Mon, May 23, 2022
A A A
Welcome mteam
RSS
Sovereign Wealth Funds Briefing 11.Jun 2012

Posted on 11 June 2012 by VRS |  Email |Print

During the global financial crisis, governments and markets turned with hope and trepidation to the hidden giants of international finance. They were discreet, they were powerful, and they had the financial muscle to pull banks – even governments – out of the fire. Here were the weapons of financial mass salvation.
The secret giants were sovereign wealth funds (SWFs). Ranging from the giant Abu Dhabi Investment Corporation with $627 billion (£406bn) through China’s $568bn of squirrelled assets to Norway’s $50bn oil fund, they have eluded precise definition – in structure, function, governance and size………………………………………..Full Article: Source

Posted on 11 June 2012 by VRS |  Email |Print

Zhu Guangyao Chinese vice finance minister Zhu Guangyao said that he hoped the weekend’s decision by euro zone finance ministers to lend Spain up to 100 billion euros ($125 billion) to shore up its teetering banks would help contain Europe’s debt crisis.
China’s $410 billion sovereign wealth fund, China Investment Corp, has cut its stock and bond investments in Europe as it sees rising risks of a euro zone breakup, the fund’s chairman told the Wall Street Journal last week………………………………………..Full Article: Source

Posted on 11 June 2012 by VRS |  Email |Print

PSA International Pte Ltd, the world’s second biggest container port operator, has won approval from the shipping ministry to sell up to 26% stake in a container terminal it runs at Chennai port to its local partner ABG Ports Pvt. Ltd.
PSA International, fully owned by Temasek Holdings Pte Ltd, the sovereign wealth fund of Singapore, had sought state-owned Chennai port’s permission to induct ABG into Chennai International Terminals Pvt. Ltd as a consortium member, one of the people, who is an official at the port, said on condition of anonymity………………………………………..Full Article: Source

Posted on 11 June 2012 by VRS |  Email |Print

Malaysia’s state-backed Integrated Healthcare Holdings (IHH), which operates hospitals in Asia, is trying to rope in Kuwait’s sovereign wealth fund as a cornerstone investor in its $2 billion dual listing in Kuala Lumpur and Singapore, sources said.
The Middle Eastern investor will be part of more than 10 cornerstones that IHH hopes to finalise by next week who will take up over 40 percent of the $2 billion offering, sources with direct knowledge of the deal told Reuters on Wednesday………………………………………..Full Article: Source

Posted on 11 June 2012 by VRS |  Email |Print

Mongolia plans to set up a new sovereign wealth fund with $600 million after the country’s June elections, Vice Minister of Finance Ganhuyag Chuluun Hutagt said at a conference in London.
The country also plans to raise the size of its existing stabilization fund to $500 million from $200 million by the end of the year, he told reporters at the Mongolia Capital Markets Day conference at the London Stock Exchange………………………………………..Full Article: Source

Posted on 11 June 2012 by VRS |  Email |Print

In line with its plans to launch the Sovereign Wealth Fund (SWF) in the second quarter, the Federal Government will announce its management team next week. The Coordinating Minister of the Economy and Finance Minister, Dr. Ngozi Okonjo-Iweala, revealed this to THISDAY in Arusha, Tanzania, during the annual meetings of the African Development Bank (AfDB).
Asked to disclose identities of the team members, Okonjo-Iweala said: “You know the selection process was very competitive but I cannot divulge the names of the management team. It will not be nice for me to do that before the names are officially announced.”……………………………………….Full Article: Source

Posted on 11 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. In the final instalment of a three-part series on the newest SWFs and the challenges their countries face in setting up and running them, Financial News looks at Ghana, Peru and Iran.
Ghana officially tapped into its newly discovered “Jubilee Oil Field” in 2010 and created two funds last year to capture excess petroleum revenue………………………………………..Full Article: Source

See more articles in the archive

banner
banner
May 2022
M T W T F S S
« Nov    
 1
2345678
9101112131415
16171819202122
23242526272829
3031