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Sovereign Wealth Funds Briefing 24.Aug 2009

Posted on 24 August 2009 by VRS |  Email |Print

From Business24-7.ae: Sovereign wealth funds (SWFs) in Gulf oil producing countries need to play a more active role in supporting national budgets to lessen the influence of volatile crude prices on the fiscal balance, according to a Saudi official.

Majed Abdullah Al Moneef, an advisor at the Saudi Ministry of Petroleum and Mineral Resources, said the success of SWFs in the GCC to achieve financial and economic stability hinges on what he described as their flexibility in spending and withdrawal and depositing of funds…………Full Article: Source

Posted on 24 August 2009 by VRS |  Email |Print

From Alibaba.com: China Investment Corp, a $200 billion sovereign wealth fund, has agreed with the Finance Ministry to change the way it pays its funding costs, local media reported Saturday.

To fund CIC, the Finance Ministry issued 1.55 trillion yuan ($226.9 billion) worth of special treasury bonds at an annual rate of 4.3 percent in late 2007 to buy foreign exchange from the central bank…………Full Article: Source

Posted on 24 August 2009 by VRS |  Email |Print

From Meed.com: Sovereign wealth fund Abu Dhabi Investment Council (Adic) has shortlisted three companies for the contract to build its new headquarters complex in the UAE capital.

The shortlisted firms are the local/UK Al-Futtaim Carillion, the local/Lebanese Arabian Construction Company (ACC), and South Korea’s Samsung Corporation…………Full Article: Source

Posted on 24 August 2009 by VRS |  Email |Print

From Digitimes.com: China’s sovereign wealth fund reportedly is considering investing in Taiwan-based Advanced Semiconductor Engineering (ASE) and the back-end service supplier’s affiliate Hung Ching Development & Construction.
But ASE has maintained that China’s sovereign wealth fund has neither been in touch with the company or the subsidiary, nor made any investment…………Full Article: Source

Posted on 24 August 2009 by VRS |  Email |Print

From Channelnewsasia.com: Amid the current global slowdown, some sovereign wealth funds are broadening their investment strategies.

Collaborating with other investors on projects is not a new concept, even for sovereign wealth funds. For a start, Temasek Holdings is planning to engage sophisticated investors…………Full Article: Source

Posted on 24 August 2009 by VRS |  Email |Print

From Straitstimes.com: Temasek Holdings chief executive Ho Ching was once advised by her doctor to stop breastfeeding a week after childbirth.

She had contracted chicken pox. But despite the preventive measure, her baby got the virus too. The doctor then suggested she restart breastfeeding to pass on the antibodies to the baby through the milk…………Full Article: Source

Posted on 24 August 2009 by VRS |  Email |Print

From Reuters: Norway’s $350 billion sovereign wealth fund is aiming to invest 20 billion crown ($3.24 billion) investments over the next five years into water and other environmental technologies, such as carbon-capture storage and waste and pollution management.

The Norwegian fund says water was an important input or production factor for about 1,100 companies in its, whose combined market value is some $43 billion…………Full Article: Source

Posted on 24 August 2009 by VRS |  Email |Print

From Crn.com.au: The Future Fund, which was set up in 2006 to invest budget surplus cash for retired civil servant’s superannuation payments, has dumped 684.4 million Telstra shares.

Despite the massive selloff, the Future Fund still owns 10.9 percent of Telstra, down from 16.4 percent. The Future Fund’s board has committed to not sell any more Tesltra shares for at least 180 days…………Full Article: Source

Posted on 24 August 2009 by VRS |  Email |Print

From Fundstrategy.co.uk: Sovereign wealth funds (SWFs) could give substance to calls to replace the dollar as the global reserve currency, says George Hoguet, a global investment strategist at State Street Global Investors.

Hoguet says the enormous strain put on the financial system by the crisis bred increasingly loud appeals for a reform of the international monetary system. It also highlighted the debate over the introduction of “a new global financial architecture”………..Full Article: Source

Posted on 24 August 2009 by VRS |  Email |Print

From Telegraph: Gulf Air, now wholly owned by the Bahraini sovereign wealth fund after Abu Dhabi, Qatar and Oman surrendered their stakes, is planning more job and route cuts and considering renegotiating the terms of aircraft orders with Airbus and Boeing in its battle for survival.

The airline is also holding the door open for a merger with another airline…………Full Article: Source

Posted on 24 August 2009 by VRS |  Email |Print

From Yorkshirepost.co.uk: An increasing number of sovereign wealth funds are working in concert to make joint strategic investments to reduce risks and maximise returns, which could provide a stabilising force in financial markets.
State-owned funds from China, Singapore, Malaysia, Korea, Abu Dhabi and Kuwait are among those which have recently signed agreements to form investment partnerships with each other…………Full Article: Source

Posted on 24 August 2009 by VRS |  Email |Print

From Gulfnews.com: Now the two companies, with the help of one of Qatar’s sovereign-wealth funds, have at last laid out a road map for a merger by 2011 at the latest.

Many of the details are still rather vague, especially regarding the Qatari investment, but there is no longer any argument about where the two companies are heading…………Full Article: Source

Posted on 24 August 2009 by VRS |  Email |Print

From Ameinfo.com: Sovereign wealth funds (SWFs) and government-owned investment companies (GOICs) may step in to finance infrastructure projects as other pressing requirements compete with it for funding.

‘It’s important that SWFs and GOICs take a profit-driven approach when they participate in infrastructure development. They would also benefit from a broad effort to rationalize the current large number of funds and companies,’ explained Fayad…………Full Article: Source

Posted on 24 August 2009 by VRS |  Email |Print

From tripolipost.com: On the one hand, Libya is diversifying its investments by not looking only North when it comes to Sovereign Wealth Fund investments.
Libya is actively encouraging the rest of the world not to view Africa as too risky to invest in, and hence is prepared to take the lead in joint venture investment into sub-Saharan Africa…………Full Article: Source

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