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SWFI First Read, March 26, 2018

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SoftBank, Temasek and Morgan Stanley Eye FINO

Japan-based SoftBank Group, Temasek Holdings, and a private equity fund affiliated with Morgan Stanley are in talks on buying a stake in Financial Information & Network Operations (FINO). FINO is a payments bank and technology company. The proposed deal would be for the investor group to buyout the Blackstone Group’s 26% stake in FINO and acquire a 7% holding through a primary issue of new shares.

UAE Commercial Nuclear Plant to Begin Fuel Loading in May

Barakah Unit 1 will begin loading fuel in May 2018, according to the South Korea Energy Ministry. The Barakah complex is the first commercial nuclear reactor in the United Arab Emirates that was built with assistance from Korea Electric Power Corporation. The other partner in the project is the Emirates Nuclear Energy Corporation. In total, there will be four Barakah plants.

China Gets in the Oil Futures Game

On March 26, 2018, China launched its first yuan-denominated oil futures program. The buyers of the first contract with 15.4 million barrels of crude oil set for delivery in September were from Glencore, Trafigura, and Freepoint Commodities via the Shanghai International Energy Exchange. The exchange is offering yuan-denominated futures in oil that foreigners can buy and sell. New York has its West Texas Intermediate (WTI), while London has Brent crude as oil benchmarks.

Former FSDEA Chairman Gets in Trouble Over Irregular Transfer to UK Bank

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CalPERS CFO Out over Questions on Resume from Media

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Charles Asubonten has exited as Chief Financial Officer of the California Public Employees’ Retirement System (CalPERS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Crown Court Dismisses Charges on Barclays Qatar Loan Deal

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Barclays can breathe some fresh air for now over a high-profile corporate case. In February 2018, the U.K. Serious Fraud Office (SFO) had brought charges against Barclays and Barclays Bank in regard to the capital raising deals made in 2008. The bank could have lost its banking license, if found guilty of the charges. A number of bank executives were personally charged as well.

The Charges

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Mubadala Participates in PLT Platform Expansion

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The Russian Direct Investment Fund (RDIF) corralled a number of Middle Eastern funds, including the Mubadala Investment Company, to augment investment exposure to a logistics infrastructure investment platform called Professional Logistics Technologies (PLT). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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