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Investment News 08/2007



FACTBOX-Government of Singapore Investment Corporation (Reuters via Yahoo! Asia News)
SINGAPORE, Aug 1 (Reuters) - The Government of Singapore Investment Corp. (GIC) manages the bulk of the country's foreign currency reserves, investing more than US$100 billion abroad in what it calls "longer-term and high-yielding assets".
Australian Ethical Investment Releases Full Year Profit Expectation (AEF.AX, 00744958, 20070801) (Aspect Huntley via Yahoo!7 Finance)
Australian Ethical Investment announced that management accounts for June 2007 have now firmed and AEI's expectation is that profit for the year to 30 June 2007 will be approximately $1.8m, or approximately 33% above that recorded for the previous corresponding period. This expectation is based on unaudited and draft management accounts to end June 2007. The increase in profit expectation results ...
BNP Paribas Second-Quarter Profit Climbs on Investment Banking (Bloomberg.com)
Aug. 1 (Bloomberg) -- BNP Paribas SA, France's biggest bank by market value, said profit rose 20 percent in the second quarter on higher investment bank earnings.
BNP Paribas Profit Climbs 20% on Investment Banking (Update1) (Bloomberg.com)
Aug. 1 (Bloomberg) -- BNP Paribas SA, France's biggest bank by market value, said profit rose 20 percent in the second quarter on higher investment banking earnings.
Investment goal-setting workshop begins Aug. 8 (Florida Today)
Edward Jones financial adviser to host investment workshop beginning Aug. 8.
HCM City plans VND47.5bil for investment promotion (vietnam net)
VietNamNet Bridge – HCMC authorities have approved a program for investment, trade, and tourism promotion worth some VND47.5bil, according to the city's website.
Financial News Presents The World Property & Investment Expo (Asia Pulse via Yahoo!7 News)
(Full text of a statement. Contact details below.) The Financial News Presents 'The World Property & Investment Expo 2007' September 14-16, 2007, KINTEX, South Korea SEOUL, South Korea--(BUSINESS WIRE)--July 31, 2007--The Financial News, 'First-Class' economic daily in Korea, and Rootiz Korea, the Leader in a real estate consulting firm & real estate portal service in South Korea, announced today ...
Asian Investment, Climate Top APEC Agenda (AP via Yahoo! Finance)
Building investment in east Asia and securing a steady energy supply without increasing the risk of climate change will top the agenda at this week's gathering of 21 Asia-Pacific finance ministers, the meeting's chairman said Wednesday.
Nikko AM Appoints Soo Nam Ng as Chief Investment Officer at its Singapore Subsidiary (FinanzNachrichten)
Nikko ( Nachrichten ) Asset Management Co., Ltd. (Nikko AM) (Timothy F. McCarthy, Chairman and CEO) today announces the appointment of Mr. Soo Nam Ng as Chief Investment Officer of Nikko Asset Management Singapore Limited (NAMS), a Singapore-based subsidiary of Nikko AM. In this role, Mr. Ng will be responsible for the development of Nikko AM group ' s investment management capability in Asia ...
China warns firms off illegal stock investment (Reuters via Yahoo! Asia News)
BEIJING, Aug 1 (Reuters) - China on Wednesday issued a fresh warning to state-owned enterprises not to use bank loans for illicit investment in shares and property.
Asian Investment, Climate on APEC Agenda (AP via Yahoo! Finance)
Building investment in east Asia and securing a steady energy supply without worsening climate change will top the agenda at this week's gathering of 21 Asia-Pacific finance ministers, the meeting's chairman said Wednesday.
JETRO Announces 6th US-Japan Investment Initiative Seminar to be Held in Osaka September 12th (JCN Newswire via Yahoo!7 Finance)
Tokyo, Japan, Aug 1, 2007 - (JCN Newswire) - The 6th US-Japan Investment Initiative Seminar will be held in Osaka on September 12th, 2007, following the close of the 39th Annual Joint Meeting of the Japan-Midwest US Association in Tokyo (September 9th to 11th).
S&P warns of rising number of sub-investment grade firms (Channel NewsAsia)
SINGAPORE : Ratings agency Standard & Poor's (S&P) warned that there's a rising number of Asian companies that are below investment grade. It said investors need to price in the risks associated with such lower-rated firms.
CHIP Reit Sold to Investment Group in C$1.2 Billion Transaction (Bloomberg.com)
Aug. 1 (Bloomberg) -- Canadian Hotel Income Properties Real Estate Investment Trust, which owns 32 hotels, said it agreed to be bought by a British Columbia investment group for C$1.2 billion ($1.1 billion) including debt.
