A consortium led by sovereign wealth fund China Investment Corp is in talks to buy a 49 percent stake in American Life Insurance Co (Alico), a unit of AIG (AIG.N: Quote, Profile, Research, Stock Buzz), in a deal that could be worth up to $10.6 billion, Japan’s Nikkei business daily reported on Friday.
The paper said [...]
China and other developing countries should be given more influence in the global financial system if they provide money to help resolve the world’s economic crisis, a senior official of the country’s $200 billion sovereign wealth fund said on Monday.
“Developed countries should come to talk to developing countries with humility,” Jin Liqun, supervisory board chairman [...]
Australian miner Fortescue Metals Group Ltd (FMG.AX: Quote, Profile, Research, Stock Buzz), which relies solely on sales of iron ore to China’s steel sector, on Monday denied a report it was in talks to sell a stake in the company to a Chinese sovereign wealth fund.
The South China Morning Post reported that China Investment Corp [...]
China yesterday pledged the first fund of 100 billion yuan in its 4-trillion-yuan (US$586 billion) economy stimulus package will be distributed in the fourth quarter of this year.
The country will also strive to guarantee funds allocated to stimulate the economy will be wisely used so that they meet the expectations of tax payers, said Mu [...]
China Minsheng Banking Corp, the nation’s first privately owned bank, said it plans to sell bonds to help cover a shortfall of 10 billion yuan (US$1.47 billion) as the nation’s regulator raises the minimum capital adequacy ratio.
The China Banking Regulatory Commission may “soon” require small and medium-sized banks to maintain a minimum capital ratio of [...]
Pakistan expects the IMF and other lenders to provide billions of dollars in loans soon, and China to pitch in with $500 million to avert a balance of payments crisis, the country’s top economic adviser said.
Shaukat Tarin told Reuters late on Thursday the government would soon deliver a “letter of intent” to the International Monetary [...]
