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ReutersBEIJING – International investment firms have changed their China GDP forecasts nearly every month so far this year, with JPMorgan making six adjustments since January. Here are some winners to watch The U.S. investment bank most recently cut its China GDP forecast in July to 5%, down from 5.5% previously. In June, the World Bank raised its forecast for China's growth this year to 5.6%, up from 4.3% previously. The International Monetary Fund in April raised its forecast for China's GDP to 5.2%, up from 4.4% previously. Among the six investment firms CNBC looked at, the highest China GDP forecast so far this year was JPMorgan's 6.4% figure — when the bank adjusted for the second time in April alone.

Persons: Morgan Stanley, Nomura, Goldman Sachs, Logan Wright, Shehzad Qazi, Qazi Organizations: Reuters, Reuters BEIJING – International, JPMorgan, CNBC, Citi, Beijing, Citi's, UBS, National Bureau, Statistics, U.S, Chinese Communist Party . Investment, Bank, International Monetary Fund, Monetary Fund Locations: Lianyungang, Jiangsu province, China, Reuters BEIJING, U.S, Beijing, New York

☆ Bain to buy 90% stake in Adani Capital and Adani Housing
▼ + stars: | 2023-07-23 | by ( Akanksha Khushi | ) www.reuters.com time to read: +2 min

July 23 (Reuters) - U.S.-based investment firm Bain Capital said on Sunday that it has entered into an agreement to acquire 90% of Adani Capital and Adani Housing, buying out all of the Adani family's private investments in the company. Gaurav Gupta will retain the remaining 10% stake in Adani Capital and will continue to serve as its Managing Director and CEO, Bain said. Adani Capital is the non-banking financial arm of the Adani group which started its lending operations in 2017. The transaction, which is expected to close in the fourth quarter of this year, aims to position Adani Capital as a standalone company to expand lending, Bain said. Adani group stocks have recovered by around $50 billion since the Hindenburg-triggered stock rout early this year after Gautam Adani assured investors and repaid debt.

Persons: Gaurav Gupta, Bain, Gautam Adani, Gupta, Akanksha, Hugh Lawson, Andrea Ricci Organizations: Bain Capital, Adani, Hindenburg, Bain, Thomson Locations: Gautam, Bengaluru

According to JPM's circular, the shares currently unaccounted for are estimated to be less than 1% of the shares held in custody at another financial institution. This meant Deutsche was unable to reconcile the company shares held at another custodian bank with the depositary receipts on its own books. The Bank of Russia did not immediately respond to a request for comment on JP Morgan's search for the potentially missing Magnit shares. More than 60% of Magnit's shares are free-float, with shareholders including major global asset managers, Refinitiv data shows. When first announcing the plans, Magnit said its voluntary tender offer was also addressed to JPM, regarding shares held in its DR program custody account.

Persons: Morgan Chase, Mike Segar, Morgan, JPM, Deutsche, Russia's, Magnit, Sinead Cruise, Alexander Marrow, Jane Merriman Organizations: Co, New York City, REUTERS, Reuters, Deutsche Bank, Deutsche Bank . Lawyers, Deutsche, Bank of Russia, Settlement Depository, NSD, Kremlin, Thomson Locations: New York, Ukraine, Moscow, Russian, Krasnodar, Russia, Uzbekistan, Euroclear

BUCHA, Ukraine — There is a line of tidy houses on Vokzalna Street, where crumbling homes once lined a roadway littered with burned-out Russian tanks. There are neat sidewalks and fresh pavement with blue and yellow bunting hanging overhead. And there are backhoes and bulldozers plowing across a construction site where a new home goods store will replace a previous one that was burned to the ground. More than a year after Ukrainian forces wrested back Bucha from Russian troops, the town has drawn international investment that has physically transformed it, and it has become a stopping point for delegations of foreign leaders who come through almost weekly. And yet behind the veneer of revitalization, the pain that suffused Bucha during its month of horror under Russian occupation still lingers.

Locations: BUCHA, Ukraine, Kyiv

☆ We have to separate A.I. story from the investment opportunity, says CEO Richard Bernstein
▼ + stars: | 2023-07-06 | 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 EmailWe have to separate A.I. story from the investment opportunity, says CEO Richard BernsteinRichard Bernstein, Richard Bernstein Advisors CEO, joins 'Squawk on the Street' to discuss rising Treasury yields, strategies for investing in AI stocks, and how a strong dollar could hurt international investment returns.

