China in Laos: Counting the cost of progress Sep 19, 2009
The Chinese government's "Guidelines for Environmental Conduct Overseas" are expected to be issued soon by the Ministry of Environmental Protection and other offices responsible for the management of overseas investment, aid and loans. These should help to improve the environmental impact of China's financial policies and regulate Chinese companies' environmental conduct overseas. (Asia Times Online)
New Zealand Farmers Buy More Stock in Fonterra, World's Biggest Milk Firm Sep 18, 2009
The company had planned to sell stock to outside investors in 2010 to fund overseas investment and maintain its share of global dairy markets. That proposal, outlined in November 2007, was similar to the 1986 listing of Irelands biggest food maker. (Bloomberg -- Australia & New Zealand)
Overseas investment in stock mkts crosses $9 bn Sep 18, 2009
NEW DELHI: Overseas investors have poured Rs Rs 43,837 crore (USD 9. 05 billion) into the country's stock markets so far this year, reflecting confidence of foreign funds in the Indian equity markets. (India Times)
Malaysia key market for global investors Sep 18, 2009
The liberalisation process initiated by this government recognised the fact that Malaysia must remain open in order to remain competitive and that the process of opening up to overseas investment is critical to our overall economic development, he added. Most Viewed. (The Star Online, Malaysia -- Business)
Nippon Life Insurance Plans to Invest $500 Million in Prudential Financial Sep 17, 2009
Nippon Life, like others Japanese insurers, is looking to take advantage of overseas opportunities, said , a Tokyo-based insurance analyst at Macquarie Group Ltd. The demographic trends in this country makes overseas investment an important strategy and the relatively strong capital position of the Japanese insurers allows them to execute on opportunities. . (Bloomberg -- Japan)
South Korea seeks foreign investment to bolster recovery Sep 16, 2009
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OVL drops plan to produce oil from Farsi block in Iran Sep 16, 2009
The consortium doesnt intend to surrender the (Farsi) block as it will produce gas from the field, said a senior executive with OVL, the overseas investment arm of Oil al Gas Corp (ONGC), the countrys largest energy firm. The consortium has already submitted a $5 billion development plan to produce gas from the field, he said, requesting anonymity. (India Times)
OVC property, anyone? Sep 12, 2009
Forex allowance for overseas investment will soon be increased. Meanwhile, he notes, the US dollar is weaker in world terms and it is expected that the foreign exchange allowance for overseas investment by South Africans will soon be increased from the current R2-million per individual and R4-million per family, which will make it easier for locals to afford overseas properties. (iAfrica.com)
Daiwa to Scrap Sumitomo Mitsui Banking Venture Today, Buy Partner's Stake Sep 10, 2009
Daiwa must respond to this crisis, said , a Tokyo-based analyst at Credit Suisse Group AG. It remains to be seen how Daiwa will overcome the loss and expand its investment banking on its own, or in an alliance with a local lender or overseas investment bank. . (Bloomberg -- Japan)
ArcelorMittal, Posco May Start Building Delayed Indian Plants Next Year Sep 10, 2009
Pohang, South Korea-based Poscos $12 billion, 12 million metric ton plant in eastern Orissa state, potentially the single-biggest overseas investment in India, has been delayed since plans were drawn up in 2005. ArcelorMittal aims to build a mill in Orissa state and another in Jharkhand with a total capacity of 24 million tons and at a cost of $20 billion. (Bloomberg -- Asia)
Vital sign for securities market Sep 9, 2009
On the other hand, the US subprime crisis was looming since 2007, especially after Sept 2008 when many overseas investment institutions were plunged into difficulties in their domestic markets and could not pay attention to foreign markets. But now with positive changes in China's stock market, foreign investors can invest in China at any moment as long as they are willing to do so. (Xinhuanet, China)
Stocks to watch: Tech Mahindra, Jet Airways Sep 8, 2009
