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Sovereign Wealth Funds Briefing 25.Jun 2013

Posted on 25 June 2013 by VRS |  Email |Print

South Korea’s Celltrion Inc said on Monday that Temasek, its key shareholder and Singapore’s sovereign wealth fund, has agreed to increase its stake in the biotech firm with an investment of about $130 million, as it awaits European approval of a key drug.
The deal comes after founder and Chief Executive Seo Jung-jin said in April that he would seek a buyer among multinational drugmakers for his controlling interest in the firm, once Remsima, a generic version of Merck & Co’s arthritis drug Remicade, is approved for sale in the European Union………………………………………..Full Article: Source

Posted on 25 June 2013 by VRS |  Email |Print

Singapore’s wealth fund, Temasek, says the withdrawal of liquidity by central banks in the developed world – and the likelihood of higher interest rates – now represent “the key risk” for investors.
Rohit Sipahimalani, co-head of investments at the Singapore wealth fund, which has S$198bn ($155bn) under management, said the policies being pursued by the central banks would further slow growth in emerging markets, and potentially raise the prospect of social unrest………………………………………..Full Article: Source

Posted on 25 June 2013 by VRS |  Email |Print

Managing Director of Kazakh Sovereign Wealth Fund Samruk-Kazyna Joint-stock company Nurjan Baidauletov met with Spanish Minister of Transport, Infrastructure and Communications Ana Maria Pastor within her official visit to Kazakhstan, Samruk-Kazyna said.
Baidauletov is also a co-chairman of the Kazakh-Spainish Business Council. “They discussed the development of Kazakh-Spanish trade and economic cooperation and the implementation of current joint projects in the field of transport and communications,” a statement said………………………………………..Full Article: Source

Posted on 25 June 2013 by VRS |  Email |Print

The newspapers last week, were full of plaints by a senior minister (at the centre). The main charge? Apparently, successive attempts by the central government to set up a “rainy day fund” have been up-ended by the state governors. Worse, these same dastardly types were responsible for the rapid draw-down of the balance previously salted away in the Excess Crude Account (ECA) and the piffling sums we eventually managed to start up the Sovereign Wealth Fund (SWF) with.
This, of course, is a woeful turn of events. Every one of us, at least in our private capacity, is reconciled to the incongruity of eating all that we kill. Something, however little, is required to be kept away, in the event that our best laid plans for tomorrow go awry. Hunger, maybe, but not immediately………………………………………..Full Article: Source

Posted on 25 June 2013 by VRS |  Email |Print

Nigeria Sovereign Investment Authority (NSIA) – managers of the Sovereign Wealth Fund (SWF) – has disclosed that infrastructure and technology multinational, General Electric (GE) will contribute 15 percent in equity in its investment projects.
The CEO of NSIA, Mr Uche Orji disclosed this following a Memorandum of Understanding (MoU) signed by both parties at the WheatBaker Hotel, Ikoyi, Lagos. The Nigeria Sovereign Investment Authority was set up by the country’s National Assembly approved “NSIA Act” in 2011 to promote fiscal stability, build a savings base for future generations and enhance the development of Nigeria’s infrastructure………………………………………..Full Article: Source

Posted on 25 June 2013 by VRS |  Email |Print

The emir of Qatar told his family on Monday he would hand power to his son. The ascent to power of Crown Prince Sheikh Tamim, 33, would provide a stark contrast to other Gulf Arab states whose youthful populations are ruled by kings or princes in their 60s, 70s, 80s and 90s, sometimes with heirs of the same vintage.
Sheikh Hamad bin Jassim has been prime minister since 2007 and has played a central role in positioning Qatar as a regional power broker. He is also vice-chairman of the board of the Qatar Investment Authority (QIA), a position he is expected to retain. QIA has estimated assets of $100 billion to $200 billion………………………………………..Full Article: Source

Posted on 25 June 2013 by VRS |  Email |Print

The Russian Direct Investment Fund (RDIF) and Mubadala Development Company (Mubadala), the Abu Dhabi-based investment and development company, have announced the launch of a $2 billion co-investment fund to pursue opportunities in Russia.
The definitive agreement was announced at the St Petersburg International Economic Forum 2013 by CEO of RDIF Kirill Dmitriev and CEO of Mubadala Khaldoon Al Mubarak……………………………………….Full Article: Source

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