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Governance and Santiago Principles Take Center Stage in Doha

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Doha, Qatar’s capital city ripe with petrol wealth and ambitions of diversification whether it be tourism, housing, entertainment, insurance or retail, is home to a massive sovereign wealth fund called the Qatar Investment Authority (QIA). Under the previous and current Qatari emirs, gargantuan developments like The Pearl, Katara and infrastructure related to the upcoming 2022 FIFA World Cup, has enhanced Qatar’s image to international businesses.

In November, Doha hosted the IFSWF’s sixth conference. The IFSWF focuses on the Santiago Principles, a set of guidelines drafted by sovereign funds and the International Monetary Fund (IMF), to address concerns that sovereign funds are not influenced by politics, but rather have a commercial basis when it comes to investing. SWFI’s President Michael Maduell attended the event. On November 20, members of the IFSWF signed “The Doha Agreement,” to form the IFSWF as an independent entity from the IMF. In addition, the IFSWF has determined that central banks will not become IFSWF members.

Qatar PM Sheikh Abdullah bin Nasser bin Khalifa Al Thani, Speaking at IFSWF Doha Conference - November 20, 2014

Qatar PM Sheikh Abdullah bin Nasser bin Khalifa Al Thani, Speaking at IFSWF Doha Conference – November 20, 2014

Qatar’s Prime Minister Sheikh Abdullah bin Nasser bin Khalifa Al Thani gave a speech, talking about developments in Qatar. The Qatar Investment Authority’s CEO Ahmad Al-Sayed, who ranked #25 on the Public Investor 100 for 2014, said the QIA’s investment policies will not be altered by the recent decline in global oil prices. In addition, Al-Sayed said the QIA has long-term plans to invest US$ 15 to US$ 20 billion in Asia over the next few years.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

China Helps Pakistan’s Foreign Reserves

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Despite Pakistan witnessing an increase in exports, the rapid increase in crude prices and lackluster financial inflows, have affected the country’s balance of payments position. Trying to avoid a full-scale currency crisis, Pakistan is also dealing with a fiscal budget deficit and a current account deficit. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Russia-Japan Investment Fund to Back Wood Pellet Production in Russia

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The Russian Far East has a lot of timber, and for that wood pellets is a source of biofuel. A while back, the Russian Direct Investment Fund (RDIF) formed the Russia-Japan Investment Fund (RJIF) with the Japan Bank for International Cooperation (JBIC). RDIF and JBICIG Partners as part of RJIF, together with RFP Group and Japan’s Prospect Co., Ltd. have agreed to collaborate and consider potential investments in Russia’s biofuel industry. JBICIG Partners is a subsidiary of the Japan Bank for International Cooperation.

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RDIF Lures Asian Investors Toward Russian Surgical Robot Project

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The Russian Direct Investment Fund (RDIF) is partnering with a number of unnamed Asian co-investors to allocate capital toward a project to create and manufacture Russian surgical robots. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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