ONGC Videsh Ltd, the overseas investment arm of flagship explorer Oil and Natural Gas Corporation, is pumping $209 million into Russian fields of Imperial Energy for ramping up production, even as it looks to acquire more acreages by bidding in the auction rounds planned by Moscow this year. McNally Bharat Engineering has recommended dividend of 12. (India Times)
OVL to pump $209 mn in Imperial Sep 8, 2009
Tomsk (Western Siberia): ONGC Videsh Ltd, the overseas investment arm of flagship explorer Oil and Natural Gas Corporation, is pumping $209 million into Russian fields of Imperial Energy for ramping up production, even as it looks to acquire more acreages by bidding in the auction rounds planned by Moscow this year. ONGC Videsh has raised production from Imperial's fields, situated in the Western Siberian province of Tomsk, to 11,200 bpd (barrels per day) in just 8-9 month of taking over the... (India Times)
Easier FDI guidelines for small scale sector Sep 5, 2009
NEW DELHI: To help cash-strapped micro and small enterprises attract higher overseas investment, the government on Friday liberalised the FDI norms for the sector, replacing the current 24% ceiling on foreign holding with the sectoral caps ... The FDI norms will also help them modernise as overseas investment will bring modern technology with it ... To help cash-strapped micro and small enterprises attract higher overseas investment, the government on Friday liberalised the FDI norms for the... (India Times, India -- Intl Business)
China wealth fund to raise overseas investment Aug 28, 2009
TOKYO: Chinas sovereign wealth fund will increase new overseas investment this year by around 10 times from the previous year on signs the global economy has bottomed out, one of the organisations top managers said in a newspaper interview. Gao Xiqing, president of China Investment Corp (CIC), also said he was examining making new investment in Japanese companies and property on prospects of a recovery in the countrys economy, according to the interview that ran yesterday in Japans daily... (The Star Online, Malaysia -- Business)
Kissinger back in currency amid China bubble Aug 26, 2009
Yu, a member of the central banks monetary policy committee from 2004 to 2006, wants the government to encourage more overseas investment, reduce exports and promote sales of yuan-denominated debt by foreign companies while transitioning from managing the currency and piling up US dollar assets. Turbulent times. (Sydney Morning Herald -- Business)
FIIs book profit; sell stocks worth Rs 4,000 cr in two weeks Aug 24, 2009
Till now this year, FIIs have remained bullish on the Indian equities and the overseas investment in the stock market touched Rs 35,460 crore (USD 7. 3 billion) in 2009. (India Times)
* Expansive China faces foreign resentment Aug 22, 2009
With China still needing to secure access to global resources, some Chinese policy-makers are talking about redirecting billions of dollars into overseas investment instead. The resentment felt by the Algerian shopkeeper toward his new Chinese neighbors is not universal: people in many places welcome the benefits from Chinese investment. (Taipei Times, Taiwan -- World)
China's Yu Seeks Free-Floating Yuan as Government Encouraged to Slow Sales Aug 21, 2009
The government needs to encourage more overseas investment, reduce exports and promote sales of yuan-denominated debt by foreign companies as part of a transition from managing the currency and piling up U.S. dollar assets, Yu said. Chinas foreign rose 9. (Bloomberg -- Asia)
ActionView International, Inc. Announces Reporting Plans Aug 20, 2009
"Since MatchFights intends to operate its business on a global scale, the public market opportunities do not stop at the U.S. border. We expect to entertain the potential of overseas investment and other strategies intended to build the value of the company and its brands," added Mr. Geddes. MatchFights' recently completed acquisition by ActionView International was closed as a result of an exchange of shares in which ActionView International, Inc. acquired 100% of MatchFights, LLC's issued and... (Yahoo! Wire -- Entertainment News)
Norway's Oil Fund Investments Post Record 12.7% Advance in Second Quarter Aug 16, 2009
