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’Pressure mounts for UK and EU rate cuts
British and EU monetary policymakers are facing mounting pressure to slash interest rates to historic lows. The BOE’s monetary policy committee and the ECB’s governing council meet this week amid an unprecedented clamour for rate cuts.
Emerging (markets) squeeze
Speaking of emerging market economies in the 1990s, we may be having a repeat.
This is from Sean Corrigan, chief investment strategist at Diapason Commodities Management.
Public sector surpluses
IMF warns emerging markets on inflation
Emerging economies must make the fight against inflation their “top priority”, the International Monetary Fund said yesterday as it sharply raised its forecast for price increases in the developing world.
Into India – and out of China
While Chinese companies seem intent on bringing their influence to bear globally, the traffic for their Bric counterparts in India is going in the other direction.
Chinese banks in particular are now positively forthright in their attempts to make their mark in Africa,
ING to target Indian wealth management
ING is looking to increase its Indian banking unit by 50 branches this year as it seeks to expand into the country’s financial and wealth management sectors. ING Vysya Bank, 44 per cent owned by the Netherlands-based financial services group,
India becomes Merrill’s top Asian market
India has for the first time become the biggest revenue contributor among Asia’s emerging economies for Merrill Lynch, highlighting the country’s increasing importance for global investment banks. The trend was driven by a record flow of Indian share offerings and large M&A deals this year,
India scores in private equity, but elsewhere progress lags
As it approaches a landmark birthday, India has taken over its larger neighbour China in terms of private equity investment for the first time, according to a story in the Economic Times.
Data from the Centre for Asia Private Equity Research shows that the nation attracted $3.7bn in private equity investment in the first six months of the year,
Banks reap Indian deal crop
Investment banks operating in India have earned nearly as much in the first half of 2007 as they made throughout last year from underwriting stock offerings and advising on takeovers. In figures that explain a rush by the banks to boost their presence in India,
3i in scheme to tap India’s foreign reserves
India’s growing currency reserves could be used to finance local infrastructure projects if a scheme being set up with 3i, the UK-based private equity group, receives central bank approval. Last month,
Are Asian markets turning bearish? Hedgies hope so
Managers of Asia-focused hedge funds are revving up shorting strategies in the hope that volatility will return to the markets, reports AsianInvestor.net.
“I think the February sell-off marked the end of the bull market and was the beginning of a bear market,”
India to relax hedge fund restrictions
India plans to selectively allow hedge funds to invest in the markets, Forbes reported on Thursday.
About 30 per cent of foreign institutional investment in the Indian market is estimated to come from hedge funds who invest through offshore participatory notes,
India considering regulations for buyout groups
Private equity funds may come under the regulatory scanner in India, reports the Business Standard.
Both Securities and Exchange Board of India (SEBI) and Reserve Bank of India have formed study groups to analyse the structure and impact of such funds on the investors,
Reverse colonialisation
Indian investment into the UK is poised to outstrip British investment in the sub-continent, reversing the flow of capital for the first time since the days of the Raj, the Sunday Telegraph reported.
India is presently ranked third,
Private equity in India – influx or exodus?
Even as private equity investment into India surges, a new report suggests the share of pe investment into listed companies in India declined significantly last year [via the Business Standard].
Buyout groups’ investments into publicly traded Indian companies,
Parry follows ITV bid with India fund launch
Roger Parry, the media executive who tried to mount a bid for ITV last year, is planning to launch a fund to invest in India’s media and entertainment sectors, promising rare exposure to the entrepreneurial companies in the country’s rapidly evolving media markets. The India Media Fund is expected to announce plans for a $150m-$200m fundraising on Aim as early as this week,
Global funds driving Asian retailers’ M&A
Global funds are chasing Asian consumer plays in an attempt to capitalise on an expected wave of consolidation in a crowded industry, Reuters reports.
Retailers are in vogue in Asia, and high-profile buyout players such as KKR have been drawn to firms’ strong cash flows,
Morgan Stanley to separate Indian JV
Morgan Stanley has agreed with JM Financial to wind up their Indian joint venture with the two parties agreeing to take individual ownership of the entity’s various assets, the US investment bank said on Thursday,
Blackstone finds Indian investment challenging
Blackstone is “inexperienced” in India, and has missed out on solid investment opportunities in the country, Akhil Gupta, chairman and managing director of Blackstone India, said in a Q&A with India’s Business Standard newspaper.
Indian realty firms eye PE as bank funds dry up
Small and medium-sized realty firms in India are scouting for private equity funds to finance forthcoming projects, as bank funds have dried up following concerns over high credit growth to the sector,
Carrefour poised to sign Indian tie-up
Carrefour is poised to announce a joint venture with Wadia Group, the Indian industrial conglomerates, as the French retailer joins the race among foreign groups to gain a foothold in one of Asia’s biggest retail markets.
Aviva plans greater exposure to India
Aviva is in talks to increase its stake in an Indian joint venture as the country’s government prepares to relax restrictions on foreign investment in the sector, the Sunday Telegraph reports. The company,
Hindalco set to buy Novelis for $6bn
India’s Aditya Birla Group has become the second of the country’s large industrial conglomerates to attempt a multi-billion dollar foreign takeover after agreeing on Sunday to buy Novelis of Canada for $6bn.
The Empire Strikes Back
Think India, and you might come up with IT, Corus, call centres and a recent S&P upgrade to regain full investment-grade status. But if you look closer, a more interesting fact emerges – India is now ranked third,
India wins back full credit grade rating
India finally regained full investment-grade status on Tuesday after a hiatus of more than 15 years, as Standard & Poor’s followed the lead of Moody’s and Fitch in removing the speculative tag from its sovereign credit rating.
Blackstone invests $275m in India’s UEL Media
Blackstone has made its first foray into the Indian media sector, investing $275m in media conglomerate Ushodaya Enterprises for an undisclosed stake, UEL said in a joint statement with the buyout group on Sunday.
Indian market correction looms
India’s real estate and stock markets are heading for a correction, with a liquidity crunch in the banking sector likely to accelerate the trend, according to one of the country’s most influential bankers. Indian stock valuations are inflated and property prices in many areas are beginning to exceed what people can afford to pay,