Persons: Richard Bernstein Richard Bernstein, Richard Bernstein

☆ Chinese AI startup Fourth Paradigm receives China's nod for Hong Kong IPO
▼ + stars: | 2023-07-05 | by ( Kane Wu | ) www.reuters.com time to read: +2 min

HONG KONG, July 5 (Reuters) - Beijing Fourth Paradigm Technology, an AI startup, has completed procedural work for a Hong Kong initial public offering, becoming only one of a handful of companies to get the nod from China's securities regulator since new rules became effective this year. The company has successfully completed the offshore listing filing process，according a July 3 filing on the China Securities Regulatory Commission (CSRC) website. Fourth Paradigm and one other company got the CSRC greenlight on July 3, adding to two other firms this year. Fourth Paradigm, also known as 4Paradigm, filed its fourth IPO application to the Hong Kong Stock Exchange in April. Fourth Paradigm counts Goldman Sachs (GS.N), Sinovation, Haitong International Investment and a number of state-backed funds as investors, the CSRC filing showed.

Persons: Goldman Sachs, Kane Wu, Edwina Gibbs Organizations: Paradigm Technology, Hong, China Securities Regulatory Commission, Hong Kong Stock Exchange, Commerce Department, International Investment, China International Capital Corp, CCB International, China Merchants Securities, Thomson Locations: HONG KONG, Beijing, Hong Kong

☆ The US stock market rally is unsustainable, but making these 20 international investments can lead to long-term profits, according to 3 fund managers with over $43 billion in combined assets
▼ + stars: | 2023-06-30 | by ( James Faris | ) www.businessinsider.com time to read: +9 min

International stocks have underperformed for over a decade, while US growth names took off. However, foreign companies have attractive relative valuations and earnings growth. Why foreign stocks are more than just a good dealAnyone bullish on international stocks will almost always point to their valuations relative to US companies. Investors can get downside protection in this uncertain environment by buying international stocks that are high quality and can generate their own growth, Deladerriere said. And in addition to their rising earnings growth, the fund manager noted that the two pay sizable dividends.

Persons: they've, Nick Paul, Paul, Steve Gorham, who's, Gorham, Wes Crill, Crill, isn't, Alexis Deladerriere, Deladerriere, there's, Goldman, haven't, He's, it's Organizations: MFS Investment Management, Value, Vanguard, Index, Yahoo Finance, Dimensional Fund Advisors, Fund, Goldman Sachs International Equity Income, Goldman, Asset Management, Goldman Sachs, Management, HSBC, BNP, Schneider, MFS, Hitachi Locations: Europe, Asia, BlackRock, weightings, Gorham, Japan, London, Paris, Spanish, Ukraine, France, Australia, Taiwan

☆ At recovery summit, UK's Sunak to unveil major Ukraine support
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +3 min

At the beginning of the two-day Ukraine recovery conference in London, Sunak will outline a package which will also include 240 million pounds ($306 million) of bilateral assistance and an expansion of British International Investment in Ukraine. "I'm proud that today we're announcing a multi-year commitment to support Ukraine's economy, and over the next three years, we will provide loan guarantees worth $3 billion." The United States is also expected to set out "a new, robust" assistance package for Ukraine on Wednesday. His office said he would also launch the London Conference Framework for War Risk Insurance at the summit and that some major companies had already signed up to the so-called Ukraine Business Compact, a statement of support for Ukraine's recovery. ($1 = 0.7851 pounds)Reporting by Elizabeth Piper Editing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Volodymyr Zelenskiy, Rishi Sunak, Sunak, Ajay Banga, Elizabeth Piper, Alexandra Hudson Organizations: British, Presidential Press Service, REUTERS, Bank, British International Investment, World Bank Group, Ukraine, Wednesday, Insurance, World Bank, European Commission, United Nations, Alexandra Hudson Our, Thomson Locations: Hiroshima, Japan, Ukraine, London, Britain, Russia, United States, Ukrainian

☆ Intel to invest $25 billion in Israel factory in record deal, Netanyahu says
▼ + stars: | 2023-06-18 | by ( ) www.reuters.com time to read: +1 min

JERUSALEM, June 18 (Reuters) - U.S. chipmaker Intel Corp (INTC.O) will spend $25 billion on a new factory in Israel, Prime Minister Benjamin Netanyahu said on Sunday, calling it the largest-ever international investment in the country. Under the deal Intel will pay a 7.5% tax rate, up from the current 5%, the ministry added. In 2017, Intel bought Israel-based Mobileye Global Inc (MBLY.O), which develops and deploys advanced driver-assistance systems, for $15 billion. Announcing the deal in televised remarks to his cabinet, Netanyahu called it "a tremendous achievement for the Israeli economy - 90 billion shekels ($25 billion) - the largest investment ever by an international company in Israel". In a statement, Intel said its Israel operations had "played a crucial role" in the company's global success.

