China
It’s Hedge Funds vs The PBOC Over Yuan, Investors Not Convinced Wth The Currency
Some of the biggest hedge funds have initiated bets against the Chinese yuan. The world billionaire investors believe that they currency will still be devaluating.
Beijing Electric Acquires EEW For €1.44 Billion, The Largest Ever Chinese Direct Investment In Germany
BEHL is going to purchase the leading German waste to energy recycler EEW for €1.44 Billion. The deal appears to be the largest ever Chinese direct investment in Germany. Following legal obligation, the transaction will be cleared under the German Foreign Trade and Payments Ordinance.
Wall Street monitors USD, while oil price drops
Investors are concerned as the US stock index futures turned weaker. The marginal recovery in oil price amid drop in the US dollar puts the Wall Street on cautious note. On the other hand, Asian and European stocks were trading marginally higher on oil price recovery and drop in US dollar.
Ningbo Joyson to acquire Key Safety Systems
Ningbo Joyson has signed a definitive deal to acquire US-based airbag maker Key Safety Systems. KSS hope that the merger with Joyson will further accelerate its business and fasten its future growth.