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Sovereign Wealth Funds Briefing 15.Nov 2011

Posted on 15 November 2011 by VRS |  Email |Print

Temasek Holdings Pte, Advent International Corp. and at least three other investors are in talks to buy a controlling stake in STP - Servicos & Tecnologia de Pagamentos SA, a Brazilian electronic-toll-collection company, two people familiar with the negotiations said.

STP, based in Osasco, hired Banco BTG Pactual SA to sell an undisclosed stake to fund expansion, said one of the people, who declined to be identified because the transaction is private………………………………………Full Article: Source

Posted on 15 November 2011 by VRS |  Email |Print

China’s $US400 billion sovereign wealth fund, China Investment Corp, has launched an in-depth review into whether Beijing should rescue the troubled Oakajee port and rail project in Western Australia’s Mid-West or walk away from the region altogether.

In a highly unusual move, China’s peak economic planning body, the National Development and Reform Commission, has ordered the CIC to conduct due diligence on the planned $5.9bn infrastructure project………………………………………Full Article: Source

Posted on 15 November 2011 by VRS |  Email |Print

The Sovereign Wealth Fund is a common pool of funds to cushion the effect of a financial crunch when such seasons emanate. The necessity of this has been a subject of controversy, and the response from essentially the states and local government has been circumspect, if not defiant.

While we may advance all good reasons in support of why we should remain as a united country, yet the perception of mutual distrust that attended to the pre-independence era has remained unsuppressed in spite of all the institutions and activities that have been created to foster our unity………………………………………Full Article: Source

Posted on 15 November 2011 by VRS |  Email |Print

A bill to amend the implementation of the controversial Sovereign Wealth Fund (SWF) is now before the National Assembly for consideration. It is expected that the bill for the amendment of the SWF sponsored by Senator Ita Enang would address the compulsory transfer of money from the Excess Crude Account to the SWF.

Enang who fielded questions from journalists in Uyo, Akwa Ibom State capital, expressed optimism that the bill will survive saying the problem in the SWF requires constitutional approach not legal issue………………………………………Full Article: Source

Posted on 15 November 2011 by VRS |  Email |Print

Origin Agritech Ltd. named James Chen chief financial officer as the supplier of crop seeds in China continues to see top-level management changes.

Chen was an investment manager at Abu Dhabi Investment Authority, the sovereign wealth fund owned by the Government of Abu Dhabi. He succeeds interim chief financial officer Irving Kau. A company spokesman wouldn’t provide further details about Kau’s status with Origin Agritech………………………………………Full Article: Source

Posted on 15 November 2011 by VRS |  Email |Print

The euro zone is working on two options for how to boost the firepower of its 440 billion euro (377 billion pound) European Financial Stability Facility bailout fund without putting more money into it.

Rather than buy all the bonds of distressed sovereigns itself, the EFSF aims to increase private demand for them by offering partial guarantees in various forms………………………………………Full Article: Source

Posted on 15 November 2011 by VRS |  Email |Print

Insurers and sovereign wealth funds could supply more than three times the equity needed to plug an estimated global funding gap that has fallen 27% to $142bn (€103bn) over the past six months, according to research by DTZ.

The firm increased its forecasts for non-bank lending over the next three years from $80bn to $150bn based on new capacity as a result of lending from insurers and other non-bank lenders………………………………………Full Article: Source

Posted on 15 November 2011 by VRS |  Email |Print

A bipartisan group of Alaska state legislators hopes to force managers of the $37 billion Alaska Permanent Fund to dump the stocks of companies doing business in Iran, but past efforts to divest from Sudan, South Africa and tobacco all came to nothing in spite of public outcry and political noise.

“No bill has ever passed that would require the fund to engage in social investing, and the (Permanent Fund) has never done any social investing under our own authority,” said Laura Achee, spokeswoman for the Permanent Fund, the state’s oil-wealth investment account………………………………………Full Article: Source

Posted on 15 November 2011 by VRS |  Email |Print

Republicans and Democrats in the Alaska Legislature have sponsored bills requiring the state’s permanent fund and government retirement accounts to divest themselves of stock in companies that do business with Iran, citing the country’s threats to the world and its own citizens.

“I think this is a unique situation,” said Sen. Bill Wielechowski, D-Anchorage. “You have a country that is recognized as supporting terrorism, has recognized human rights violations, is creating a nuclear program that is a threat to the entire world, and that is using money from investments being made there to kill Alaskan and American soldiers.”……………………………………..Full Article: Source

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