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Sovereign Wealth Funds Briefing 08.Oct 2013

Posted on 08 October 2013 by VRS |  Email |Print

U.K. fraud prosecutors’ will announce significant developments next year in a probe into fees paid by Barclays Plc (BARC) to Qatar’s sovereign-wealth fund for a 2008 fundraising that helped the bank avoid a bailout.
David Green, director of the U.K. Serious Fraud Office, said in an interview today, the agency would progress its year-old investigation in early 2014. He also said there would be new information in a separate probe into rigging of benchmark interest rates in “due course.”……………………………………….Full Article: Source

Posted on 08 October 2013 by VRS |  Email |Print

NZ Super Fund chief Adrian Orr has been elected deputy chair of the International Forum of Sovereign Wealth Funds (IFSWF) and will ultimately chair the organisation.The IFSWF is a voluntary group of currently 25 sovereign wealth funds located globally.
The appointment is for a two-year term, after which Orr will take on the chairmanship of the IFSWF for a further two years. Orr will take on the role in addition to his responsibilities as chief executive of the Guardians of New Zealand Superannuation, which manages the New Zealand Superannuation Fund. “Sovereign wealth funds have been a rapidly growing influence in the global financial landscape, in terms of their proliferation, assets under management and their stabilising influence as long-term investors,” Orr said………………………………………..Full Article: Source

Posted on 08 October 2013 by VRS |  Email |Print

Poland’s state investment vehicle is to co-finance an oil exploration project run by refiner Grupa Lotos SA in its first-ever project, the fund’s chief executive said Monday. The government last year created the Polskie Inwestycje Rozwojowe fund to invest future privatization proceeds to help economic recovery, and will inject up to 563 million zlotys ($178.8 million) in the exploration project.
PIR will manage about PLN10 billion in assets that are acquired through the privatization of state-owned companies. Later this year Poland plans to sell stakes in its rail freight operator PKP Cargo and utility Energa………………………………………..Full Article: Source

Posted on 08 October 2013 by VRS |  Email |Print

In 2014, State Oil Fund is forecasted to invest AZN 1,921.1 mln in investment projects of national importance.
According to the Ministry of Finance, the investment will concern the measures on the social problems of refugees and internally displaced persons, reconstruction of Samur-Absheron irrigation system, establishment of high-speed fiber-optic network allowing access to all residences, financing of Baku-Tbilisi-Kars railroad, as well as construction of TANAP, and etc………………………………………..Full Article: Source

Posted on 08 October 2013 by VRS |  Email |Print

Norway’s new government pledged to cut income taxes, sell state assets and establish a 100 billion kroner ($16.8 billion) fund to speed up building of infrastructure in western Europe’s largest oil producer.
The Progress Party will enter government for the first time after it was formed as an anti-tax movement in 1973. The party had campaigned on spending more of Norway’s oil wealth and tapping more of its $780 billion sovereign wealth fund………………………………………..Full Article: Source

Posted on 08 October 2013 by VRS |  Email |Print

The government is mulling a new corporation, to be set up by pooling the funds from cash-rich public sector enterprises, for acquiring overseas assets as well as raising money abroad. The proposal comes at a time when India is looking to attract more overseas investments into infrastructure to boost economic growth, which has turned sluggish in recent times.
Meanwhile, the official ruled out the possibility of the government setting up a Sovereign Wealth Fund (SWF). “SWFs can be formed by the governments those have a positive current account balance and fiscal balance. We will need time before we can form such a fund,” the official added………………………………………..Full Article: Source

Posted on 08 October 2013 by VRS |  Email |Print

The Malaysian state investment fund Khazanah Nasional Bhd acquired almost five per cent of Beijing Enterprises Water Group Ltd. for $152 million US to expand in China, making it the company’s third-largest shareholder.
Beijing Enterprises Water plans to use the net proceeds for working capital, the sovereign wealth fund said in a statement. The water-treatment group announced 400 million new shares would be issued at HK$2.95 each (38 cents US) to Mount Reskit Investments Ltd., a unit of Khazanah Nasional, last month……………………………………….Full Article: Source

Posted on 08 October 2013 by VRS |  Email |Print

The government’s investment arm, Khazanah Nasional Bhd, has denied any element of impropriety or illegality in the late declarations of charge card expenses by its staff.
Khazanah said contrary to reports on comments made by DAP Member of Parliament for Segambut, Lim Lip Eng, there is no incidence of false claims or improper and unauthorised expenses concerning the late declarations as highlighted in the 2012 Auditor General’s Report………………………………………..Full Article: Source

Posted on 08 October 2013 by VRS |  Email |Print

Singapore state investment giant Temasek Holdings Pte and Chinese oil group Sinopec Corp aim to snap up a multibillion-euro stake in Spain’s Gas Natural SDG SA, the Financial Times said.
The two groups had contacted Spanish oil firm Repsol YPF SA separately to say they were interested in buying its 4.7 billion euro (US$6.4 billion) stake in Gas Natural, the paper said, citing people close to the process. Spanish company Repsol has a 30 percent stake in Gas Natural and wants to sell most of the investment so as to leave itself with a 5 percent share in the gas firm………………………………………..Full Article: Source

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