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Hedge funds ask Puerto Rico to raise sufficient capital for two years, give up sovereign immunity- sources

Hedge funds planning to participate in the bond offering of Puerto Rico are asking the commonwealth to raise enough capital to last for two years and give up its sovereign immunity, according to sources interviewed by Bloomberg.

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Sushi Robot

Japanese state-backed fund INCJ picks up minority stake in robotic hand maker Squse–sources

State-backed fund Innovation Network Corp of Japan (INCJ) entered an agreement to pick up a 20% stake in Kyoto-based robotic hand maker Squse Inc for JPY500 million ($4.9 million), according to three sources familiar with the matter.

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US Federal Reserve Building

Economists say the Fed likely to continue with taper despite lackluster job growth- report

According to economists, the poor jobs report will most likely not prevent the Federal Reserve from proceeding with the trimming of its monthly bond purchases, Bloomberg reported.

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SMTDP Tech LTD

Russian investors pour cash into startup that detects photo manipulation

Moscow, Russia-based investment fund Flint Capital and government-backed early-stage fund FRII poured an undisclosed amount into St Petersburg-based photo manipulation detecting startup SMTDO Tech LTD.

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Datamolino

Slovak startup Datamolino gets €500K in seed funding from Slovak Innovations and Technologies Fund

Datamolino, a Slovak startup processes invoices and receipts without the need for manual data entry, has received €500,000 for its seed financing round from Slovak Innovations and Technologies Fund, TechCrunch reported.

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CARE Ratings

India's PSU banks initiates move to offload stake in CARE Ratings -source

India's Public Sector Undertaking (PSU) banks initiated a process to offload their shares in credit ratings agency CARE Ratings, according to sources knowledgeable on the situation.

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Amando Tetangco

Philippine central bank governor Amando Tetangco says policy rate changes not the best response to US taper

According to Central Bank of the Philippines Governor Amando Tetangco, the policy of increasing rates to cope with volatile currencies set in place by fellow emerging markets would be more harmful, the Financial Times reported.

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Foreign Investment

Foreign direct investment in Seoul reaches five-year record high

Based on data gathered by the Seoul Metropolitan Government, foreign direct investment (FDI) poured into Seoul, South Korea, reached $6 billion in 2013, an all-time high since the global financial crisis hit in 2008.

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Singapore central business district

Singapore launches program to fund startups expanding into Indonesia

The Singaporean government launched iSTART, a financing program designed to fund the expansion of local telecommunication and mobile app startups into Indonesia, which could potentially be an avenue for growth for the Singaporean and IT industry.

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Brokerage House in China

PCA Investments to close hedge fund after CIC takes out backing- sources

PCA Investments have decided to close a multistrategy hedge fund after China's sovereign wealth fund China Investment Corp withdrew its support, according to sources interviewed by Bloomberg.

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Kathleen Wynne

Ontario Premier Kathleen Wynne introduces Northleaf Venture Catalyst Fund

Ontario Premier Kathleen Wynne has unveiled a new public-private venture capital fund known as Northleaf Venture Catalyst Fund for the province's tech sector, CBCNews reported.

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China

China-focused Boyu Capital to close $1.5B for second buyout fund -sources

China-focused private equity group Boyu Capital is set to close $1.5-billion for its second buyout fund within a few weeks, according to people familiar with the matter.

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Bank of America

South Korean fund mulls $1B Bank of America stake sale -report

South Korea-based investment fund Korea Investment Corp (KIC) is considering selling a $1-billion stake in Bank of America after the latter's value halved since 2008, according to a report by Korean media.

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Airbus Group

France divests $614M Airbus stake

The French state divested a 1% stake in Netherlands-based aircraft and defense firm Airbus Group for €451 million ($614 million), according to the French economy minister.

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Brookstone

Brookstone Co engages services of Jefferies Group, K&L Gates for debt restructuring- sources

To help it restructure its debt, retailer Brookstone Co has hired a financial adviser Jefferies Group and law firm K&L Gates, according to sources interviewed by Bloomberg.

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