Former Japanese Ministry of Finance official Eisuke Sakakibara said the yen may weaken further as the government pension fund will follow the proposal to invest more of its holdings overseas.
Government
Detroit bankruptcy ruling may be good news for wary market
A federal judge's ruling Tuesday that Detroit is eligible for bankruptcy protection offers municipal bond investors a dose of clarity that could be welcome news at the end of a rough year for the U.S. muni debt market.
Sources say USD53 billion economic stimulus package is being prepared by Japan this week
The purportedly massive USD53 billion economic stimulus package by the government of Japan was to aid the country from its high tax rates imposed in April this year, said government ministers.
Portugal raises EUR578M in first IPO of its stake in postal service
Portugal is raising EUR578 million (USD783 million) in the initial public offering of its postal service CTT-Correios de Portugal SA. The Portuguese government is divesting its 70% stake in the mail service.
Illinois to sell USD350 million in general obligation bonds after pension reform bill vote
Illinois intends to sell USD350 million in general obligation bonds in a sale initially slated on December 12. Illinois legislators are set to vote on a pension reform bill that could save the state around USD160 billion in 30 years.
Latest News
New rules set forth by the UK Pensions Regulator will enable companies to make their businesses more sustainable while still being able to give their employees their retirement benefits.
Australian Prime Minister Tony Abbott said today the government may purchase a stake in Qantas Airways to help the troubled carrier compete with better-financed rivals.
China-based developer Guangzhou R&F Properties Co will be making its first acquisition abroad, paying USD 1.4 billion to the Sultan of Johor for six sites in Johor Bahru in Malaysia.
According to a report on The Telegraph, British Chancellor George Osborne is said to be thinking of modifying the rules in the country's Enterprise Investment Scheme or EIS to boost investment in the venture capital industry.
After a 14-month freeze on initial public offerings, the China Securities Regulatory Commission said it expects a resumption of public listings by January next year.
Ukraine can get cheaper natural gas if it joins an economic bloc led by Moscow, Russian First Deputy Prime Minister Igor Shuvalov told Bloomberg News.
Italian state lender Cassa Depositi e Prestiti (CDP) expects to cash in around 3 billion euros ($4.1 billion) by June 2014 from the sale of minority stakes in gas and power grid networks, two sources with knowledge of the matter said on Friday.
Sources who were familiar with the deal said the government of Turkey and the regional government of Iraqi Kurdistan inked a deal that would allow building of new infrastructure and cooperation in existing oil and gas resources to turn the latter into an oil and gas powerhouse.
According to a report on The New York Times' The Dealbook, some of the largest public pension funds in the US were following the footsteps of activist investors like Carl Icahn, William Ackman and Daniel Loeb.
