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Posts Tagged ‘sovereign’

Temasek, GIC raise US$9.9b, most among sovereign firms

Temasek Holdings Pte and Government of Singapore Investment Corp. raised about US$9.9 billion ($13 billion) from international investors over the past year, selling more debt and equity than any other state investment firm.

Temasek, based in Singapore, sold almost US$6 billion of bonds since October last year. Temasek-controlled Mapletree Industrial Trust and Global Logistic Properties, GIC’s overseas logistics unit, raised $5.1 billion selling shares in October, accounting for 10% of the record initial public offerings in the Asia-Pacific region that month, according to data compiled by Bloomberg.

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“Holland sovereign, can’t be pressured”

EU Enlargement Commissioner Stefan Fuele has suggested to a Dutch parliament committee to support Serbia’s EU candidate status bid. Dutch officials say theirs is a sovereign country that makes its decisions independently, and cannot be pressured.

Asian Sovereign Wealth Funds invest in Chesapeake

Sovereign wealth funds from China, Singapore and South Korea and two private-equity firms agreed to invest US$900 million ($1.2 billion) in Chesapeake Energy Corp., the third-largest natural-gas producer in the US.

The investors bought the Oklahoma City-based gas company’s 5.75% convertible preferred stock on June 18, Chesapeake said yesterday in a statement, without giving details of the individual stakes. South Korea’s $30 billion sovereign wealth fund said yesterday it will spend US$200 million.

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Sovereign funds return after retreat, says study

Sovereign wealth funds picked up their pace of spending in the second half of 2009 after an extended period of retrenchment during the global financial crisis, a recent study said.

The last two quarters of 2009 accounted for 85% of what the funds publicly invested during the year, the study said.

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Moody’s Talks Downgrade of U.S. and U.K. Sovereign Credit Ratings

Today, Moody’s is again hinting about sovereign credit downgrades for the U.S. and UK..As Bloomberg writes:The U.S. and the U.K. have moved “substantially” closer to losing their AAA credit ratings as the cost of servicing their debt rose, accordin…

Prudential taps Asian sovereign funds to finance AIA deal: FT sources

UK insurer Prudential is tapping sovereign wealth funds in China and Singapore to help finance its US$35.5 billion ($49.9 billion) buyout of US insurance giant AIG’s Asian arm, an FT report said today, according to Dow Jones Newsires.

The Financial Times quoted unidentified sources as saying that Prudential and its advisers were in talks with the sovereign wealth funds to support a planned US$20 billion share offer for AIA.

It said the Singapore and China sovereign wealth funds had not made a final decision but their response was positive.

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Ferguson and Faber: Sovereign Debt Crisis Will Spread World-Wide, U.S. Debt Is Unsafe

In a must-read essay, Niall Ferguson slams the prevailing Keynesian consensus, and says that the sovereign debt crisis in Greece will spread to America:What we in the western world are about to learn is that there is no such thing as a Keynesian free l…

What Do Rising Sovereign Credit Default Swaps Mean?

Here are the CDS of Greece, Portugal, Spain and the U.S.:[click here for full image]Rolfe Winkler argues that – in the short-run – the PIIGS countries (Portugal, Ireland, Italy, Greece and Spain) will slash their budgets and get bailed out by the EU.S…

Lady Sovereign says she saw Katy Perry’s private parts

British rapper Lady Sovereign, real name Louise Amanda Harman, has claimed that she has seen ‘I Kissed A Girl’ singer Katy Perry’s private parts.
Lady Sovereign, 24, had last year in April been photographed with Perry, 25, fondling her breasts, and rumours surfaced that they got cosy in the bathroom at a party in New York [...]

Sovereign Credit Ratings: China Up … UK, US, Japan and France In Question

I have previously written numerous articles documenting about sovereign credit ratings, asking whether the UK would lose its AAA rating, and pointing out that the credit rating agencies were playing games to avoid stripping the U.S., UK, Ireland and Sp…

“By All Relevant Debt Indicators, the US Fiscal Scenario Will Soon Approximate [that of] Countries on the Verge of a Sovereign Debt Default”

Josh Lipton points out:The American Enterprise Institute for Public Policy Research (AEI) published a paper indicating that “by all relevant debt indicators, the US fiscal scenario will soon approximate the economic scenario for countries on the verg…

Head of China’s Sovereign Wealth Fund: “Both China and America are Addressing Bubbles by Creating More Bubbles”

In news of the obvious-but-taboo-to-discuss, Lou Jiwei – the chairman of China’s sovereign wealth fund – recently told a forum organized by the Brookings Institution and the Chinese Economists 50 Forum, a Beijing think-tank: Both China and America a…