BIGCAPITAL's Blog

May 7, 2011

China To Allow Next QFII Investment To Trade Stock Index Futures

Filed under: Uncategorized — bigcapital @ 5:37 pm
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China To Allow Next QFII Investment To Trade Stock Index Futures

MarketCall.net — May 07, 2011

BEIJING, — China’s securities watchdog has published draft rules that will allow approved foreign investors to trade stock index futures, the first step in opening up its local securities market.

But the Qualified Foreign Institutional Investors (QFII) will only be allowed to trade stock index futures for hedging purposes, and it will be counted as part of their existing investment quotas, according to the proposed rules published by the China Securities Regulatory Commission (CSRC) late on Friday.

China officially launched the QFII system in 2003, and Beijing had granted investment quotas worth $19.7 billion in total to 97 foreign institutions by the end of 2010 — only a tiny proportion of China’s 20 trillion yuan stock market.

CSRC has also decided to allow domestic securities brokerage firms to buy more products with their own money, a move towards deregulation that could potentially boost incomes of local securities firms.

Source : http://www.marketcall.net/

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December 2, 2010

Australia commodity index hits record high in Nov – RBA

Filed under: Uncategorized — bigcapital @ 8:31 am
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Australia commodity index hits record high in Nov – RBA

 SYDNEY, Dec 1 (Reuters) – The Reserve Bank of Australia’s (RBA) index of commodity prices rose 0.9 percent in November, from October, to reach a fresh record high in a favourable omen for export earnings.

 The index was up 44 percent in special drawing right (SDR) terms, compared to November last year. The index reading of 121.3 surpassed the August peak of 121.1.

 In Australian dollar terms the index fell by 0.5 percent in November, but was up 31 percent for the year. The index also hit a record high in U.S. dollar terms, to be up 41 percent on November last year.

 Much of the rise in the past year reflected huge price increases for iron ore and coal, Australia’s two biggest export earners. That has boosted Australia’s terms of trade, lifting profits, investment, employment and tax receipts.

– Thomson Reuters –

UBS Plans to Double Size of Its Commodities Staff

Filed under: Uncategorized — bigcapital @ 8:24 am
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UBS Plans to Double Size of Its Commodities Staff

UBS AG, Switzerland’s largest bank, plans to double its commodities team, a year after selling most of its raw-materials units to Barclays Plc.

 The expansion of the existing team of about 40 people will take place over the next 18 to 24 months, Hana Dunn, a London- based spokeswoman for the bank, said by phone today. Dylan Morgan, formerly of Goldman Sachs Group Inc., started last week as head of industrial metals and Taha Quertani, from Tudor Investment Corp., became head of agriculture, Dunn said.

The Zurich-based bank announced plans to withdraw from most commodities business in October 2008 and agreed to sell its industrial metals, oil and U.S. power and gas units to Barclays Plc three months later. UBS sought to cut investment banking risk after posting $48.6 billion in writedowns and losses related to the credit crisis.

 UBS AG, Switzerland’s largest bank, plans to double its commodities team, a year after selling most of its raw-materials units to Barclays Plc.

 The expansion of the existing team of about 40 people will take place over the next 18 to 24 months, Hana Dunn, a London- based spokeswoman for the bank, said by phone today. Dylan Morgan, formerly of Goldman Sachs Group Inc., started last week as head of industrial metals and Taha Quertani, from Tudor Investment Corp., became head of agriculture, Dunn said.

 The Zurich-based bank announced plans to withdraw from most commodities business in October 2008 and agreed to sell its industrial metals, oil and U.S. power and gas units to Barclays Plc three months later. UBS sought to cut investment banking risk after posting $48.6 billion in writedowns and losses related to the credit crisis.

– Bloomberg –

November 16, 2010

Abu Dhabi investment fund eyes European deals-paper

Filed under: Uncategorized — bigcapital @ 9:11 am
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ABU DHABI, Nov 15 (Reuters) – Abu Dhabi’s fastest growing investment fund Aabar is eyeing three European deals worth 2 billion euros ($2.74 billion) after selling its stake in Banco Santander’s Brazil unit, its chairman said in remarks published on Monday.

Aabar, which recently delisted from the Abu Dhabi Securities Market (ADX), is looking at two infrastructure investments in Europe valued at between 500 million and 1 billion euros, Khadem al-Qubaisi told the Financial Times.

Aabar is also considering buying a “small stake” in a blue-chip telecoms company in Europe or the United States that could be worth 1.95 billion euros, he told the paper.

International Petroleum Investment Company (IPIC), the parent company of Aabar, considered buying up to 10 percent of BP after the then chief executive Tony Hayward made an approach, he said, but IPIC backed off after the UK oil company made clear it wanted investors to buy shares in the open market.

Aabar’s assets have grown to $13 billion and are expected to touch $15-$16 billion by end of next year with new deals, he said.

 

 

Oil-exporter Abu Dhabi is investing billions of dollars in industry, tourism, real estate and infrastructure to diversify its economy away from oil. Its investment funds are actively investing across asset classes globally. ($1=.7312 Euro)

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