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Friday, 4 April 2014

Bunge chief on future of crop supplies - YouTube

Bunge chief on future of crop supplies - YouTube: ""

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Chinese investors cash in on Dubai’s realty boom |

Chinese investors cash in on Dubai’s realty boom |

"About 24 kilometres from the Burj Khalifa on the edge of the desert is a growing housing and retail community that would look more at home in Beijing than Dubai: Stores and restaurants have Chinese signs and a huge dragon sculpture adorns the Dragon Mart shopping mall. After pouring billions of dollars into cities including London, New York and Sydney, individual investors and developers in China are expanding into Dubai. About a 1,000 individual Chinese investors spent Dh1.3 billion on land, residential units and office real estate in Dubai last year, according to data from Dubai Land Department. That is a nearly three-fold increase from the Dh486 million spent by 288 Chinese investors the previous year.

Overall, property transactions by individuals in the emirate climbed 53 per cent last year to Dh236 billion, with foreign investors buying Dh114 billion of land and property. “Dubai is becoming more and more known by the Chinese people,” says Wang Liao, owner of Dubai based Atomic Properties, a broker that predominantly caters to Chinese buyers and is located a short walk from Dragon Mart."

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Victor Pinchuk's Interpipe company has debt downgraded to junk by Fitch | #EuroMaidan

Victor Pinchuk's Interpipe company has debt downgraded to junk by Fitch | World news |


The Pinchuks’ house in Kensington was bought for £80m and houses an art collection that includes work by Damien Hirst. Photograph: Richard Young / Rex Features
A major company owned by one of Ukraine's wealthiest oligarchs – who boasts a £2bn fortune and counts Tony Blair, Bill Clinton, Elton John and Damien Hirst among his friends – has had its debt downgraded to junk amid concerns about its finances.

Victor Pinchuk, who was reported last year to be bankrolling the former British prime minister's Faith Foundation and owns an £80m home in London, controls the Ukraine industrial pipe manufacturer Interpipe, which is struggling to repay creditors.

The financial crisis at his company comes as the tycoon has become a vocal supporter of the new Ukraine regime – despite his businesses deriving a significant chunk of their sales from Russia."

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EM fund flows: they’re back! | beyondbrics

EM fund flows: they’re back! | beyondbrics:

"Is this a turning of the tide? After 22 straight weeks of outflows, dedicated EM equity funds recorded inflows of $2.44bn in the week to April 2, equal to 0.3 per cent of assets under management in the sample followed by EPFR, the Boston-based fund flow watcher.

EM bond funds, too, had inflows in the week, of $1.06bn, or 0.5 per cent of AUM, only the second week of inflows out of the past 17.

So does the past week mark a change in sentiment for EM? Not so fast.

The first thing to remembers is that, as EPFR notes, even with the modest reversal at the end of March EM equity funds notched up outflows of $41bn in the first quarter of 2014 – a quarterly record that followed outflows of nearly $27bn for the whole of 2013."

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Kubiv Central bank to revoke licenses of banks incriminated in money laundering - #EuroMaidan

Kubiv Central bank to revoke licenses of banks incriminated in money laundering:

"Stepan Kubiv, Central bank head, warned the banks operating as money laundering centers will be closed, Kubiv told Reporter Apr. 4.

Checks have revealed money laundering centers in 12 banks.

“About UAH142 billion are being laundered in Ukraine, with the total amount of cash at UAH300 bn. If we fail to bring the grey sector into the limelight, it will be rather difficult to ensure economic growth,” Kubiv said.

S. Kubiv also stressed the need to return the flight capital to Ukraine. “We cannot speak about total amnesty. We should speak about the moral amnesty.
“There are large amounts of Ukrainian money outside Ukraine, in Arab countries, for instance. Shadow money are in the running in all Ukraine cities,” he said."

