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Sovereign wealth funds on euromoney.com

Sovereign wealth funds on euromoney.com

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Scandals fraud and losses in the financial markets

Scandals fraud and losses in the financial markets

HSBC is the latest bank to be hit by attempted fraud, which Euromoney was first to report.

Wednesday, April 23, 2008

Indian government clears foreign direct investment proposals worth INR 6.57bn.





Indian government clears foreign direct investment proposals worth INR 6.57bn. According to news agency PTI, the Indian government has cleared thirteen foreign direct investment proposals worth INR 6.57bn on the basis of the recommendations of the Foreign Investment Promotion Board. The proposals include a plan by US-based financial services provider Goldman Sachs to investments INR 1.99bn for subscribing to preferential equity shares or compulsorily convertible preference shares. The proposals also include a plan by the Indian logistics and courier service provider VRL Logistics Ltd to sell equity worth INR 2.25bn to foreign partners through a public offer. INDONESIA Official: Indonesia may increase subsidised fuel prices. According to news agency Reuters, an official of the energy ministry stated on Monday that in view of the surge in oil prices, Indonesia could increase the price of subsidised fuel in order to reduce its large subsidy bill. Vice-President Jusuf Kalla had made a similar statement last Friday. The recent statements appear to indicate a shift in the stance of the government, which had stated repeatedly in the past that it would not increase fuel prices.


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