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Sovereign Wealth Funds Briefing 09.Dec 2011

Posted on 09 December 2011 by VRS |  Email |Print

Investment organisations and sovereign wealth funds from the United Arab Emirates will be exempt from taxation in Russia under an agreement signed on Wednesday, the Gulf oil producer’s finance ministry said.
The agreement between the UAE and Russia also supports trade and economic ties by addressing outstanding investment disputes and providing for the confidential transfer of data, the ministry said without elaborating………………………………………..Full Article: Source

Posted on 09 December 2011 by VRS |  Email |Print

Qatar’s main government investment fund says that it is setting up a subsidiary in Indonesia targeting raw materials in the world’s largest Muslim nation. Qatar Holding said in a Thursday statement that the subsidiary, QH Indonesia, will initially have $1 billion to invest.
It says the Jakarta-based division will mainly focus on investments in Indonesian commodities and natural resources, but will also consider other sectors………………………………………..Full Article: Source

Posted on 09 December 2011 by VRS |  Email |Print

Qatar’s sovereign wealth fund said yesterday it had established a $1bn subsidiary in Indonesia to invest mainly in the country’s commodities and natural resources sector as part of a strategy to broaden its global investment portfolio.
Based in Jakarta, QH Indonesia, a unit of Qatar Holding, the investment arm of the state’s sovereign wealth fund, will “identify and evaluate investment opportunities in Indonesia,” it said in a statement………………………………………..Full Article: Source

Posted on 09 December 2011 by VRS |  Email |Print

The Sovereign Wealth Fund (SWF) will have an independent SWF Board that will comprise of seven members, all independent except for one, an ex-officio member — the Secretary for the Department of Treasury.
Anthony Yauieb said the SWF is owned by the independent state of Papua New Guinea for the benefit of the people of PNG. “The PNG SWF will have a single governance framework for the Government to manage a Stabilisation Fund and a Development Fund,” Mr Yauieb said………………………………………..Full Article: Source

Posted on 09 December 2011 by VRS |  Email |Print

The Sovereign Wealth Fund (SWF) will be onshore managed, offshore invested and onshore spent. Department of Treasury Deputy Secretary, Economic and Financial Policy, Andrew Yauieb said yesterday at the 2012 National Budget Press lock up that the SWF will be fully integrated in budget and fiscal framework and in line with international best practice; there will be governance, transparency, disclosure, accountability and asset management rules.
Mr Yauieb said within the SWF Integrated Governance, on-shore managed, it has the Stabilisation Fund and the Development Fund………………………………………..Full Article: Source

Posted on 09 December 2011 by VRS |  Email |Print

According to the Minister of Finance and Coordinator of the Nigerian Economy, “saving for the future, investment in strategic infrastructure and building a buffer against shocks such as the current global financial crisis which have damaged many economies across the world” are the core objectives.
In short, the fund would be utilized in generating wealth. It was further pointed out that some countries like Saudi Arabia, Kuwait, US, Russia, Brazil, Australia, Libya and a lot more that have set up similar funds some years back are reaping their investments bountifully now………………………………………..Full Article: Source

Posted on 09 December 2011 by VRS |  Email |Print

Singapore’s Temasek Holdings on December 8 raised SGD500 million (USD388 million) from the sale of two-year zero coupon bonds that are exchangeable into shares of Hong Kong-listed supply chain manager Li and Fung.
This is the second exchangeable bonds that Temasek has priced in the past two months. In mid-October, the investment firm of the Singapore government raised SGD800 million through bonds that are exchangeable into Standard Chartered Bank shares………………………………………..Full Article: Source

Posted on 09 December 2011 by VRS |  Email |Print

Triple A rated Singapore state-owned investment holding company Temasek Holdings raised S$500m (US$388m) from an issue of two-year zero-coupon EBs exchangeable into shares of Hong Kong-listed consumer product sourcing company Li & Fung.
The conversion price was set at HK$23.80, a 40.165% premium to the December 7 closing, and in the middle of the 37%–43% premium guidance. The EBs were issued at par without an investor put option. Credit Suisse was sole bookrunner. There is a S$100m greenshoe that can be used within 30 days of the settlement date………………………………………..Full Article: Source

Posted on 09 December 2011 by VRS |  Email |Print

The Norwegian government is ignoring a recommendation from a state ethics council that it ban investments by Norway’s oil fund in the Chinese oil company PetroChina. Meanwhile, a Chinese shipbuilding company is making inroads on Norway’s west coast.
The ethics council, which reviews investments made by Norway’s huge sovereign wealth fund, had recommended that PetroChina be blacklisted because of an “unacceptable risk” that the company was contributing to ongoing and future human rights violations. The violations were tied to construction of oil and gas pipelines in Burma………………………………………..Full Article: Source

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