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Sovereign Wealth Funds Briefing 06.Aug 2012

Posted on 06 August 2012 by VRS |  Email |Print

Jakaya KikweteTanzania plans to establish a sovereign wealth fund to invest future energy windfalls. The east African country is benefiting from a steady increase in its natural gas reserves and the government is studying states with significant hydrocarbon revenues. It is focusing on those that - like Abu Dhabi - have established sovereign wealth funds, said Jakaya Kikwete, Tanzania’s president.
“We want to learn from them by setting up our own fund to ensure we similarly benefit,” he said in a televised address………………………………………..Full Article: Source

Posted on 06 August 2012 by VRS |  Email |Print

The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC), has appealed to the federal and state governments to embrace dialogue in resolving the dispute over the implementation of the Sovereign Wealth Fund (SWF).
Ibrahim Mohammed, Head, Press and Public Relations of RMAFC, said in a statement, that the Chairman of the commission, Mr. Elias Mbam made the appeal in Abuja on Sunday, stating that the SWF is a crisis fund set aside by governments to provide palliatives in times of national and global crises like natural disaster, global economic meltdown and oil price fluctuation which could adversely affect national economies and retard development………………………………………..Full Article: Source

Posted on 06 August 2012 by VRS |  Email |Print

Leading property investors from the Gulf region have set their sights on Turkey where one of the region’s fastest growing real estate markets is being built by a prosperous national economy.
In a study released this week, global real estate specialists Jones Lang LaSalle said sovereign wealth funds, investment funds and private equity funds from the Gulf region are among those redirecting their growth plans towards Turkey in the wake of worsening economic instability in Western Europe………………………………………..Full Article: Source

Posted on 06 August 2012 by VRS |  Email |Print

A Middle East investor has purchased the luxury London-based handbag company, Anya Hindmarch. The Daily Telegraph did not give an exact figure for the private deal, but estimated its worth between 20 to 40 million pounds sterling ($31 million to $47 million).
A majority of shares in the handbag company’s holding vehicle, ASHS, have been sold to a third-party investor, believed to be linked to one of Qatar’s sovereign wealth funds, the paper said………………………………………..Full Article: Source

Posted on 06 August 2012 by VRS |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) allocated about 3.34 billion manat for the implementation of various infrastructure projects and other needs as of July 1, the official website of the State Oil Fund said.
A significant amount of funds directed at improving the welfare of refugees and internally displaced persons, as well as addressing their employment. The State Oil Fund has allocated 1.020.2 billion for these purposes. Some 779.6 million manat were directed to lay the water pipeline from Oguz-Gabala zone to Baku, 762.5 million manat - the reconstruction of the Samur-Absheron canal………………………………………..Full Article: Source

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