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REVEALED: Trump Says Kuwait Sovereign Fund Not Keen on U.S. Deals After War

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Photo Credit: NBC News - Meet the Press, Interview between Chuck Todd and Donald Trump

Photo Credit: NBC News – Meet the Press, Interview between Chuck Todd and Donald Trump

U.S. Republican Primary Presidential Candidate Donald Trump was interviewed by NBC News Host Chuck Todd on August 16th on the show, Meet the Press. Trump is leading the Republican U.S. Presidential Primary in a number of polls in the early primary states of Iowa and New Hampshire. Among a myriad of topics and issues, Trump discussed his interactions with Gulf countries, notably Kuwait. These statements were echoed earlier on a Fox News show where Trump was interviewed by Sean Hannity.

NBC News Interview: Here

Trump: Shortly after the war [in reference to the first Gulf war], the Kuwaiti fund came to see me, and they wanted to do a deal.
We have a great deal in the United States.
They go no, no, no, not, not, United States, not United States.
We don’t want to invest in the United States.
We gave them back their country.

In the early 1990s, many of the Gulf sovereign funds had a strong preference of direct investments in Europe, particularly the U.K. and France.

The KIA does have a scattered history of investing in U.S. real estate, especially hotels and property. In fact, SWFI is hosting their next America summit at The Phoenician, in Scottsdale Arizona in February 2016. The resort hotel, at one point in the early 1990s, was owned by the Kuwait Investment Office (KIO), a sovereign wealth enterprise of the Kuwait Investment Authority. For a long time, the KIO had a 45% stake in The Phoenician and Crescent Hotel in Arizona, buying the rest from the Resolution Trust Corporation (RTC) in 1991.

Oman SGRF Contemplates $1 Billion Infrastructure Fund

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Oman’s State General Reserve Fund (SGRF) is in discussions on forming a US$ 1 billion infrastructure fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norway’s GPFG Banned from Investing in 9 Companies Over Nuclear Weapons

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The recent false alarm caused by a state employee in Hawaii (who was not terminated and reassigned to a new position), triggering the Emergency Alert System message at 8:07 a.m. caused pandemonium in the state. After decades of failure in diplomacy between the United States and North Korea, the threat of a nuclear missile attack has grown since. The states of Alaska and Hawaii are the closest states to North Korea.

Besides the recent news in the world of nuclear missiles, Norges Bank oversees the management of the country’s sovereign wealth fund. The central bank has moved to ban nine companies from the Government Pension Fund Global. In addition, one company has been placed under observation. The Executive Board of Norges Bank’s decisions on exclusion were made on the basis of recommendations from the Council on Ethics. However, before moving to exclude a company, the central bank may consider other options, such as the exercise of ownership rights. In these instances of companies, the board determined that it was appropriate to use other measures in these cases.

The Council on Ethics’ recommendations to exclude:
Risk of severe environmental damage and serious or systematic violations of human rights
Evergreen Marine Corporation (Taiwan) Ltd
Korea Line Corporation
Precious Shipping PCL
Thoresen Thai Agencies PCL

Unacceptable risk of serious or systematic violations of human rights
Atal SA

Over involvement in the production of nuclear weapons
AECOM
BAE Systems
Fluor Corporation
Huntington Ingalls Industries Inc
Honeywell International Inc (already previously excluded)

Placed Under Observation
Pan Ocean Co. Ltd

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Sistema to Pledge Assets to Help Fund Settlement

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The Russian Direct Investment Fund (RDIF) is helping a settlement situation between two Russian economic powerhouses. In January 2018, Sistema, under a settlement, is mandated to pay Bashneft oil company, which is owned by energy behemoth Rosneft, 100 billion roubles (US$ 1.8 billion) by March 30, 2018.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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