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Sovereign Wealth Funds Briefing 26.Jul 2013

Posted on 26 July 2013 by VRS |  Email |Print

The Cabinet on Thursday approved measures to spur economic growth, largely by dipping into a fund that soaks up oil revenues, Economic Development Minister Alexei Ulyukayev said at a Cabinet meeting. The economy grew just 1.7 percent in the year’s first half.
Investment is in decline, as is export, Ulyukayev said. The only economic stimulus in place is the growth of personal incomes, he said. The stimulus package backed Thursday envisages using the money in the National Welfare Fund, now worth $86.5 billion, to invest in infrastructure projects and support bank lending programs for small businesses………………………………………..Full Article: Source

Posted on 26 July 2013 by VRS |  Email |Print

Mubadala Development Co., the Abu Dhabi sovereign wealth fund that restructured a $2 billion investment in Eike Batista’s EBX Group Co., may be interested in more of the billionaire’s businesses after their value slumped.
Many of the commodities holding company’s assets have significant value to a number of parties including Mubadala, according to an e-mailed response to questions today from a fund spokesman, who asked not to be identified citing company policy………………………………………..Full Article: Source

Posted on 26 July 2013 by VRS |  Email |Print

The Nigeria Sovereign Investment Authority (NSIA), operator of the Sovereign Wealth Fund (SWF), is to partner the International Finance Corporation (IFC), a member of the World Bank Group, to develop, finance, and implement infrastructural projects that would contribute to economic growth, job creation and social development in Nigeria.
The partnership, which has been consummated with the signing of a Memorandum of Understanding (MoU) between the NSIA and the IFC, will help mobilise public and private resources that will open the Nigerian market for infrastructure investments in sectors such as housing, healthcare, transport, power and gas………………………………………..Full Article: Source

Posted on 26 July 2013 by VRS |  Email |Print

Qatar and Kuwait are said to be interested in buying a stake in Lloyds Banking Group when the UK government sells its 39 percent holding, worth about £20bn ($30.7bn). The government plans to sell its stake in the UK’s largest bank by market share in three tranches.
The first is expected to be released within weeks but only offered to existing institutional investors including L&G, Blackrock, Norges, Fidelity, Schroders and Standard Life, at a 5-10 percent discount, according to London’s Daily Mail………………………………………..Full Article: Source

Posted on 26 July 2013 by VRS |  Email |Print

Qatar Luxury Group will launch the first boutique for its luxury brand Qela in Doha in late September, selling leather goods, shoes, jewellery and made-to-measure clothing designed with Qatari heritage in mind. It will be followed by a unit in Paris in coming months, a company statement said. An opening in New York is also being considered, a spokeswoman said.
Qatar’s sovereign wealth fund has been one of the world’s most active investors with assets ranging from stakes in German sports car maker Porsche to shares in British bank Barclays. It bought the London department store Harrods in 2010 from Egyptian-born businessman Mohamed Al Fayed in a deal reported to be worth around £1.5bn………………………………………..Full Article: Source

Posted on 26 July 2013 by VRS |  Email |Print

In recent months sovereign wealth funds have been opening.…………………………………………Full Article: Source

Posted on 26 July 2013 by VRS |  Email |Print

Three global firms are in the race to buy a stake in leading Turkish health insurer Acibadem Sigorta, sources familiar with the matter said, underscoring appetite among international investors for the fast-growing sector.
Sompo Japan Insurance, Malaysia’s state-run investment firm Khazanah Nasional Berhad and British medical services group Bupa are involved in an auction process for a stake in the Turkish insurer, three banking sources said………………………………………..Full Article: Source

Posted on 26 July 2013 by VRS |  Email |Print

Infratil and the New Zealand Superannuation Fund stand to at least triple their money on Z Energy in next month’s initial public offering, having used their financial strength to buy the former Shell assets when markets were still reeling from the global financial crisis.
The Wellington-based investment funds contributed about $210 million each toward the $696.5 million purchase price, with the balance funded by debt that has since been repaid or transferred to Z Energy’s books. They plan to list up to 50 per cent-to-60 per cent of the company next month on the NZX and ASX………………………………………..Full Article: Source

Posted on 26 July 2013 by VRS |  Email |Print

The Government of Singapore Investment Corporation has officially shortened its name to GIC Private Limited, the investment company said on Tuesday. It was previously known as the “Government of Singapore Investment Corporation Private Limited”.
This “formalises the widely used brand name of ‘GIC’ in the global investment community and markets that GIC operates in”, the investment firm noted in a statement. “The operations of the company remain unchanged and the name change does not affect the identity of the company or its rights or obligations,” it added………………………………………..Full Article: Source

Posted on 26 July 2013 by VRS |  Email |Print

Some $435 million was allocated for the project on the construction of the Baku-Tbilisi-Kars railway from the start of financing of the project by Azerbaijan’s state oil fund SOFAZ until July 1, 2013, a statement posted on the Fund’s website said.
In the first half of 2013, SOFAZ allocated $3.7 million for the project. Last year, the figure made up $151.5 million. Funds were allocated to the Azerbaijani Ministry of Transport through the International Bank of Azerbaijan in accordance with the agreement signed by the governments of Azerbaijan and Georgia………………………………………..Full Article: Source

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