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Sovereign Wealth Funds Briefing 27.Jun 2013

Posted on 27 June 2013 by VRS |  Email |Print

Angola’s Sovereign Wealth Fund has been struggling for credibility since its high-profile launch in October last year. For seven months, the Fundo Soberano de Angola (FSDEA) appeared to talk big but do little. However, after rather embarrassingly missing its own self-imposed deadline to publish its investment policy by the end of the first quarter of 2013, the FSDEA has finally - three months later - given us a glimpse of how it plans to use its pot of US$5billion.
In a statement delivered last Friday afternoon - possibly the worst time to break news in Africa, especially something financial - the FSDEA said the Angolan Government had approved its investment policy. It was also announced that Jose Filomeno de Sousa dos Santos, the eldest son of Angola’s long-serving President, Jose Eduardo dos Santos, would be the fund’s chairman………………………………………..Full Article: Source

Posted on 27 June 2013 by VRS |  Email |Print

Serbia’s Minister of Finance and Economy Mladjan Dinkic talked on Wednesday with officials of the Qatar Investment Authority about prospects for investing into Serbia, the ministry announced. Qatar’s delegation, which was headed by Sheikh Faisal Saud al-Thani, showed interest in projects in the fields of agriculture, food production, energy, mining and infrastructure.
Dinkic informed Qatar’s delegation about Serbia’s strategic plans for economic growth and presented concrete proposals and investment opportunities. The officials agreed that businessmen of the two countries should step up contacts, which would contribute to bolstering trade between Serbia and Qatar, the release reads………………………………………..Full Article: Source

Posted on 27 June 2013 by VRS |  Email |Print

The manager of Qatar’s rise to global prominence, former Prime Minister Sheikh Hamad bin Jassim al-Thani, used charm, tenacity and economic clout to broker peace and topple dictators overseas and build an investment nest-egg for future generations at home.
There was no immediate word on whether he would retain his job as vice chairman of the Qatar Investment Authority (QIA), a sovereign wealth fund with assets believed to be $100-200 billion, although Qatar watchers expect him to keep that job………………………………………..Full Article: Source

Posted on 27 June 2013 by VRS |  Email |Print

Bahrain Mumtalakat Holding Company announced today the appointing of Gulf Aviation Academy’s new board of directors. The new board of directors of GAA will be chaired by Captain Ishaq Rashid Al Kooheji and comprises the following membership: Mr. Ahmed Abdulrahman Al-Ali, Mr. Hadi Al Alawi, Mr. Ahmed Al-Na’ama, and Mrs. Khulood Al-Qattan.
Welcoming the appointing of the new board, Mumtalakat’s CEO, Mr. Mahmoud Hashim Al-Kooheji, said: “We’re delighted to welcome the new board members and we look forward to the positive contribution that they will be adding to GAA’s business. The new board’s wealth of experience makes them well-placed to continue with GAA’s vision in becoming the future of high quality professional aviation training academy in Bahrain and the MENA region”. (Press Release)

Posted on 27 June 2013 by VRS |  Email |Print

Vladimir Putin President of Russia said that the Russian government will invest up to RUB 450 billion in infrastructure projects from its sovereign wealth fund together with private capital. Putin said that up to half the money to be invested in the projects will come from the National Welfare Fund, Russia’s USD 87 billion sovereign wealth fund made up of windfall oil export revenues.
He said that “Key conditions will be an assessment by private business that the projects are viable and effective, and co-financed from their side.” Mr Putin said that the infrastructure projects should eventually return the money invested………………………………………..Full Article: Source

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