Asian SWFs increase global share

Asian SWFs will account for about 45% of global SWF assets in 2015, with an estimated value of $10 trillion, said IFSL senior economist and author of the report, Marko Maslakovic. This is up from 28% of last year's $3.3 trillion in assets. At the end of 2007, oil-producing Middle East countries held 45% of global SWF assets, while Europe accounted for 18%, and Australia, Africa and the Americas held 8%.

"Some governments in Asia feel they have enough official foreign exchange reserves for

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Irish woes may spread to other PIIGS

Market fears over the solvency of Ireland’s troubled banks and the potential threat they pose to both government finances and to the country’s growth prospects may yet bring contagion to other peripheral European markets, investors fear.

SWF assets reach $3.8trn

LONDON - Assets under management by global sovereign wealth funds (SWFs) are set to reach $10 trillion by 2015, according to a new report by International Financial Services London (IFSL), a private sector industry body.

Gulf single regional currency approved

DUBAI - Central bankers from Arab Gulf states approved a draft monetary union treaty last week (June 9) for creating a single regional currency. Saudi Arabia, Qatar, the United Arab Emirates, Bahrain and Kuwait agreed to create a Gulf currency by 2010…

GCC currency pairs live on ACM

GENEVA - Six new Gulf Co-operation Council (GCC) currency pairs are now available to traders on Geneva-based online currency trading platform AC Markets (ACM).

Debate on SWFs heats up

LONDON - Calls for greater transparency by sovereign wealth funds were matched by demands from the funds themselves for fair regulatory treatment, at last week's Sovereign Wealth Management conference in London.

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