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Sovereign Wealth Funds Briefing 05.Mar 2014

Posted on 05 March 2014 by VRS |  Email |Print

Nine Egyptian public holding companies and their subsidiaries will soon be under an independent sovereign fund. The fund to restructure the public companies will be managed directly by the prime minister’s cabinet, said Hisham Ramez, governor of Egypt’s Central Bank (CEB), following a meeting with newly appointed Prime Minister Ibrahim Mehleb.
Egypt’s public sector was formerly under the investment ministry, which was recently merged with the ministry for foreign trade and industry following last week’s cabinet reshuffle to form a tripartite bureau – Ministry of Investment, Foreign Trade and Industry………………………………………..Full Article: Source

Posted on 05 March 2014 by VRS |  Email |Print

Amidst criticisms over non-accretion to fiscal savings such as the foreign reserves and the Sovereign Wealth Fund, even under current account surpluses, the Nigeria Sovereign Investment Authority (NSIA) has established five subsidiaries in a renewed approach to foster multi-sectoral investments in infrastructure, BusinessDay has gathered.
The NSIA, managers of the nation’s $1.5 billion Sovereign Wealth Fund, (SWF), under the new dispensation to ensure accountability for the common wealth of Nigerians, introduced the NSIA Motorways Company Limited, Power investment, Healthcare and Real Estate investments, some of which have commenced operations………………………………………..Full Article: Source

Posted on 05 March 2014 by VRS |  Email |Print

A ban on fossil fuel investment would ‘’seriously” slow global economic growth, and many of the people advocating such measures were speaking from northern hemisphere points of view, according to BHP Billiton chief executive Andrew Mackenzie.
Speaking in the wake of Norway’s decision to investigate whether its sovereign wealth fund should be banned from investing in coal, oil and gas, Mr Mackenzie said such debates often failed to properly understand the realities of life in poorer and developing countries, where 20 per cent of the world’s population still does not have access to reliable forms of energy………………………………………..Full Article: Source

Posted on 05 March 2014 by VRS |  Email |Print

Some of Australia’s biggest resource companies could lose a major investor if Norway goes through with a plan to ban its famous sovereign wealth fund from investing in coal, oil and gas. Norway’s sovereign wealth fund is the world’s biggest at A$840 billion ($897 billion) and is a major shareholder in companies such as BHP Billiton, Woodside Petroleum and Whitehaven Coal.
A non-government majority in the Norwegian parliament had been edging towards a vote on banning the fund from investing in coal, and the pressure has forced the government to launch a year-long expert review into whether the fund should cease investing in all forms of fossil fuel………………………………………..Full Article: Source

Posted on 05 March 2014 by VRS |  Email |Print

Khazanah Nasional Bhd’s highly paid executives may owe the public an explanation why losses at national carrier Malaysia Airlines ballooned to RM1.2 billion last year, the head of an influential parliamentary committee said.
“They still can’t solve the problem of MAS. We can call them but they are more qualified than us. They are highly qualified people who are paid world standard salaries, so they should do more,” Public Accounts Committee (PAC) chief Datuk Nur Jazlan Mohamed said of government investment arm Khazanah………………………………………..Full Article: Source

Posted on 05 March 2014 by VRS |  Email |Print

The Alberta government is redirecting more than $1 billion from its Heritage Savings Trust Fund to set up endowments to fight poverty and aid agriculture. Premier Alison Redford says with the savings fund growing, it’s time to put some of the money to work helping Albertans and diversifying the economy.
The Social Innovation Fund will be capitalized with $500 million this year and another $500 million the next. It will explore ideas such as using the private sector to find new ways to eliminate poverty and family violence………………………………………..Full Article: Source

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