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Sovereign Wealth Funds Briefing 03.Oct 2011

Posted on 03 October 2011 by VRS |  Email |Print

The Qatari Royal family plans to spend up to $10bn (£6.4bn) buying stakes in gold producers through their sovereign wealth fund. The fund is seeking to invest in a range of natural resources, but gaining access to physical gold is its top strategic priority.
On Sunday, Qatar Holdings, which controls the wealth of the Middle East state’s royal family, confirmed it would invest about $1bn in European Goldfields, a London-listed miner currently developing the largest gold-mining project in Greece……………………………………….Full Article: Source

Posted on 03 October 2011 by VRS |  Email |Print

A Qatari sovereign wealth fund has taken a 10 per cent stake in a Greek gold-mining firm, in a move that confirms that European politicians are increasingly keen to accept assistance from emerging economies in order to ease the eurozone’s debt crisis.
The deal by Qatar Holdings to buy a 9.9 per cent equity stake in European Goldfields from the Greek construction firm, Ellaktor, was approved on Saturday by the Greek Prime Minister, George Papandreou, and the emir of Qatar, Sheikh Hamad Bin Khalifa Al-Thani……………………………………….Full Article: Source

Posted on 03 October 2011 by VRS |  Email |Print

Governor Rauf Aregbesola of Osun State, has described the controversial sovereign wealth fund scheme of the federal government as a direct assault on the country’s federal system of government.
The Governor, in a state broadcast on the occasion of the 51st Independence anniversary, said the Federal Government could not arrogate to itself resources that should belong to the states under the guise of the Sovereign Wealth Funds……………………………………….Full Article: Source

Posted on 03 October 2011 by VRS |  Email |Print

A last-ditch effort to make the 36 state governors to back down on their opposition to the operation of the Sovereign Wealth Fund is in the offing, it was learnt.
One of the governors confided in THISDAY yesterday that President Goodluck Jonathan would soon meet with the governors following the deadlock during talks between them and Minister of Finance and the Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, last Wednesday in a bid to break the impasse over the operation of the fund……………………………………….Full Article: Source

Posted on 03 October 2011 by VRS |  Email |Print

Facts emerged on Sunday that the Senate might not dance to the tune of state governors on the amendment of the Sovereign Wealth Fund. The senators might insist that the law must be implemented.
The law provides that government should save from the country’s excess crude oil earnings as a backup against unforeseen economic challenges. But the governors have mounted pressure on President Goodluck Jonathan to return the Act to the National Assembly for a repeal in order to free more funds for the states……………………………………….Full Article: Source

Posted on 03 October 2011 by VRS |  Email |Print

Venture capitalist Mark Carnegie is calling for higher taxes to be levied on Australia’s richest people to bankroll a sovereign wealth fund to invest for the nation’s future.
Speaking ahead of his appearance at this week’s federal government tax forum in Canberra, Mr Carnegie said the wealthiest 15 per cent of the population should pay an extra 15 per cent in tax……………………………………….Full Article: Source

Posted on 03 October 2011 by VRS |  Email |Print

Rohit Sipahimalani, co-head of Temasek India, will take over from Manish Kejriwal as head of Temasek India. Kejriwal is quitting the firm to start a new fund platform, along with Sunish Sharma, who has left General Atlantic. Sharma was the managing director at GA.
Sipahimalani, 42, joined Temasek India as managing director (investment) in 2008 from Morgan Stanley where he was head of South-East Asia investment banking. He was focusing on telecom and media investment at Temasek……………………………………….Full Article: Source

Posted on 03 October 2011 by VRS |  Email |Print

The Alaska Permanent Fund managers met in Juneau last week to plan for the year ahead and review the remarkable 2011 fiscal year that just concluded on June. 30.
“The only bad thing about fiscal 2011 is that it is over,” said Michael O’Leary, and investment advisor to the board with the consulting firm Callan Associates……………………………………….Full Article: Source

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