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Sovereign Wealth Funds Briefing 18.Nov 2016

Posted on 18 November 2016 by VRS |  Email |Print

Saudi Arabia’s Public Investment Fund (PIF), its main sovereign wealth fund, said on Thursday it had filled key posts as part of plans to expand investment capacity and help reduce the kingdom’s dependence on oil income.
Under economic reform plans announced early this year, the government has said it aims eventually to expand the PIF, founded in 1971 to finance development projects in the country, from $160 billion to about $2 trillion and increase investments abroad. The PIF did not name the people it had appointed, but LinkedIn profiles showed at least five financial professionals had begun working at the Fund in the last several weeks……………………………………..Full Article: Source

Posted on 18 November 2016 by VRS |  Email |Print

It is amazingly interesting where all the money goes when the US Government provides money to businesses, bailouts, spends money in Research and Development, or provides stimulus funding.
Sometimes if you follow the flow of that money you have to ask yourself who on earth are we stimulating, and rather than making a really bad joke about the human scrotum here, let’s just say, our stimulus promises to the American people leave a lot to be desired. The Tesla American electric car company has been given a tremendous amount of money to help fund its startup……………………………………..Full Article: Source

Posted on 18 November 2016 by VRS |  Email |Print

Qatari Diar’s plans to convert the US Embassy in London into a luxury hotel have received government approval this week, the project’s architect said.
The London Chancery for the US Embassy at 30 Grosvenor Square, Mayfair, will undergo a “sensitive and adaptive re-use” to become a 137-bedroom hotel with shops, restaurants, bars and a spa. It will be extended to span nine stories, three of which will be underground……………………………………..Full Article: Source

Posted on 18 November 2016 by VRS |  Email |Print

The Queensmere Observatory Shopping Centre in Slough has been acquired for a reported £130m by the Abu Dhabi Investment Authority (ADIA). The centre, which was sold by Criterion Capital, currently comprises almost 600,000 sq ft of retail space and is anchored by M&S, TK Maxx, Debenhams and Primark.
In addition to the two adjacent shopping centres, the acquisition also includes Wellington House, a 57,400 sq ft office building……………………………………..Full Article: Source

Posted on 18 November 2016 by VRS |  Email |Print

The World Bank Group and Ithmar Capital, a Moroccan Sovereign Investment Fund, signed on Wednesday in Marrakech a memorandum of understanding relating to the establishment of a Green Growth Infrastructure Facility for Africa (GGIF Africa), the first pan-African fund dedicated to green investment in the continent.
GGIF will be structured as private capital fund and its objective is to attract private investors with interest in Morocco or Africa who are looking for responsible and green investment opportunities……………………………………..Full Article: Source

Posted on 18 November 2016 by VRS |  Email |Print

The Government of Singapore Investment Corporation (GIC) and the National Pension Service (NPS) have bought equity stakes in a fund launched to buy a landmark shopping complex near Seoul for $136 million each, extending their real estate portfolios into retail properties out of the South Korean capital.
Their investment in G-Square in Anyang, about 20 km south of Seoul, comes as the satellite cities of Seoul have been seeing steady inflows of population from the capital due to soaring housing prices. Vacancy rates in office buildings in downtown Seoul have climbed amid the prolonged economic slowdown……………………………………..Full Article: Source

Posted on 18 November 2016 by VRS |  Email |Print

Norway should limit what it spends from its $860 billion wealth fund to avoid creating economic imbalances, the International Monetary Fund said on Thursday, after the fund grew faster than the economy in the last 20 years.
Under the fiscal spending rule, governments can spend in their budgets an average 4 percent of the wealth fund per year - the estimated long-term return of the fund. The sovereign wealth fund, the world’s largest, invests the Norwegian state’s revenues from offshore oil and gas production It invests up to 60 percent in equities, 35 percent in fixed income and 5 percent in real estate. It cannot invest in Norway……………………………………Full Article: Source

Posted on 18 November 2016 by VRS |  Email |Print

Norway was at this very moment planning to withdraw a worth of over and around NOK 121 billion in which is nearly closed to $15 billion US Dollars right from its sovereign wealth fund in order to cover its losses right from the oil revenue.
With this certain idea that the Norway’s sovereign wealth fund could be put out in the cryptocurrency right in its portfolio in which now sounds untamed, but in the reality it could really somehow happen and it is approaching real soon! The country is the largest oil exporter in the entire Western Europe and with the crude oil prices are excessively going down and under, it has a hurtful effect onto the Norwegian economy and if the oil prices do not expand and increase it might bring some sort of a challenge in its economical status and situation……………………………………..Full Article: Source

Posted on 18 November 2016 by VRS |  Email |Print

The Central Bank and the State Oil Fund of Azerbaijan (SOFAZ) have taken part today in a regular bipartite foreign exchange auction, and the national currency has fallen the next time running.
According to the CBA, on 17 November the foreign currency auction began from manat rate of AZN 1.7039 to the US dollar. Following the auction the rate of the American currency soared up to AZN 1.7089 to the US dollar. This price has become the highest value of the American currency during the whole period of existence of the Azerbaijan Republic……………………………………..Full Article: Source

Posted on 18 November 2016 by VRS |  Email |Print

Private equity firms are charging far too much in fees and are not investing enough of their own money in the deals they do, according to a former head of private investments at one of the world’s largest sovereign wealth funds.
Georges Sudarskis, formerly chief of the private investment programme at the Abu Dhabi Investment Authority, said that the current private equity fund model is a “rigged arrangement”. Sudarskis, who led Adia’s private investment programme between 1998 and 2009, said that fund managers’ and investors’ interests are no longer aligned……………………………………..Full Article: Source

Posted on 18 November 2016 by VRS |  Email |Print

A state senator who challenged Gov. Bill Walker’s cut to the Alaska Permanent Fund dividend this year plans to appeal a judge’s decision that found that Walker acted within his authority. Sen. Bill Wielechowski of Anchorage said it was always expected that the case would be decided by the Alaska Supreme Court.
Wielechowski and two former legislators brought the case, arguing the Alaska Permanent Fund Corp. was obligated by law to make available nearly $1.4 billion from the fund’s earnings reserve for dividends, in spite of a Walker veto reducing that amount…………………………………….Full Article: Source

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