Persons: Benjamin Netanyahu, Netanyahu, Dan Williams, Ari Rabinovitch, James Mackenzie Organizations: chipmaker Intel Corp, Israel's Finance Ministry, Intel, Inc, Thomson Locations: Israel, Kiryat Gat

"It is clear that to ensure economic confidence, legal consistency is a must," one of the senior officials said. Deniz Ozen, lawyer for the Turkish Workers' Party MP, said authorities are violating Turkish law by keeping him in jail. Emma Sinclair-Webb, Turkey director of Human Rights Watch, said a discredited justice system is a matter of concern especially for European investors. Reinforcing the apparent U-turn, Erdogan on Friday named Hafize Gaye Erkan as central bank governor, paving the way for interest rate hikes. "No matter the economic reforms, the investment will not significantly ramp up," he said.

Persons: Erdogan, Tayyip Erdogan, Mehmet Simsek, Simsek, Mehmet Gun, Orhan Turan, Turkey's, Osman, Deniz Ozen, Emma Sinclair, Hafize Gaye Erkan, Howard Eissenstat, Burcu Karakas, Jonathan Spicer, Catherine Evans Organizations: Better Justice Association, Istanbul Convention, Gazette, Bank, AK Party, of Human, Human Rights, Turkish Workers ' Party, Finance, St, Lawrence University, Thomson Locations: ISTANBUL, Turkey, Istanbul, Osman Kavala, Kavala, Webb

But rival European battery groups are still scarce, and global carmakers have more to gain than lose. Chinese battery suppliers like Contemporary Amperex Technology (CATL), SVOLT, Envision, and most recently EVE Energy (300014.SZ), are shaking up Europe’s e-mobility supply chains. At 4.5 billion euros, investments in projects to build new plants in Europe overtook spending on mergers and acquisitions. European battery makers will struggle to compete. Given the chance, Chinese battery makers can power up Europe’s own supply chains, and its auto companies too.

Persons: CATL, It’s, Bernstein, Emmanuel Macron, Tesla, Elon, Lisa Jucca, Thomas Shum Organizations: Reuters, Volkswagen, BMW, Volvo, Technology, EVE Energy, Shanghai Putailai, Energy Technology, Mineral Intelligence, Companies, Wall Street, LG, Samsung SDI, Union, Commission, EU, United, Mercedes, Benz, Elon Musk’s, Mercator Institute for China Studies, Thomson Locations: HONG KONG, China, People’s Republic, Europe, Shanghai, People’s, Sweden, United States, EU, Hungary, Spain

☆ Capital markets are slow to adapt to regime changes, says Zoe Financial's Andres Garcia-Amaya
▼ + stars: | 2023-05-17 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCapital markets are slow to adapt to regime changes, says Zoe Financial's Andres Garcia-AmayaAndres Garcia-Amaya, Zoe Financial CEO, joins 'The Exchange' to discuss U.S.-China trade relations, opportunities for international investments, and corporate changes catalyzing Japanese stocks.

The Canadian pension funds have benchmarked their investments to that level, according to the presentation. Australian pension funds have invested about 50% of their total assets in domestic equities, according to the presentation. China Investment Corp is Teck's single-biggest institutional investor with a 10.3% stake, and Norway's wealth fund, Norges Bank, owns 1.52%, while Canadian pensions together hold 0.78% stake, according to Refinitiv data. All other pension funds did not respond to Reuters request for comments. Canadian pension funds represent 30% of the total financial savings of Canadians.

☆ Elon Musk to meet Macron, other leaders at France conference
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +1 min

PARIS, May 15 (Reuters) - Billionaire entrepreneur Elon Musk will meet French President Emmanuel Macron and other political leaders on Monday at a business conference close to Paris, the Elysee Palace said, confirming earlier media reports. Musk, the CEO of Tesla (TSLA.O) who bought social network Twitter in a $44 billion deal last year, will meet Macron at the palace before attending lunch with Finance Minister Bruno Le Maire, the finance ministry told Reuters. Musk will also visit the sixth edition of the annual "Choose France" summit in Versailles, aimed at boosting international investment in France. Le Maire told BFM TV that the talks between the government and Musk would cover several topics, including electric cars. Asked by BFM TV if any announcement was likely, Le Maire said "all investments that are being made today are the result of months or even years of negotiations."