Norways Oil Fund Posts Record 12. 7% Quarterly Gain (Update1) - Bloomberg. (Bloomberg -- Europe)
India's Singh Marks Independence, Pledges Aid for Drought-Sticken Farmers Aug 15, 2009
Singh said the government will bring in more overseas investment, encourage exports and increase public investment and spending to meet the greatest challenge of restoring growth to 9 percent. We expect that there will be an improvement of situation by the end of this year. (Bloomberg -- Asia)
Cashing in on offshore investment Aug 15, 2009
Chan says overseas investment for him represents added opportunity and is a way to diversify. For example, the US and other foreign shares do not always move in tandem. (The Star Online, Malaysia -- Business)
RIL exits ONGC team for Venezuela oil bid Aug 13, 2009
Mr Sharma said ONGC Videsh, the overseas investment arm of ONGC, has been looking for assets across the globe. We are evaluating various options. (India Times)
OVL eyes Russian partner to bid for Argentina's YPF Aug 13, 2009
MUMBAI: ONGC Videsh Ltd (OVL), the overseas investment arm of state-owned ONGC, is in talks with three Russian companiesRosneft, Lukoil and Gazpromfor acquiring a substantial stake in YPF, the Argentinean arm of Spanish oil major Repsol YPF SA. The total holding of Repsol YPF in the Argentinean company is 84%, with a potential deal having a ticket size of over $17 billion ... OVL, the overseas investment arm of state-owned ONGC, is in talks with three Russian companiesRosneft, Lukoil... (India Times)
Asian lift: international business stirring in Bay area law firms Jul 27, 2009
The Chinese government has loosened regulations and is encouraging overseas investment. Her clients prefer to invest in brand name companies, although they like small, privately owned businesses in the Tampa Bay area. (Tampa Bay Business Journal, FL)
Separating the wheat from the chaff Jul 25, 2009
Ferguson says the overseas investments are expected to negatively impact the groups earnings over the next three to four years before turning cash positive ... 03bil in key overseas investment from pre-FY08 until FY09, Ferguson says Astro is committed to invest RM321mil from FY10 to FY12 for its key overseas investments. (The Star Online, Malaysia -- Business)
Stock picks in key sectors Jul 25, 2009
6 times is at a discount to the industrys average, but overrriding concerns about potential damaging impairment charges on overseas investment and loan loss provision are major turn-offs for investors. Post a RM6bil rights issue announced earlier this year, Maybanks key capital ratios will at very healthy levels. (The Star Online, Malaysia)
China's Free-Trade Credentials Under the Spotlight Jul 23, 2009
The rejection raised concerns about whether China is playing fair within the shifting rules of overseas investment at a time when the economic downturn has led to an increase in accusations and counter-claims of protectionism in many countries. Safeguarding jobs, supporting domestic industries and championing exporters have become imperatives, while the world's free-trade regulations are increasingly breached. (BusinessWeek)
NZ gov't to ease overseas investment rules Jul 23, 2009
WELLINGTON, July 23 (Xinhua) -- New Zealand Finance Minister Bill English said on Thursday that the government has simplified overseas investment rules and is looking to ease up other restrictions. The changes are the first part of a two-part review, with the second part focusing on changes to the Overseas Investment Act itself, the New Zealand Press Association reported ... Under the changes, ministers have delegated greater decision-making powers to the Overseas Investment Office, which will... (Xinhuanet, China)
Family pays tribute to Australian killed Jul 19, 2009
" Mr Senger was sent to Jakarta a year ago to help oversee the expected expansion of overseas investment into Indonesia's booming mining industry. The 36-year-old had expressed hope that Australian businesses could exploit reforms due to liberalise Indonesian investment laws. With huge international experience, Mr Senger was also previously instrumental in bringing Indian mining giants such as Tata Steel to Australia to buy technology and services as well as liaising with Russian officials. His... (Sydney Morning Herald -- Australia)
