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Investment News 11/2007



Japan Merger Advisor GCA to Buy U.S. Investment Bank Savvian (Bloomberg.com)
Nov. 1 (Bloomberg) -- GCA Holdings Corp., Japan's No. 2 mergers adviser this year, will acquire U.S. investment bank Savvian LLC in an all-shares transaction as it seeks to expand into international advisory work.
Southern Economic Zone calls for more foreign investment (Vietnam Net)
VietNamNet Bridge – The Southern Key Economic Zone needs to mobilise US$10.3bil in foreign direct investment in the 2006-10 period and another $23bil for the next decade to reach its development goals, the Ministry of Planning and Investment has said.
MetLife?s Earnings Flat on Investment Losses (New York Times)
MetLife, the largest United States life insurer, said yesterday that net earnings per share were barely changed for the third quarter as it suffered investment losses, but operating net profit beat analysts? estimates.
Egypt intends to attract more Chinese investment (China Economic Net)
The Egyptian government is trying to attract more investment from China in various sectors, particularly in the field of infrastructure, Chairman of Egypt's General Authority for Investment and Free Zones (GAFI) Assem Ragab said Wednesday.
The business of bluegrass Former investment banker brings international banjo talent to Provo (Provo Daily Herald)
Alison Brown didn't get her undergrad degree from Harvard and her MBA from UCLA so she could create her own record label and start up a bluegrass band. She just wanted to be a mainstream investment banker. As most university students discover, however, plans change. After quitting the world of high finance, Brown switched to music full-time to play with renowned artists like Michelle Shocked and ...
Dubai Financial Group expands investment in southeastern Europe (MENAFN)
Dubai Financial Group expands investment in southeastern Europe
Kuwait's Global to double Turkey investment (Reuters via Yahoo! Singapore News)
ISTANBUL, Nov 1 , Kuwait's largest investment bank, will double its investment in Turkey next year from $150 million in 2007, its chairman, Maha al-Ghunaim, told reporters.
Saudi Investment Forum 2007 to be held from 24 -26 November (AME Info)
The CWC Group (CWC) and Chamber of Commerce & Industry, Eastern Province today announced that the Saudi Investment Forum 2007 - the Strategic Conference & International Exhibition - will now be held on Saturday 24th - Monday 26th November 2007 in Dammam, Saudi Arabia.
Renaissance Capital to launch three investment funds (Interfax)
MOSCOW. Nov 1 (Interfax) - Renaissance Capital will launch three new investment funds in the near future totaling a combined $350 million-$400 million.
Bank Of America Layoffs Start At Investment Bank Division (New London Day)
New York — The first round of layoffs in Bank of America Corp.'s investment banking unit is under way, with the company this week losing a number of senior executives and entire teams of traders and analysts.
U.S. banks' $75 million injection seen as a stopgap for sinking investment funds (International Herald Tribune)
Market participants say the structured investment vehicles that helped fuel the Wall Street loan-packaging boom hinged on confidence in the quality of the $400 billion in securities they bought and on easy credit from investors. But that trust has now been shattered and most of the investors have fled.
Africa: World Bank, AfDB Announce $55b Investment in Africa (AllAfrica.com)
The Connect Africa Summit ended yesterday in Rwanda with World Bank, European Commission and African Development Bank (AfDB) announcing investment commitments amounting to over $55 billion, with the information and communication technology (ICT) sector taking the lead.
China hopes Russia will improve its investment climate - Wen Jiabao (Interfax)
BEIJING. Nov 1 (Interfax) - Chinese State Council Premier Wen Jiabao has said he hopes that Russia will take measures to improve its investment climate and protect the legitimate rights of Chinese companies in Russia.
Credit Suisse writedowns hit investment bank (Reuters via Yahoo! News)
Credit Suisse said third-quarter profit at its investment bank was all but wiped out by writedowns, leading to a 31 percent fall in group net earnings to 1.3 billion Swiss francs ($1.12 billion).
Hub Group, Inc. to Participate in Stephens Fall Investment Conference on November 15, 2007 (ThomasNet)
DOWNERS GROVE, Ill., Oct. 25 /-- Hub Group, Inc. (NASDAQ:HUBG) announced today it will participate in the Stephens Inc. Fall Investment Conference on Thursday, November 15, 2007. Mark A. Yeager, Hub Group President and Chief Operating Officer and Terri A. Pizzuto, Hub Group Executive Vice President, Chief Financial Officer and Treasurer will present a business overview and highlights of third ...
