A boom in Chinese internet stocks helped propel San Francisco-based hedge fund to double digit gains this year when other hedge funds have given dull returns, according to a Reuters report.
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Bank of America Merrill Lynch pulls out of bidding to advise Turkish Aselsan after China deal
Bank of America Merrill Lynch has dropped its offer to advise Turkey's Aselsan on a planned secondary listing. The Turkish defense contractor recently closed a deal with a Chinese firm under US sanctions.
Lukoil in talks with international oil players to sell stake in Venezuelan gas project
Russia's No. 2 oil producer Lukoil is looking to put up for sale its 20% stake in a Russian consortium developing a large oil project in Venezuela. Lukoil is in talks with international players after Rosneft offered a price lower than what Lukoil had asked.
Chevron's USD6.4 billion gas project in China faces another setback
Seven years after petroleum companies Chevron Corp and PetroChina entered into a joint venture agreement, the USD6.4 billion Chuandongbei gas project faces further delay. It is now expected to deliver gas in the second half of next year.
China WindPower secures USD81 million funding from China Development Bank
China Development Bank Corp. has committed CNY490 million (USD81 million) to clean-energy operator China WindPower Group's solar farm projects in two Chinese provinces. CDB has provided a total of CNY1.23 billion to China WindPower's previous projects.
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China's central bank the People's Bank of China (PBOC) stressed the need for its domestic banks to avoid transactions using Bitcoin and other virtual currencies and vowed that it will launch countermeasures against illegal activities using the alternative online payments.
French building materials business Materis is reportedly in an advanced stage of negotiations to sell its business unit Kerneos. Investment firm Astorg Partners will acquire Kerneos for EUR610 million.
The Chinese government on Thursday cleared the USD1.3 billion car-making joint venture between Dongfeng Motor Group and France's Renault. Under the deal, the two companies will manufacture 150,000 multi-purpose vehicles annually.
A source told Reuters that Qinhuangdao Port Co is going to be setting the price of its planned initial public offering at HKD 5.25 per share, which is the bottom of its indicative range.
China Mobile Ltd. has reportedly entered a deal with Cupertino-based tech giant Apple Inc. to offer iPhones to its more than 700 million subscribers. China Mobile earlier this week received its 4G license from the Chinese government.
China saw 1015 venture capital/private equity (VC/PE) investment deals clinched from January to November with a disclosed value of 72.66 billion US dollars
A report from the Straits Times debunked the perception that Chinese firms were facing growing hurdles in the US, citing data that China's investments in the US had nearly tripled this year.
China Cinda Asset Management Co Ltd, the country's biggest bad debt manager, is set to raise $2.5 billion after pricing its Hong Kong IPO at the top of the marketing range, a source with direct knowledge of the plans said on Thursday.
According to Tingyi Holding Corp Chief Financial Officer Frank Lin, his company could form more corporate alliances or strategic purchases next year in mainland China.
