Archive | March, 2009

Russia Central Bank: no early decisions on reserve currency

Reuters reports that, “The Russian central bank does not expect any decisions on a new global currency any time soon with the dollar remaining the main reserve unit, First Deputy Chairman of the central bank Alexei Ulyukayev said on Friday. Reserve holders China and Russia sparked a heated debate ahead of the G20 summit in […]

Dubai World Welcomes MGM’s $200M CityCenter Project Payment

Dubai World Sunday welcomed a last-minute $200 million payment by MGM Mirage (MGM) for the CityCenter project in Las Vegas as a “sign of good faith”, but warned it was a temporary solution to the liquidity problems the casino operator is facing. MGM Mirage made a $200 million payment due Friday to its City Center […]

Norway – Government Pension Fund – Global – Annual Report 2008 – Notes

Norway – Government Pension Fund – Global is one of the most transparent sovereign wealth funds in the world. The sovereign wealth fund is a shareholder in more then 7,900 firms that span the globe. They are trying to expose themselves toward emerging markets. The fund’s ownership of global equity markets rose to 0.77%. Inflows […]

Temasek offers hedge funds hope

Telegraph states, “Shirin Ismail, head of absolute returns investment strategies at Temasek’s standalone unit Fullerton Fund Management, told the Reuters Private Equity and Hedge Funds Summit in Singapore: ‘This is an area we will add on because this is where we think it will give us that level of capital preservation that we need.’ Hedge […]

Brunei Investment Agency Invests in Australian Securities Firm

Amin Abdullah, the managing director of the Brunei Investment Agency (BIA) mentioned that they paid AUD$ 12.1 million for a 19% stake in Patersons Securities last month. The stake was purchased through their sovereign wealth enterprise Nudhar Corporation. Patersons Securities is a stock brokerage based in Perth, Australia that focuses on mining industries.

Governor Zhou Xiaochuan of the People’s Bank of China (PBC) writes “Reform the International Monetary System”

Zhou Xiaochuan writes, “the outbreak of the current crisis and its spillover in the world have confronted us with a long-existing but still unanswered question,i.e., what kind of international reserve currency do we need to secure global financial stability and facilitate world economic growth, which was one of the purposes for establishing the IMF? There […]

Saudi Arabia Sets Up New Investment Arm to Invest In Foreign Stocks

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Korea Investment Corporation Hires Tudor Investment Veteran

The Korea Investment Corporation (KIC), the US$ 24.8 billion Korea sovereign wealth fund, has hired Scott Kalb to be their Chief Investment Officer. Scott Kalb is a Tudor Investment Corporation veteran. Kalb has worked at other asset management firms as well, replacing former Chief Investment Officer Guan Ong. Guan Ong plans to start his own […]

China’s Leader Says He Is Worried Over U.S. Treasuries

The NY Times reports that ,”the Chinese premier Wen Jiabao expressed concern on Friday about the safety of China’s $1 trillion investment in American government debt, the world’s largest such holding, and urged the Obama administration to provide assurances that its investment would keep its value in the face of a global financial crisis. The […]

Qatar sovereign wealth fund won’t invest for a time being

The Guardian reports that, “Qatar’s sovereign wealth fund, one of the world’s largest investors, has put buying on hold for the next six months and will then focus more on energy and commodities in a major strategic overhaul. ‘For the next six months we will do nothing,’ said Hussein al-Abdullah, executive director of the Qatar […]

China’s sovereign wealth fund sees “good opportunity” for international investment

“It’s now a “good opportunity” for the China Investment Corp. (CIC), China’s sovereign wealth fund, to make international investment, said a top CIC official here Wednesday. ‘To some extent, the current international situation gives the CIC a good opportunity,’ said CIC deputy general manager Wang Jianxi, who is also a member of the National Committee […]

MOU Signed Between SCIC and Kuwait Investment Authority

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Qatar eyes liquidity boost in banks’ support move

Reuters reports that, “Qatar has asked its sovereign wealth fund to buy local banks’ investment portfolios to boost liquidity and encourage lending, a finance ministry official said on Tuesday. The Gulf Arab oil and gas exporter said on Monday it will buy the portfolios without saying how much it had allocated to carry out the […]

Sovereign Wealth Funds look at clean tech venture capital investments

According to Venture Beat, “Fisker Automotive, maker of a luxury plug-in hybrid vehicle called the Karma, has squeezed an additional $3 million out of its private investors, bringing its total capital raised to more than $100 million — a staggering feat considering the state of the credit market. The Irvine, Calif. company raked in $65 […]

Abu Dhabi reviewing its Citigroup investment: sources

Abu Dhabi is assessing its $7.5 billion investment in Citigroup as the bank’s problems deepen and consequences of a possible nationalization become clearer, according to sources close to the Abu Dhabi Investment Authority (ADIA). ADIA invested $7.5 billon last year in Citi through convertible bonds that pay 11 percent in interest, but it must start […]