☆ Former Goldman Sachs partner launches fund of up to $550 mln in Portugal
▼ + stars: | 2023-05-09 | by ( Sergio Goncalves | ) www.reuters.com time to read: +2 min

LISBON, May 9 (Reuters) - Fortitude Capital, founded by former Goldman Sachs (GS.N) partner Antonio Esteves, Brazilian bank BTG Pactual (BPAC3.SA) and Portuguese asset manager Atrium, has launched its first fund with a target size of up to 500 million euros ($550 million). He said that, contrary to the majority of funds in Portugal, the first Fortitude fund would be mostly funded by private investors and its founders will be the fund's biggest investors. He added that Portugal, only sporadically on the radar of global private equity funds and international investment banks, was always short of private capital and very dependent on national banks. In Portugal, private equity funds are normally funded by public money and tend to be up to 100 or 200 million euros. The first investment should be 50 million euros in the agricultural sector "in the next two months", with an investment of 350 million euros also in the pipeline by the end of the year.

☆ What Chile's state-led lithium policy means for the future of the electric vehicle industry
▼ + stars: | 2023-05-06 | by ( Katie Brigham | ) www.cnbc.com time to read: +9 min

The only two lithium companies currently operating in Chile are North Carolina-based Albemarle , the largest lithium producer in the world, and SQM , the No. Chile's lithium is of particular strategic importance to the U.S., which has a free trade agreement with the country but not with neighboring Argentina. The plan calls for the creation of a national lithium company to partner with all private businesses looking to enter the sector. Bags of battery-grade lithium carbonate at La Negra, Albemarle's lithium processing plant near Antofagasta, Chile. Lenny-Pessagno told CNBC in January that Albemarle supports the creation of a state-owned lithium company.

☆ International Investment Bank to relocate headquarters from Budapest back to Russia
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

April 19 (Reuters) - Russia's International Investment Bank (IIB) will relocate its headquarters from Budapest back to Russia, according to a statement published on the bank's website on Wednesday. The decision was announced a week after the United States imposed sanctions on three top officials of IIB in Budapest: two Russians and a Hungarian. "IIB has exhausted the basis for further operations from its headquarters in Budapest and in the European Union," the IIB statement said. "The Bank has commenced a relocation of its operations and functions of its headquarters from Hungary to Russia." The Hungarian government took no measures against the bank, which moved its operations to Budapest in 2019.

☆ South Africa targets $111 billion investment goal in tough investor climate
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +3 min

[1/2] South Africa's President Cyril Ramaphosa looks on as he delivers the opening address at the 5th Investment Conference to showcase opportunities available in the country to local and international companies, in Sandton, South Africa, April 13, 2023. Jairus Mmutle/Government Communication Information System (GCIS)/Handout via REUTERSJOHANNESBURG, April 13 (Reuters) - South Africa needs to urgently fix energy, transport and security challenges if it is to reverse souring investor sentiment, executives said on Thursday as President Cyril Ramaphosa targets 2 trillion rand ($111 billion) in new investments over the next five years. "The way we see it for the future of South Africa, international investment is so important and these challenges make it difficult for us to position the potential of South Africa as an attractive investment destination while there is uncertainty on when reforms will be implemented," Brown said. South Africa has experienced its worst power cuts on record, leaving businesses and households in the dark for up to 10 hours daily. The South African Reserve Bank estimates these blackouts have shaved off at least 2 percentage points from growth.

The sanctions, imposed by the Treasury and State departments in concert with Britain, hit entities and individuals across over 20 countries and jurisdictions, including facilitators of sanctions evasion, the State Department said in a statement. Separately, the Treasury said it imposed sanctions on Russian financial facilitators and sanctions evaders around the world, including Turkey, United Arab Emirates and China-based people and companies. The Treasury also targeted King-Pai Technology HK Co, Ltd, which it said is a China-based supplier for multiple entities in Russia's military-industrial complex. Washington has not yet imposed sanctions on Rosatom itself. "It will always be a race between sanctions enforcement and sanctions evaders.