Cisco to double investment in China to $16 billion (Market Watch)
WASHINGTON (MarketWatch) - Cisco Systems Inc. said Thursday it plans to double its investment in China to $16 billion over the next five years.
WallSt.net Updates Investment Community Through All-New Interview With Startech Environmental (FinanzNachrichten)
NEW YORK, Nov. 1 /PRNewswire-FirstCall/ -- On October 31, Joseph F. Longo, Chief Executive Officer of Startech Environmental Corporation ( Nachrichten ) (BULLETIN BOARD: STHK) ( (link) .
EMC to double China investment (bizjournals.com via Yahoo! Finance)
Storage giant EMC Corp. is doubling its investment in operations in China with a new research and development center and several new offices, the company announced Thursday.
Cisco Announces $16 Billion Investment in China (PC World via Yahoo! News)
Cisco Systems Chairman and CEO John Chambers announced on Thursday US$16 billion in new investments in China, including manufacturing, investment and educational programs.
EMC to Double China Investment (AP via Yahoo! Finance)
Data storage vendor EMC Corp. said Thursday it would double its investment in China to $1 billion over the next five years.
EMC Corp. to boost China investment by another $500 million (WPRI 12 Providence)
HOPKINTON, Mass. (AP) - EMC is doubling its investment in China to $1 billion over the next five years.
Head of investment bank named to MCG Capital's board (bizjournals.com via Yahoo! Finance)
MCG Capital Corp. has expanded its board to nine members, adding the president of a Richmond investment banking firm.
Credit Suisse writedowns hit investment bank (Washington Post)
ZURICH (Reuters) - Credit Suisse (CSGN.VX) said third-quarter profit at its investment bank was all but wiped out by writedowns, leading to a 31 percent fall in group net earnings to 1.3 billion Swiss francs ($1.12 billion).
Fla. Calls for State Investment Review (AP via Yahoo! Finance)
Florida Chief Financial Officer Alex Sink on Thursday directed state investment managers to go carefully through the state's holdings to assess whether Florida's portfolio has gotten too risky with changes in the market.
Media investment-banking head to leave BofA (bizjournals.com via Yahoo! Finance)
Stephen Ketchum, head of media investment-banking at Bank of America Corp., is leaving the company.
GCA of Japan acquires U.S. investment bank (International Herald Tribune)
GCA Holdings, the second-ranked adviser on Japanese mergers this year, said Thursday that it was acquiring the U.S. investment bank Savvian for about ¥90 billion, or $780 million.
U.S. spending on roads and bridges seen as investment opportunity (International Herald Tribune)
Ron Baron, the investor whose stakes in casinos have helped make his Baron Partners Fund the top performer among its peers, says U.S. spending on bridges and roads is creating some of the best investment opportunities in the world.
Lewis set to affirm investment banking (The Charlotte Observer)
Bank of America Corp. chairman and chief executive Ken Lewis in a speech Thursday night was expected to affirm the nation's No. 2 bank by assets is in the investment banking business "for our clients and our shareholders," according to prepared remarks obtained by the Observer.The Charlotte bank launched a review of its corporate and investment banking unit after it took the blame for a 32 ...
Eskom's load-shedding threatens investment (SABC News)
Economists have warned that power utility Eskom's current load-shedding could have a negative impact on investment and the country's status as an investment haven.
Mexico govt says Telefonica's investment in GTM is lawful (FinanzNachrichten)
MADRID (Thomson Financial) - Telefonica SA ( Nachrichten / Aktienkurs ) 's investment in Grupo de Telecomunicaciones Mexicanas (GTM) is in accordance with the law, Mexican newspaper Milenio reported on its webpage, citing the country's Economy Minister Carlos Arce.
Mortgage woes slash profit at investment bank unit (Toronto Star)
ZURICH–Crédit Suisse said third-quarter profit at its investment bank was all but wiped out by writedowns, leading to a 31 per cent fall in group net earnings to 1.3 billion Swiss francs, or $1.06 billion (Canadian).
Cisco to expand investment to 16 bln USD in China (Eastday.com)
Cisco will expand its investment in China to US$16 billion during the following five years, according to a post on Cisco's website yesterday. The multi-year investment includes materials procurement, venture capital, vocational education and other sectors.
Investment funds seen booming in Vietnam (Vietnam Net)
VietNamNet Bridge – Vietnam is expected to see a boom in investment funds in the time to come as the country's stock market has become increasingly attractive to investors, experts said at the "Funds World Vietnam 2007" conference beginning here on Wednesday.
