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Sovereign Wealth Funds Briefing 09.May 2014

Posted on 09 May 2014 by VRS |  Email |Print

Singapore sovereign wealth fund GIC has bought a stake in Brazilian online sports goods retailer Netshoes in a further diversification of its vast global portfolio. GIC said in a statement that it led a new round of investment in Netshoes of $170 million, along with other investors including Singapore state investment arm Temasek Holdings, Tiger Global Management, Iconiq Capital and Kaszek Ventures.
It did not give a breakdown of the investment in Netshoes, which has a network in sports-crazy Brazil, Argentina and Mexico………………………………………..Full Article: Source

Posted on 09 May 2014 by VRS |  Email |Print

Investment Corporation of Dubai’s revenue rose 18 percent in the first half of 2013, the fund said in financial results made available before its debut bond offering.
The fund, which holds stakes in some of the emirate’s top companies, had revenue of 91.2 billion dirhams ($24.8 billion) for the six months ending June 30, 2013, compared with 77.3 billion dirhams in the same period in 2012, according to a prospectus for the bond sale obtained by Reuters………………………………………..Full Article: Source

Posted on 09 May 2014 by VRS |  Email |Print

Investment Corporation of Dubai (ICD) has netted a Dh1 billion windfall from Emirates Group after its profits grew by almost a third. The dividend is similar to the one paid in the previous financial year, Emirates Group said.
Dubai’s main carrier, Emirates Airline, reported a 43 per cent increase in profit as it added more passengers and fuel prices fell. Emirates is part of ICD, one of the big three government-related holding companies in the emirate. ICD generated revenue of US$43.8bn in 2012……………………………………….Full Article: Source

Posted on 09 May 2014 by VRS |  Email |Print

Norway’s energy boom is tailing off years ahead of expectations, exposing an economy unprepared for life after oil and threatening the long-term viability of the world’s most generous welfare model.
The Scottish National Party’s argument in favour of independence has centred on the promise that Scotland can replicate the success of Norway’s oil economy, creating a sovereign wealth fund for future generations, while public coffers would be only half as dependent on oil and gas………………………………………..Full Article: Source

Posted on 09 May 2014 by VRS |  Email |Print

Assets managed by money managers in the Asia-Pacific region will surge 40 percent to $14 trillion by 2018, generating fees worth $66 billion, consultant Casey, Quirk & Associates LLC said in a study released Thursday.
Sovereign wealth funds and government entities, on the other hand, will prove harder clients to target as they move to manage assets internally, the consultant said………………………………………..Full Article: Source

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