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Sovereign Wealth Funds Briefing 08.Jun 2012

Posted on 08 June 2012 by VRS |  Email |Print

Lou JiweiThe head of China’s giant sovereign wealth fund sees mounting risks of a breakup of the euro zone and says China Investment Corp. has scaled back its holdings of stocks and bonds across Europe.
The comments by CIC Chairman Lou Jiwei are among the most bearish pronouncements yet on Europe by a senior Chinese official. They reflect growing dismay in Beijing at how European leaders are handling the escalating crisis in China’s largest export market, and anxiety over the potential for global contagion………………………………………..Full Article: Source

Posted on 08 June 2012 by VRS |  Email |Print

China’s sovereign wealth fund, China Investment Corporation (CIC), has cut its European stock and bond investments on fears of a eurozone break-up.
CIC chairman Lou Jiwei said: “There is a risk that the eurozone may fall apart, and that risk is rising.” Lou also scotched speculation that the state-owned CIC might buy eurobonds if and when they are launched………………………………………..Full Article: Source

Posted on 08 June 2012 by VRS |  Email |Print

For three years, I’ve been calling for more investment in infrastructure globally, including in my last meeting with Larry Summers before he left the government. But according to our observation, global investment in infrastructure hasn’t increased, but decreased. That is because of political reasons.
As an economist, I think infrastructure investment in the short term can help drive the world economy out of the crisis, and in the long term, can help sustain economic growth. When I first visited the U.S. in the 1980s, I really envied the infrastructure in the U.S. but now when we look at it, it’s very old. It’s the same case in Europe………………………………………..Full Article: Source

Posted on 08 June 2012 by VRS |  Email |Print

Chinese outbound investment into Europe could exceed $250 billion in the eight years to 2020, with domestic sovereign funds and private equity firms increasing their proportion of capital flows into the recession-hit region.
China direct investment in Europe is expected to double to $20 billion this year, from $10 billion in 2011. It represents a leap from $3 billion invested in both 2009 and 2010, and $1 billion annually between 2004 and 2008, according to a study by US research firm Rhodium Group and Chinese bank CICC………………………………………..Full Article: Source

Posted on 08 June 2012 by VRS |  Email |Print

Alibaba Group Holding Ltd. founder Jack Ma Thursday said the company is open to selling a stake in the e-commerce provider to sovereign wealth funds in order to finance a buyback of its shares from Yahoo Inc., Bloomberg News reported on its website.
Alibaba, Mr. Ma said, is open to investments from firms such as China Investment Corp. and Temasek Holdings Pte., which already is an investor in Alibaba. Efforts by Bloomberg News to reach CIC for comment were unsuccessful. Temasek spokesman Stephen Forshaw declined to comment on hypothetical situations, Bloomberg reported………………………………………..Full Article: Source

Posted on 08 June 2012 by VRS |  Email |Print

Singapore investment company Temasek Holdings has appointed former minister Lim Boon Heng as a member of its board.
Mr Lim, 64, is currently deputy chairman of the Singapore Labour Foundation. He joined Temasek’s board this month, according to Temasek’s website, bringing the board’s size to nine members………………………………………..Full Article: Source

Posted on 08 June 2012 by VRS |  Email |Print

Malaysian sovereign fund Khazanah has joined hands with Baring Private Equity Asia to offer $800 million (more than Rs 4,400 crore) for Aegis, a business process outsourcing (BPO) firm fully owned by the Ruias of Essar. This joint bid is ahead of Kohlberg Kravis Roberts & Co (KKR), which is another contender in the fray to acquire Aegis.
Khazanah and Baring Asia may rope in another Malay investor into the consortium as they bid at a valuation that’s below the initial asking price topping $1 billion………………………………………..Full Article: Source

Posted on 08 June 2012 by VRS |  Email |Print

Qatar’s sovereign wealth fund Thursday lifted its stake in miner Xstrata PLC , which is merging with commodities trader Glencore, to over 10%, forging ahead with its recent spate of share-buying in European blue-chip companies.
Qatar Holding, the overseas investment arm of the country’s wealth fund, now owns more than 301 million shares in the diversified mining group including options, giving the Gulf state a 10.047% holding in the company, according to a regulatory filing………………………………………..Full Article: Source

Posted on 08 June 2012 by VRS |  Email |Print

A meeting of the Supervisory Board of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) was held on June 7, 2012, the fund said.
The meeting chaired by Artur Rasizade, Prime Minister of Azerbaijan and Chairman of the Supervisory Board discussed the Fund’s annual report and audited financial statements for the year of 2011, a report on execution of the 2011 budget, as well as the amendments to be made to the 2012 budget of the Fund………………………………………..Full Article: Source

Posted on 08 June 2012 by VRS |  Email |Print

Sovereign wealth funds have become an increasing force in the world of global investing – with the value of funds topping $5 trillion at the end of April.
A plan for the Savings Fund of Panama, a sovereign wealth fund that captures excess revenue from the 82km Panama Canal, has been approved by the state’s Cabinet Council and now sits with Congress………………………………………..Full Article: Source

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