Fri, Jul 25, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS
Sovereign Wealth Funds Briefing 24.Mar 2014

Posted on 24 March 2014 by VRS |  Email |Print

Premier Brad Wall says he hasn’t decided whether his administration will begin directing resources to a new sovereign wealth fund before the provincial government has paid off its sizable debt. “You’re going to see legislation from this government very soon to establish that futures fund,” Wall told reporters at the legislature on Thursday.
Despite not setting aside funds for the program in the 2014-15 provincial budget on Wednesday, Wall maintains that the creation of the proposed Saskatchewan Futures Fund remains a high priority for the government………………………………………..Full Article: Source

Posted on 24 March 2014 by VRS |  Email |Print

Opposition Leader Cam Broten says he wanted to see a stronger commitment to a sovereign-wealth fund in the provincial budget. “Right now, the premier’s sort of trying to have it both ways,” Broten told reporters in Regina after the issue was raised in question period Wednesday. “It’s a rather ambiguous position.”
The budget says the government accepts recommendations made by former University of Saskatchewan president Peter MacKinnon last year that if resource revenues exceed more than 26 per cent of government revenues, the excess should go to paying off debt or to a Saskatchewan Futures Fund………………………………………..Full Article: Source

Posted on 24 March 2014 by VRS |  Email |Print

The world’s largest sovereign wealth fund has sold off its stake in Providence Resources – one of the more active companies working in the Irish oil industry. Norway’s €602.5bn Government Pension Fund, which is managed by Norges Bank, sold off its €1.7m stake in Providence Resources last year.
The decision to pull out of Providence, which is currently drilling oil off the coast of Cork, could be linked to a recent debate in Norway, where the resources-rich country is considering whether its sovereign wealth fund should stop investing in carbon energies – oil, gas and coal companies………………………………………..Full Article: Source

Posted on 24 March 2014 by VRS |  Email |Print

Amid adjustments of microeconomic indicators for the year 2014 the Kazakhstan Government has revised its budget. “We advise to increase the government reserve by $250 million to ensure timely response to emergency situations arising from fluctuations of the economy,” the Minister of Economy and Budget Planning Yerbolat Dosayev suggested at the meeting of the Cabinet.
To compensate the losses connected with the recent devaluation of tenge by nearly 20%, the government increased the projected state expenditures by $221 million. The projects that require immediate financing will be compensated the exchange rate difference. If required, similar measures will be taken into consideration for other projects in the budgeting for 2015-2017………………………………………..Full Article: Source

Posted on 24 March 2014 by VRS |  Email |Print

Middle East funds are helping to drive European commercial property yields lower as they join a rush of international investors snapping up real estate on the continent. Last year about €165.6 billion (Dh838.99bn) of deals were transacted across the continent – a 30 per cent rise on 2012.
The news comes amid a flurry of property investment deals from Middle Eastern sovereign wealth funds in Europe. They completed seven major direct property deals worth a total of US$5.6bn last year, the largest of which was the Kuwait Investment Authority’s $2.7bn deal to buy the 5.2-hectare More London office and restaurant complex near London Bridge………………………………………..Full Article: Source

Posted on 24 March 2014 by VRS |  Email |Print

British utility Thames Water has begun a hunt for international investors to pay for the construction of a 15-mile (24-kilometre) “super-sewer” in London, a British newspaper reported, without citing sources.
Thames, owned by a group led by Australian investment bank Macquarie and including Chinese sovereign fund China Investment Corporation, is expected to get some of the project’s funding from its shareholders. The Independent said the project, called the Thames Tideway Tunnel, would cost 4 billion pounds ($6.60 billion)………………………………………..Full Article: Source

Posted on 24 March 2014 by VRS |  Email |Print

The Norwegian Government Pension Fund, which owns stakes in 130 Malaysian companies via investments of more than RM6 billion, will increase its participation in Malaysia’s growing business sector.
Norwegian Minister of Trade and Industry Affairs Monica Maeland said the current investments and future investments will signal the Scandinavian country’s confidence in the Malaysian economy and its corporate companies’ performances………………………………………..Full Article: Source

