3i and Allianz Capital Partners considered putting the auction for Scandlines on hold after failing to agree on a price with the remaining bidder.
Sovereign wealth funds
NY DFS to Foreign Reinsurers: Are You Linked to Iran?
NY DFS sent a letter to foreign reinsurers asking if they were linked with Iran. The New York's Department of Financial Services sent a letter, dated June 25, to 20 non-US reinsurers of any business transactions they had with entities linked to Iran.
Lloyds Sells Stocks Amidst Talk of Investor Boycott
Lloyds planned to sell its stocks amidst talk of investor boycott. Lloyds Bank planned to sell 39% stake, which is a step towards its privatisation. However, talks of boycott among investors could have a negative effect on how the sale proceeds.
South Korea: $7.3 Billion Fighter Jet Bidding Temporarily Suspended
South Korea is temporarily suspending $7.3 billion fighter jet bidding South Korea announced that they are temporarily suspending the US$7. 3 fighter jet bidding initiated by the South Korea's Defense Acquisition Program Administration (DAPA).
CFTC Meets for Discussion of New Rule on Swaps
The CFTC would be conducting a formal meeting to discuss its new rule on swaps. The US Commodity Futures Trading Commission (CFTC) announced for a formal meeting on July 12 to discuss how new rules apply abroad.
Latest News
Banks computed risks differently, according to Basel Committee. The Basel Committee said that results of its study show variations in how 100 banks compute risk.
The International Monetary Fund approved Pakistan's US$5.3 billion loan to help the nation stabilize its struggling economy.
Higher US bond yields were good news for investors. According to Mike Howell of CrossBorder Capital's managing director, "A steepening yield curve in almost every occasion is a response to improved economic times.
The European Union and China hope to defuse conflicts by negotiating about a solar panel deal. On Friday, the European Union and China were finally moving in the direction of a new contract.
The Swedish government declared a deficit in June. The Swedish government declared a deficit in government payments amounting to SEK6. 4 billion in June, under SEK28.
Money influx hurt China money market rates. Money market rates fell after the Chinese government announced injection of funds into an interbank market system.
John Garland created an 888 Fund which aims to attract the wealthiest investors in Asia. (Photo : Reuters)This is an Australian dollar. John Garland, a businessman from Perth, Australia, formed an investment fund in an attempt to attract Asia's wealthiest investors to the Australian market.
An estimated 84 megawatts of power will be generated after a pipeline investment is made in the Gulf region.
Temasek, a Singaporean sovereign wealth fund, posted a portfolio gain citing good investments as reason.
