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Sovereign Wealth Funds Briefing 16.Nov 2011

Posted on 16 November 2011 by VRS |  Email |Print

When China makes overseas investments, it aims to make profits and build influence, not just give away money, the general manager of China Investment Corp (CIC), the world’s biggest sovereign wealth fund, said on Tuesday.

His remarks come as China presses for its demand in exchange for offering financial assistance to Europe to help the region cope with the fiscal debt crisis……………………………………..Full Article: Source

Posted on 16 November 2011 by VRS |  Email |Print

Gao XiqingGao Xiqing, president of China Investment Corp., the country’s sovereign wealth fund, said global markets are more integrated, making it harder to dump sovereign debt investments.

The issue of a country’s financial security has also become “more complex,” Gao said at a forum in Hong Kong today. CIC needs to respect the target countries’ regulations, he said, adding that he observed subtle changes in the attitude toward Chinese investments from western governments when they needed help and when things improved……………………………………..Full Article: Source

Posted on 16 November 2011 by VRS |  Email |Print

Intime Department Store (Group) Co Ltd said the Government of Singapore Investment Corporation Pte Ltd (GIC) would buy a total 134.2 million new and existing shares in the firm, raising its stake to 9.08 percent from 2.44 percent.

In a filing to the Hong Kong bourse late on Tuesday, Intime said it would sell 76.7 million new shares to GIC at HK$9.9 per share, raising HK$747 million ($95.9 million) to fund expansion of its department store network in China……………………………………..Full Article: Source

Posted on 16 November 2011 by VRS |  Email |Print

Temasek Holdings Pte. bought shares of China Construction Bank Corp., a person with knowledge of the matter said, signaling its increased participation in China’s financial sector as U.S. banks retreat.

Temasek bought about a third of the stock that Bank of America Corp. is selling at HK$4.93 apiece, another person with knowledge of the matter said, declining to be identified because the information hasn’t been announced. Two Chinese institutions will buy the rest of the 10.4 billion shares Bank of America is selling, the person said……………………………………..Full Article: Source

Posted on 16 November 2011 by VRS |  Email |Print

It was a very elated President Jonathan that announced at the recent Nigerian Economic Summit (NES) that the government had started the implementation of nation’s Sovereign Wealth Fund (SWF). He however did not fail to thank the governors present for their partnership and cooperation.
The Ministry of Finance has since advertised for the top positions to manage the organisation and has put aside a billion US dollars as its starting seed. This is a welcome development, but it is just a start……………………………………..Full Article: Source

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