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Sovereign Wealth Funds Briefing 01.Jun 2012

Posted on 01 June 2012 by VRS |  Email |Print

Frank De LimaLawmakers in Panama approved the government’s plan to create the country’s first sovereign wealth fund with revenue from an expanded Panama Canal to help buffer Latin America’s fastest-growing economy in a downturn.
Lawmakers voted 41-19 today to approve the creation of the fund, which would take effect after the canal’s $5.25 billion expansion is completed in 2014. With at least $300 million to start, the government estimates savings will grow by about $1.5 billion per year from taxes on the canal, Finance Minister Frank De Lima told lawmakers before voting took place………………………………………..Full Article: Source

Posted on 01 June 2012 by VRS |  Email |Print

Tom McKeonQatar’s sovereign wealth fund, with an estimated $100 billion in assets, expects to start exports of grains and wool from Australia as it nears completion of a A$500 million ($486 million) farm investment plan.
Hassad Food Co., the agricultural investment arm of the Qatar Investment Authority, is shifting its focus to commercial production from food security and is unlikely to buy new properties when it reaches its purchase goal within a year, said Tom McKeon, chief executive officer of Hassad Australia………………………………………..Full Article: Source

Posted on 01 June 2012 by VRS |  Email |Print

The House of Representatives, on Thursday, directed its joint committees on Finance, Commerce and Industry, as well as Banking and Currency, to conduct a public hearing on Sovereign Wealth Fund (SWF) management and report back to the House within four weeks.
This is coming just as the lawmakers rooted for the lodgement of the proceeds from the SWF into viable commercial banks operating in the country………………………………………..Full Article: Source

Posted on 01 June 2012 by VRS |  Email |Print

The House of Representatives has taken steps to keep the planned nation’s Sovereign Wealth Fund (SWF) with the Central Bank of Nigeria (CBN) and other investment and commercial banks. This is to discourage plans on the management of the fund with foreign banks.
The move was initiated following the debate on a motion by Aminu Suleiman, who said unless contributors to the Sovereign Wealth Fund (SWF) were compelled to keep their funds in local viable banks, other governments may deviate from the original aim of the sovereign investment fund………………………………………..Full Article: Source

Posted on 01 June 2012 by VRS |  Email |Print

Europe’s debt crisis may be unnerving the markets but Temasek Holdings sees an excellent opportunity to invest, cautiously, in good European companies.
Its head of strategy and co-head of portfolio management, Mr Chia Song Hwee, outlined the firm’s take on investments in an interview with The Straits Times………………………………………..Full Article: Source

Posted on 01 June 2012 by VRS |  Email |Print

China Investment Corp. lost two executives from its private-equity department, the latest in a string of resignations from the $400 billion sovereign wealth fund, said a person with direct knowledge of the situation.
James Ieong, a managing director at the Beijing-based fund, resigned last month, said the person, who asked not to be identified because the matter is private. Daniel Hu, a director at the same department, also left, the person said………………………………………..Full Article: Source

Posted on 01 June 2012 by VRS |  Email |Print

The China Investment Corporation (CIC), China’s sovereign wealth fund, will pursue opportunities to make direct investment in Russia, its chairman told a forum on investment projects between China and Russia on Thursday.
Lou Jiwei said that, apart from investment in the country’s financial sector, the CIC is also interested in infrastructure projects in Sino-Russian border regions, and mobilizing Chinese firms to export equipment, technologies, as well as services to their northeastern neighbor………………………………………..Full Article: Source

Posted on 01 June 2012 by VRS |  Email |Print

Malaysia’s state investor Khazanah Nasional Bhd plans to offer up to 1.8 billion new shares in the listing of its healthcare unit, according to a source with direct knowledge of the matter, in a move that could raise close to US$2 billion (RM6 billion).
The dual listing, slated to debut in Malaysian and Singapore bourses by the end of July, comes at a time when many initial public offerings (IPOs) are being postponed due to worries about a deteriorating global economy………………………………………..Full Article: Source

Posted on 01 June 2012 by VRS |  Email |Print

Australian industrial property company Goodman Group said on Thursday it was in talks to expand into the U.S. market, including a management business and a new fund to tap into logistics there, extending its global reach.
Australian industrial property company Goodman Group said on Thursday it was in talks to expand into the U.S. market, including a management business and a new fund to tap into logistics there, extending its global reach………………………………………..Full Article: Source

Posted on 01 June 2012 by VRS |  Email |Print

Once branded a fragile state, Asia’s youngest nation is enjoying rapid, inclusive and sustainable economic growth.
The nation is also saving for its future, putting aside revenue earned from offshore petroleum fields jointly managed with Australia, in a world-class sovereign wealth fund that now holds more than $10bn for future generations (the Petroleum Fund)……………………………………….Full Article: Source

Posted on 01 June 2012 by VRS |  Email |Print

Slovenia is planning to consolidate state-owned assets into a sovereign wealth fund. By merging the different agencies, Slovenia hopes to enhance revenue and improve organizational efficiency.
The five agencies manage assets of more than €10 billion. Over time, the Government of Slovenia will decide which assets to dispose of. The proposed sovereign fund’s profits will be used to finance pensions and the national budget………………………………………..Full Article: Source

Posted on 01 June 2012 by VRS |  Email |Print

The Norwegian government hopes to encourage pension funds to finance its oil and gas industry as banks fail to provide the necessary funding for expansion, its Guarantee Institute for Export Credits (GIEK) said.
The agency is targeting pension funds for investment in the offshore oil and gas export sector at a time that the euro zone debt crisis and tighter financial regulation mean that banks are not able to provide enough funding………………………………………..Full Article: Source

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