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Sovereign Wealth Funds Briefing 24.May 2010

Posted on 24 May 2010 by VRS |  Email |Print

From Gulf-times.com: The UAE is tapping its $328bn sovereign wealth fund to invest in gas-rich Turkmenistan, seeking fuel for its own use while potentially challenging Russia’s dominance as a supplier to Europe.
“We want to invest and we’ve been conducting negotiations for a long time,” UAE Oil Minister Mohamed al-Hamli said in an interview this month in the Turkmen capital, Ashgabat. “We have a special relationship with Turkmenistan. There is a genuine interest and a genuine determination with both countries to exploit this possibility.”……………………………………..Full Article: Source

Posted on 24 May 2010 by VRS |  Email |Print

From Business-standard.com: DLF, India’s largest real estate company, is in talks with sovereign wealth funds — Government of Singapore Investment Corporation (GIC), Abu Dhabi Investment Authority (ADIA) and Kuwait Investment Authority — to sell majority stake in luxury hotel chain Aman Resorts.
Sources close to the development told Business Standard that the deal could be worth around Rs 2,000 crore………………………………………Full Article: Source

Posted on 24 May 2010 by VRS |  Email |Print

From Chinadaily.com.cn: Singapore state investor Temasek Holdings is studying plans to build a 1,450 square kilometer food zone in northeastern China in a bid to diversify the city-state’s food supply.
The food zone near the Chinese city of Jilin is a proposed collaboration with Chinese regional authorities in agricultural and food processing, Temasek unit Singbridge said in a statement………………………………………Full Article: Source

Posted on 24 May 2010 by VRS |  Email |Print

From Bloomberg: Temasek Holdings Pte lost a final Supreme Court appeal on a ruling stating the Singapore state- owned investment company breached Indonesia’s anti-monopoly laws.
The Supreme Court in September 2008 upheld a ruling by the nation’s competition regulator, which said Temasek breached antitrust laws by using indirect stakes in PT Telekomunikasi Selular and PT Indosat to fix prices, Junadi Masjhud, a spokesman at the nation’s anti-monopoly body said in an e-mailed statement today………………………………………Full Article: Source

Posted on 24 May 2010 by VRS |  Email |Print

From WSJ: China Investment Corp., the $300 billion sovereign wealth fund, said Thursday it had appointed two former senior Chinese bankers to its management team, a move that comes as the fund steps up its overseas expansion while continuing to reform the state banking sector.
The fund is making changes to its management team, less than three years after it was established in late 2007, as it adjusts its overseas portfolio amid uncertainties in the global economy. ……………………………………..Full Article: Source

Posted on 24 May 2010 by VRS |  Email |Print

From Business24-7.ae: Gulf countries and other Arab oil producers should use part of their overseas savings to fund hydrocarbon expansion projects to offset the squeeze in global liquidity. “Arab governments should continue making up for shrinking foreign capital inflows to the region by reallocating internally more of the assets invested abroad by their sovereign wealth funds,” an official Arab group said.
The Dammam-based Arab Petroleum Investment Corporation (Apicorp), which groups 10 Arab oil producers, said the global fiscal distress had forced regional nations to shelve several projects, adding that this had largely depressed the value of energy investments………………………………………Full Article: Source

Posted on 24 May 2010 by VRS |  Email |Print

From IPE: Has the Yale endowment model, which is followed to varying degrees by endowment and sovereign funds throughout Asia, become irrelevant? The question was asked by many of Asia’s most active investors when their portfolio returns slid 20% to 30% in the 2008-2009 period.
But with a change in fortune comes another re-think. Now, institutional investors are increasing their allocations to other areas of the alternative universe; namely real assets such as water, timber, natural resources and real estate………………………………………Full Article: Source

Posted on 24 May 2010 by VRS |  Email |Print

From Marketwatch.com: The State Administration of Foreign Exchange (SAFE) is leading a policy adjustment that taps China’s huge stash of foreign reserves for overseas loans through commercial banks.
Under an evolving reform project launched in recent months, SAFE has taken initial steps toward giving policy and commercial banks authority to handle loans for intergovernmental cooperation projects. ……………………………………..Full Article: Source

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