Official: China's forex reserve not investment fund Jul 18, 2009
BEIJING, July 15 (Xinhua) -- China's foreign exchange regulator said Wednesday it would loosen its controls on overseas investment procedures and foreign exchange management of domestic companies to boost outbound investment. In a statement on its website, the State Administration of Foreign Exchange said a regulation, which will take effect on Aug.1, would simplify the examination and approval procedures for domestic companies with overseas investment plans. (Xinhuanet, China)
South Korean Pension Fund Plans to Double Its Holdings of Overseas Assets Jul 18, 2009
Kim and Jeon Jae Hee, who oversees the state pension fund and is the minister of , were in New York to attend an investors conference and brief asset managers about the funds overseas investment strategy ... Fifty-five percent of our overseas investment goes to the U.S. but were trying to diversify this because we think that we should hedge risks and try to boost profitability and return, Jeon said in an interview. (Bloomberg -- Asia)
China simplifies rules on forex use Jul 16, 2009
BEIJING, July 15 (Xinhua) -- China's foreign exchange regulator said Wednesday it would loosen its controls on overseas investment procedures and foreign exchange management of domestic companies to boost outbound investment. In a statement on its website, the State Administration of Foreign Exchange said a regulation, which will take effect on Aug.1, would simplify the examination and approval procedures for domestic companies with overseas investment plans ... The regulation would also allow... (Xinhuanet, China)
China's foreign investment sinks 18% Jul 15, 2009
"We are still confident and optimistic about overseas investment this year," Yao said. Reuters. (Sydney Morning Herald -- Business)
Indian Oil Delays Overseas Investments After Fuel Sales Reduce Cashflow Jul 14, 2009
Indian Oil Delays Overseas Investment on Reduced Cash (Update1) - Bloomberg ... Indian Oil Delays Overseas Investment on Reduced Cash (Update1) ... Indian Oil is in discussions with ONGC Videsh Ltd., the overseas investment arm of , and to bid for an oilfield in Venezuela. (Bloomberg -- Asia)
Australia to Press China for Information on Arrest of Rio's Hu, Swan Says Jul 14, 2009
5 billion investment by , four months after agreeing to what would have been Chinas biggest overseas investment. Hus detention wasnt connected to the failed deal, Aluminum Corp. said in a statement last week. (Bloomberg -- Australia & New Zealand)
EPF equities value surges Jul 14, 2009
About a quarter of this money is invested in equities, but only a fraction is allowed for overseas investment. Contrary to popular belief, the EPF is quite aggressive in managing its stock portfolio, said a senior fund manager with a local asset firm. (The Star Online, Malaysia -- Business)
MFs line up feeder funds Jul 13, 2009
Holding on to the old risk diversifier theory, fund houses are launching more overseas investment schemes, with many acting as feeder funds that will increase the asset base of the main fund. Undeterred by low performance, fund houses like DSP Blackrock, ICICI Pru, IDFC, Mirae Asset, Reliance and JPMorgan are launching newer schemes that are mandated to invest in stocks of foreign companies. (India Times)
Australia to Press China Over Rio Tinto Detentions as Case Tests Relations Jul 13, 2009
5 billion investment by , four months after agreeing to what would have been Chinas biggest overseas investment. Hus detention was not made in connection with the failed deal, Aluminum Corp. said in a statement last week. (Bloomberg -- Asia)
14-year contempt sentence ends Jul 11, 2009
Mr. Chadwick contended he no longer had the money, saying he lost it in a bad overseas investment. The judge believed he hid the money after divorce proceedings were started. (Pittsburgh Post-Gazette, PA)
Chinese labor straining neighborly ties Jul 11, 2009
"Vietnam is slightly different in that it features, at least to some extent, official Chinese overseas ventures in a country which has more power vis-a-vis overseas investment - hence the repatriations." ... "Officially, the Chinese are pushing domestic companies overseas. This is a priority, and to this end they have made several policies that ease domestic Chinese companies access to resources and foreign exchange that promotes overseas investments.". (Asia Times Online)
