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CIC Backs Carnival Cruise Joint Venture

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Carnival Corporation & plc, a major cruise liner company, has formed a 25-year joint venture with Beijing-based China State Shipbuilding Corporation, one of the two biggest shipping conglomerates in China, and the China Investment Corporation (CIC). China State Shipbuilding Corporation is a state-owned enterprise directly supervised under State-owned Assets Supervision and Administration Commission (SASAC). The signing ceremony, at the Mansion House in London, was attended by Chinese President Xi Jinping and U.K. Prime Minister David Cameron.

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SA FinMin: PIC CEO Plans to Resign

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Dr Dan Matjila, the Chief Executive Officer of the Public Investment Corporation (PIC) of South Africa, plans to resign according to South Africa’s finance ministry, which oversees the organization. The finance ministry commented that PIC’s board was dealing with Matjila’s intentions. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Goldman Sachs Sued by Abu Dhabi SWF Unit

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International Petroleum Investment Company (IPIC), which is now wrapped up into Abu Dhabi-based Mubadala Investment Company, is suing Goldman Sachs over its role in the 1MBD international corruption scandal. IPIC, through its unit Aabar Investments, was once an investment partner of 1Malaysia Development Berhad (IMDB). In the lawsuit, Aabar believes Goldman Sachs conspired with others to bribe both IPIC and Aabar Investment former executives. SWFI and other media outlets have written extensively on the matter.

In the fall, the U.S. Department of Justice (DOJ) already unsealed criminal charges against key players in the massive fraudulent scheme, while Malaysian government officials have jailed its former prime minister Najib Razak.

Lloyd Blankfein, the recent former CEO of Goldman Sachs, attended a 2009 meeting with Malaysian financier Jho Low (name: Low Taek Jho). According to various media sources, Blankfein is the unidentified Goldman executive who attended the 2009 meeting in New York in the U.S. court documents.

Goldman Sachs faces a plethora of lawsuits and regulatory probes stemming from its involvement in the 1MDB scandal.

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EXPORT DREAMS: American Reliance on World Oil at an Inflection Point

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Remember the days of experts talking about peak oil. The peak oil concept is the point in which the global petroleum production rate starts its inevitable historic decline. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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