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Sovereign Wealth Funds Briefing 04.Nov 2016

Posted on 04 November 2016 by VRS |  Email |Print

Abu Dhabi state investment vehicle Mubadala Development Co is considering the sale of a least part of its stake in Dubai’s National Central Cooling Co (Tabreed), three sources familiar with the matter told Reuters.
Tabreed’s largest shareholder since it was part of a rescue effort following an economic slowdown in Dubai at the turn of the decade, Mubadala has been considering whether to offload part of its holding or, should a suitable investor show interest, its entire stake, one of the sources said………………………………………Full Article: Source

Posted on 04 November 2016 by VRS |  Email |Print

Libya is a nation plagued by internal conflict, as the recent attempted coup illustrated only too well. Many of the rifts that exist between the competing factions are deep and intractable. Others, however, are relatively simple to resolve, and the rewards for their resolution would be huge.
The protracted power struggle at the Libyan Investment Authority (LIA) is one of the latter cases. The longstanding conflict between the LIA in Tripoli and the LIA in Tobruk was, only weeks ago, so close to an end. Since the departure of that long-standing irritant and impediment to progress, Hassan Bouhadi, as head of the Tobruk LIA, relations between the two sides have thawed………………………………………Full Article: Source

Posted on 04 November 2016 by VRS |  Email |Print

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has ranked fourth among 60 sovereign wealth funds with overall score of 92 out of 100 in the 4th edition of the Sovereign Wealth Fund Transparency and Accountability scoreboard published in October 2016.
Following the sovereign wealth funds made it to the top five in the Scoreboard: Norway Government Pension Fund (1st place), New Zealand Superannuation Fund (2nd place), Permanent Wyoming Mineral Trust Fund, United States (3rd place), SOFAZ (4th place) and Alberta Heritage Savings Trust Fund, Canada (5th place)………………………………………Full Article: Source

Posted on 04 November 2016 by VRS |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) has got in world’s Top 5 on ranking Sovereign Wealth Fund Transparency & Accountability, made by PIIE (Peterson Institute for International Economics). SOFAZ reports that the PIIE survey covered 60 sovereign wealth funds with scale from zero to 100.
Following sovereign wealth funds made it to the top five in the Scoreboard: Norway Government Pension Fund (1st place with score of 98), New Zealand Superannuation Fund (2nd place; 94), Permanent Wyoming Mineral Trust Fund, United States (3rd place; 93), SOFAZ (4th place; 92) and Alberta Heritage Savings Trust Fund, Canada (5th place; 91)………………………………………Full Article: Source

Posted on 04 November 2016 by VRS |  Email |Print

Two senior private bankers of Swiss bank BSI Bank Ltd in Singapore were slapped with a total of 14 charges on Oct 10, 2016, for allegedly being involved in illegal transactions of large amounts of money that originated from 1Malaysia Development Bhd (1MDB).
They are Yak Yew Chee, 57, and Yvonne Seah Yew Foong, 45. Yak and Seah were identified as a managing director and director of BSI Singapore respectively. Aside from charging the two, the Singapore authorities also took several other actions last week………………………………………Full Article: Source

Posted on 04 November 2016 by VRS |  Email |Print

Former Prime Minister Tun Abdullah Ahmad Badawi believes Datuk Seri Najib Razak should get the chance to resolve the 1Malaysia Development Berhad (1MDB) controversy and restore stability in the country. In Abdullah’s authorised biography Being Abdullah Ahmad Badawi, author Datuk Wong Sulong said that Abdullah had publicly endorsed Najib by agreeing to launch a book commemorating the latter’s 40 years in politics in February this year.
“Against this swirling and dramatic political conundrum, Abdullah feels that Najib should be given an opportunity to clear up the 1MDB mess and to restore political and economic stability to the country,” Wong wrote………………………………………Full Article: Source

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