Market is over-reacting, say experts Jul 9, 2009
Apart from overseas investment experts, it was clear that the fear was exaggerated. The US-based market experts, speaking exclusively to ET NOW , agreed that it was a case of over-reaction. (India Times)
Japan's current account surplus plunges Jul 8, 2009
The current account is the broadest measure of the country's trade with the rest of the world, including trade in goods and services as well as returns on overseas investment. In April, the surplus plunged 54. (Sydney Morning Herald -- Business)
Beijing frets about the offshore stumbles Jun 29, 2009
Its rate of overseas investment has risen exponentially since 2002 but still lags well behind other big economies ... Whichever way you look at it, the country is under-invested in direct overseas investments and over-invested in international debt markets (through its $US2 trillion in foreign reserves) ... They say those overseas investments will be diversified into all manner of goods and services firms, particularly in developed countries that have the know-how, brands and international... (Sydney Morning Herald -- Business)
NTPC, Coal India to buy mining assets Jun 24, 2009
Further, the coal ministry has proposals to raise the overseas investment limit of CIL beyond Rs 1,000 crore for asset acquisition. The proposal would be soon placed before the cabinet committee, minister of state for coal Sriprakash Jaiswal has said. (India Times)
Bollywood money woes Jun 23, 2009
Mumbai's once booming flamboyant Hindi-language film industry is hit hard, as overseas investment dries up. Foreign money has poured into Mumbai's flamboyant Hindi-language film industry, which churns out more than 1,000 films each year. (CNN -- International)
GM Test-Driving A Foreign Business Model Jun 23, 2009
The company's business decisions have remained largely independent from the semi-autocratic Singaporean government, and its management has embraced overseas investment more vigorously than most private firms. Even its incoming chief executive -- Charles Goodyear, the American great-great-grandson of the famous rubber baron -- is a foreigner. (CBS News)
Japan May Offer Loans to Fund Clean-Coal Power Plants in Australia, U.S. Jun 17, 2009
Overseas investment in ZeroGen would be strongly welcomed, said the spokesperson who asked not to be identified citing internal rules. Welcome Backing. (Bloomberg -- Japan)
Albanese on shaky ground Jun 6, 2009
Can he now argue with credibility that, actually, a rights issue is the way to go, and don't worry that China might be mighty peeved to find its largest overseas investment is a non-runner. Mr Albanese will not be a popular man in Beijing. (Sydney Morning Herald -- Business)
Exit the dragon Jun 6, 2009
" As Rio and BHP entered deeper negotiations about an iron ore joint venture in recent weeks and Rio's underwriters at JP Morgan Cazenove, Morgan Stanley, Credit Suisse, Macquarie and RBS prepared for a Rio capital raising - the first to be undertaken by a dual-listed company - for its part, Chinalco was working hard to salvage a deal that would represent China's biggest ever overseas investment. It was not a coincidence that Chinalco's boss, Beijing-based Xiong Weiping, and London-based... (Sydney Morning Herald -- Business)
Foiled Chinalco rethinks future Jun 6, 2009
HONG KONG - Executives of China's largest aluminum producer this weekend are nursing their failure to secure the country's biggest overseas investment and plotting where to go now, after Rio Tinto rejected their US$19. 5 billion proposal to buy an increased stake in the Australian mining giant. (Asia Times Online)
* Global mining giant Rio Tinto scraps deal with Chinalco Jun 6, 2009
Rio Tinto chairman Jan du Plessis said in a letter to shareholders that the planned deal with Chinalco was now dead and his company would pay it a US$195 million break fee, thus ending what would have been China's biggest overseas investment to date. The proposed deal with Chinalco had sparked opposition in Australia amid concerns that a foreign state-backed enterprise would own a strategic stake in the country's biggest natural resource assets. (Taipei Times, Taiwan)