Posted on 24 March 2014 by VRS |  Email |Print

Fullerton India Credit Co. Ltd, the non-banking financial arm of Singapore-based $168 billion sovereign wealth fund Temasek Holdings (Pvt.) Ltd, is betting on an increase in revenue from its rural lending business, encouraged by demand for loans to start small enterprises and buy goods such as two-wheelers and small commercial vehicles.
The firm expects 25% of its loan book to originate from rural areas by 2017, up from around 15% today. This revenue contribution of this business is likely to go up to 35% by 2017 compared with 20% today, managing director and chief executive officer (CEO) Shantanu Mitra said in an interview on Wednesday………………………………………..Full Article: Source

Posted on 24 March 2014 by VRS |  Email |Print

Temasek Holdings, Singapore’s sovereign wealth fund, today agreed to buy a 24.9-per cent stake in billionaire Li Ka-shing’s health and beauty chain A S Watson Co, for $5.7 billion.
Temasek, which has a $170 billion investment portfolio, last week led a consortium to buy the remaining stake that it does not already own in commodities trader Olam International, in deal valuing the Singapore-based company at $4.3 billion………………………………………..Full Article: Source

Posted on 24 March 2014 by VRS |  Email |Print

Temasek Holdings Pte’s plan to buy a stake in the retail arm of billionaire Li Ka-shing’s Hutchison Whampoa Ltd. will help the investment firm extend its reach in China and ease its reliance on the nation’s banks.
Singapore’s state-owned investment company agreed on March 21 to buy 25 percent of A.S. Watson & Co. for HK$44 billion ($5.7 billion), marking its biggest acquisition based on data compiled by Bloomberg. The health and beauty chain has stores in more than 20 Chinese cities including Shanghai and Beijing, according to its website………………………………………..Full Article: Source

Posted on 24 March 2014 by VRS |  Email |Print

Temasek Holdings is kickstarting events to mark its 40th year by setting up a $40 million fund to help Singapore prepare for and deal with difficult situations such as emergencies. The Temasek Emergency Preparedness (TEP) fund will give money to programmes that support people in crises including environmental disasters such as haze, or trauma from accidents.
“In Temasek we believe that if you want to do well you have to be prepared all the time,” said Temasek Holdings chairman Lim Boon Heng at a media briefing last Friday………………………………………..Full Article: Source

Posted on 24 March 2014 by VRS |  Email |Print

Temasek Holdings builds for the long term and the money it makes is returned to the community, said chairman Lim Boon Heng. “There is a common thread in what Temasek does: What we do, we do with tomorrow in mind - a quote from one of our founding leaders Mr S Rajaratnam. So we build the institution and we build it for future generations,” said Mr Lim last Friday.
He was speaking to the media as he reflected on the investment company’s 40th anniversary. Set up by the government in 1974 to hold the companies it owns, Temasek has a $215 billion portfolio as at March 31, 2013………………………………………..Full Article: Source

Posted on 24 March 2014 by VRS |  Email |Print

If “the QIA is still committed to owning Sainsbury’s then it wouldn’t be ridiculous for them to be saying to their team: ‘Should we increase our position or should we take Sainsbury’s over and run it as a private business?’”
This was the view expressed this week by Clive Black, head of research and stock broking analyst in food retailing at Shore Capital. Qatar Holding, a wholly owned subsidiary of the Qatar Investment Authority (QIA), is a major shareholder in Sainsbury’s with a 26% stake………………………………………..Full Article: Source

Posted on 24 March 2014 by VRS |  Email |Print

Dubai Investments, a diversified manufacturer and investor in property, plans to increase the limit on foreign ownership of its shares to 35 percent of its total capital, the company said on Sunday.
Foreign investors now hold 13.7 percent of Dubai Investments’ shares out of the total 20 percent allowed, bourse data shows. The firm’s shareholders, including sovereign fund Investment Corp of Dubai which has an 11.5 percent stake, will vote on the proposal at a meeting on April 15, the company said………………………………………..Full Article: Source

See more articles in the archive

July 2014
M T W T F S S
« Jun    
 123456
78910111213
14151617181920
21222324252627
28293031