Print

Qatari Diar was left pondering its options about what to do with one of the world’s most expensive housing schemes. The property arm of the Qatari sovereign wealth fund announced it had put its US$3 billion (Dh11.02bn) Chelsea Barracks project in prime central London on hold because of doubts about whether the scheme of 448 luxury flats would financially stack up.
Qatari Diar said it was “currently refining its strategy for the development of this unique site to progress and realise its vision for this important part of London”……………………………………….Full Article: Source

Posted on 31 January 2013 by VRS |  Email |Print

Ms. Elena Bakhmutova, Vice Chairwoman of the Samruk Kazyna Sovereign Wealth Fund Board, commented on Russia’s Sberbank President German Gref’s concerns over the Fund’s policy towards banks.
Mr. Gref earlier expressed concerns that Kazakhstan is taking steps to restrict operations of foreign banks in Kazakhstan, including those of Sberbank. Notably, he referred to suggestions to set limits on deposits of national companies [owned by Samruk Kazyna] kept with foreign banks. According to him, this measure is discriminating against foreign banks and is an obstacle to fair competition within the Single Economic Space………………………………………..Full Article: Source

Posted on 31 January 2013 by VRS |  Email |Print

Excess crude account - Govs insist on supreme court resolution. The 36 state governors, under the aegis of the Nigeria Governors Forum (NGF), yesterday lambasted the federal government over its attitude to the management of Excess Crude Account and resolved not to entertain further adjournments of the case pending at the Supreme Court.
Several attempts for an out-of-court settlement at the instance of the federal government had failed to appease the governors who described the deductions made by the federal government from the account as illegal. The governors stated this after their first meeting for the year, which was chaired by Rivers State Governor Rotimi Amaechi………………………………………..Full Article: Source

Posted on 31 January 2013 by VRS |  Email |Print

The number on every Alaskan’s mind was announced Tuesday morning by Revenue Commissioner Bryan Butcher in Anchorage. This year’s Alaska Permanent Fund dividend payout is $878. The dividend will be distributed to eligible Alaska residents on Oct. 4.
Altogether, there were 677,333 Alaska PFD applicants this year, and about 646,805 should qualify, Butcher said. The amount of money disbursed will be a little over $567 million. The oldest applicant was 107 years old, and the youngest was born “minutes before” the qualification deadline on December 31, 2011………………………………………..Full Article: Source

Posted on 31 January 2013 by VRS |  Email |Print

Gov. Rick Perry gave his public blessing this week to use billions from the state’s emergency piggybank to build roads and secure water. Left unsaid was his belief that spending from the Rainy Day Fund shouldn’t stop there.
During his State of the State address Tuesday, Perry called for spending $3.7 billion from the politically thorny fund for one-time infrastructure projects. Not announced to a packed House chamber was that in his budget proposal sent to lawmakers that same day, Perry suggests using nearly another $1 billion from the fund in tax relief………………………………………..Full Article: Source

Posted on 31 January 2013 by VRS |  Email |Print

CVC Capital Partners Ltd., the private-equity firm whose investments include Formula One racing and Samsonite luggage, is targeting 9 billion euros ($12.2 billion) for one of the largest buyout pools currently being sought, according to three people familiar with the matter.
CVC, which last year sold a stake in itself to three sovereign-wealth funds, plans to remain private, unlike some of its U.S. competitors………………………………………..Full Article: Source

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