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Sovereign Wealth Funds Briefing 01.Feb 2013

Posted on 01 February 2013 by VRS |  Email |Print

Once again, governors of the 36 states have threatened to resume hostilities with the Federal Government on the legal turf of the Supreme Court, over the continued operation of the Excess Crude Account (ECA), following the inability of the two parties to reach an amicable out-of – court settlement, as originally advised by the seven wise men of the apex court.
But as the two parties remained enmeshed in their unending battle, concerns are mounting among major stakeholders in the oil and gas sector, especially in view of a recent British Petroleum (BP) Annual Statistical Review for 2012 just released, which declared that Nigeria’s crude oil reserves and production ratio may not last beyond the next 46 years……………………………………….Full Article: Source

Posted on 01 February 2013 by VRS |  Email |Print

Qatar Holding, an arm of the Gulf nation’s sovereign wealth fund, has announced plans to invest an estimated USD 10 billion into Malaysia. The investment would be directed into petrochemical projects, banking, real estate development and expanding the Harrods Hotel chain.
Around half of this investment would be spent over five years on the Pengerang Integrated Petroleum Complex development in Johor, located south of Malaysia. The 8100-hectare development will feature oil refineries, naphtha crackers, petrochemical plants, a liquefied natural gas import terminal and a re-gasification plant………………………………………..Full Article: Source

Posted on 01 February 2013 by VRS |  Email |Print

UK authorities are probing an allegation that Barclays loaned Qatar money to invest in the bank as part of its cash call at the height of the financial crisis in 2008, which enabled the bank to avoid a UK government bailout.
Barclays turned to Qatar Holding, a subsidiary of the Qatar Investment Authority, and Challenger – an investment vehicle of Sheikh Hamad bin Jassim bin Jabr al-Thani, the prime minister of Qatar and his family – twice in 2008 for a total of £6.1bn. The sheikh – often referred to as HBJ – is also the chairman of Qatar Holding………………………………………..Full Article: Source

Posted on 01 February 2013 by VRS |  Email |Print

The tension between Central Banks that we noted continues to worsen. This time it was China and the EU, not just Germany, that fired warning shots at the US Fed. A senior Chinese official said on Friday that the United States should cut back on printing money to stimulate its economy if the world is to have confidence in the dollar.
Asked whether he was worried about the dollar, the chairman of China’s sovereign wealth fund, the China Investment Corporation, Jin Liqun, told the World Economic Forum in Davos: “I am a little bit worried.” “There will be no winners in currency wars. But it is important for a central bank that the money goes to the right place,” Li said………………………………………..Full Article: Source

Posted on 01 February 2013 by VRS |  Email |Print

Denmark’s €83bn public pension fund ATP made a return of 9% in 2012, with most of it coming from hedging interest-rates and inflation, demonstrating the need for pension funds of to cover these risks in a “challenging” market environment.
ATP’s chairman Jørgen Søndergaard and acting chief executive Henrik Gade Jepsen said in this morning’s results statement that they expected low interest-rates and low growth to persist during 2013. They said: “Large imbalances continue to affect the world economy, and there are still significant risks in the financial markets. Investors face an elevated risk level, while the low interest rates also mean low return prospects. ATP is therefore expecting 2013 to be another challenging year. With this in mind, ATP will continue to maintain a cautious approach to investments.”……………………………………….Full Article: Source

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