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REUTERS/Jonathan Bachman/File PhotoHOUSTON, July 21 (Reuters) - A U.S. court set Oct. 23 as the start date for a long-expected auction of shares in Venezuela-owned refiner Citgo Petroleum's parent to pay creditors with judgments against the South American nation. U.S. Judge Leonard Stark in Delaware this week accepted a recommendation by a court official in charge of organizing the auction. Proceeds from any sale of PDV Holding shares would be used to pay off creditors previously cleared by the court. Any sale of Citgo without the participation of Venezuela would be "hurtful," Pedro Tellechea, Venezuela's oil minister, said on Friday. "It's not a PDVSA asset.

Persons: Jonathan Bachman, Judge Leonard Stark, PDV, Pedro Tellechea, Horacio Medina, Stark, Venezuela's, Hugo Chavez, PDVSA, Marianna Parraga, Gary McWilliams, Richard Chang, Grant McCool Organizations: Citgo Petroleum, REUTERS, South, Petróleos, PDV, U.S . Treasury Department, PDVSA, Crystallex, ConocoPhillips, Siemens Energy, Tree Investments, Inc, Huntington Ingalls Industries, ACL1 Investments, Rusoro, Koch Industries, Thomson Locations: U.S, Stowell , Texas, Venezuela, South American, PDV, Delaware

A negotiating team representing the South American country has held settlement talks with some of those creditors and holders of defaulted PDVSA bonds. The U.S. has shielded Houston-based Citgo from creditors since the company in 2019 severed ties with its ultimate parent, Venezuela's state oil firm Petroleos de Venezuela (PDVSA.UL), which is controlled by President Nicolas Maduro. Horacio Medina, chief of the board that supervises Citgo, did not immediately reply to a request for comment. A sales process for Citgo shares that could begin as soon as September is under consideration by a U.S. judge in Delaware. Venezuela this month lost a separate appeal trying to block new creditors from attaching to the Delaware case.

Persons: Nicolas Maduro, Horacio Medina, Citgo, PDVSA's, PDVSA, Katherine Polk Failla, Marianna Parraga, Gary McWilliams, Matthew Lewis Organizations: U.S . Treasury Department, Treasury, Crystallex International, ConocoPhillips, Siemens Energy, Tree Investments, U.S, Huntington Ingalls Industries, ACL1 Investments, Rusoro, Koch Industries, New, Thomson Locations: Venezuela, Petroleum, U.S, Houston, Petroleos, Delaware, New York, Manhattan

SINGAPORE, July 11 (Reuters) - Singapore investment firm Temasek Holdings (TEM.UL) on Tuesday posted a 5.2% drop in its net portfolio value to S$382 billion ($284.65 billion) in the financial year that ended in March. The drop in net portfolio value is its first since the 2019 financial year and came amid intensified global market volatility. Over the last decade, Temasek has grown its net portfolio value by 77.7% to S$382 billion from S$215 billion in 2013. Its portfolio value hit a record high of S$403 billion in the year ending in March 2022. Most of China's tech companies share prices have rallied since Friday on the hope that strict regulations that have stymied growth for more than two years would ease.

Persons: Chin Yee, Temasek, Rohit Sipahimalani, it's, Yantoultra Ngui, Xinghui, Robert Birsel Organizations: Temasek Holdings, Ant Group, Temasek, DBS, China Construction Bank, PSA International, Mapletree Investments, Ant, People's Bank of, Thomson Locations: SINGAPORE, Singapore, China, Asia, Temasek, People's Bank of China

HOUSTON, June 30 (Reuters) - Negotiators representing Venezuela have held settlement talks with bondholders and creditors owed billions of dollars from defaults and expropriation claims, the head of a board supervising the country's foreign oil assets told Reuters. The U.S. has for years shielded Citgo from seizure under a license that will expire next month if not renewed. Some $2.6 billion in court-approved claims from Crystallex International, ConocoPhillips (COP.N), Siemens Energy (ENR1n.DE) and Red Tree Investments could be applied to auction proceeds. "We have progressed with the bondholders and Crystallex since party representatives officially met for the first time late last year and in February, respectively. IN 'GOOD FAITH'A negotiation team representing Venezuela also has held talks with ConocoPhillips, but they have not swapped financial proposals, he said.

Persons: Horacio Medina, Medina, Ryan Lance, Citgo, Marianna Parraga, Gary McWilliams, David Evans Organizations: Reuters, Citgo Petroleum, Crystallex International, ConocoPhillips, Siemens Energy, Tree Investments, U.S . Treasury, U.S, Thomson Locations: Venezuela, U.S, New York, Delaware, Washington

Rio Tinto, the majority shareholder in ERA which owns and operates the Ranger mine site, has been under pressure to fund the cleanup costs. Rehabilitation costs are estimated at A$1.6 billion to A$2.2 billion, ERA said in a statement. ERA shares declined 9.8% to A$0.185, their lowest since June 2022, while the benchmark index (.AXJO) was marginally higher. ERA will also use the proceeds to partly repay a A$100 million loan from Rio Tinto. (This story has been corrected to state that Rio Tinto is majority shareholder of the mine's owner and operator, not the mine's operator, in paragraph 2, and to state that the target of the protests was the mine and the Jabiluka project, not Rio Tinto, in paragraph 7)Reporting by Harish Sridharan in Bengaluru; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

☆ Tech stocks set for a better year ahead, researcher says
▼ + stars: | 2023-04-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTech stocks set for a better year ahead, researcher saysAneeka Gupta, director of research at WisdomTree Investments, discusses the outlook for equities.

☆ Analysis: China's markets clutch at economy reopening straws
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +4 min

Nearly three years after the coronavirus was first detected in central China, daily cases hit a six-month high on Friday. Even the unverified social media post on Tuesday that sparked the market's exuberance said a "Reopening Committee" would not aim at relaxing the curbs before March. China stocks market cap'THE TEST OF HISTORY'But cooler heads warn that China's trajectory of COVID rule relaxation will not resemble this week's stock charts. Reopening from COVID will likely take "a steady and gradual approach", similar to China's lengthy but successful economic liberalisation, said Zhang Kaihua, a Nanjing-based hedge fund manager. Yin Peixin, investment manager at Shanghai Jianlong Asset Management Co., said: "If our leadership doesn't stick with zero-COVID, China will be thrown into a hellish condition."

Chinese equities make up 31% of the MSCI Emerging Market index (.MIEF00000PUS), a popular stock index that many funds track and benchmark their performances against. Fund research firm Morningstar tracks nine new emerging market ex-China equity mutual funds and exchange-traded funds (ETFs) that were created this year, matching the number of launches in total over the previous two years. If Aubrey was to remove China from its emerging market strategy, the Indian market would take a significant portion, while the rest will be spread around other countries including Vietnam, Brazil and Mexico, he said. OUTFLOWSAndrew McCaffery, Fidelity International's global chief investment officer, said they have received increased requests from clients for emerging markets excluding China strategies, although the purpose was to “break China out as an allocation separately within global portfolios”. “The challenge is that they (global investors) are not going to be quick to add back in,” he said.

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