☆ UK PM Sunak to meet President Biden in Northern Ireland
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Phil Nobel/PoolLONDON, April 9 (Reuters) - British Prime Minister Rishi Sunak will meet Joe Biden in Northern Ireland next week when the U.S. president flies in to take part in events to mark the 25th anniversary of the Good Friday peace accord. Sunak will greet Biden on Tuesday evening when Air Force One lands for what will be a closely watched visit to both sides of the Irish border at a time of heightened political uncertainty in Northern Ireland. The Good Friday Agreement - signed on April 10, 1998 - largely ended three decades of sectarian bloodshed that had convulsed Northern Ireland since the late 1960s. However the anniversary has been overshadowed by a year-long boycott by Northern Ireland's largest pro-British unionist party of the power-sharing devolved government central to the peace deal. Although that deal has so far failed to restore the devolved government in Northern Ireland, Sunak will seek to bolster his support for the province by announcing a summit later in the year to stimulate international investment.

☆ Premarket stocks: The US economy is unwell. April could be a cruel month
▼ + stars: | 2023-04-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —After months of a remarkably strong US labor market and economy, everything seems to be slowing down. The question is whether Friday’s monthly jobs report, easily the most anticipated piece of data out this week, will confirm the trend. The unflinching resilience of the US labor market is one of the greatest sources of tension in today’s economy. Over the past year, the Fed has raised interest rates from nearly zero to a range of 4.75% to 5% to cool the economy. A slowdown in the official US jobs report Friday could signal an economic sea change.

☆ Shares of family-owned UAE exchange Al Ansari Financial Services surge in Dubai trading debut
▼ + stars: | 2023-04-06 | by ( Emma Graham | ) www.cnbc.com time to read: +1 min

DUBAI, United Arab Emirates — Al Ansari Financial Services made its trading debut on the Dubai Financial Market Thursday. Shares surged over 17% for the family-owned remittances and money exchange firm, which marks the first IPO for Dubai this year. The Al Ansari family sold 750 million shares in the offering, which is equal to a 10% stake in the company. Al Ansari Financial Services' Group CEO Rashed Ali Al Ansari told CNBC's Dan Murphy the sheer size of the organization pushed the company to decide to list publicly. In 2021, Dubai announced a listing of 10 state entities which aims to double the size of the Emirate's capital market to $817 billion.

☆ Australian PM seeks to diversify trade, investment on India visit
▼ + stars: | 2023-03-06 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

SYDNEY, March 7 (Reuters) - Australian Prime Minister Anthony Albanese said on Tuesday his government wants to diversify trade and foreign investment partners, as he prepares to lead a business delegation to India which he said shares Australia's democratic values. China is easily Australia's largest trading partner, although a diplomatic dispute has resulted in what Australia calls "trade blockages" being imposed by China on a raft of Australia's exports. Business leaders across transport, resources, finance, higher education, architecture and energy will on Wednesday accompany Albanese to India, which is Australia's sixth largest trading partner. "We can do all these things as well as remaining a trusted and reliable supplier of energy to key trading partners such as Japan and the Republic of Korea," he added. Albanese said Australia would be "deepening and diversifying our international investment and trade links".

☆ Hong Kong spreads its wings, and its bets
▼ + stars: | 2023-02-23 | by ( Una Galani | ) www.reuters.com time to read: +7 min

HONG KONG, Feb 23 (Reuters Breakingviews) - For a sign that Hong Kong’s recovery is more than wishful thinking, look no further than the city’s Disneyland. The house of Mickey Mouse is implicitly betting Hong Kong will soon be back, and bigger than before. At its core, Hong Kong’s unique selling point is that it’s China-by-proxy for investors; enterprises in the People’s Republic account for 78% of the market capitalisation of Hong Kong’s main boards. Against such a backdrop, it’s logical that Hong Kong is trying to spread its bets. Hong Kong exchange boss Nicolas Aguzin’s pitch is strengthened by a Chinese plan to let overseas companies listed in Hong Kong be included in the Connect programme.

☆ China formalizes rules for overseas IPOs
▼ + stars: | 2023-02-20 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

BEIJING – China-based companies now have more clarity on whether they can list overseas in the U.S. The China Securities Regulatory Commission announced late Friday new rules that require domestic companies to comply with national security measures and the personal data protection law before going public overseas. The securities regulator's rules do not ban the variable interest entity structure commonly used by Chinese companies when listing in the U.S. The CSRC said its rules for overseas listings are set to take effect March 31. The new rules also call for IPO underwriters, typically international investment banks, to annually report to the CSRC their involvement with Chinese listings overseas.

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