Fri, Jun 18, 2021
A A A
Welcome mteam
RSS
Sovereign Wealth Funds Briefing 18.Jul 2016

Posted on 18 July 2016 by VRS |  Email |Print

As Saudi Arabia and its oil-rich sovereign-wealth fund prepare to become bigger players in tech deal making, Silicon Valley insiders are weighing the consequences. Technology investors like to tout the social benefits of the companies they support. But the industry often overlooks investors’ own principles and beliefs, focusing more on their investment record and size of their checks.
To some venture capitalists and founders, Uber’s agreement with Saudi Arabia represented its tacit endorsement of that government. Saudi Arabia is the only country in the world where women aren’t allowed to drive, and one of several countries where homosexuality is illegal………………………………………..Full Article: Source

Posted on 18 July 2016 by VRS |  Email |Print

Qatar’s bonds are “likely to remain popular with investors” although sovereign creditworthiness in the Mena economies will broadly deteriorate over the coming quarters given rising interest rates, tightening liquidity and a slowdown in growth, a new report has shown.
Qatar, Kuwait and the UAE have been “proactive in carrying out fiscal reform”, and can rely on extensive sovereign wealth fund holdings, BMI Research said in a recent analysis on the Mena region’s sovereign debt. By contrast, BMI Research said, “The UAE and Qatar have been proactive in carrying out fiscal reform, and can rely on extensive sovereign wealth fund holdings (as can Kuwait). Their bonds are likely to remain popular with investors.”……………………………………….Full Article: Source

Posted on 18 July 2016 by VRS |  Email |Print

The recent acquisition of the 43-storey Asia Square Tower One by Qatar Investment Authority, a sovereign wealth fund, has provided the flagging Singapore real estate market with a much-needed shot in the arm.
Asia Square Tower One was sold by BlackRock, the world’s largest asset manager, for US$2.5 billion ($3.4 billion), a record for Singapore. According to reports, the effective selling price of $2,700 per square foot was lower than what BlackRock had initially hoped to get………………………………………..Full Article: Source

Posted on 18 July 2016 by VRS |  Email |Print

Mixed sentiments keep emerging about the commercial and business sector in Kuwait. On a positive note, the much-awaited expansion of the airport is underway. Conversely, in an unprecedented move, a key rating agency assigned a negative outlook for the economy due to the phenomenon of low oil prices for two years now.
An essential part of the comfortable rankings relates to Kuwait’s strong external assets. The SWFI puts the value of the country’s sovereign wealth fund as managed by Kuwait Investment Authority (KIA) at $592 billion. Kuwait set up KIA in the 1950s, the first SWF within the GCC………………………………………..Full Article: Source

Posted on 18 July 2016 by VRS |  Email |Print

Nine disputed trades that Libya’s sovereign wealth fund (SWF) entered into with Goldman Sachs were unsuitable by “dint of risk and complexity”, according to an expert witness at a trial in London’s High Court.
The Libyan Investment Authority (LIA) is attempting to claw back $1.2 billion from Goldman Sachs from the trades carried out in 2008. It argues the bank took advantage of its financial naivety by first gaining its trust, then encouraging it to make risky and ultimately worthless investments………………………………………..Full Article: Source

Posted on 18 July 2016 by VRS |  Email |Print

Oil tycoon Algy Cluff is calling on the Government to create a sovereign wealth fund to save the North Sea industry and invest in a gas supply for the country after Brexit. Cluff, who founded and runs Cluff Natural Resources, wants the Government to take charge and invest in the face of the weakened oil price.
He wants the Government-launched Oil and Gas Authority to be able to take equity stakes in companies that want to explore to fund them like an investment or sovereign wealth fund. Norway’s government created an investment fund to re-invest the money it raised from the North Sea oil boom………………………………………..Full Article: Source

Posted on 18 July 2016 by VRS |  Email |Print

Revenues of the State Oil Fund of Azerbaijan (SOFAZ) from the project for development of the Azeri-Chirag-Gunashli (ACG) block of fields totaled $119.314 billion from early 2001 to July 1, 2016, SOFAZ told Trend.
SOFAZ said its revenues from the project totaled $2.305 billion in H1 2016; out of this, $504 million accounted for June. A contract for development of ACG block of oil and gas fields was signed in 1994. The proven oil reserves of the block near one billion tons………………………………………..Full Article: Source

Posted on 18 July 2016 by VRS |  Email |Print

Singapore’s central bank is scrutinising several banks, including UBS and DBS Group Holdings, to see if they broke anti-money laundering rules in handling transactions linked to scandal-hit Malaysian state fund 1MDB, three people with knowledge of the matter said.
The Monetary Authority of Singapore (MAS) is looking at several aspects of the banks’ operations including whether they were diligent enough in knowing who their customers were and what the source of their funds was, and whether they were particularly careful in screening politically-exposed persons such as government officials, banking and legal sources aware of the review said……………………………………….Full Article: Source

Posted on 18 July 2016 by VRS |  Email |Print

Singapore’s state-owned investment firm Temasek Holdings is the lead investor in the latest round of financing by Edinburgh-based telecommunications company pureLiFi as it expands its technology holdings. The Series-B round brought pureLiFi’s total financing to more than US$10 million ($13.5 million), it said.
The funding will support the development of the firm’s technology that uses light-emitted diodes to provide wireless communication systems with the potential to be faster than current WiFi technology, according to the statement. Aedan Lai, a spokesman for Temasek, confirmed the investment and declined to comment further………………………………………..Full Article: Source

Posted on 18 July 2016 by VRS |  Email |Print

Singapore state investor Temasek Holdings’ Fullerton Financial Holdings has hired Yeo Hong Ping, JPMorgan & Co’s Singapore head of investment banking, as a senior member of its management team.
“We confirm that Yeo Hong Ping will be joining Fullerton Financial Holdings later this year. We are pleased to welcome him as a senior member of the management team,” Fullerton said in an email on Thursday. JPMorgan declined to comment. The hiring is another example of investment bankers moving to private equity firms and sovereign funds………………………………………..Full Article: Source

See more articles in the archive

banner
banner
banner
banner
June 2021
M T W T F S S
« Nov    
 123456
78910111213
14151617181920
21222324252627
282930