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Sovereign Wealth Funds Briefing 03.Apr 2013

Posted on 03 April 2013 by VRS |  Email |Print

Mohsen Derregia was plucked from nowhere to run the $60 billion fund of the Libyan Investment Authority. He found a mess that he spent a year trying to clean up. Now, as many of LIA’s investments are being reassessed, he’s on his way out. He tells an extraordinary tale of sovereign wealth in a conflict-torn country.
You are a country emerging from a bloody revolution that has ended 42 years of stultifying dictatorship, and you have one crown jewel: a sovereign wealth fund, fed with national oil wealth, with perhaps $60 billion of assets. So where do you go, in these liberated but uncertain times, to find the right man to run it? In Libya in 2011 you went, it turned out, to the University of Nottingham Business School………………………………………..Full Article: Source

Posted on 03 April 2013 by VRS |  Email |Print

Russia could use what it earns from the management of its National Welfare Fund to finance investment projects in the Far East, Prime Minister Dmitry Medvedev said.
“We, as the result of lengthy and complex consultations and debates, which continue on selected positions, have arrived at an unprecedented volume of financing for the state program. It is simply enormous. I suggest the sources [of funding] include revenue from the management of the National Welfare Fund. Pension Fund assets could also be used as possible borrowed funds to carry out investment projects,” Medvedev said………………………………………..Full Article: Source

Posted on 03 April 2013 by VRS |  Email |Print

Qatari Finance Minister Yousef Hussein Kamal said here Tuesday that his country’s assets in Europe are not affected by the ongoing eurozone debt crisis.
In Europe, Qatar Investment Authority, the sovereign wealth fund controlled by the ruling family Al-Thani, owns Harrod’s retail group in London and holds 3 percent of oil giant Royal Dutch Shell and 6 percent of Switzerland’s second largest lender Credit Suisse………………………………………..Full Article: Source

Posted on 03 April 2013 by VRS |  Email |Print

A group of Qatari investors is posed to be the most likely new owner of French department store Printemps, after they presented them with an offer reportedly being up to 2 billion euros. Direct competitor Galeries Lafayette has also approached Printemps owners. Printemps is currently 70 percent owned by Deutsche Bank real estate investment unit RREEF and 30 percent by the Borletti Group, which is headed by Italian businessman Maurizio Borletti.
According to Reuters, Borletti and RREEF had been talking to Qatari investors about selling Printemps to investors for circa 2 billion euro. The deal would be executed by Qatar Holding through its Luxembourg-registered Divine Investments (Disa), the operating arm of the nation’s sovereign fund Qatar Investment Authority………………………………………..Full Article: Source

Posted on 03 April 2013 by VRS |  Email |Print

Abu Dhabi Commercial Bank (ADCB) announced on Tuesday that it has appointed the first woman to its board of directors. The appointment of Aysha Ahmed Sultan Al Hallami, who joined the board alongside Omar Liaqat, was part of the bank’s efforts to promote greater diversity at senior level. Al Hallami is a research Analyst at Abu Dhabi Investment Authority (ADIA).
Eissa Mohamed Ghanem Al Suwaidi, chairman of ADCB, said; “Mrs Al Hallami is the first woman appointed to the bank’s board of directors. This is in line with our efforts to promote greater diversity at board level and it also corresponds with the government’s efforts to empower Emirati women.”……………………………………….Full Article: Source

Posted on 03 April 2013 by VRS |  Email |Print

More than 26,000 people pledged $2.4 million this year from their permanent fund dividends to Alaska non-profits through the Pick. Click. Give program — a new record, the agency announced Tuesday.
The program allows recipients to donate a portion of their permanent fund check to qualifying charities. Total contributions were up 10 percent from last year, and about 3,000 more people participated in the program than in 2012, the agency said in an announcement. Overall, about 4.7 percent of online PFD applicants this year participated in the program. The deadline for applying was Saturday………………………………………..Full Article: Source

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