* Abu Dhabi plans to invest up to $5bn in Russian infrastructure
* Chinese PM commits to financial reform
* Putin takes to the NYT opinion pages
* Indonesia vows to turn crisis into opportunity
* China navy plots course to stock market
* China sees rising appetite for corn imports
* Kashagan oilfield begins production
* Chilean and African drugmakers unite in $1.3bn deal
* SocGen is exploring the sale of its Asia private banking arm
* Markets: unexciting
Abu Dhabi plans to invest up to $5bn in Russian infrastructure
Abu Dhabi is planning to invest as much as $5bn in Russian infrastructure projects over the next seven years in a move highlighting Russian efforts to attract sovereign wealth money.
Chinese PM commits to financial reform
Li Keqiang, the Chinese premier, has vowed to overhaul state-dominated financial institutions, liberalise interest rates and eventually make the renminbi freely convertible in a sweeping restatement of the newly installed government’s economic reform agenda.
A plea for caution from Russia
“Recent events surrounding Syria have prompted me to speak directly to the American people and their political leaders,” writes Vladimir Putin.
Indonesia vows to turn crisis into opportunity
Indonesia’s central bank will on Thursday come under pressure to raise interest rates for the second time in two weeks in a bid to prop up the rupiah, which has been caught in the global emerging market sell-off.
China navy plots course to stock market
Capital markets have funded wars for centuries. Now the People’s Liberation Army is also turning to the stock market to help propel China’s ambitious naval expansion plans.
China sees rising appetite for corn imports
More money to spend and a growing taste for meat on the dinner table are transforming China’s appetite for corn imports. The effect on global food markets could be profound.
Kashagan oilfield begins production
The long-delayed supergiant Kashagan field in Kazakhstan has produced its first oil, putting the Central Asian country on course to become one of the biggest crude producers in the world over the next decade
Chilean and African drugmakers unite in $1.3bn deal
CFR Pharmaceuticals, Chile’s largest pharmaceuticals company is about to get even bigger after agreeing to pay $1.3bn for South Africa’s Adock Ingram Holdings, in a deal that would expand CFR’s reach across four continents.
“Societe Generale, France’s No. 2 listed bank, is exploring the sale of its Asia private banking arm, people familiar with the matter told Reuters, seeking to exit a market where small managers are getting hit by rising costs and competition. The Singapore-based division could fetch around $600 million…”
MSCI Emerging Market Index up +0.23% at 994.26
DJIA up +0.89% at 15,327
S&P 500 up +0.31% at 1,689
Bovespa down -0.76% at 53,570
Nikkei 225 down -0.09% at 14,412
Topix down -0.42% at 1,184
Hang Seng up +0.23% at 22,990
Shanghai Composite up +0.09% at 2,243
MSCI Asia ex-Japan up +0.13% at 536.88
CNX Nifty down -0.22% at 5,900
€/$ 1.33 (1.33)
$/¥ 99.53 (99.85)
Brent Crude (ICE) up +0.17 at 111.67
Light Crude (Nymex) up +0.14 at 107.70
100 Oz Gold (Comex) down -3.90 at 1,360
“Societe Generale, France’s No. 2 listed bank, is exploring the sale of its Asia private banking arm, people familiar with the matter told Reuters, seeking to exit a market where small managers are getting hit by rising costs and competition. The Singapore-based division could fetch around $600 million…” (Reuters)