NEW DELHI: India's largest real estate firm DLF today said that its subsidiary DLF Home Developers has entered into a joint venture with Singapore's sovereign wealth fund GIC to invest in two upcoming projects of the company in central Delhi. GIC will invest a sum of around Rs 1,990 crore in the JV, which is expected to benefit from GIC's experience of investing in integrated developments across the globe. "We hope that this investment is a beginning of a new relationship with GIC at the project level.
The Blackstone Group L.P. (NYSE:BX) has entered into an agreement with Singapore’s sovereign-wealth fund GIC Pte. Ltd to sell the real estate-based portfolio company, called IndCor Properties. GIC will buy the industrial landlord for $8.1 billion, according to The Wall Street Journal, to make inroads in the US real estate market.
NEW DELHI: DLF, India's largest real estate developer, is close to selling a majority stake in a residential project in New Delhi to Singapore's sovereign wealth fund GIC, two people aware of the deal said. The transaction may be valued at Rs 1,500 crore- Rs 2,000 crore. The 25-acre project in the Moti Nagar area of west Delhi, to be called DLF Capital Greens 6, has secured all approvals and is likely to be launched in the next few months. The builder did not find many takers when it assessed demand for the project through local brokers some months ago, one of the persons said.
MUMBAI: As the death toll in the devastating earthquake in Nepal continues to rise, GIC Re, which is the largest re-insurer in the Himalayan nation, said the company is expecting to pay a whopping Rs 1,000-crore claim against the damages caused by this natural disaster. "My company, which is the largest reinsurer in Nepal, is preparing itself to pay around $160 million (Rs 1,000 crore) of claim out of the devastation caused by 7.9 earthquake that shook the densely-populated Kathmandu valley and the rest of the Himalayan kingdom," GIC Re chairman and managing director AK Roy told PTI.
Right now, somewhere in the world, a person can solve a Rubik's cube in less than six seconds. His name is Mats Valk. He's a Dutch 17-year-old, and he holds the current World Record for the fastest single time solving a typical Rubik's cube: 5.55 seconds. In honor of National Puzzle Day, we wanted to explore the people behind one of the world's hardest puzzles. Watch the video of Valk's winning moves below:
By Patricia Moses:
With all the volatility in the market, investors may be hesitant to reinvest in equities and/or increase their allocation to the asset class until economic data begins to show some positive signs. The problem with that approach is that the stock market usually leads economic growth by anywhere from 6-9 months, depending on which research piece you've read. So how can anyone participate in a sudden rise in equities without exposing themselves to a timing mistake of disastrous proportions?
By Parsimony Investment Research:This is a follow-up article to "Is Your Portfolio Ready For The Great Deleveraging?". In response to reader comments, we are expanding the Great Deleveraging portfolio.