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Sovereign Wealth Funds Briefing 21.Aug 2013

Posted on 21 August 2013 by VRS |  Email |Print

Unitech Corporate Parks, a Unitech group firm listed in London, is negotiating with the private equity firm Blackstone and Singapore’s sovereign wealth fund GIC to sell its IT special economic zone (SEZ) in Gurgaon for about Rs 2,700 crore.
Unitech Corporate Park (UCP), which is listed on the AIM of the London Stock Exchange, is developing an IT SEZ ‘IST Infospace Gurgaon’ with leasable area of 3.6 million sq ft. UCP holds 60 per cent in this project, while realty firm Unitech has the remaining 40 per cent stake………………………………………..Full Article: Source

Posted on 21 August 2013 by VRS |  Email |Print

In 2014 Azerbaijan can lower the spending of the Oil Fund’s money. A government source says that next year the State Oil Fund of Azerbaijan (SOFAZ) can reduce the size of the transfer to the state budget.
“Such prospects are associated with plans to reduce public investment in the economy in the next fiscal year,” the source said. In this regard, consideration of scenario of country’s development under conditions when the volume of investments reduces is already underway………………………………………..Full Article: Source

Posted on 21 August 2013 by VRS |  Email |Print

Alistair Darling has acknowledged that the UK should have invested its North Sea oil bounty for future generations, but warned voters that remaining reserves cannot be both “spent and saved” by future governments.
Asked yesterday about Norway’s decision to save up its own oil cash in contrast to Britain, the leader of the pro-Union Better Together campaign said that “if we had our time over again, perhaps we should have”. He added: “But it’s a bit like regretting what happened in the 19th century. It has happened, I’m afraid.”……………………………………….Full Article: Source

Posted on 21 August 2013 by VRS |  Email |Print

The National Shipping Company of Saudi Arabia (Bahri) has entered into a Memorandum of Understanding (MOU) with Saudi Aramco and Sembcorp Marine Ltd (a leading global marine and offshore engineering group based in Singapore) to conduct a feasibility study for the development of a world-class maritime yard in Saudi Arabia.
Bahri, which is 28 percent owned by the state-owned Public Investment Fund, agreed a $1.3 billion merger with Vela International Marine in October………………………………………..Full Article: Source

Posted on 21 August 2013 by VRS |  Email |Print

Bank Muamalat Malaysia Bhd is said to be revisiting the idea of a merger, this time with a development financial institution (DFI), sources said. Khazanah Nasional Bhd owns 30% of Bank Muamalat.
Among the possible candidates are Bank Rakyat Malaysia Bhd and Malaysian Industrial Development Finance Bhd (MIDF), the sources added………………………………………..Full Article: Source

Posted on 21 August 2013 by VRS |  Email |Print

RAM Rating Services Berhad has reaffirmed Bahrain Mumtalakat Holding Company’s MYR 3 billion ($920 million) sukuk murabahah programme with a long-term rating of AA2 and a stable outlook. This rating represents a strong investment grade credit rating profile, said a statement.
Commenting on the rating announcement, Mahmood Hashim Al Kooheji, chief executive officer of Mumtalakat, said: “The strength of our business strategy and sustainability of favourable long-term financial prospects have been underscored with RAM Rating Services reaffirmation of the AA2 long-term rating and stable outlook of Mumtalakat’s Sukuk programme.”……………………………………….Full Article: Source

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