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Egypt’s Foreign Reserves Grow by $705 Million in August

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The Central Bank of Egypt reported that foreign reserves grew by US$ 705 million in August 2012. This is resuming a rise after falling the month preceding. Egypt’s net international reserves stood at US$ 15.13 billion at the end of August 2012. During the Egyptian overthrow of President Hosni Mubarak, reserves dropped more than 50%.

In late August 2012, the central bank sold 513 million euros worth of euro-denominated T-bills. Foreign investors constituted around 20% of the inaugural euro T-bill auction.

In mid-August 2012, after a meeting between Egyptian President Mohamed Morsi and Qatar’s emir, Sheikh Hamad bin Khalifa Al Thani, Qatar plans to deposit US$ 2 billion at the Central Bank of Egypt. This is a signal showing support from Qatar. The country of Egypt is still in a relatively fragile political state coupled with a growing balance of payments predicament.

Mauritius Aims to Sell Citizenship and Passports to Bolster National Wealth Fund

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The island country of Mauritius plans to offer foreigners a chance to obtain country citizenship in exchange for a non-refundable contribution of US$ 1 million to the national sovereign wealth fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CapitaLand Aims to be a Real Estate Funding Machine

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CapitaLand Investment Management, a real estate investment management arm of Singapore-based CapitaLand, hired Caleb Shen as managing director for fund management. CapitaLand is keen on growing its real estate fund management business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Treasurer Perrottet Reveals the NSW Generations Fund

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New South Wales wants its own Future Fund.

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