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Sovereign Wealth Funds Briefing 12.May 2010

Posted on 12 May 2010 by VRS |  Email |Print

From Gulfbase.com: The Kuwait Investment Authority (KIA) fully supported the government’s request to invest funds into the State’s bourse through the KD 1.5 billion National Portfolio which was one of the measures put in place to cushion the effects of the global economic crisis, according to its Managing Director, Bader M. Al-Sa’ad.
Speaking exclusively to Oxford Business Group (OBG), the global publishing, research and consultancy firm, Al-Sa’ad said that Kuwait’s banking sector was stable and enjoyed the backing of a strong, systemic support system, proving the government’s investments was a success. ………………………………………Full Article: Source

Posted on 12 May 2010 by VRS |  Email |Print

From Channelnewsasia.com: Temasek Holdings and Beijing-based Hopu Investment Management Company are to fork-out more than half a billion US dollars to acquire a stake in leading United States producer of natural gas, Chesapeake Energy Corporation.
The two investment firms have agreed to buy a combined US$600 million in convertible preferred stock of New York-listed Chesapeake Energy, and they have an additional 30-day option to acquire a further US$500m of the stock……………………………………….Full Article: Source

Posted on 12 May 2010 by VRS |  Email |Print

From Abc.net.au: Though it has put its Carbon Pollution Reduction Scheme in the too-hard basket for another three years, the Federal Government is pressing ahead with developing a bigger renewable energy industry.
The “first step”, announced in the Budget by Treasurer Wayne Swan, is a $652 Renewable Energy Future Fund. It will support renewable energy projects, and development of low-emissions technologies, in tandem with private sector funding……………………………………….Full Article: Source

Posted on 12 May 2010 by VRS |  Email |Print

From Dealflowmedia.com: Chesapeake Energy Corp., the second-biggest U.S. producer of natural gas, is raising $600 million from a private placement of convertible stock with Maju Investments (Mauritius) Pte Ltd., a unit of Singaporean sovereign wealth fund Temasek Holdings (Private) Ltd., and Hampton Asset Holding Ltd., a unit of Chinese investment firm Hopu Investment Management Co. Ltd.
Oklahoma City-based Chesapeake Energy also granted the investors a 30-day option to buy up to an additional $500 million of the convertible preferred shares……………………………………….Full Article: Source

Posted on 12 May 2010 by VRS |  Email |Print

From Pharmabiz.com: Fortis Healthcare, Asia’s leading private healthcare provider, has decided to issue 22.35 million equity shares on a preferential basis to GIC Special Investments Pte Ltd (GIC SI) through its affiliated investment vehicle.
GCI SI is the privat e equity and infrastructure investment arm of the Government of Singapore Insvestment Corporation. GIC SI’s investment covers a wide spectrum which includes leveraged buyouts, venture capital, growth capital, mezzanine financing, distressed situations, infrastructure and other special situation investments……………………………………….Full Article: Source

Posted on 12 May 2010 by VRS |  Email |Print

From Swedishwire.com: Norway on Tuesday said it was returning to increased fiscal discipline after having heavily dipped into its oil revenues in order to emerge almost unscathed from the global economic crisis. Nearly all of Norway’s oil revenues are usually poured into its Government Pension Fund, no more than 4.0 percent of which can be used to supplement the state budget in normal times.
In its revised national budget for 2010, the Norwegian government said it was limiting to 131.5 billion kroner (16.7 billion euros, 21.3 billion dollars) its use of oil revenues, 17 billion kroner less than in the initial budget presented in October……………………………………….Full Article: Source

Posted on 12 May 2010 by VRS |  Email |Print

From Reuters: Officials from the European Union and Libya said they were on track to sign their first cooperation pact this year, cementing ties that bring EU countries lucrative trade and help control illegal immigration. Libya’s sovereign wealth fund has invested in European companies, with a focus on former colonial power Italy.
The EU lifted sanctions on energy exporter Libya in 2004 after the country’s leader, Muammar Gaddafi, renounced illegal weapons programmes, but the bloc still has no formal relations and no representative mission in Libya……………………………………….Full Article: Source

Posted on 12 May 2010 by VRS |  Email |Print

From Trustnet.com: Just over one in seven (73 per cent) say exposure to natural resources makes it attractive, whilst 55 per cent say it is due to its increased expenditure on infrastructure.
Some 48 per cent say it is because of the strength of the region’s sovereign wealth funds, which means there is little need for external financing………………………………………Full Article: Source

Posted on 12 May 2010 by VRS |  Email |Print

From Arabnews.com: Qatar Holding, the investment arm of Qatar’s sovereign wealth fund, has set up a $1 billion Indonesian fund to invest in infrastructure and natural resources in Southeast Asia’s biggest economy, officials said on Monday.
The new investment fund is a sign of increasing interest in Indonesia among Middle East and other international investors thanks to the country’s abundant resources and desperate need for financing for infrastructure projects ranging from power plants to roads, railways, and bridges……………………………………….Full Article: Source

Posted on 12 May 2010 by VRS |  Email |Print

From Dailymail.co.uk: There is a certain irony in the oil-rich Gulf state of Qatar snapping up Britain’s most famous department store. Back in 1916 the Arab emirate was a poor British protectorate. It was a convenient staging post for buccaneers en route to colonial interests in India.
But after hitting the big time with oil and discovering the world’s third-largest gas reserves, the tables have turned. The absolute monarchy is now using its former imperial master as a stopping point - its shop window for trophy assets - as it seeks to diversify its energy riches……………………………………….Full Article: Source

Posted on 12 May 2010 by VRS |  Email |Print

Prime Placement Advisers, a specialist in researching pre-placement interest levels for innovative financial and investment products among institutions and other qualified high net worth investors, has been engaged by R S Management Limited (RSM) – developers of the Richman’s Club and The Royal Nanjing Jockey Club, to poll selected Sovereign Wealth Funds, corporations and other qualified investors on their interest level in a proposed issue of Redemption Secured Profit Participation Notes (PPNs).
According to Dr A S Johan, an adviser to RSM, the proposed PPNs are not direct debt nor equity by or in RSM but are a hybrid to be issued pursuant to a binding contract between the issuer and each registered PPN holder. The terms of the PPN would thus become contractual obligations of the issuer in favor of registered holders of PPNs……………………………………….Full Press Release: Source

Posted on 12 May 2010 by VRS |  Email |Print

From Xinhua: Japan’s foreign exchange reserves rose 4.16 billion U.S. dollars at the end of April from a month earlier to 1,046.87 billion U.S. dollars, the Ministry of Finance (MOF) said on Wednesday.
The MOF said the foreign exchange reserves’ first rise in three months was primarily due to increases in the value of U.S. securities holdings……………………………………….Full Article: Source

Posted on 12 May 2010 by VRS |  Email |Print

From News.az: Azerbaijan’s strategic currency reserves were $22bn as of 1 April 2010, six times greater than the country’s foreign debt.
These figures are set out in an by the minister of economic development, Shahin Mustafayev, published in the official press……………………………………….Full Article: Source

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