Namibia: Investment Indaba a Resounding Success (AllAfrica.com)
The usual platitudes of "foreign direct investment", "private-public partnerships", and "common vision" gained new meaning during the past two days when more than 1000 foreign and local captains of industry along with senior Government officials descended on the capital for a two-day International Investment Conference.
Japan minister warns that higher oil prices, lower housing investment could slow growth (AP via Yahoo! Singapore News)
Economy Minister Hiroko Ota warned Friday that declining housing investment and high oil prices could put pressure on Japan's economic growth.
Apartment Investment 3Q FFO Improves (AP via Yahoo! Finance)
Real estate investment trust Apartment Investment and Management Co. said Friday its third-quarter funds from operations rose, in part on increased occupancy and higher rents.
Apartment Investment Lifts '07 Outlook (AP via Yahoo! Finance)
Apartment Investment and Management Co. on Friday raised the low end of its full-year funds from operations outlook, as third-quarter FFO improved -- in part on increased occupancy and higher rents.
Apartment Investment 3Q FFO improves (FinanzNachrichten)
DENVER (AP) - Real estate investment trust Apartment Investment ( Nachrichten ) and Management Co. said Friday its third-quarter funds from operations rose, in part on increased occupancy and higher rents.
Investment Banks to Take More Writedowns (AP via Yahoo! Finance)
A key Wall Street analyst expects investment banks to take at least an additional $10 billion in writedowns in the current quarter due to the languishing credit markets.
Investment Banks to Take More Writedowns (AP via Yahoo! Finance)
The fallout from the credit crisis on Wall Street worsened Friday, after a key analyst said new writedowns by investment banks for bad debt could surpass $10 billion in the current quarter.
Ethiopia: Flourishing Indian Investment Pegged At $464 Million (AllAfrica.com)
India is rapidly emerging as Ethiopia's important trade partner with total investment USD $ 464 million till July 2007.
Webcast Alert: Oscient Pharmaceuticals to Present at the 9th Annual MASS Opportunities Investment Conference (FinanzNachrichten)
Oscient Pharmaceuticals ( Nachrichten ) Corporation (NASDAQ:OSCI) will participate in the Massachusetts Biotechnology Council ' s 9 th Annual MASS Opportunities Investment Conference on Thursday, November 8, 2007 in Boston.
ots.CorporateNews: Eurocastle Investment Limited / Eurocastle to Announce Third Quarter ... (Finanzen.net)
Guernsey (ots) - Eurocastle Investment Limited (Frankfurt Stock Exchange: EUI1 and Euronext Amsterdam: ECT) today announces that it will release its financial results for the third quarter ended 30 September 2007 on Thursday, 15 November 2007 before ...
Investment banks could take another $10 billion in writedowns (Atlanta Journal-Constitution)
A key Wall Street analyst expects investment banks to take at least an additional $10 billion in writedowns in the current quarter due to the languishing credit markets. Deutsche Bank analyst Mike Mayo said late Thursday night both Citigroup Inc. and Merrill Lynch & Co. will likely have to take an additional $4 billion in writedowns in the fourth quarter. The rest of the writedowns are expected ...
Writedowns by investment banks for bad debt could surpass $10 billion (International Herald Tribune)
The fallout from the credit crisis on Wall Street worsened Friday, after a key analyst said new writedowns by investment banks for bad debt could surpass $10 billion in the current quarter.
ots.CorporateNews: Eurocastle Investment Limited / Eurocastle to Announce Third Quarter ... (Börse Online)
DJ ots.CorporateNews: Eurocastle Investment Limited / Eurocastle to Announce Third Quarter ...
ots.CorporateNews: Eurocastle Investment Limited / Eurocastle to Announce Third Quarter ... (FinanzNachrichten)
DJ ots.CorporateNews: Eurocastle Investment Limited ( Nachrichten ) / Eurocastle to Announce Third Quarter ...
Ex-Citigroup Banker Carpenter Starts Investment Firm (Update1) (Bloomberg.com)
Nov. 2 (Bloomberg) -- Michael Carpenter, the former Citigroup Inc. investment-banking chief, is raising $1 billion to buy stakes in hedge-fund and private-equity firms.
Anbar officials call for continued U.S. support, private oil investment (International Herald Tribune)
Sunni officials from Iraq's Anbar province are asking for money to rebuild battle-damaged cities, help expanding the police force and private U.S. investment in its oil reserves.
Berkshire Profit Climbs 64% on PetroChina Investment (Update1) (Bloomberg.com)
Nov. 2 (Bloomberg) -- Billionaire investor Warren Buffett's Berkshire Hathaway Inc. said third-quarter profit surged 64 percent after gains from its investment in PetroChina Co.