Alibaba Group has approached Singaporean sovereign wealth fund Temasek in a bid to obtain financing to purchase a 40% stake in Yahoo (YHOO.NASDAQ), Bloomberg reported citing unnamed sources familiar with the situation. One source claimed that Temasek was not interested in owning stake in the US search engine, but could offer financing in exchange for […]
Category: Investment
China Petrochemical Corp (also known as Sinopec; SNP.NYSE, SNP.LSE, 600028.SH, 0386.HKG) announced that it would add to its oil and gas reserve assets in North America by acquiring Canada-based Daylight Energy (DAY.TSX) for US$2.11 billion, Bloomberg reported. The offer values Daylight at more than twice its market capitalization as of Friday. Daylight’s stock has fallen […]
Chinese internet stocks listed in New York plunged after a senior US securities regulator said the Justice Department is probing accounting irregularities at firms operating out of the home country, Bloomberg reported. Sina dropped 9.7%, Baidu, China’s largest search engine, fell 9.2%, Youku.com, China’s biggest online-video website sank 18% after Securities and Exchange Commission Enforcement […]
DST Global Solutions and Silver Lake are among firms that agreed to invest US$1.6 billion in China’s Alibaba Group, valuing the country’s e-commerce giant at US$32 billion, state media reported. The statement said that others participating in the deal include Chinese private equity firm Yunfeng Capitaland and Singaporean sovereign wealth fund Temasek Holdings. “This liquidity program […]
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Hot money inflows surge in August
Data from China’s central bank showed that turmoil in global financial markets may be driving speculative capital into the country, potentially complicating Beijing’s efforts to tame inflation and limit the risk of a real estate bubble, Bloomberg reported. Financial institutions’ renminbi positions, accumulated from the purchase of foreign exchange by the central bank, grew by […]