* TIANANMEN 20 YEARS ON: Taiwan-based Tiananmen leader tries to enter China Jun 5, 2009
Wuer Kaixi fled to the US after the 1989 military crackdown and has lived in Taiwan for years, working as the manager of an overseas investment company. His wife is Taiwanese and Wuer Kaixi is now a Taiwanese citizen. (Taipei Times, Taiwan)
India to Allow More Investments, Sell Stakes in State Firms to Spur Growth Jun 4, 2009
June 4 (Bloomberg) -- India may allow greater overseas investment, sell stakes in state-run companies and inject more capital into lenders to stoke economic growth, President Pratibha Devisingh Patil said. Foreign direct investment needs to be encouraged through an appropriate policy regime, Patil said in New Delhi today as she unveiled Prime Minister s plans to a joint session of parliament. (Bloomberg -- Asia)
Chinalco May Revise Rio Deal Before Deadline: Sources Jun 4, 2009
Any changes would address concerns raised by both Canberra and Rio Tinto shareholders over the biggest overseas investment by a Chinese company. "I think they'll (Chinalco) come out and make an announcement before the deadline," an investment banker with direct knowledge of the deal told Reuters. (ABC News -- Wire)
* THE LIBERTY TIMES EDITORIAL: Helping China milk Taiwan dry Jun 3, 2009
Chinese investment is mostly motivated by politics and over the past few years, Beijing has engaged in overseas investment and takeovers not for business, but because of strategic demands. Once the government allows Chinese investors in, the stock market and real estate market will be controlled by China. (Taipei Times, Taiwan -- Sports)
'FDI not allowed in retail' Jun 3, 2009
There are safeguards against FDI in sensitive sectors like broadcasting and defence production, while the policy does not allow overseas investment in retail, he said. The "misunderstanding" on FDI being allowed indirectly in multi-brand retail "is not well placed at all", he said. (India Times)
SKorea, ASEAN to hold summit overshadowed by NKorean threat May 31, 2009
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Analysts say India economy headed higher, with reforms in sight May 31, 2009
The government may privatise some state-owned firms and raise foreign-ownership caps in insurance and aviation as well as possibly broadening overseas investment access in retailing. But Mukherjee said his "top priority" was "reviving the growth momentum" and helping the poor and he would step up spending even if this meant scant progress in closing India's yawning fiscal deficit, which at 6. (Channelnewsasia.com)
English Says S&P Raising New Zealand's Outlook to Stable Was a `Surprise' May 29, 2009
It plans a review of overseas investment regulations to remove obstacles to foreign capital. which make up 30 percent of the economy, are a key component of the recovery plan. (Bloomberg -- Australia & New Zealand)
China's Investment Rules Reduce Need for Yuan Intervention, SocGen Says May 19, 2009
May 19 (Bloomberg) -- Chinas loosening of restrictions on overseas investment will reduce the need for intervention to stop the currency from strengthening, Societe Generale SA said ... The institutions can also reinvest profit gained from overseas investments. (Bloomberg -- Asia)
Beijing wizardrydoes the trick May 14, 2009
Output also surged even as exports collapsed more than 22% in April and after overseas investment in the country slumped for a. sixth month in March to be down about 21% in the first quarter from a year earlier. (Asia Times Online)
Indian property struggles as funds stay away May 11, 2009
Property prices doubled in the two years after India eased rules in early 2005 on overseas investment in its construction industry, partly fuelled by interest from foreign investors. But the sharp rise, followed by interest rate hikes to calm inflation and global financial turmoil have battered the sector. (India Times)
Shinsei may exit MF venture in India May 9, 2009
Both banks have been hit by their exposure to US subprime loans, and other failed overseas investment bets. Shinsei Bank had joined hands with leading proprietory investor Rakesh Jhunjhunwala and Freedom Financial promoted by Sanjay Sachdev, the India head of Shinsei Corporate Advisory Services. (India Times)
