Connect with us

According to the IMF: Mideast oil exporters’ foreign reserves to rise

Published

on

According to the AP, “Oil exporters in the Middle East and North Africa region are expected to increase their international reserves by over 100 billion dollars in 2010 as oil prices rebound, the IMF said on Sunday. The rebuilding of reserves will help governments of the region maintain public spending, which has mitigated the impact of the global financial turmoil on their economies, the International Monetary Fund said in report released in Dubai.

‘With higher oil prices and the anticipated re-emergence of global demand, oil revenues are expected to increase, allowing oil exporters to rebuild their international reserve positions by over 100 billion dollars in 2010,’ the Middle East and Central Asia Regional Economic Outlook said.

Oil exporters — Algeria, Bahrain, Iran, Iraq, Kuwait, Libya, Oman, Qatar, Saudi Arabia, Sudan, United Arab Emirates and Yemen — have suffered as oil prices dropped to near 30 dollars per barrel around the turn of the year from an all-time high of 147 dollars per barrel in July 2008.

As a result, the current account surplus of these countries dropped by nearly 350 billion dollars. Since then, the price of oil has rebounded to around 70 dollars per barrel.

‘The use of reserve buffers for countercyclical spending by oil exporters mitigated the impact on their own economies and generated positive spillovers for their neighbours,’ IMF Middle East and Central Asia department director Masood Ahmed said in a press release.”

read more: AP

Blackstone Defeated on Investa Office Fund Bid

Published

on

The Blackstone Group threw in the towel on a bid to take over the Investa Office Fund, a vehicle that owns prized Australian office properties. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Temasek’s Bond Expected to Lure Retail Investors

Published

on

Singapore’s Temasek Holdings, through its subsidiary Temasek Financial (IV) Private Limited, is planning a 5-year bond that aims to yield 2.7% for retail investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

QIA Becomes the Largest Shareholder in Colonial

Published

on

The Qatar Investment Authority (QIA) became the biggest shareholder of Inmobiliaria Colonial, SOCIMI, S.A. (Colonial), a Spanish listed real estate company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.