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Sovereign Wealth Funds Briefing 11.May 2009

Posted on 11 May 2009 by VRS |  Email |Print

From Gulf-times.com: Middle East sovereign wealth funds can play an important role in stabilising regional economies amid the global financial crisis, the International Monetary Fund said yesterday.
Two of the region’s largest funds, Kuwait Investment Authority (KIA) and Abu Dhabi Investment Authority have repatriated funds and deposited them in local banks in an effort to boost liquidity in recent months, IMF said…….Full Article: Source

Posted on 11 May 2009 by VRS |  Email |Print

From Channelnewsasia.com: Experts said sovereign wealth funds (SWFs) are not expected to play an active role in the re-capitalisation of US banks in the short term, because many of these funds have been severely hit by the financial crisis.

Stress test results show that 10 financial institutions in the US have to raise some US$75 billion to boost their capital…….Full Article: Source

Posted on 11 May 2009 by VRS |  Email |Print

From Thenational.ae: DP World, the largest port operator in the Middle East says its parent company, Dubai World, has received an approach from a private equity group about buying a stake in the company.

A deal could trigger renewed interest in the region’s private equity industry, which has seen buyout deals slow to a trickle since the onslaught of the financial crisis…….Full Article: Source

Posted on 11 May 2009 by VRS |  Email |Print

From WSJ: Intergovernmental transactions grew remarkably in the years leading up to the credit crisis. Too often, these transactions ignored long-term costs and benefits, sustainability and risk efficiency.

Most notable was China, which helped fuel U.S. overconsumption by buying more than $1 trillion of United States Treasury and government-agency debt securities since 2004…….Full Article: Source

Posted on 11 May 2009 by VRS |  Email |Print

From Business-standard.com: The finance ministry and the Reserve Bank of India (RBI) has asked the Securities and Exchange Board of India (Sebi) to examine whether a proposal by Temasek Holdings and Government of Singapore Investment Corporation (GIC) to increase their stakes in ICICI Bank would trigger the takeover code under which they would have to make an open offer to buy an additional 20 per cent.
The Singapore government has sought clarification on a proposal for the two companies to increase their stakes in ICICI Bank to 20 per cent, each holding 10 per cent…….Full Article: Source

Posted on 11 May 2009 by VRS |  Email |Print

From WSJ: Hunan Valin Iron & Steel Group executives said China’s sovereign-wealth fund may help finance expansion at Fortescue Metals Group Ltd. through debt rather than stock purchases, as the Chinese steel group became the Australian iron-ore miner’s second-biggest shareholder.

The comments — along with Canberra’s approval Friday of a tie-up between Anshan Iron & Steel Group Corp. and Gindalbie Metals Ltd. — underscore the trend of Australian miners turning to deep-pocketed Chinese investors who are keen to secure overseas resources…….Full Article: Source

Posted on 11 May 2009 by VRS |  Email |Print

From Xinhua: Asian nations recently reached an initial agreement on the establishment of a foreign-exchange reserve pool by year-end to revive investor confidence as economies around the region falter amid the worst global economic recession since World War II.

Japan, Asia’s largest economy, will contribute $38.4 billion, 32 percent of the total reserve while the Chinese mainland and Hong Kong together will add a matching amount. South Korea’s share will be $19.2 billion, or 16 percent…….Full Article: Source

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