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Sovereign Wealth Funds Briefing 22.Mar 2013

Posted on 22 March 2013 by VRS |  Email |Print

1Malaysia Development Bhd, the state investment company also known as 1MDB, sold US$3 billion of dollar-denominated bonds on March 19, said a person with knowledge of the transaction. The securities are long-dated, said the person who asked not to be named as the information is private. 1MDB chief financial officer Azmi Tahir declined to comment on the matter.
The Kuala Lumpur-based company has RM10.8 billion of notes outstanding, according to data compiled by Bloomberg. This is the second dollar-denominated offer by the sovereign-wealth fund. It sold US$1.75 billion of 10-year debt to yield 5.99 per cent in May 2012. The securities were rated Aa3 by Moody’s Investors Service, the fourth-highest investment grade………………………………………..Full Article: Source

Posted on 22 March 2013 by VRS |  Email |Print

Mumtalakat Holding Company, the investment arm of the Kingdom of Bahrain, has recently signed a Memorandum of Understanding (MoU) with the Japanese SBI Pharmaceuticals Co. Ltd. (SBI) on the sidelines of the current visit to Japan of HRH Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander, First Deputy Prime Minister and Chairman of the Economic Development Board (EDB).
The MoU formalizes an understanding between both parties to explore various areas of cooperation in the pharmaceutical industry, including research, development, and production of pharmaceutical products………………………………………..Full Article: Source

Posted on 22 March 2013 by VRS |  Email |Print

Everyone wants a piece of Qatar it seems or, more specifically, Qatari money. The small Gulf state’s influence in the UK, and London in particular, is becoming more evident. It is a joint owner of London’s newest landmark, the Shard, it stepped in to provide funds for Barclays back in 2008 which helped the bank avoid being semi-nationalised, and has bought a 20% stake in the company that owns Heathrow airport.
The list of what else it owns through its sovereign wealth fund - the government-controlled investment fund - goes on. Harrods, a 20% stake in Camden market, a 26% stake in supermarket Sainsbury’s to name but a few………………………………………..Full Article: Source

Posted on 22 March 2013 by VRS |  Email |Print

Qatar emerged as the world’s wealthiest country in 2010 with a per capita income of $88, 559, having overtaken Luxembourg, and continued with its top ranking the next year (2011). Washington-based Institute for International Finance (IIF) has reported that Qatar’s per capita GDP at purchasing power parity (PPP) was $106,000 (QR387,000) in 2012, helping the country retain its ranking as the world’s wealthiest nation.
As for Qatar Investment Authority (QIA), the UK-based TheCityUK ranked it 12th among the world’s sovereign wealth funds in terms of asset size in the year 2012. The assets of the QIA totalled $115bn. TheCityUK said in a report titled ‘Sovereign Wealth Funds’ released this month that the profile of sovereign wealth funds had risen considerably since 2007………………………………………..Full Article: Source

Posted on 22 March 2013 by VRS |  Email |Print

India and Kuwait on Monday held extensive discussions to explore opportunities for Kuwaiti investment in refineries in the country. Indian External Affairs Minister Salman Khurshid held talks with his Kuwaiti counterpart Sheikh Nasser Sabah Al Ahmed Al Jaber Al Sabah on various bilateral issues including ways to exploit potential Indian project exports to Kuwait.
The visiting dignitary, who is on a three-day visit to India, is accompanied by officials of the Kuwaiti Investment Authority and Kuwait Petroleum as well as Kuwait Chambers of Commerce………………………………………..Full Article: Source

Posted on 22 March 2013 by VRS |  Email |Print

Chinese President Xi Jinping’s upcoming visit to Russia will bring the financial cooperation between the two countries to a new height, a Russian banker says. Financial cooperation constitutes a crucial part of bilateral comprehensive strategic partnership of coordination, Alexander Ivanov, deputy head of the Vnesheconombank (VEB), said.
Last June, Chinese Investment Corporation and Russian Direct Investment Fund established a 4-billion-dollar Russia-China Investment Fund. “This fund invests into infrastructural projects and contributes a lot to job creation both in Russia and China,” he said………………………………………..Full Article: Source

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