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Friday SWFI News Roundup, March 11, 2016

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IEA Believes Global Oil Price May Have Bottomed Out

This is positive news for Gulf-based sovereign wealth funds. Paris-based International Energy Agency (IEA) revealed that they believe oil prices may already gone through their lowest point. They see a decrease in oil supply in ex-OPEC countries, while witnessing disruptions within OPEC affecting the global surplus. The press release states, “global oil supplies eased by 180,000 barrels per day in February, to 96.5 million barrels per day, on lower OPEC and non-OPEC output for March.”

State Street to Lose CFO

State Street Corporation announced that its Chief Financial Officer, Michael W. Bell will step down from his role within the next year. Bell will serve as CFO until the appointment of a successor.

Salam Air to be Backed by Domestic SWF

Oman’s first budget airline will use the name Salam Air. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Chinese SAFE Investment Company Sells Off Stake in Ropemaker Place

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Singapore-listed property company Ho Bee Land, acquired a prime office at 25 Ropemaker Place, EC2, located in the City of London, for £650 million. The property went up for sale in December 2017.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norway SWF Adds to Existing Investment in Central London

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On June 15, 2018, Norges Bank Real Estate Management, the manager of Norway Government Pension Fund Global, acquired 25 percent of a long leasehold interest in 30 Warwick Street in central London, in joint venture with The Crown Estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Crown Property Bureau Moves Assets to Thailand King Under 2017 Law

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In December 2016, Crown Prince Maha Vajiralongkorn became King of Thailand, succeeding his father King Bhumibol Adulyadej who passed away in October 2016. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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