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Sovereign Wealth Funds Briefing 27.Mar 2013

Posted on 27 March 2013 by VRS |  Email |Print

China’s sovereign wealth fund China Investment Corp said on Monday that it has signed a memorandum with Russia to boost cooperation in infrastructure projects to develop Siberia. The memo, signed in Moscow on March 22, set out the principles for the two nations to increase cooperation in terms of investment for major projects in Siberia.
The investments will focus on large infrastructure and logistics projects, high value-added projects in the natural resources sector and leading manufacturing and services companies, the statement said………………………………………..Full Article: Source

Posted on 27 March 2013 by VRS |  Email |Print

Last week, 1Malaysia Development Bhd (1MDB) a government-owned entity closely-linked to premier Najib Abdul Razak had a change at its helm. Hazem Abdul Rahman has now taken over the chief executive officer (CEO) role from Shahrol Azral Ibrahim Halmi, who has joined the Performance Management and Delivery Unit (Pemandu).
Surprisingly, no announcements were made and it was via a news report that the update was disseminated. For a high-profile government-owned body which has made billions of ringgit in investments and issued large amounts of bonds, we would have expected more………………………………………..Full Article: Source

Posted on 27 March 2013 by VRS |  Email |Print

Malaysia is expected to become a significant investor in India in the next three to five years, with investors coming through their own projects and investments in India in the first phase. Invest India managing director Anupam Srivastava said the agency is working with the Malaysian government and investment champions to put together internationally benchmarked information on sectors where Malaysia is internationally competitive to invest in various projects in India.
Anupam said the Malaysian sovereign wealth fund Khazanah Nasional Bhd can participate in funding of these types of activities because the rate of returns on investments in infrastructure in India was now averaging between 12% and 19%, which is “quite high” by international standards………………………………………..Full Article: Source

Posted on 27 March 2013 by VRS |  Email |Print

Two-thirds of people believe that superannuation will be a key issue in the lead-up to the September 14 federal election, a new survey has found. More than half (57 per cent) of the 1000 Australians surveyed by Galaxy Research on behalf of superannuation fund Sunsuper, said they are concerned that rumoured super changes in the May budget will negatively impact them in retirement.
Sunsuper’s Teifi Whatley said the survey highlights concerns about the constant tinkering to the superannuation system. “These results send a message to all political parties that Australians are taking notice of the rumoured changes to superannuation, and this is eroding their confidence in the system as a way to save for their retirement,” Ms Whatley said in a statement………………………………………..Full Article: Source

Posted on 27 March 2013 by VRS |  Email |Print

The country’s Excess Crude Account (ECA) was last week depleted to $7.82 billion from $9.242 billion, following approval of the National Economic Council to deduct $2 billion for fuel subsidy payments and sharing among the three tiers of governments.
Governor of Akwa Ibom State, Godwill Akpabio, explained at the end of the meeting held at State House, Abuja that the $2 billion deduction was to facilitate various development projects being executed by the different tiers of government across the country. “An update on the status of the Excess Crude Account was presented by Alh……………………………………….Full Article: Source

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