Day: May 24, 2020

China’s $941 Billion Sovereign Fund Seeks More Resilient Assets

(Bloomberg) — China Investment Corp. is looking for more resilient assets in markets battered by the coronavirus pandemic as the nation’s $941 billion sovereign wealth fund seeks to boost long-term returns, Executive Vice President Zhao Haiying said.

The Beijing-based company added to its investments in credit markets in recent months, especially investment-grade loans in the U.S., after the Federal Reserve eased a liquidity crunch, Zhao said in an interview with Bloomberg News on Saturday. CIC, as the fund is known, also bolstered holdings in healthcare and information technology stocks and added exposure in regions like Asia where there was “less

India slipping into recession soon? Here’s what will hit economy hard in the next few quarters

The report noted that the government’s larger-than-expected stimulus package is likely to re-start economic activities.

The Indian economy is likely to slip into recession in the third quarter of this fiscal as loss in income and jobs and cautiousness among consumers will delay recovery in consumer demand even after the pandemic, says a report.

According to Dun & Bradstreet’s latest Economic Observer, the country’s economic recovery will depend on the efficacy and duration of implementation of the government’s stimulus package.

“The multiplier effect of the stimulus measures on the economy will depend on three key aspects i.e. the time taken

Reliance Industries estimates $200-400 million liability in KG-D6 cost recovery dispute

Reliance held 60 per cent interest in block KG-DWN-98/3 or KG-D6 in the Bay of Bengal.

Reliance Industries has estimated a maximum liability of USD 400 million (Rs 3,000 crore) in its nine-year old dispute with the government over alleged under-utilisation of capacity at the KG-D6 field due to failure to comply with an approved investment plan.

Natural gas output from Dhirubhai-1 and 3 gas fields in the KG-D6 block in the Bay of Bengal started to lag company projections from the second year of production itself in 2010 and the field ceased to produce in February this year much