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Value with 20/20 hindsight - YouTube

Value with 20/20 hindsight - YouTube: ""

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Abu Dhabi companies close to defence merger | The National

Abu Dhabi companies close to defence merger | The National:

"The Abu Dhabi-based investment companies Mubadala, Tawazun Holding and Emirates Advanced Investments yesterday came one step closer to merging their defence services businesses, after signing an agreement to explore the advantages of a new partnership.

The three companies signed a memorandum of understanding at the International Exhibition for Security and National Resilience in Abu Dhabi.

“There is a clear opportunity to combine our related assets to the benefit of the UAE’s wider defence sector, as well as our local and international customers,” said Homaid Al Shemmari, the chief executive of Aerospace and Engineering services at Mubadala Development Company."

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Kuwaiti family exploring sale of Americana food group |

Kuwaiti family exploring sale of Americana food group |

"Kuwait’s billionaire Al Kharafi family is looking to sell Americana, one of the Middle East’s largest food companies, and has hired bankers to explore a deal, four sources familiar with the matter told Reuters.

There is no formal process underway, the sources said, but the family is working with investment bank Rothschild to approach potential buyers including private equity groups and sovereign wealth funds in the region to explore their interest in the $3.6 billion group.

According to Thomson Reuters data, the Kharafi family holds 66.8 per cent of Kuwait Food Company, which sells goods under the brand name Americana, through its private investment company MAK (Mohammed Abdulmohsin al-Kharafi & Sons)."

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Libya Rebels Report Accord ‘in Principle’ to Reopen Ports - Bloomberg

Libya Rebels Report Accord ‘in Principle’ to Reopen Ports - Bloomberg:

"The prospects for a recovery in Libyan oil exports moved closer after rebels blocking shipments from the country’s east said they agreed in principle with the government to allow a resumption.

The rebels’ Executive Office for Barqa, representing the eastern region of Cyrenaica, reached an accord that four terminals halted since July can reopen, Ali Al-Hasy, a spokesman for the group, said April 2. Barqa politicians indicated the ports could operate within 24 to 48 hours, Sliman Qajam, a member of the energy committee in Libya’s government, said by phone yesterday from Tripoli, the capital."

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Dubai’s Emirates Reit Increases Share Sale Size to Meet Demand - Bloomberg

Dubai’s Emirates Reit Increases Share Sale Size to Meet Demand - Bloomberg:

"Emirates Reit, the United Arab Emirates’ first real-estate investment trust, raised the size of its share sale to $175 million to accommodate investor demand for Dubai’s first equity issuance in at least five years. 

The closed-end fund increased the amount from $150 million as the initial public offering was three-and-a-half times oversubscribed, the company said in a statement. It offered 128.6 million shares at $1.36 a piece, taking the market capitalization of Emirates Reit to $381.2 million and the free float to 46 percent. 

The pricing was at the lower end of the indicative range of $1.36 to $1.56, according to the fund. Home prices in Dubai could jump as much as 40 percent this year, according to the emirate’s Land Department. The sheikhdom’s economy may expand 4.7 percent in 2014 after recording the fastest growth in six years in 2013. Emirates Reit wants to capitalize on resurgent interest in real estate in Dubai, where economic growth and property prices have rebounded since 2009."

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Etihad Said to Near Accord to Be Biggest Alitalia Owner - Bloomberg

Etihad Said to Near Accord to Be Biggest Alitalia Owner - Bloomberg:

"Etihad Airways PJSC is close to an agreement to become Alitalia SpA’s biggest investor after studying the Italian carrier’s books for the past weeks, people familiar with the matter said.

The two sides may sign a letter of intent as early as this week, said the people, who asked not to be identified because the talks are private. Etihad, the Abu Dhabi flag carrier, is considering a cash contribution of at least 250 million euros ($343 million), two of the people said. The accord isn’t final and a deal may still fall apart, another person said.

Etihad, the smallest of the major three Middle East carriers, confirmed in December that it’s in talks with Alitalia, and the company said in February that it would decide within a month whether to invest in the unprofitable airline. Spokesmen for Etihad and Alitalia, which received a government-sponsored bailout last year, had no comment."

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