26.07.2011 - Economic climate still ‘challenging’: GIC
The Government of Singapore Investment Corp., the city’s sovereign wealth fund, said the investment environment remains “challenging” as inflation risks increase and the recovery of developed nations falter. GIC, manager of more than $100 billion of Singapore’s reserves, said in its annual report today that it boosted investments in emerging economies to tap their potentially higher returns, and cut back in Europe and the U.S..............................................Full Article: Source
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