CHIP REIT to be acquired by B.C. Investment Management Corp. in $1.2B deal (Canadian Business)
VANCOUVER (CP) - British Columbia Investment Management Corp. has struck a $1.2-billion deal to acquire Canadian Hotel Income Properties Real Estate Investment Trust (TSX:HOT.UN), offering $19.10 per unit.
CHIP REIT to be acquired investment group in $1.2-billion deal (The Globe and Mail)
British Columbia Investment Management Corp.
MGIC Investment Continues Down Trend (Nasdaq)
(RTTNews) - MGIC Investment (MTG) is falling Wednesday, continuing its down trend that has controlled the stock since mid-July. At 10:20 am EST, the stock was trading at $34.35, a loss of $4.31 on the day.
Canadian Hotel Signs Agreement To Be Bought By British Columbia Investment Management For Nearly $1.2 Bln - Quick Facts (Nasdaq)
(RTTNews) - Canadian Hotel Income Properties Real Estate Investment Trust (HOT-DBA.TO) on Wednesday said its board of trustees signed a support agreement in favour of a cash takeover offer of $19.10 per unit by British Columbia Investment Management Corporation.
CHIP REIT to be acquired by B.C. Investment Management Corp. in $1.2B deal (Canadian Business)
August 1, 2007 - 11:07 a.m. VANCOUVER (CP) - British Columbia Investment Management Corp. has struck a $1.2-billion deal to acquire Canadian Hotel Income Properties Real Estate Investment Trust (TSX:HOT.UN), continuing a spate of takeovers in the Canadian hotel and real estate trust sector.
Rice: Mideast arms package an investment (UPI)
U.S. Secretary of State Condoleezza Rice told Saudi Arabia's foreign minister in Jeddah on Wednesday a $20 billion Middle East arms sale was an investment.
Stocks remain a strong investment opportunity, analyst says (Market Watch)
BOSTON (MarketWatch) -- David Brady of Brady Investment Counsel in Chicago says that despite the volatile down days the stock market lived through a week ago -- and which it may see again -- stocks remain a strong investment opportunity.
Telecom's rivals face investment struggle (The New Zealand Herald)
Telecom's rivals could struggle to make their broadband investment profitable, even though the price they will pay to use the local loop is lower than expected, analysts say.
'Wall of worry' slams investment banks' stocks (USA Today)
Concern over the fate of two tattered Bear Stearns (BSC) hedge funds continued to cast a shadow over the stocks of Wall Street's biggest investment banks Wednesday.
Investment firms facing skills shortage (AAP via Yahoo!Xtra News)
A lack of quality personnel looms as the main challenge to investment companies expecting further market growth in the coming years, a survey of CEOs has found.
INVESTMENT GROWTH SPEEDS IN CHINA'S ELECTRONICS IT INDUSTRY (Asia Pulse via Yahoo!7 Finance)
Statistics The growth of fixed assets investment in China's electronics and IT industry accelerated in the first half of 2007 but still lower than the average of manufacturing industries in the country.
Investment Growth Speeds In China's Electronics IT Industry (Asia Pulse via Yahoo!7 News)
The growth of fixed assets investment in China's electronics and IT industry accelerated in the first half of 2007 but still lower than the average of manufacturing industries in the country.
Ukraine boosts investment in energy (RosBusinessConsulting)
RBC, 02.08.2007, Moscow 09:59:42. Ukraine increased capital investment in the fuel and energy complex by 14 percent to $500m in the first half of 2007 compared to the same period a year earlier, according to Ukrainian Fuel and Energy Minister Yury Boyko.
Former Dell CEO is named investment adviser at TPG (Deseret Morning News)
Deposed Dell Inc. Chief Executive Kevin Rollins has found a new home at private-equity giant TPG Capital, formerly known as Texas Pacific Group, serving as a senior adviser on global investment strategies in the technology sector.
Bear Stearns Hires New Head 0f Investment Banking (Nasdaq)
TOKYO -(Dow Jones)- Bear Stearns Japan Ltd. said Thursday it has hired former Mizuho Securities banker Haruhiko Masuda as head of its Japanese investment banking operations.
Arroyo forms task force vs investment scams (ABS-CBNNEWS.com)
President Arroyo on Thursday ordered the creation of a task force to prevent the proliferation of illegal network investment schemes in the country. Mrs. Arroyo created the Investor Protection Task Force through Administrative Order No. 185.
Does Your Investment Manager Measure Up? (Investopedia)
Picture yourself at a fancy party. There is a group of high-powered professionals is in the corner guffawing and comparing the performance of their investment managers . Strange, unfamiliar terms drift through the air: Sharpe ratio, alpha, r-squared, down-market capture ratio ...
Credit Suisse, Barclays lifted by investment bank profits (Market Watch)
LONDON (MarketWatch) -- European banking giants Credit Suisse and Barclays on Thursday both reported record investment banking performances, buoyed by stronger equity and fixed income trading, with the pair also playing down exposure to the subprime markets.
