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Iranian President Hassan Rouhani Requests Military and Pensions to Divest from Key Industries

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Earlier in February, Iranian President Hassan Rouhani issued orders to have the country’s armed services to divest from Iran’s energy assets and other business units. This order places stress between President Rouhani and the Islamic Revolutionary Guard Corps (IRGC), which owns and is invested in numerous industries across Iran. The IRGC is under U.S. sanctions.

President Rouhani also requested the state pensions within Iran to divest as well. Furthermore, Iran’s pensions and savings funds have excessive exposure to domestic assets, causing further strain with the country’s pension liabilities. In fact, the Iranian government is on the hook for more than US$ 35 billion to the country’s biggest pension fund, the Civil Servants Pension Organization (Iran). Massive unemployment, growth of toxic assets in Iranian banks and rampant inflation, plague Iran’s economy.

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Emirates NBD Acquires Turkey’s Denizbank in $3.2 Billion Deal with Sberbank

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In a bid to establish itself as one of the region’s leading providers of financial services, Emirates NBD – Dubai’s largest bank – has entered into a deal to acquire a 99.99% stake in Turkey’s DenizBank A.Ş. for a bargain price of US$ 3.2 billion from Russian state-owned lender Sberbank. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Brazilian President Michel Temer Orders Liquidation of Sovereign Wealth Fund

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Brazilian President Michel Temer signed an executive order to shut down the country’s sovereign wealth fund. The money in the sovereign fund will go toward repayment of foreign debt.

The Sovereign Fund of Brazil, also known as Fundo Soberano do Brasil, was formed in 2008.

The formation of the Fundo Soberano do Brasil was authorized by then Brazilian President Luiz Inacio Lula da Silva.

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CDPQ Boosts Stake in Invenergy Renewables

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Caisse de dépôt et placement du Québec (CDPQ) boosted its ownership stake in Chicago-based Invenergy Renewables LLC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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