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Sovereign Wealth Funds Briefing 11.Oct 2011

Posted on 11 October 2011 by VRS |  Email |Print

Nicholas R. LardyTrying to stem a steep decline in the stock prices of China’s four main banks, the nation’s sovereign wealth fund started buying their shares Monday and plans to buy more in the coming year.
That word, disclosed by the banks late in Monday’s trading session, helped their share prices rebound somewhat on the Hong Kong stock exchange……………………………………….Full Article: Source

Posted on 11 October 2011 by VRS |  Email |Print

China’s sovereign-wealth fund stepped in Monday to buy shares of the country’s battered banks, which have been caught in a selloff that analysts say reflects a broader loss of trust in the integrity of corporate earnings and government statistics.
The skepticism of investors comes as China has become increasingly exposed to global markets, largely through stock listings of its state-owned enterprises and other companies, but more recently through its currency and bonds, which are now traded in Hong Kong……………………………………….Full Article: Source

Posted on 11 October 2011 by VRS |  Email |Print

China’s stocks rose, spurring a rebound for the benchmark index from the lowest level in more than two years, after China’s state-run investment arm said it began buying shares of the nation’s four biggest banks.
Industrial & Commercial Bank of China Ltd. climbed the most in six weeks while China Construction Bank Corp., Agricultural Bank of China Ltd.and Bank of China Ltd. jumped at least 2 percent after Central Huijin Investment Ltd. acquired their shares. The stock market pared gains as Yanzhou Coal Mining Co. and its rivals plunged after the government announced higher resource taxes on coking coal……………………………………….Full Article: Source

Posted on 11 October 2011 by VRS |  Email |Print

Ahead of the visit by Russian Prime Minister Vladimir Putin to China this week, Russia’s Vnesheconombank (VEB) and Direct Investment Fund (RDIF) have signed a memorandum of intent with China Investment Corporation (CIC) to set up an investment fund.
Talking to reporters, Yury Ushakov, deputy head of the Russian government’s executive office, said the memorandum had been signed, by CIC Chairman Lou Jiwei , VEB Chairman Vladimir Dmitriev, and RDIF General Director Kirill Dmitriev……………………………………….Full Article: Source

Posted on 11 October 2011 by VRS |  Email |Print

Kuwait, the world’s No. 6 crude exporter is one of the richest countries globally with its sovereign wealth fund, Kuwait Investment Authority (KIA), managing assets in excess of $290bn. It owns stakes in Citigroup , Daimler AG and Agricultural Bank of China among other companies.
Asked whether Kuwait would consider buying euro zone government bonds, including Italian bonds, the OPEC member’s finance minister Mustapha Al Shamali said: “We are open to any investment opportunities in all parts of Europe, as long as these investments are compatible with risk controls and they fall within our investment criteria.”………………………………………Full Article: Source

Posted on 11 October 2011 by VRS |  Email |Print

We know that our annual Permanent Fund dividends boost Alaska’s economy every autumn. But how much are we blowing on airline tickets to Maui and plasma TVs? How much do we toss into the piggybank? What goes to paying down debts and investing in our kids’ college funds?
The long-running program this year gave some 650,000 Alaskans $1,174 apiece from Alaska’s oil-seeded account, and the windfall continues to help distinguish Alaska……………………………………….Full Article: Source

Posted on 11 October 2011 by VRS |  Email |Print

Alaskans celebrated last week as Permanent Fund dividend payments of $1,174 hit bank accounts around the state. Monday, Alaska’s nonprofit organizations had reason to rejoice as the Department of Revenue released preliminary numbers showing they will receive a record amount of money through the “Pick. Click. Give” program.
The program allows Alaskans to donate a portion of their dividend to a local nonprofit group when they sign up online for the annual payment to citizens of a portion of income from the state’s Permanent Fund……………………………………….Full Article: Source

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