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UK Mandelson encourages sovereign wealth fund investment

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Peter MandelsonReuters reports, “Britain would welcome investments by sovereign wealth funds to bolster its economy, Business Secretary Peter Mandelson said on Wednesday. Gulf-based investment firms have poured billions of dollars in recent years into businesses ranging from Western banks and stock exchanges to sports clubs and circus troupes. Britain’s economy will shrink by 3.7 percent this year, its fastest pace of decline since World War Two, and the government has little room for more fiscal support, the Organisation for Economic Cooperation and Development said last week.

‘Yes, I have met sovereign wealth funds,’ Mandelson told reporters in Abu Dhabi, capital of the United Arab Emirates, without giving further specifics.

‘We welcome sovereign wealth fund investments, unlike some other countries that are hesitant, and we strongly encourage investments from the UAE and others into Britain.

We need liquidity in the system, we need funds to flow, we need credit to flow,’ Mandelson said.”

read more: Reuters

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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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