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.
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.
KOLKATA: Multilateral financier International Finance Corporation (IFC) and the Singapore government-backed GIC are likely to raise their investments in Bandhan after it got the final banking licence by the Reserve Bank of India. The global investors may pump in fresh Rs 500 crore equity, making it their second round of stake buy in the company this fiscal. IFC, GIC and state-run Small Industries Development Bank of India invested Rs 1,020 crore in the Kolkatabased small lender in May.
KOLKATA: Bandhan Financial Services has raised Rs 1020 crore equity from International Finance Corporation, Singapore's sovereign wealth fund GIC and Small Industries Development Bank of India, its chairman and managing director Chandra Shekhar Ghosh told ET Monday. The fund raising was the last hurdle before getting the final banking license from Reserve Bank of India, Ghosh said. "We have received the fund. We now expect RBI to issue the final license," he said. The latest equity infusion would take Bandhan's networth to Rs 2,616 crore.
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.