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Sovereign Wealth Funds Briefing 06.Feb 2014

Posted on 06 February 2014 by VRS |  Email |Print

A delegation from the International Monetary Fund (IMF) met the director of the National Development Fund (NDF) of Iran, IRIB reported on Wednesday. The IMF delegation was led by Martin Cerisola. Safdar Hosseini is the NDF director.
The NDF is Iran’s sovereign wealth fund. It was founded in 2011 to replace Oil Stabilization Fund. The NDF forecasts it total assets increase by $17.5 billion in the next Iranian calendar year, which will begin on March 21, 2014………………………………………..Full Article: Source

Posted on 06 February 2014 by VRS |  Email |Print

The Russian Finance Ministry said on Tuesday it would postpone foreign currency purchases on the forex market to replenish one of its sovereign wealth funds while the rouble is weakening. The ministry said last month it would transfer 207.6 billion roubles ($5.87 billion) of revenues by February 1 to the Reserve Fund, one of the rainy-day funds in which the government saves windfall energy revenues.
The shift could pressure the rouble - already trading near record lows due to a sell-off of emerging market assets - as it would involve converting the revenues from roubles into dollars because the wealth fund is dollar-denominated. “When the central bank every day is taming volatility, we certainly will not harm the central bank,” Deputy Finance Minister Alexei Moiseev told journalists……………………………………….Full Article: Source

Posted on 06 February 2014 by VRS |  Email |Print

In its efforts to stimulate economic growth, the government would do well to set up a sovereign wealth fund with Taiwan’s huge foreign reserves to pump into national development projects. Economic growth is driven by four factors: consumption, investment, net exports and public spending. All four have been stagnant in Taiwan.
Consumption has remained flat because of a decline in real income; investment is actually decreasing on the sluggish global economy; exports have also plunged because of feeble demand from European and American markets; and public spending has not expanded because of the government’s reluctance to increase spending by borrowing………………………………………..Full Article: Source

Posted on 06 February 2014 by VRS |  Email |Print

We need a sovereign wealth fund that would be built on the revenues from the nation’s last great natural resource. Fracking will involve a) industrialising the countryside, b) the risk of various forms of pollution to air, water and the natural environment, c) an excuse for a delay in the decarbonisation of electricity.
It might, possibly, provide a) a secure source of energy for a generation, b) tax revenues, c) a lower-carbon source of energy than coal to ease the passage to power generated entirely by renewables………………………………………..Full Article: Source

Posted on 06 February 2014 by VRS |  Email |Print

Driven by massive planned government spending and attractive valuations, investment funds are becoming much more bullish on Qatari stocks. Abu Dhabi Investment Company (AD Invest) and Kuwait headquartered Global Investment House (GIH) recently noted that Qatari stocks will remain bullish aided by a significant government tailwind and huge fund inflows.
Reuters quoted Afa Boran, head of asset management at Amwal Qatar, as saying: “Qatar has better near-term growth prospects than any other regional market. The government has a significant budget for infrastructure spending which we expect will be largely spent over the next three to five years,”………………………………………..Full Article: Source

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