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Sovereign Wealth Funds Briefing 15.Apr 2014

Posted on 15 April 2014 by VRS |  Email |Print

Temasek, Singapore’s state investment company, has signalled a big push into the booming sub-Saharan African market, closing on Monday its first major deal in Nigeria.
The move by Temasek, one of the world’s most influential investors, comes amid burgeoning investments in Africa by Singaporean companies and could encourage other global investors, bankers and officials said………………………………………..Full Article: Source

Posted on 15 April 2014 by VRS |  Email |Print

From toothpaste and shampoo in China to instant noodles and tomato paste in Africa, Temasek is betting big on growth in an emerging middle class – a significant shift for Singapore’s $171bn national investment agency, long known for its emphasis on the financial sector.
Last month Temasek struck a $5.7bn deal with Li Ka-shing, Hong Kong’s richest man, for a 25 per cent stake in his AS Watson health and beauty stores business. That came on the heels of a tender offer for Olam in a deal that values the Singapore-listed cashews-to-cotton company at $4.2bn………………………………………..Full Article: Source

Posted on 15 April 2014 by VRS |  Email |Print

As the Minerals Council of Australia launches its latest defence against the fossil fuel divestment campaign and Prime Minister Abbott directs the Clean Energy Finance Corporation to cease financing renewables, on the other side of the world Norway is considering whether to divest its Sovereign Wealth Fund of fossil fuels and invest more of its oil-driven fortune in green technology.
At $840 billion, the Norwegian Sovereign Wealth Fund is the largest shareholder in Europe and owns 1 per cent of all publicly listed companies worldwide. Its investments are spread across more than 8000 companies in 82 countries so, as World Wide Fund for Nature Norway chief executive Nina Jensen points out, “every decision Norway makes on this fund sends signals around the world.”……………………………………….Full Article: Source

Posted on 15 April 2014 by VRS |  Email |Print

$2.7 billion out of the National Oil Fund accumulating windfall oil revenues is to be allocated in 2014 to stimulate the country’s economy growth, Tengrinews.kz reports, citing the country’s Minister of Economic Affairs Yerbolat Dossayev.
“One of the sources to boost the country’s economy growth will be $5.5 billion out of the National Oil Fund to be allocated in 2014 and 2015. $2.7 of the amount will be allocated this year, with $552 million being spent to support small and middle-sized businesses, another $1.3 billion being spent to bolster the country’s banking sector, and $ 828 million to support the Industrial Development Program………………………………………..Full Article: Source

Posted on 15 April 2014 by VRS |  Email |Print

Chile’s state-owned copper producer Codelco needs to invest roughly $30 billion in the next decade to counter dwindling ore grades in its massive mines and deposits, and has not ruled out turning to its sovereign wealth fund to finance such investment, CEO Thomas Keller told Minería Chilena (in Spanish).
The company, which produces about 10% of the world’s copper supply, said that Chile’s sovereign wealth fund reached about US$23 billion by the end of February and that it wouldn’t be the first time Codelco has to make use of those funds………………………………………..Full Article: Source

Posted on 15 April 2014 by VRS |  Email |Print

Biggest sovereign wealth fund from Middle East Qatar Investment Authority once again reduced shares in Agricultural Bank Of China Limited.
Information from the Hong Kong bourse said that Qatar Investment Authority sold off 50 million H-shares in ABC through affiliated Qatar Holding for HKD 3.47 per share or HKD 173.5 million in total, diluting stake from 21.07% to 20.91%………………………………………..Full Article: Source

Posted on 15 April 2014 by VRS |  Email |Print

In the Zimbabwe we want, a Sovereign Wealth Fund must be managed as the country’s endowment to future generations. It is not a fund to be plundered by government and used to meet current needs, but a savings account that must accumulate over time and be used to meet future developmental needs.
We all know that the mining and other resources of a country cannot be replenished. It is therefore important that we save the income generated from those depleting resources now for the future. The fund can also be used to replenish the resource industry in the future and replace industries………………………………………..Full Article: Source

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