Andrew Gillan of Janus Henderson Investors says he likes markets in the Philippines and Indonesia, and explains why it's difficult to invest in Vietnam despite its...Investingread more
China has other "weapons" in its trade battle with the United States — and selling off its U.S. Treasury holdings will not be one of them, said Richard McGregor, senior fellow...China Economyread more
Deutsche Bank Wealth Management's global chief investment officer predicted the Federal Reserve will cut interest rates twice in the next 12 months, but chances of a four-time...US Economyread more
Google's services have been blocked in China for several years, but the company still has businesses there, as the tech giant seeks to sell products to Chinese firms in...Technologyread more
Netflix can sustain its lofty valuation only if global subscriber growth can support increasing content spending and debt.Technologyread more
Germany online bank N26 said it raised a huge $170 million in additional funding, valuing the six-year-old fintech start-up at $3.5 billion.Technologyread more
Stocks in Asia traded lower on Thursday afternoon. Australia's jobs data showed the net number of jobs created was far below expectations.Asia Marketsread more
The House voted to table a resolution to start impeachment proceedings against President Donald Trump introduced by Rep. Al Green.Politicsread more
A photo editing app has introduced a few new wrinkles to the faces of celebrities — and to the ongoing discussion around personal digital security, NBC reports.Technologyread more
Property price gains across the wider U.K. have been slowing since 2016, according to the U.K.'s Office for National Statistics.Real Estateread more
The International Monetary Fund on Wednesday said that the U.S. dollar was overvalued by 6% to 12%, based on near-term economic fundamentals, while the euro, Japan's yen and...World Economyread more
Abu Dhabi Financial Group (ADFG) has submitted a revised bid to acquire the management rights for the Middle East funds of stricken Dubai-based Abraaj, according to a document seen by Reuters.
The Abu Dhabi-based alternative investment firm is among more than a dozen bidders seeking to buy the bulk of Abraaj's private equity funds.
But in a letter to investors in Abraaj Funds, ADFG said that the bid is unlikely to materialize given the "convolution" of the situation.
To address this, ADFG is seeking a dedicated budget to conduct a full forensic audit and a litigation budget. Its new offer includes up to $6 million for the audit and litigation financing as well as a $10 million credit facility to fund the operations of the Middle East funds.
The $10 million is in addition to $10 million earmarked separately for the fund manager's liabilities.
"Such a dedicated budget is crucial not only to seek damages from previous management but also to ensure recoverability of funds for investors in the Middle East funds," ADFG said in the letter seen by Reuters.
"This means there is a zero capital call requirement from all the 200 unique investors in the Middle East funds which will clear one of the major hurdles going forward for the protection of the assets."
Abraaj has 10 Middle East funds involving some 200 investors from across the globe.
Abraaj filed for provisional liquidation in the Cayman Islands in June after months of turmoil related to a row with investors over the use of their money in a $1 billion healthcare fund.
Last month Reuters reported that Actis had bid to buy the bulk of Abraaj's private equity funds, joining more than a dozen other bidders.