Sabah's Rich Urged To Diversify Investment Portfolio (Bernama)
KOTA KINABALU, August 2 (Bernama) -- Sabah's affluent investors have been urged to diversify their investment portfolio and move away from their conservative investment trends.
Russia reports higher fixed investment (RosBusinessConsulting)
RBC, 02.08.2007, Moscow 15:08:25. Russia's fixed investment grew by 27.2 percent to RUR579.8bn (approx. USD22.65bn) in June 2007 compared to the same month in 2006, the Russian Federal State Statistics Service (Rosstat) reported today.
Ahead of the Bell: Investment Banks (AP via Yahoo! Finance)
A Keefe, Bruyette & Woods analyst said Thursday the turmoil shaking the financial markets provides the opportunity to buy investment banks' stocks cheaply.
Wall Street investment banks boast strong quarterly earnings (Investment Executive)
The five largest U.S. investment banks generated strong quarterly net revenues and earnings despite adverse conditions stemming from the domestic residential mortgage market, according to a new report from Fitch Ratings.
Investment Technology Group Earnings Dip (AP via Yahoo! Finance)
Investment Technology Group Inc., a provider of technology-based trading services and transaction research, said Thursday its second-quarter earnings fell 2 percent as expenses grew.
Mercantile moves into investment banking (BizJournals)
Commercial customers of Mercantile Bank will have access to investment banking services through a newly announced partnership between Stephens Inc. and Mercantile's parent company, The South Financial Group.
Former TD Bank CEO to head inaugural board of Alberta Investment Management Corp. (Investment Executive)
Former TD Bank CEO, Charles Baillie, has been named to head the board of the Alberta government’s investment corporation, Alberta Investment Management Corp.
Investment Technology Group Earnings Dip (AP via Yahoo! Finance)
Investment Technology Group Inc., a provider of technology-based trading services and transaction research, said Thursday its second-quarter earnings fell 2 percent as expenses grew.
Credit Suisse 2Q net profits driven by investment banking revenues (New Ratings)
LONDON, August 2 (newratings.com) – Switzerland-based banking company Credit Suisse Group ( CSX.FSE ) Thursday reported a 48% increase in its second quarter net profits, driven by record investment banking earnings.
Former TD Bank CEO to head inaugural board of Alberta Investment Management Corp. (Investment Executive)
Former TD Bank CEO, Charles Baillie, has been named to head the board of the Alberta government’s investment corporation, Alberta Investment Management Corp.
India, Pak should move forward to investment: Jairam Ramesh (ANI via Yahoo! India News)
New Delhi, Aug 2 (ANI): Union Minister of State for Commerce and Industry Jairam Ramesh today said that India and Pakistan should take next leap to investment trade. "I believe that now from trade in goods and services we should take the next leap to investment," Ramesh said after meeting visiting Pakistani delegation. "We discussed possibilities of how to stimulate bilateral ...
Kenya: I&M Bank Sells 12 Percent Stake to Investment Groups (AllAfrica.com)
Investment and Mortgages (I&M) Bank has sold a 12 per cent stake to two leading European development institutions in a deal that will boost its global profile and ease transactions on the international scene.
US railroads seek investment tax credit for track (Reuters via Yahoo! Asia News)
CHICAGO, Aug 2 (Reuters) - U.S. railroads are lobbying Congress to back tax-credit legislation aimed at boosting rail investment, citing the need for an injection of cash to help lay fresh track.
US railroads seek investment tax credit for track (Reuters via Yahoo! Singapore News)
CHICAGO, Aug 2 - U.S. railroads are lobbying Congress to back tax-credit legislation aimed at boosting rail investment, citing the need for an injection of cash to help lay fresh track.
Mercantile moves into investment banking (Orlando Business Journal)
Commercial customers of Orlando-based Mercantile Bank will have access to investment banking services through a newly announced partnership between Stephens Inc. and Mercantile's parent company, The South Financial Group.
Cash in on Fortress' Investment Prowess (TheStreet.com)
Fortress Investment Group is placing its bets on these stocks.
Australia and Japan Agree on New Tax Treaty to Boost Investment (Bloomberg.com)
Aug. 3 (Bloomberg) -- Australia and Japan have agreed to adopt a new income tax treaty aimed at boosting investment between the nations, said Treasurer Peter Costello and Finance Minister Koji Omi.
Montgomery McCracken Acquires Investment Group (Law.com)
Montgomery, McCracken, Walker & Rhoads has created an investment management practice by acquiring the Corsell Law Group in Philadelphia. The creation of the practice wasn't high on any management priority list, but Chairman Stephen Madva says the timing couldn't have been better: "With more and more money in private equity offerings, it could not be more ... current." Laura Corsell says leaving ...